Eye Drops and Lubricants Market

Eye Drops and Lubricants Market - An Overview

The global eye drops and lubricants market is expected to witness strong growth during the forecast period between 2021 and 2031.

The last decade has witnessed steady rise in patients suffering from different eye diseases, which has fueled the demand for eye drops and lubricants.

Also as artificial tears, eye drops and lubricants have been extensively used to help achieve relief from irritation in the eye and protect the organ from infections.

Some of the disorders that are cured using eye drops and lubricants include conjunctivitis, refractive errors, dry eye, itching, redness, and CMV retinitis.

Eye Drops and Lubricants Market - Trends and Opportunities

Rising prevalence of ophthalmic diseases worldwide is the key growth driver of eye drops and lubricants market.

Also, increasing focus on drug discovery and development is expected to help create revenue-generating opportunities for leading players in overall eye drops and lubricants market, in years to come.

In addition to this, rising adoption of hormone therapy is projected to trigger the demand for eye drops and lubricants and boost the market growth, in the coming years.

Furthermore, advancements to existing eye drops and lubricants could fuel product demand and augment the growth in overall market, in years to come.

Government initiatives and measures, spreading awareness about the benefits of using eye drops and lubricants to treat eye disorders could boost the growth in overall market, in the coming years.

Artificial tears type segment is expected to emerge as largest contributor, in terms of revenue, to overall market because of increasing prevalence of dry eye syndrome in prominent countries worldwide.

Eye Drops and Lubricants Market - Competitive Landscape

The global eye drops and lubricants market is competitive, with the presence of numerous well-established market players. Many of these players are expected to account for a large share in overall market, in the coming years.

It is anticipated that entry of new players will intensify the competition in global market, in years to come.

New product launches could help leading eye drops and lubricants market players in gaining an edge over other market players and in creating revenue-generating opportunities, in future.

R&D undertakings could be key, revenue-generating growth strategy for prominent eye drops and lubricants market players, in the years ahead.

Other growth strategies such as signing of collaborative agreements with smaller players could help well-established eye drops and lubricants market players in expanding their presence in global market and increasing their revenue shares.

Few leading players in global market include Prestige Consumer Healthcare, Inc., Johnson & Johnson, Pfizer, Inc., ROHTO Pharmaceutical Co., Ltd., and Novartis International AG (Alcon Inc.)

Eye Drops and Lubricants Market - Regional Assessment

The global eye drops and lubricants market is classified into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America is expected to emerge as maximum revenue-generating region in global eye drops and lubricants market owing to rising prevalence of different eye disorders such as cataract and glaucoma in countries such as the U.S. and Canada.

Asia Pacific is anticipated to witness revenue-generating opportunities for players in overall eye drops and lubricants market because of factors such as increasing number of patients suffering from ophthalmic diseases as well as improving healthcare infrastructure in countries such as India and China.

Europe is projected to witness strong growth in global eye drops and lubricants market due to increasing approvals for new drugs by FDA in countries such as the U.K. and Germany.

Other regions of the world such as Middle East and Africa and Latin America are expected to witness moderate growth in global market, in the coming years.