Albany, NY, Feb. 13, 2018 (GLOBE NEWSWIRE) -- A research conducted by Transparency Market Research (TMR) prognosticates that the future of the viral conjunctivitis pipeline drugs market will brims with opportunities. The market is anticipated to grow at a boisterous CAGR of 69.60% over the period from 2020-2023. The stupendously high CAGR is indicative of the lucrative growth opportunities that rest within the market. The market value is projected to scale up to US$462.4 mn by the end of 2023. The segmentation based on the variety of drugs brings FST-100 drugs to the fore. These drugs are expected to register a CAGR of 27.40% over the forecast period. Geographically, the market is projected to reign supreme over other regions with a CAGR of 46.50% from 2020 to 2023.
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Attention to Eye Care to Furnish Positive Results for the Market
Ophthalmology has transcended as one of the most important domains in the medical fraternity. Continual research to device better treatments for ophthalmological infections and diseases has pronounced the market for viral conjunctivitis pipeline drugs. The drugs in the pipeline are expected to be embraced by healthcare units, medical practitioners, and the common masses. This portrays a bright future for the market and a huge pool of opportunities lie ahead of the market players. Furthermore, a number of international organizations have focused on spreading awareness about the contagiousness of conjunctivitis. This has ensued steps to prevent conjunctivitis and has also informed people about the drugs in the pipeline. Hence, the populace is anticipating the entry of these drugs into the market, which creates demand for the products even before they are available for sale. Another important factor that propels demand within the market is the increasing investment in healthcare across the globe. This is complemented by the rising disposable income, especially in emerging economies. The population has shown proclivity towards better eye care, which is also an integral standpoint for market growth.
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Low Rate of Diagnosis Could Hinder Market Growth
Despite the congenial scenario for the growth of the market, the low rate of diagnosis for conjunctivitis is expected to act as a hurdle to growth. However, this factor alone cannot deteriorate the prospects of market growth. Ardent research initiatives to replace the existing drugs with new and effective ones is projected to keep bolstering demand. Furthermore, the partnerships established by several players has increased the chances of devising apt treatments. Hence, there is tremendous scope for growth and development within the market. Once a novel drug that could give 100% treatment guarantee is introduced, the market would flourish at an affluent pace.
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The global viral conjunctivitis pipeline drugs market is expected to undergo a trajectory of fluctuations with regards to the competitor landscape. Since there is no drug that could effectively cure viral conjunctivitis, the market players are engaging in rigorous research and development to invent a suitable drug. As these companies advance with their research, the competition in the market is anticipated to intensify. The leading market players are Adenovir Pharma AB, Panoptes Pharma GES.M.B.H., Allergan Plc., Shire Plc.,Novartis AG, NovaBay Pharmaceuticals Inc., NicOx S.A., and NanoViricides Inc. These companies have already begun on a spree of trials to make a breakthrough in the treatment of viral conjunctivitis. It would be rational for the new entrants in the market to partner with local vendors and reap the benefits of a wider reach. The market is expected to undergo revolutionary changes once a wholesome drug is invented.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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