Global demand for tobramycin eye drop market was valued at approximately USD 1447.73 million in 2018 and is expected to generate revenue of around USD 1992.13 million by end of 2025, growing at a CAGR of around 4.68% between 2019 and 2025.
Tobramycin Eye Drop Market
The report covers forecast and analysis for the tobramycin eye drop market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the tobramycin eye drop market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the tobramycin eye drop market on a global level.
As per the report, the global demand for tobramycin eye drop market was valued at approximately USD 1447.73 million in 2018 and is expected to generate revenue of around USD 1992.13 million by end of 2025, growing at a CAGR of around 4.68% between 2019 and 2025.
Ophthalmic tobramycin (for the eyes) is used to treat eye bacterial infections. Tobramycin ophthalmic won't treat an eye infection that is viral or fungal. Tobramycin ophthalmic is only used to treat infections of bacteria. Worldwide the use of tobramycin eye drops has alarmingly increased due to the upsurge in the eye infections. In hot climatic weather and among Afro-Caribbeans, Arabs, and Asians, eye infections are more common and less common among white communities. Eye infection is often diagnosed and handled very carefully; it is more common in the adult population than in pediatrics. In specific, the increase in demand depends on the launch of fresh drugs, such as eye drop or eye ointment. The other reason the market can drive is the evolving demographics of the population in the corresponding economies. The increasing incidence of blindness among the geriatric population is another factor driving the eye infection industry and, in turn, the tobramycin eye drop market.
Based on product, the market is segmented into tobramycin and dexamethasone ophthalmic suspension, tobramycin ophthalmic suspension, and other tobramycin combination. Among the product segment, tobramycin ophthalmic suspension product segment is most commonly used as it is commonly available and has bare minimum side-effects as compared to the other tobramycin variants.
Children application segment dominated the market in terms of revenue in 2018 owing to more occurrences of ophthalmic infections in children like conjunctivitis, also known as "pink eye," is a prevalent, extremely contagious eye infection that is often transmitted in daycare facilities, schools, and comparable settings among kids. Teachers and daycare employees are also at enhanced pink eye danger when working with young kids in close quarters. Common types of infectious conjunctivitis often originate from the virus or bacteria. Children may also create conjunctival eye infections (gonococcal and chlamydial conjunctivitis) when a mom has a birth-related sexually-transmitted disease.
Geographically, owing to greater understanding of health care, elevated incidence of disease, and elevated diagnostic rates, North America was found to have the biggest share of the tobramycin eye drop market. This was followed by Europe owing to increasing studies and growth the region contributed second biggest share of the eye infection therapy industry. However, owing to increased awareness, increased personal care and hygiene, increased diagnostic rates, gradual implementation of enhanced techniques, increased disposable income, and developing health care infrastructures, Asian nations are anticipated to be the fastest growing. Latin America and the Middle East & Africa follow the Asia Pacific. Another factor leading to the development of the tobramycin eye drop industry is increasing geriatric population as the elderly population is at high danger of developing eye infection.
Some of the key players in tobramycin eye drop market include Novartis AG, Akorn, Incepta Pharmaceuticals, Bausch & Lomb Pvt. Ltd., among others.