Eye-Drop And Lubricants Market Overview
Eye-Drop And Lubricants Market size is estimated to reach $24.3 billion by 2027, growing at a CAGR of 4.7% during the forecast period 2022-2027. Eye drops are saline-inclusive drops utilized as an ocular route to apply. Eye drops can include steroids, antihistamines, sympathomimetics, beta receptor blockers, parasympathomimetics, parasympatholytics, prostaglandins, nonsteroidal anti-inflammatory drugs (NSAIDs), antibiotics, antifungals, or topical anesthetics reliant on the condition being attended to. Eye drops at times do not include medicines in them and are only lubricating and tear-restoring solutions. Eye lubricants maintain the moistness of the eye, assist in safeguarding the eye from hurt and contamination, and reduce symptoms of dry eyes like burning, itching, and feeling as if some object is in the eye. Artificial tears are lubricating eye drops utilized to alleviate dryness and irritability of the ocular surface. Certain most typical prescription antibiotics (oral or topical) utilized to heal bacterial eye contaminations that are not styes or chalazion are Doxycycline, Fluoroquinolones, Tobramycin, Erythromycin, Azithromycin, Bacitracin, Cipro, or Ciprofloxacin. A dry eye is a condition in which a person is not able to generate sufficient tears to lubricate or sustain the eyes. This condition is termed dry eye syndrome or keratoconjunctivitis. The most typical kind of prescription eye drops for dry eye is cyclosporine, which assists in healing the inflammation in the eye glands and makes the eyes generate their own tears. A demulcent is a comforting, normally mucilaginous substance that is utilized to alleviate pain in inflamed or irritated mucous membranes. Polyethylene glycol (PEG) is a demulcent that shapes a guarding layer over a mucous membrane to alleviate inflammation or irritation and to maintain the ocular surface microenvironment. Polyvinyl alcohol (PVA) is a demulcent that reduces the viscosity of a solution.
The effortless and ready accessibility of eye drops like artificial tears by way of organized distribution networks of pharmaceutical firms is contributing to the vast commerce and sales and is set to drive the Eye-Drop And Lubricants Market. The surging advancements in drug discovery and development are set to propel the growth of the Eye-Drop And Lubricants Market during the forecast period 2022-2027. This represents the Eye-Drop And Lubricants Industry Outlook.
Eye-Drop And Lubricants Market Segment Analysis – By Product Type:
The Eye-Drop And Lubricants Market based on product type can be further segmented into Antibiotics, Hormones, Artificial Tears, and Others. The Artificial Tears Segment held the largest market share in 2021. This growth is owing to the burgeoning count of dry eye cases worldwide. The effortless and ready accessibility of lubricating eye drops also termed artificial tears offering moisture and alleviation for dry eye conditions owing to temporary causes such as tiredness or living in dry weather are further propelling the growth of this segment.
Furthermore, the Hormones segment is estimated to grow with the fastest CAGR of 5.4% during the forecast period 2022-2027 owing to the upsurge in the dry eye issues requiring application of artificial tears in postmenopausal women and the proliferating cases of an autoimmune disorder termed Sjögren syndrome with basic symptoms being dry mouth and dry eyes.
Eye-Drop And Lubricants Market Segment Analysis – By Application:
The Eye-Drop And Lubricants Market based on the application can be further segmented into Eye Disease, Eye Care, and Others. The Eye Disease Segment held the largest market share in 2021. This growth is owing to the surging population of the elderly worldwide and the extensive rate of occurrences of eye disorders. Typical eye diseases include Dry Eye, Glaucoma, Conjunctivitis, Refractive Errors, and Others. Mild dry eye can be treated with artificial tears. The existing malnutrition, the constant commutation, and the amplified degree of global pollution are further propelling the growth of this segment.
Furthermore, the Eye Care segment is estimated to grow with the fastest CAGR of 5.6% during the forecast period 2022-2027 owing to the raised count of cataracts and additional eye-linked surgeries that need the utilization of eye drops post surgeries. As part of eye treatment, dry eye conditions may require the application of artificial tears. The increased awareness concerning the significance of eye care is further propelling the growth of the eye care segment.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=502244
Report Price: $ 4500 (Single User License)
Eye-Drop And Lubricants Market Segment Analysis – By Geography:
The Eye-Drop And Lubricants Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Eye-Drop And Lubricants Market) held the largest share with 37% of the overall market in 2021. The growth of this region is owing to the well-entrenched healthcare infrastructure in the North American region. As per statistics on glaucoma, it is predicted that more than 3 million Americans are affected by glaucoma but only half of those are aware that they are affected by it and in the U.S., over 120,000 are blind from glaucoma, responsible for 9% to 12% of all cases of blindness. Furthermore, dry eye statistics indicate that presently between 16 million and 49 million Americans have dry eyes and this accounts for 5-15% of the population. Mild dry eye can be treated with artificial tears. The soaring concentration of key players like Bausch + Lomb (Bausch & Lomb Incorporated) and the increasing predominance of ophthalmologic disorders like glaucoma and dry eye condition are propelling the growth of the Eye-Drop And Lubricants Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like accelerated growth of healthcare infrastructure and expanding occurrences of ophthalmologic disorders like dry eye requiring the application of artificial tears. The surging healthcare initiatives by the government and the heightening population of the elderly are further fuelling the progress of the Eye-Drop And Lubricants Market in the Asia-Pacific region.
