Latest News- Low-Concentration Atropine Market: Atropine sulfate 0.01 percentage is expected to lead the Type segment during 2024-2028

The Low-Concentration Atropine Market is being driven by Increasing prevalence of myopia

The Low-Concentration Atropine Market is expected to grow at a CAGR of 18.81% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1039.97 million. In the global low-concentration atropine market, vendors are prioritizing research and development (R&D) to create innovative therapies for myopia treatment. Pharmaceutical and biopharmaceutical companies are increasing their R&D investments, fostering the advancement of eye disease treatments. Notably, Vyluma's CHAMP (Childhood Atropine for Myopia Progression) Study, which assessed the efficacy of NVK002, a low-dose atropine solution, in the second stage of Phase III, was recently completed in October 2023. The New Drug Application (NDA) for NVK002 is currently under FDA review, with a decision anticipated in January 2024. 

Get more information on Low-Concentration Atropine Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Atropine sulfate 0.01 percentage
  • Atropine sulfate 0.025 percentage
  • Atropine sulfate 0.05 percentage
• Application
  • Child
  • Adult
• Geography
  • Asia
    • China
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of myopia
• Rising awareness regarding vision care
• Growing demand for vision correction among aging population

However, the market also witnesses some limitations, which are as follows:

• Side effects and uncertainty in efficacy of low-concentration atropine
• Shortage of skilled ophthalmologists
• High cost of myopia treatment

Benefits of Buying Global Low-Concentration Atropine Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Low-Concentration Atropine Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Low-Concentration Atropine market encompasses the use of Atropine Sulfate as a mydriatic and cycloplegic agent in ophthalmic applications. In pediatric and adult ophthalmology, low dose Atropine is employed for various purposes such as refractive error correction, amblyopia treatment, strabismus management, retinal examination, contact lens fitting, and ophthalmological surgery. The therapeutic index of Atropine is crucial for safe and effective use, influencing drug metabolism, elimination, plasma concentration, and ocular penetration. Therapeutic monitoring, clinical endpoint assessment, safety evaluation, quality control, ocular irritation, allergic reactions, patient selection, dosage regimen, and medication adherence are essential considerations in the use of this ophthalmic drug.

Market Research Overview

The low-concentration atropine market is a segment of the larger global pharmaceuticals market, which is a key component of the healthcare industry. According to Technavio, the global pharmaceuticals market, encompassing entities involved in R&D and manufacturing of various drug types, including generic and non-generic, was valued at USD1,495.51 billion in 2023. Factors driving the growth of this market include an aging population leading to increased demand for healthcare and pharmaceuticals, as well as advancements in drug research and development. Specifically within the low-concentration atropine market, the drug's ocular accommodation effects, including mydriasis and cycloplegia, contribute to improved refraction accuracy and intraocular pressure management in various ophthalmic applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/