Mydriasis Market Competitive Landscape: Mergers, Acquisitions, and Collaborations

Triveni Triveni
Published on Apr 17, 2023

The global Mydriasis Market is projected to grow at a significant revenue CAGR due to an increase in the prevalence of brain injuries, eye trauma, and changing lifestyles. The growing use of antihistamines and anticholinergics is expected to lead to pupil dilation, contributing to the growth of the market. The market will also be driven by advances in medical technology, increased government support, and rising public and private initiatives to increase awareness of eye diseases. The market drivers for mydriasis include increased incidences of benign episodic pupillary mydriasis, cranial nerve neuropathy, eye trauma, and elevated rates of brain damage from physical trauma or a stroke. The use of mydriatic eyedrops during eye exams is also expected to contribute to market growth as more people become aware of the importance of regular eye exams.

However, factors such as patient noncompliance, poor medication adherence, high treatment costs, low awareness, and a shortage of qualified healthcare personnel are expected to limit market growth. Opportunities for growth in the global mydriatic market include increased investment in research & development and clinical trials, leading to a strong product pipeline. Also, the approval of new drugs is expected to contribute to the commercialization of innovative treatments in the future.

The North American market is expected to dominate the global mydriasis market due to a high prevalence of mydriasis and the development of better therapies under the direction of major pharmaceutical corporations. On the other hand, the Asia Pacific region is expected to grow the fastest due to an increasing prevalence of the condition, rising levels of disposable income, the development of healthcare infrastructure, and increased government initiatives. The market for mydriasis also features key trends and innovations, such as the development of Nyxol, a novel eye drop drug candidate being developed by Ocuphire Pharma, Inc. for various eye problems. The market has also seen the adoption of both organic and inorganic strategies by companies, such as Eyenovia, which was granted a Complete Response Letter by the FDA for its unique combination of tropicamide and phenylephrine for in-office pupil dilation.

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Major companies in Mydriasis Market:

  • Ocuphire Pharma, Inc.
  • Eyenovia Inc.
  • Omeros
  • Pfizer Inc.
  • GlaxoSmithKline plc.
  • Teva Pharmaceutical Industries Ltd.
  • Novartis AG
  • Bayer AG
  • Allergan
  • Merck & Co., Inc.
  • Bausch Health Companies Inc.
  • Rexahn Pharmaceuticals

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Driving Factors in Mydriasis Market:

  1. Increased prevalence of brain injuries and eye trauma.
  2. Changing lifestyles.
  3. Increased usage of drugs such as antihistamines and anticholinergics.
  4. Improvements in medical technology.
  5. Rising government support.
  6. Rising public and private sector initiatives to raise awareness of eye illnesses.
  7. Increased awareness of the importance of regular eye exams.
  8. Strong product pipeline resulting from increased investments in research & development and increased spending on clinical trials.
  9. Product innovations, mergers and acquisitions, new advancements, joint ventures, collaborations, and partnerships.
  10. Improved reimbursement policies, such as OMIDRIA.

Restraint in Mydriasis Market:

One major restraint in the mydriasis market is the potential side effects associated with mydriatic eye drops. These side effects can include temporary blurred vision, sensitivity to light, eye irritation, and dryness. Additionally, some patients may have an allergic reaction to the eye drops, which can cause swelling, redness, and other symptoms. These side effects can deter some patients from using mydriatic eye drops, or may require them to avoid certain activities such as driving or operating machinery until the effects wear off. This can limit the market potential for mydriatic eye drops and impact their overall adoption and usage.

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Notable Innovations in Mydriasis Market:

  1. Combination formulations: Several companies have developed combination formulations that include both a mydriatic agent and a topical anesthetic, reducing the need for separate administration of the two agents.
  2. Non-invasive mydriasis: There has been a growing interest in non-invasive methods of inducing mydriasis, such as using light or electrical stimulation.
  3. Digital pupillometry: This technology uses a digital camera to measure pupillary size, which can provide more accurate and objective measurements of pupil dilation compared to traditional methods.
  4. Longer-lasting mydriasis: Some companies have developed mydriatic agents that provide longer-lasting dilation, reducing the need for repeated administration.
  5. Safer mydriasis: There has been a focus on developing mydriatic agents with fewer side effects, particularly those that do not affect the cardiovascular system or cause systemic toxicity.

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