U.S. Bacterial Conjunctivitis Drugs Market: Impending ‘Generics Boom’ to be Key to Potential Setback in Future Years
However, a recent report by Transparency Market Research states that the market has been sharply declining over the past few years and is expected to reduce to a valuation of US$439.8 mn by 2024 from a valuation of US$473.3 mn in 2013.
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One may ask why, despite the rising number of bacterial conjunctivitis cases, the market is expected to witness such a setback? In this blog post, TMR analysts elaborate upon the factors central to these predictions regarding the future growth prospects of the U.S. bacterial conjunctivitis market:
Impending patent expiries and rapid influx of cheaper generics replacing popular branded drugs
One of the key factors said to have the most detrimental effect on the overall growth prospects of the U.S bacterial conjunctivitis market is the imminent expirations of a patents of popular branded formulations such as Moxeza, Besivance, and Vigamox. The indisputable influx of a number of generic formulations post such patent expiries will deal a serious blow to the profitability of players operating in the market that is already known to feature intense price competition.
The loss of patent exclusivity will also have a significant impact on the competitive landscape of the U.S. bacterial conjunctivitis drugs market as it will promote the entrance of a number of new players in the market. With generics, physicians have the liberty of prescribing medications from a range of affordable options, thereby reducing the overall size of the U.S. bacterial conjunctivitis drugs market.
Cost-competitive and exceedingly fragmented vendor landscape to emerge as a key challenge for growth
Another factor explaining the tough road ahead for companies operating in the U.S. bacterial conjunctivitis drugs market is the exceedingly fragmented nature of the market’s competitive landscape. Featuring a vast number of large and small pharmaceutical companies, with the top 3 manufacturers collectively accounting for a nearly 57% of the overall market in 2013.
With the potential entry of new players to exploit the growth opportunities that the generics boom in the next few years will bring, the market is expected to become more fragmented and make competition more intense. The huge cost burden that research and development activities for novel medications levy on pharmaceutical companies will limit production activities of established companies.