Technavio Announces Top Three Trends for Global Bacterial Conjunctivitis Drugs Market Through 2020
Technavio's latest global bacterial conjunctivitis drugs market report highlights three key emerging trends predicted to impact market growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
"The global bacterial conjunctivitis drugs market was dominated by the Americas, with a market share of 49% in 2015. This is due to the rising awareness about the infection along with the available treatment options in the Americas. EMEA followed the Americas, with a share of 30% in 2015. APAC had the lowest share of around 21%, but presents immense growth opportunities for vendors because of the region's high population. Rise in cases of bacterial eye infections in APAC caused by industrialization and air pollution will therefore contribute significantly to the growth of the overall market until 2020," said Barath Padala, one of Technavio's lead industry analysts for infectious and rare diseases research.
Technavio's market research study identifies the following three emerging trends expected to propel the growth of the global bacterial conjunctivitis drugs market:
- Increased adoption of smart grid technologies
- Increase in renewable power generation sources
- New application areas
Strategic alliances and M&A
Strategic alliances, in terms of licensing and collaboration, help in co-development and commercialization of drugs. This strategy emphasizes on the use of technical expertise from both companies for better research and advanced formulations. In such agreements, the regulatory and development experience gained by one company can support pipeline products of another company. In such situations, both companies can gain adequate funds, and thereby reduce the liability costs for individual companies in case of failures, to attract more venture investments. For example, InSite Vision developed the drug AzaSite and signed a licensing agreement with Inspire Pharmaceuticals on February 2007 to market the drug in the US. Later, in May 2011, Merck acquired Inspire Pharmaceuticals, which functioned as a wholly owned subsidiary of the former. However, Inspire Pharmaceuticals was acquired by Akorn, which is now responsible for marketing AzaSite in North America, from Merck in November 2013. Similarly, FST-100 was developed by Foresight Biotherapeutics, which was acquired by Shire, now responsible for developing the drug, in August 2015.
Use of combination therapies
Combination therapies are gaining preference in the market, and physicians are increasingly prescribing combinations of anti-infective and corticosteroid therapies. Anti-infective therapies reduce infection, while corticosteroids reduce inflammation caused to the eye because of the infection. As conjunctivitis is always associated with inflammation of the conjunctival and corneal tissue, resulting in increased irritation, combination therapies are essential for immediate results. Neo-Poly-Dex eye drops by Bausch & Lomb and Maxitrol by Alcon, which contain neomycin and polymyxin B sulfates and dexamethasone, are examples of such combination drugs.
Patient assistance programs
The patient assistance programs for conjunctivitis are expected to boost the growth of the market during the forecast period. Vendors are providing co-pay assistance to patients who purchase medications for conjunctivitis. For instance, Merck provides financial assistance to consumers who purchase AzaSite. A one-time usable coupon offers a USD 20 off on one qualifying prescription for the drug provided for eligible patients. These savings are limited to out-of-pocket costs. Similarly, Bausch & Lomb provides patient assistance programs for individuals who are not covered by any private or government insurance. It provides assistance programs for drugs such as Besivance, Alrex, and Zylet that are used to treat ophthalmic indications. Since drug suppliers provide these assistance programs, patients are inclined toward buying branded therapies. This trend is likely to persist over the forecast period and sustain the market shares of the leading vendors of this market.
Browse related reports:
- Global Conjunctivitis Market 2015-2019
- Global Ophthalmic Therapeutic Market 2015-2019
- Global Retinal Surgery Devices Market 2015-2019
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