Eye Infection Treatment Market to See a Temporary Slump in Revenues During COVID-19 Pandemic
Eye infection treatment providers are anticipated to be moderately hit by disruptions in the development and commercialization of new treatment options, further resulting in delays.
With most healthcare professionals and resources of eye infection treatments being redirected towards combating the global coronavirus outbreak, the pandemic has adversely impacted market players in terms of economic and operational constraints in the global eye infection treatment market. However, in long term, rapid advancements in eye infection treatment technologies would continue to drive revenues to the eye infection treatment market. The market has been projected to reach a value pool of US$ 10 Bn through 2030, states a new Future Market Insights (FMI) study. Reduced rate of visits at eye hospitals and the subsequent fall in demand for eye treatment would continue through the first quarter of 2021, as projected by the report.
“The demand for eye infection treatment will continue to grow strong, with increasing patient awareness about the myriad types of available treatments, further supported by technological advancements in the field of ophthalmology once the outbreak subsides,” says the FMI analyst.
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Key Takeaways of Eye Infection Treatment Market Study
- Antibiotic eye infection treatments will continue to lead, with a strong upsurge in adoption at public and private hospital pharmacies. However, corticosteroids are rapidly becoming mainstream among ophthalmologists.
- Eye drops are likely to remain highly sought-after, in comparison to ophthalmic ointments, which are likely to display steady growth.
- Eye infection treatments are being used extensively for conjunctivitis treatments, while blepharitis cases are witnessing a strong rise.
- North America is a major regional market for eye infection treatments, owing to the presence of several leading market players, and faster access to tech advances in the field.
Eye Infection Treatment Market – Key Growth Factors
- An increasingly aging global population with preventable or treatable vision problems is one of the primary factors aiding market growth.
- Government initiatives to raise public awareness for ophthalmic disorders are creating lucrative growth opportunities.
- Investments in modernization of healthcare infrastructure, particularly in developing economies is a key driver.
- The growing trend of revenue from online pharmacies and in line drug stores support the market growth during the forecast period.
Eye Infection Treatment Market – Key Restraints
- Side effects associated with the use of corticosteroid eye infection treatments continue to be the key restraint to sales.
- High capital requirements for the development of new eye infection treatment options is hindering market growth.
Impact of COVID-19 on Eye Infection Treatment Market
The coronavirus pandemic has resulted in major economic and operational challenges. It has resulted in delayed development and commercialization of new eye treatment options. This trend is likely to continue through the end of 2020. In addition, local governments are redirecting healthcare resources towards the pandemic, slowing down the market for the short term. The demand-supply imbalance in eye infection treatment market that has led to reductions in ocular surgeries. The market will move towards recovery by the beginning of Q1 2021. The recovery will be driven by easy access to treatment infrastructure after the end of the outbreak.
Competitive Landscape of Eye Infection Treatment Market
Some of the major companies profiled in this FMI report include, but are not limited to Eyevance Pharmaceuticals LLC, Pfizer Inc, Lupin Limited, Allergan plc, Aurobindo Pharma, Alcon Laboratories Inc., Mylan N.V., Akron Pharma Inc., Bausch Health Companies, Teva Pharmaceutical Industries, and Sanofi S.A. Prominent players in the eye infection treatment market are primarily investing in new technologies and formulations in addition to strategic collaborations for licensing contracts with a wide range of commercialization partners.
Explore the full eye infection treatment market report with 126 illustrative figures, 63 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-1300
More About the Report
This FMI study of 250 pages provides all-inclusive insights on the global eye infection treatment market. The market analysis is based on drug class (antibiotics, antivirals, antifungals, antihistamines, corticosteroids, and glucocorticoids), dosage form (tablet, capsule, ophthalmic ointment, eye drops, and others), indications (conjunctivitis, keratitis, endophthalmitis, blepharitis, stye, uveitis, cellulitis, and ocular herpes), causative agents (virus, bacteria, fungus, and allergens), and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, and drug stores), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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