LONDON--(BUSINESS WIRE)--The global blepharitis drugs market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.
Monotherapy remains the preferred choice of treatment for blepharitis. However, combination products are generally used only when monotherapy has not provided the required benefits. The combination therapies, largely used for treating blepharitis, are used to combat drug resistance caused by pathogens. Usually, combination drugs aim at different targets or pathways to combat the disease with minimal adverse effects. Also, combination therapies improve the tolerability as two compounds can be employed below their dose thresholds. Therefore, the use of a combination of steroids and topical agents has been increasing over the years due to their higher efficacy compared with monotherapies. Hence, the advantages of combination therapies compared with monotherapy are driving the increase in the use of combination drugs, which is expected to drive market growth during the forecast period.
As per Technavio, the development of novel drug formulations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global blepharitis drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Blepharitis Drugs Market: Development of Novel Drug Formulations
Antibiotics and steroids are the most commonly used drugs for the symptomatic treatment of blepharitis, as the market does not have any novel approved drugs. However, there is a high unmet demand for novel therapies with fewer side-effects and higher efficacy. Therefore, several companies are developing novel therapies to treat blepharitis. For instance, Nicox SA (Nicox) is developing NCX 4261 (fluticasone propionate), a novel patented ophthalmic suspension of nanocrystals molecule. It is a targeted topical treatment of the eyelid margins for patients with acute exacerbations of blepharitis. NCX 4261 can be applied directly with a swab to the inflammatory site. This minimizes the potential penetration of the drug through the cornea, which can result in the damaging side effects associated with current off-label steroids. Thus, such advancements in drugs are expected to boost market growth during the forecast period.
“Apart from the development of novel drug formulations, the increase in funding for research on ophthalmic diseases and the growing awareness about eye diseases are some other major factors that are expected to drive market growth during the forecast period,” says a senior analyst at Technavio.
Global Blepharitis Drugs Market: Segmentation Analysis
This market research report segments the global blepharitis drugs market by product (steroids and antibiotics) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW, respectively. However, during the forecast period, the North American and APAC region is expected to maintain its register the highest incremental growth due to the presence of large pharmaceutical companies that offer branded and generic drugs; and the availability of low-cost generics respectively.
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