Eye Drops and Lubricants Market by Type (Antibiotics, Hormones, Artificial Tears, and Others), Application (Eye Diseases, Eye Care), and Region 2023-2028

Eye Drops and Lubricants Market by Type (Antibiotics, Hormones, Artificial Tears, and Others), Application (Eye Diseases, Eye Care), and Region 2023-2028

Market Overview:

The global eye drops and lubricants market size reached US$ 19.48 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.96 Billion by 2028, exhibiting a growth rate (CAGR) of 4.81% during 2023-2028. The rising prevalence of ophthalmic disorders, increasing adoption of hormone therapy, and the burgeoning healthcare industry represent some of the key factors driving the market.

Eye drops and lubricants are used to provide relief from the symptoms of dry and irritated eyes by moistening the eyes and protecting it from infections. They are also utilized for treating redness, soreness, itching, glaucoma, refractive errors, conjunctivitis, diabetic macular edema, and age-related macular degeneration. They assist in promoting surface healing, increasing comfort by reducing the feeling of a surface scratch and flushing out any residual contaminating or injurious particles. Eye drops and lubricants comprise carboxymethylcellulose, dextran, glycerin, hypromellose, polyethylene glycol, polysorbate, polyvinyl alcohol, povidone, and propylene glycol. They are packed in multidose bottles that contain chemicals to prevent the growth of bacteria after opening bottles.

Eye Drops and Lubricants Market Trends:

At present, the rising prevalence of ophthalmic disorders, such as conjunctivitis and glaucoma, represents one of the primary factors supporting the growth of the market. Besides this, there is an increase in the demand for eye drops and lubricants due to the growing prevalence of dry eye in Sjögren's patients and postmenopausal women. This, along with the rising geriatric population across the globe, is propelling the growth of the market. In addition, the growing number of open-angle glaucoma therapeutics delivered through retail pharmacies is catalyzing the demand for eye drops and lubricants worldwide. Moreover, there is a rise in the adoption of hormone therapy to lower the risk of dry eye syndrome compared to other treatments around the world. This, coupled with the thriving healthcare industry, is strengthening the growth of the market. Apart from this, the increasing awareness among the masses about the benefits of using eye drops and lubricants to treat eye disorders is offering lucrative growth opportunities to industry investors. In line with this, the growing utilization of smartphones, laptops, television, and electronics resulting in excessive screen time is positively influencing the market. Additionally, governing agencies of several countries are undertaking initiatives to increase the production of pharmaceuticals and therapeutics products, which is contributing to the growth of the market. Other growth-inducing factors are the rising import and export of pharmaceutical and therapeutics products, technological advancements in product manufacturing, and the expanding logistics sector with easy distribution of the products.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global eye drops and lubricants market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on the type and application.

Type Insights:

Antibiotics
Hormones
Artificial Tears
Others

The report has provided a detailed breakup and analysis of the eye drops and lubricants market based on the type. This includes antibiotics, hormones, artificial tears, and others. According to the report, artificial tears represented the largest segment.

Application Insights:

Eye Diseases

Dry Eye
Glaucoma
Conjunctivitis
Refractive Errors
Others

Eye Care

A detailed breakup and analysis of the eye drops and lubricants market based on application has also been provided in the report. This includes eye diseases (dry eye, glaucoma, conjunctivitis, refractive errors, and others) and eye care. According to the report, eye diseases accounted for the largest market share.

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

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, North America was the largest market for eye drops and lubricants. Some of factors driving the North America eye drops and lubricants market included the rising prevalence of different eye disorders, such as cataract and glaucoma, the growing number of generic manufacturers, increasing investments in healthcare facilities, etc.

Competitive Landscape

The report has also provided a comprehensive analysis of the competitive landscape in the global eye drops and lubricants market. Detailed profiles of all major companies have also been provided. Some of the companies include 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report

Key Questions Answered in This Report:

How has the global eye drops and lubricants market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global eye drops and lubricants market?
What are the key regional markets?
Which countries represent the most attractive eye drops and lubricants markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the competitive structure of the global eye drops and lubricants market?
Who are the key players/companies in the global eye drops and lubricants market?