Global Ciprofloxacin Ophthalmic Solution Market Size Predicted to Surpass $228.92 Bn Growth by 2030, Growing at a CAGR of 5.4%

New York, NY, April 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Ciprofloxacin Ophthalmic Solution Market By Dosage (2 Drops/30 Minutes, 2 Drops/15 Minutes, And 1-2 Drops/2hrs), By Type (Branded And Generic), By End-Users (Hospitals, Homecare, Specialty Clinics, Others), By Application (Bacterial Conjunctivitis And Corneal Ulcers), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Ciprofloxacin Ophthalmic Solution Market size & share in terms of revenue was valued at USD 152.24 Million in 2022 and it is expected to surpass around USD 228.92 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.4% during the forecast period 2023 to 2030.”

What is Ciprofloxacin Ophthalmic Solution? How big is the Ciprofloxacin Ophthalmic Solution Industry?

Ciprofloxacin Ophthalmic Solution Report Coverage & Overview:

The ciprofloxacin ophthalmic solution industry refers to the production and distribution of eye solutions or eye drops that contain the antibiotic drug ciprofloxacin which is a type of fluoroquinolone antibiotic. It is used to treat bacterial eye infections such as keratitis, conjunctivitis, and corneal ulcers. The industry is led by many factors but also struggles with various growth limitations and challenges. During the forecast period, the industry is expected to come across multiple regulatory concerns as governments across the globe are becoming stricter in terms of medicinal goods circulated in the market.

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Global Ciprofloxacin Ophthalmic Solution Market: Growth Dynamics

The global ciprofloxacin ophthalmic solution market is expected to grow owing to the rising rate of infections, such as corneal ulcers and bacterial conjunctivitis. As the solution is highly effective in managing these conditions, the growing number of patients is likely to impact the demand for ciprofloxacin ophthalmic solution. In addition to this, the increasing awareness surrounding eye care and eye medications may work in the favor of the industry. The rising awareness rate is driven by extensive initiatives undertaken by the government and non-government healthcare-related agencies to educate the masses about the importance of eye care and measures to adopt in case of infections.

The rising investments toward overall healthcare infrastructure may play a crucial role during the forecast period since this is directly translated to more people having access to basic or advanced eye care. As the healthcare community is witnessing a surge in demand for self-administered medications, the demand for ciprofloxacin ophthalmic solution may also grow rapidly.

The global ciprofloxacin ophthalmic solution industry is expected to deal with several growth restraints. One of the major impacting points is the rising strictness of the regional healthcare authorities toward the medicinal products that are imported from foreign countries, as many countries have recently reported certain medicines to be leading causes of additional medical conditions even translating to death in certain cases. In addition to this, factors like frequent patent expiration and associated side effects may also impede industry growth. As healthcare policies across the globe are registering a steady shift, reimbursement policies may also be affected thus causing reduced demand for the solution.

The growing investment toward advancement in drug delivery technologies may provide growth opportunities while the growing competition from generic medicines could challenge market expansion.

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Report Scope

Ciprofloxacin Ophthalmic Solution Market: Segmentation Analysis

The global ciprofloxacin ophthalmic solution market is segmented based on dosage, type, end-users, application, and region.

Based on dosage, the global market segments are 2 drops/30 minutes, 2 drops/15 minutes, and 1-2 drops/2hrs. In 2022,

Based on type, the global market segments are branded and generic. The industry registered the highest growth in the generic segment in 2022 since it is more affordable and more readily available as compared to branded versions. However, it should be noted that generic medicines can only be manufactured once the patent of the branded medicines has expired. Also, some patients or professionals may prefer to use branded medicines. On average, patent terms can last up to 20 years from the date of filing, but they may vary depending on several external factors.

Based on end-users, the ciprofloxacin ophthalmic solution industry segments are hospitals, homecare, specialty clinics, and others.

Based on application the global market divisions are bacterial conjunctivitis and corneal ulcers. During the forecast period, bacterial conjunctivitis is expected to lead with the highest CAGR since it is a relatively common condition as compared to corneal ulcers. It can affect people from all age groups. The condition is also called pink eye and results from bacterial infection of the conjunctiva. Although corneal infections are less common, they are deemed more serious since it arises due to injury to the cornea. Hence the condition may require the use of the solution along with other antibiotics. Bacterial conjunctivitis generally resolves within 1 to 2 weeks.

