The Global Eye-Drop and Lubricants Market size is estimated to be USD 16.98 billion in 2019 and is predicted to reach USD 27.27 billion by 2030 with a CAGR of 4.4% from 2020-2030. Eye-Drop and Lubricants are the special formulation made for the treatment of various eye conditions such as dry eye, conjunctivitis, macular degeneration and others. It also helps in the preservation of eye sight and also reduces the eye strain and provides required relive to the patient. It also provides the required moisture to the eyes and keeps them healthy and improves the vision and also reduces the discomfort.
Market Dynamics and Trends
There have been increase in the modernization and improvement in the healthcare facilities over the period of time. Moreover, increase in technological advancement and development of infrastructure coupled with increased public awareness is expected to promote the growth of eye drops and lubricants market.
The other factors include increase prevalence of eye disorders with macular degeneration coupled with increased use of mobile phones and computers are also expected to strain on eyes or can cause dryness are also increased the demand for eye drops and lubricants market over the forecast period. However, stringent regulatory policies for approval and prolonged use of specific eye drops can cause negative impact on the eyes is expected to hamper the growth of eye drops and lubricants market. Moreover, increase in research and developments coupled with innovation led to new product launches are further expected to create numerous opportunities in the eye drops and lubricants market.
Market Segmentations and Scope of the Study:
The global eye-drop and lubricants market share is analyzed on the basis of type, application and geography. On the basis of type, the market is segmented into Antibiotics, Hormones, Artificial Tears, and Others. Based on application, the market is fragmented into eye diseases, eye care and others. The eye diseases are sub segmented into Dry Eye, Glaucoma, Conjunctivitis, Refractive Errors, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to hold major market share over the forecast period owing to the increased adoption of eye drops and lubricants. Furthermore, increased public awareness coupled with technological advancement and development of infrastructure and well developed healthcare facilities are further expected to enhance the growth of eye drops and lubricants market.
Asia Pacific is expected to show rapid growth with constant increase in market share owing to the increased prevalence of ophthalmic disorders coupled increase in geriatric population. Furthermore, increase in disposable income and product launches and increase in research and developments are further expected to contribute the growth of eye drops and lubricants market.
The eye-drop and lubricants market, which is highly competitive, consists of various market players. Some of the major market players include Allergan Plc, Akorn Consumer Health (TheraTears), Novartis International AG (Alcon Inc.), Johnson & Johnson, Prestige Consumer Healthcare, Inc., Pfizer Inc., ROHTO Pharmaceutical Co., Ltd., Sager Pharma Kft., Valeant pharmaceuticals International, Inc. (Bausch & Lomb Incorporated) and Similasan Corporation USA among others.
In the recent past various advancements taken place in the eye drops and lubricants market and also expected to takes place in near future which promotes the overall market growth. For instance, in February 2019, Bausch + Lomb, has announced that the U.S. Food and Drug Administration (FDA) has approved LOTEMAX SM (loteprednol etabonate ophthalmic gel) 0.38%, a new gel formulation for the treatment of postoperative inflammation and pain following ocular surgery. LOTEMAX SM was expertly formulated using novel SubMicron (SM) Technology to control ocular pain and inflammation after all ocular surgeries. Compared to LOTEMAX GEL (loteprednol etabonate ophthalmic gel) 0.5%, LOTEMAX SM delivers a submicron particle size for faster drug dissolution in tears, and provides two times greater penetration to the aqueous humor.
- The eye-drop and lubricants market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the eye-drop and lubricants market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the eye-drop and lubricants market is provided in the report.
- The competitive analysis of the market players along with their market share in the global eye-drop and lubricants market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Eye-Drop and Lubricants market – By Type
- Artificial Tears
- Global Eye-Drop and Lubricants market – By Application
- Eye Diseases
- Dry Eye
- Refractive Errors
- Eye Care
- Eye Diseases
- Global Eye-Drop and Lubricants market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America