IMARC Group, a leading market research company, has recently released a report titled "Eye Drops and Lubricants Market Report by Type (Antibiotics, Hormones, Artificial Tears, and Others), Application (Eye Diseases, Eye Care), and Region 2024-2032". The study provides a detailed analysis of the industry, including the global eye drops and lubricants market share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global eye drops and lubricants market size reached US$ 21.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.
Request to Get the Sample Report: https://www.imarcgroup.com/eye-drops-lubricants-market/requestsample
Factors Affecting the Growth of the Eye Drops and Lubricants Industry:
- The Rising Geriatric Population:
The rising geriatric population is one of the most significant factors driving the market growth. As people age, they are more likely to experience various eye-related conditions, such as dry eye syndrome, cataracts, and glaucoma. The natural aging process leads to a decline in tear production and changes in tear composition, which often results in dry eyes. This demographic shift increases the demand for eye drops and lubricants as more geriatric individuals seek relief from age-related eye conditions. Moreover, the geriatric population tends to have higher healthcare needs and is more proactive in seeking medical advice and treatment, further boosting the market growth. Besides this, the prevalence of chronic diseases such as diabetes, which can lead to diabetic retinopathy and other eye complications, is acting as another growth-inducing factor.
- Prevalence of Eye Disorders:
The increasing prevalence of eye disorders is a crucial factor driving the growth of the eye drops and lubricants market. Eye conditions such as dry eye syndrome, allergic conjunctivitis, and chronic eye inflammation are becoming more common across all age groups. The rising incidence of these conditions is often attributed to modern lifestyle factors such as increased screen time, leading to digital eye strain and exposure to environmental pollutants. This growing burden of eye disorders underscores the need for effective treatments, thereby propelling the demand for eye drops and lubricants. Additionally, awareness campaigns and improved diagnostic techniques have made people more vigilant about their eye health, leading to higher usage of these products, which is contributing to the market expansion.
- Increased Screen Time:
The pervasive use of digital devices, including smartphones, tablets, computers, and televisions, has become an integral part of daily life for people of all ages. Prolonged exposure to screens is known to cause digital eye strain, characterized by symptoms such as dryness, irritation, blurred vision, and headaches. This condition arises because people tend to blink less frequently when using digital devices, leading to decreased tear production and increased tear evaporation. To mitigate the discomfort and potential damage caused by prolonged screen exposure, many individuals turn to lubricating eye drops to keep their eyes moist and comfortable. This growing reliance on digital devices and the consequent rise in digital eye strain is driving substantial demand for eye drops and lubricants as people seek quick and effective solutions to maintain eye health in the digital age.
Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=6814&flag=C
Eye Drops and Lubricants Market Report Segmentation:
By Type:
- Antibiotics
- Hormones
- Artificial Tears
- Others
Artificial tears hold the majority of the market share because they are widely used for the treatment and management of dry eye syndrome, a common condition affecting millions globally.
By Application:
- Eye Diseases
- Dry Eye
- Glaucoma
- Conjunctivitis
- Refractive Errors
- Others
- Eye Care
Eye diseases accounted for the largest market share due to the high prevalence of conditions like dry eye syndrome, glaucoma, and allergic conjunctivitis, which require regular use of eye drops and lubricants.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America's dominance in the market is attributed to its advanced healthcare infrastructure, high awareness of eye health, and significant investment in research and development (R&D) for innovative eye care solutions.
Global Eye Drops and Lubricants Market Trends:
The growing pollution and exposure to environmental irritants, which contribute to eye discomfort and dryness, increasing the use of lubricating eye drops, is propelling the market growth. Additionally, the improved awareness and diagnosis of eye conditions among the population, thanks to better healthcare infrastructure and awareness campaigns, is driving the market growth. Besides this, recent innovations in eye drop formulations, such as preservative-free drops, longer-lasting lubricants, and products for specific conditions, are catalyzing the market growth. Furthermore, the increasing incidences of allergies and related eye symptoms are contributing to the market expansion.
Top Companies Operated in Eye Drops and Lubricants Industry:
- Akorn Operating Company LLC
- Alcon
- Allergan Plc (AbbVie Inc.)
- Bausch & Lomb Incorporated
- Bayer AG
- Johnson & Johnson
- Maya Biotech Private Limited
- Prestige Consumer Healthcare Inc.
- Rohto Pharmaceutical Co. Ltd.
- Sager Pharma Kft
- Similasan Corporation
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