The global Ciprofloxacin Ophthalmic Solution market is segmented as follows:

By Dosage

• 2 Drops/30 minutes
• 2 Drops/15 minutes
• 1-2 Drops/2hrs

By Type

• Branded
• Generic

By End-Users

• Hospitals
• Homecare
• Specialty Clinics
• Others

By Application

• Bacterial Conjunctivitis
• Corneal Ulcers

Browse the full “Ciprofloxacin Ophthalmic Solution Market By Dosage (2 Drops/30 Minutes, 2 Drops/15 Minutes, And 1-2 Drops/2hrs), By Type (Branded And Generic), By End-Users (Hospitals, Homecare, Specialty Clinics, Others), By Application (Bacterial Conjunctivitis And Corneal Ulcers), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/ciprofloxacin-ophthalmic-solution-market

Competitive Landscape

Some of the main competitors dominating the global Ciprofloxacin Ophthalmic Solution market include - 

• Jubilant Life Sciences Limited
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Pfizer Inc.
• Lupin Limited
• Allergan plc
• Zydus Cadila Healthcare Ltd.
• Bausch Health Companies Inc.
• Fresenius Kabi AG
• Akorn Inc
• Paragon BioTeck Inc.
• Sandoz International GmbH
• Cipla Inc.
• Santen Pharmaceutical Co. Ltd.
• Senju Pharmaceutical Co. Ltd.
• Sun Pharmaceutical Industries Ltd.
• Mylan N.V.
• Hikma Pharmaceuticals PLC
• Valeant Pharmaceuticals International Inc.
• Alcon Inc.
• Micro Labs Limited
• Apotex Inc.
• Shire plc
• Ophthotech Corporation
• Kowa Company Ltd.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Ciprofloxacin Ophthalmic Solution market is likely to expand at a CAGR of around 5.4% during the forecast period (2023-2030).            
• In terms of revenue, the Ciprofloxacin Ophthalmic Solution market size was valued at around US$ 152.24 Million in 2022 and is projected to reach US$ 228.92 million by 2030. The market is projected to grow at a significant rate due to the growing prevalence of eye infections
• Based on dosage segmentation, 1-2 drops/2hrs was predicted to show maximum market share in the year 2022
• Based on end-user segmentation, hospitals were the leading users in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Ciprofloxacin Ophthalmic Solution industry?
• What are the main driving factors propelling the Ciprofloxacin Ophthalmic Solution Market forward?
• What are the leading companies in the Ciprofloxacin Ophthalmic Solution Industry?
• What segments does the Ciprofloxacin Ophthalmic Solution Market cover?
• How can I receive a free copy of the Ciprofloxacin Ophthalmic Solution Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Dosage, By Type, By End-Users, By Application, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global ciprofloxacin ophthalmic solution market is expected to grow with the highest CAGR in North America mainly due to the growing aging population in these areas. The elderly population is highly vulnerable to bacterial eye infections. Furthermore, the already existing large number of users of the ciprofloxacin ophthalmic solution may contribute significantly to the regional market. North America is known to have high healthcare expenditure per capita which may also lead to increased use of the solution.

In Asia-Pacific, the growth may be driven by the robust pharmaceutical sectors of India and China. The former is one of the leading exporters of a variety of medication for its neighboring countries as well as western territories. Furthermore, the generally densely populated areas of these countries lead to higher chances of spreading contagious diseases which is another factor for the region's high demand for eye care solutions.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In March 2023, Paul Karpecki, the director of the cornea and external disease at the Kentucky Eye Institute, initiated the Innovation Showcase of the Ophthalmic Innovation Summit (OIS) which was held at SECO 2023. The presentations at the summit included topics like volume-reducing adaptors for dropper bottles and gene therapy for neurotrophic keratitis (NK)
• In February 2020, Chennai, an Indian city, registered a high influx of patients suffering from ‘Madras Eyes’. Childcare specialists named the condition pharyngoconjunctival fever.

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FREQUENTLY ASKED QUESTIONS

• What is the ciprofloxacin ophthalmic solution?
• Which key factors will influence ciprofloxacin ophthalmic solution market growth over 2023-2030?
• What will be the value of the ciprofloxacin ophthalmic solution market during 2023-2030?
• What will be the CAGR value of the ciprofloxacin ophthalmic solution market during 2023-2030?
• Which region will contribute notably towards the ciprofloxacin ophthalmic solution market value?
• Which are the major players leveraging the ciprofloxacin ophthalmic solution market growth?

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