Eye-Drop And Lubricants Market Drivers
Increased Application Of Artificial Tears For Treatment Of Mild Dry Eye Is Projected To Drive The Growth Of Eye-Drop And Lubricants Market:
As per statistics on dry eye, dry eye is a typical condition in the U.S. and most frequently, people who possess dry eyes are middle-aged or older. Furthermore, approximately 4.88 million Americans aged 50 and over possess dry eyes. Of these, more than 3 million are women and 1.68 million are men. Consequent to an eye doctor confirming a dry eye diagnosis, the necessary treatment may include heightening tears, keeping up tears, prompting tear generation, and curing inflammation. For mild dry eye conditions, artificial tears are recommended. Artificial tears can be applied as required fewer than four times per day. The rising application of artificial tears for the healing of mild dry eye conditions is therefore fuelling the growth of the Eye-Drop And Lubricants Market during the forecast period 2022-2027.
Technological Innovations Are Expected To Boost The Demand Of Eye-Drop And Lubricants:
Technological innovations are driving the growth of the Eye-Drop And Lubricants market. Artificial tears find application in the treatment of mild dry eye conditions. Alcon has developed numerous innovative products for the treatment of dry eye conditions like SYSTANE® which provides true alleviation for dry eye symptoms. Every formula is planned to maintain the lubrication and comfort of the eyes and offers enduring alleviation when most required. GENTEAL® TEARS, another product by Alcon provides enduring comfort and safeguard. GENTEAL® Tears carry quick, comforting alleviation of the dry eye symptoms and serve as a defense against further irritability. ILUX® MGD TREATMENT SYSTEM by Alcon provides customized healing to assist in attending to the ‘root cause’ of Meibomian Gland Dysfunction (MGD). These kinds of technological advancements are driving the growth of the Eye-Drop And Lubricants Market during the forecast period 2022-2027.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=502244
Eye-Drop And Lubricants Market Challenges
Adverse Effects And Overdose Of Eye-Drop And Lubricants Are Challenging The Growth Of The Eye-Drop And Lubricants Market:
Continued utilization of eye drops can conceal symptoms that really need to be managed from the source, instead of just the consequences of an issue. Some medicines could bring about greatly dry eyes. Instead of persisting with treatment with eye drops, a change in medication may be beneficial. Eye drops may not perform adequately to offer enduring comfort resulting in their constant application. This can be aggravating, inconvenient and high-priced. Intruding life to administer eye drops is not a long-term solution. Emergencies need to be managed instantaneously to conserve vision, and eye drops need to be utilized only as prescribed. Lubricants may hurt if swallowed. If there is any case of overdose or severe symptoms like passing out or disturbed breathing, emergency assistance needs to be sought immediately. These issues are hampering the growth of the Eye-Drop And Lubricants Market.
Eye-Drop And Lubricants Market Landscape:
Novel product launches, mergers and acquisitions, agreements, collaborations, partnerships, joint ventures, R&D activities and regional growth are key strategies adopted by players in the Eye-Drop And Lubricants Market. Key companies of this market are:
Bausch + Lomb (Bausch & Lomb Incorporated)
Allergan Plc
Johnson & Johnson
Novartis International AG (Alcon Inc.)
Pfizer Inc.
Prestige Consumer Healthcare, Inc.
Sager Pharma Kft
ROHTO Pharmaceutical Co., Ltd.
Similasan Corporation USA
Valeant Pharmaceuticals International, Inc.
Acquisitions/Product Launches:
In July 2021, Bausch + Lomb declared the U.S. kick-off of Biotrue® Hydration Boost Lubricant Eye Drops and Biotrue® Micellar Eyelid Cleansing Wipes. The two products are preservative-free and rarely formulated with organically encouraged constituents to alleviate signs of illness connected with irritated, dry eyes. Biotrue® Hydration Boost Lubricant Eye Drops, which may be utilized while wearing soft contact lenses,* offer immediate moisture and alleviation for irritated, dry eyes.
In June 2021, Prestige Consumer Healthcare Inc. gained a portfolio of over-the-counter consumer brands from specialty pharmaceutical firm Akorn Operating Co. LLC for $230 million in currency. The portfolio is characterized by the TheraTears eye care brand, which depicts around 80 percent of portfolio revenues, and four additional brands in the VMS and cough and cold divisions. TheraTears is a physician-built brand with a legacy dating back to the mid-1970s when ophthalmologist Dr. Jeffrey Gilbard commenced research into the healing and alleviation of dry eyes.
In April 2021, Pfizer Inc. declared that it has acquired Amplyx Pharmaceuticals, Inc., a privately-held firm committed to the growth of therapies for draining and life-alarming ailments that affect people with jeopardized immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a new analytical asset under resource for the healing of intrusive fungal contaminations. Fosmanogepix possesses a new technique of action with the possibility to aim fungal strains insusceptible to accepted care therapy.
Key Takeaways
Geographically, North America Eye-Drop And Lubricants Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging acceptance of eye drops like artificial tears and lubricants and the proliferating public awareness in the North American region.
Eye-Drop And Lubricants Market growth is being driven by the soaring frequency of ophthalmologic disorders owing to the extensive screen time on electronic devices like personal computers and smartphones. However, eye drops occasionally have an adverse effect owing to numerous kinds of eye drops like artificial tears including preservatives that may generate allergic reactions in certain patients which turns a bad condition worse and certain drops may even turn eye dryness worse as the alleviation subsides and these are some of the major factors hampering the growth of Eye-Drop And Lubricants Market.
Eye-Drop And Lubricants Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Eye-Drop And Lubricants Market report.
Related Reports:
Cataract Market
https://www.industryarc.com/Research/Cataract-Market-Research-509957
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/