Global Antibiotic Eye Drops Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Antibiotic Eye Drops Market
Antibiotic eye drops are used to treat or prevent the infection of eye and eye related infections. Many types bacteria causes the eye infections and most commonly caused eye infection is conjunctivitis. Different types of eye drops are used to treat the different types of eye infections. Broad spectrum antibiotics are primary choice for the bacterial eye infections and may be given in combinations or individually.
Market Dynamics: Antibiotic Eye Drops Market
Factors such as increase in prevalence of the eye related infections such as conjunctivitis and rise in geriatric population globally expected drive the market growth over the forecast period. In addition, increase in R&D to develop the new antibiotic eye drops, rise in awareness about the infection among the people and advancements in the diagnostic techniques projected to bolster the market growth in near future. Moreover, increase in antibiotic resistance ocular infections creating the demand for new antibiotic eye drop products in the market. However, high cost of product development and maintenance of aseptic conditions for eye drops are expected to hamper the market growth over the forecast period.
Market Scope: Antibiotic Eye Drops Market
Global bacterial conjunctivitis treatment market is segmented based on the type, application, end user and geography
Based on purpose, the market is segmented into the following:
- Prevention / Eye Care
Based on antibiotic type, the market is segmented into the following:
- Bactericidal Drops
- Bacteriostatic Drops
- Combination Drops
Based on distribution channel, market is segmented into following:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Based on region, Market is segmented into
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
Regional Analysis: Antibiotic Eye Drops Market
Geographically, global corticosteroids Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America antibiotic eye drops market projected to have the significant growth rate owing to the high incidence rates of bacterial conjunctivitis in the region. According to a recent survey published in the JAMA (Journal of the American Medical Association) over 50% of the conjunctivitis in U.S. are bacterial origin. Furthermore, presence of the key market players, recent product launches expected to boost the regional market growth over the forecast period. Europe bacterial conjunctivitis market expected to grow at notable rates owing to the presence increase in incidence of bacterial eye infections and rise in awareness. Furthermore, market players are adopting strategies such as collaborations and acquisitions to expand the market position. For instance, in December 2017, NTC Pharma and Santen Pharmaceutical Co., Ltd. has entered into commercialization agreement in which Saten Pharmaceutical Co.Ltd., brought the distribution rights of NTC Pharma R&D products aimed for treating eye related diseases. Asia Pacific antibiotic eye drops market expected to have lucrative growth opportunity due to the significant development in medical infrastructure especially in developing countries such as India and China. Furthermore, low cost of production, huge and patient base attracting the multinational players to expand into Asia Pacific region.
Competition Assessment: Antibiotic Eye Drops Market
Some of the players in the global corticosteroids Market include:
- Bausch + Lomb (U.S.)
- Abbott Laboratories (U.S.)
- Alcon (U.S.)
- Allergan plc (Ireland)
- Rohto Pharmaceutical Co., Ltd. (Japan)
- Similasan AG (Switzerladn)