Global Eye Drops and Lubricants Drugs Market – Industry Trends and Forecast to 2029

Indication (Conjunctivitis, Dry Eye, Glaucoma, Refractive Errors, Others), Type (Antibiotics, Hormones, Artificial Tears, Others), Route of Administration (Oral, Topical, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.

Eye Drops and Lubricants Drugs Market Analysis and Size

The eye drops and lubricants drugs market is expected to witness significant growth during the forecast period. Emerging markets and huge investment in research and development are the factors responsible for the growth of this market. The growth of eye drops and lubricants drugs market enhanced by the growing cases of ophthalmic disorders such as conjunctivitis and glaucoma and the rise in research and development activities conducted by many pharmaceutical companies. COVID-19 also had a major impact on the market growth.

 Data Bridge Market Research analyses a growth rate in the eye drops and lubricants drugs market in the forecast period 2022-2029. The expected CAGR of global eye drops and lubricants drugs market is tend to be around 5.0% in the mentioned forecast period. The market was valued at USD 18.5 million in 2021, and it would grow upto USD 27.33 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Most people are suffering from eye problems that need special care in terms of eye drops and lubricants. These eye disorders can be treated by using eye drops and lubricants which are more effective and less painful. Symptoms such as dry eye, redness, soreness, itching, glaucoma, refractive errors, conjunctivitis, diabetic macular edema, and age-related macular degeneration can be treated through this effectively. Eye drops and lubricants drugs, also termed as artificial tears, are the class of therapeutics that are widely used to concomitant relief from the symptoms of dry and irritated eyes by moistening the eyes and protecting it from further infections.

Eye Drops and Lubricants Drugs Market Scope and Segmentation

Global Eye Drops and Lubricants Drugs Market Dynamics

Drivers

• Increase in Geriatric Population

The geriatric population is expected to increase the patient population globally, which boots the global eye drops and lubricants drugs market in the forecast period. According to the WHO, the global elderly population is expected to reach around 2 billion by 2050 from 617 million in 2015. This boost the market growth.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• Increase Adaptation of Hormone Therapy

The rising adaptation of hormone therapy which includes hormone eye drops and lubricants are boosting the market growth.  The rising incidence of dry eye in Sjögren's patients and postmenopausal women globally are prompting market growth.

• Increasing Demand for Retail Pharmacies

The rise in the number of open angle glaucoma therapeutics delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to treat the patients with appropriate eye lubricants could curb the growth of the global eye drops and lubricants drugs market over a forecast period.

• Risk of Side-Effects

The associated side effects that comes with the application of eye drops and lubricant drugs hampers the market growth. Serious side-effects such as eye pain, change in vision, continued eye redness/irritation and severe side effects such as allergy hampers the market's growth.  

This eye drops and lubricants drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the eye drops and lubricants drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Eye Drops and Lubricants Drugs Market      

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials. Eyes are a point of contact for the entry or exit through direct aerosol inoculation. In addition to this, the hands of a patient are also a point of contamination for patients as the hands of a patient can touch the tear secretions and may lead to transmission of the virus. Thus, this will leave a significant impact on the eye drops and lubricants drugs market.

Global Open Angle Glaucoma Market Scope

The l eye drops and lubricants drugs market is segmented on the basis of indication, type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

• Conjunctivitis
• Dry Eye
• Glaucoma
• Refractive Errors
• Others

Type

• Antibiotics
• Hormones
• Artificial Tears
• Others

Route of Administration

• Oral
• Topical
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Eye Drops and Lubricants Drugs Market Regional Analysis/Insights

The eye drops and lubricants drugs market is analysed and market size insights and trends are provided by indication, type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the eye drops and lubricants drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe has been witnessing a positive growth for eye drops and lubricants drugs market throughout the forecasted period due to the high prevalence of ophthalmic disorders and increase in number of FDA approval drugs.

North America dominates the market due to the developing healthcare facilities, large number of generic manufacturer and rise in government initiatives and specialist communities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.    

Competitive Landscape and Global Eye Drops and Lubricants Drugs Market Share Analysis

The eye drops and lubricants drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related eye drops and lubricants drugs market

Key players operating in the eye drops and lubricants drugs market include:

• Bausch Health Companies Inc. (U.S.)
• Merck & Co. Inc. (U.S.)
• Pfizer Inc. (U.S.)
• Fera Pharmaceuticals (U.S.)
• Teva Pharmaceutical Industries Ltd. (Israel)
• EyePoint Pharmaceuticals,Inc (U.S.)
• Amorphex Therapeutics Holdings, Inc (U.S.)
• Kubota Vision Inc (U.S.)
• Alcon Vision LLC (Switzerland)
• Astellas Pharma Inc. (Japan)
• Bayer AG (Germany)
• Novartis AG (Switzerland.)
• Nidek Co Ltd (India)
• Prestige Consumer Healthcare Inc. (U.S.)
• Maya Biotech Private Limited (India)