Eye-Drop And Lubricants Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

 

Eye-Drop And Lubricants Market Overview:

As per a report by Cable News Network (CNN), Americans devote more than 10 hours a day to screen time on various multimedia devices like smartphones and personal computers, and this trend is estimated to grow.[1] Owing to this and several other factors such as poor nutritive consumption; increased usage of mobiles and laptops; frequent travelling and rising pollution levels; increased frequency of eye diseases and disorders including redness, itching, soreness, conjunctivitis, dry eye refractive errors, diabetic macular edema, and CMV retinitis, there has been a significant boost to the ophthalmology branch of healthcare. The global eye-drop and lubricants market is thus capitalizing on this global epidemic, and attained a market size of $16.24 billion in 2018. With increasing geriatric population and imperative digitalization enforcing increased screen time among individuals, the market is estimated to progress at a CAGR of 4.51% during the forecast period 2019-2025.

Eye-Drop And Lubricants Market Outlook:

Eye diseases are a global phenomenon but regions with severe pollution and higher incidence of toxic industrial releases tend to report a comparatively higher number of ophthalmologic disorders. APAC, with densely populated economies such as China and India, is a nucleus of uncontrolled industrial waste; which has led to an influx of investments into eye care facilities. This region led the eye-drop and lubricants market in 2018 with a demand share of 33.50%.

On the basis of application, the eye-drop and lubricants market is segmented into eye diseases and eye care. The eye disease segment is the fastest growing segment due to universal growth in the frequency of eye diseases and increase in the geriatric population. The eye diseases segment, comprising of conjunctivitis, glaucoma and refractive error, is estimated to be growing at a CAGR of 4.34% going through 2025.

Eye-Drop And Lubricants Market Growth Drivers:

·         Rise in the number of cataract and other eye-related surgeries, that require the use of eye drops after procedure, is a major growth driver for the eye-drop and lubricants market. In addition, government initiatives such as National Programme for Control of Blindness (NPCB) is increasing awareness of the need for eye care among individuals; while easy availability of eye drops via organized pharmaceuticals’ distribution networks is adding to the voluminous trade and sales.   

 

·         The dry eye syndrome market is adding lucrative opportunities to the eye-drop and lubricants marketplace with demand rampant up for artificial tears. Artificial tears are lubricating eye drops and gels that are used to add moisture to the eye, and its market is estimated to be progressing at a CAGR of 3.6% going through 2023, consequently catapulting the major market.

  

·         The Indian government’s initiative to combat preventive blindness with its VISION 2020: The Right to Sight is a key driver of the International Agency for the Prevention of Blindness (IAPB) and World Health Organisation (WHO). Such cooperative initiatives for eliminating avoidable blindness highlight the dire need for eye care among the masses and aid associated markets.

 

·      Leading eye-care chain in India, Dr. Agarwal‘s Healthcare Ltd. (DAHCL) has raised an investment of $3,89,85,300 $38.98m from Temasek, a global investment company. The funding will be utilized to develop the brand, and purchase technologically advanced equipment for providing super specialty eye care in India. Such developments in eye-care facilities is expected to give a strong momentum to the eye-drop and lubricants market.

 

·         In 2019, Bausch + Lomb received the U.S. Food and Drug Administration (FDA) approval for its Lotemax SM ophthalmic gel 0.38%, to be used for treatment of postoperative inflammation and pain after eye surgery, including for cataract surgery. Approvals by elite and trusted organizations like FDA aids in adding a layer of authenticity to market products, which is a major factor propelling market growth.

Eye-Drop And Lubricants Market Challenges:

The application of artificial tears is accompanied by numerous side effects such as long-term irritation and blurred vision, which is a major challenge for the eye-drop and lubricant market. However, increasing investments into R&D are developing new products without such drawbacks. The introduction of innovative lipid emulsions and hyaluronic acid-based lubricants that are replacing artificial tears, which contain isotonic sodium chloride, is one such example.

Eye-Drop And Lubricants Market Players Perspective:             

Some of the key players operating in the eye-drop and lubricants market are Akorn Consumer Health (TheraTears), 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, and Valeant pharmaceuticals International, Inc. and Bausch + Lomb (Bausch & Lomb Incorporated).

In 2019, Akorn publicized its FDA approval for loteprednol etabonate ophthalmic suspension, a generic treatment for post-operative inflammation following ocular surgery and other inflammatory conditions.

Eye-Drop And Lubricants Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the eye-drop and lubricants market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of innovations in global eye-drop and lubricants market, and their specific advantages to the market.

The Eye-Drop And Lubricants Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

 

Key Questions Addressed in the Eye-Drop And Lubricants Market Report

1.         Is the market for eye-drop and lubricants? How long will it continue to grow and at what rate?

2.         Which type of segment presents the major growth opportunities?

3.         Is there a possibility for change in the market structure over time? 

4.         Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

5.         Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

6.         What are the short-term, long-term, and medium-term growth drivers for the market?

7.         What are the short-term, medium-term, and long-term challenges for the market?

8.         What are the short-term, medium-term, and long-term opportunities for the market

9.         Who are the top players/companies of the market?

10.       What are the recent innovations in the market?

11.       How many patents have been filed by the leading players?

12.       What are the types of patents filed by the leading players?

13.       What is our Vision 2030 Eye-Drop And Lubricants market?

A few focus points of this Research are given below:

•           Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies

•           Provide an overview of the product portfolio, including product planning, development, and positioning

•           Discuss the role of technology companies in partnerships

•           Explore the regional sales activities

•           Analyze the market size and giving the forecast for current and future eye-drop and lubricants market during the forecast 2019–2025

•           Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.

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