New York, NY, Feb. 16, 2024 (GLOBE NEWSWIRE) -- A latest research report [115+] pages with 360-degree visibility, titled “Ophthalmic Eye Dropper Market Share, Size, Trends, Industry Analysis Report, By Drug Type (OTC drugs, Prescription drugs); By Type; By Treatment Type; By Region; Segment Forecast, 2024- 2032" published by Polaris Market Research in its research repository.
The global ophthalmic eye dropper market size and share are currently valued at USD 13.44 billion in 2023. It is anticipated to generate an estimated revenue of USD 22.93 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 6.2% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.
Market Definition
- What is Ophthalmic Eye Dropper? How Big is Ophthalmic Eye Dropper Market Size and Share?
There are several eye drops obtainable, spanning from over-the-counter eye drops to eye drops, that will be handed out with appropriate recommendations only. The rapidly rising demand for ophthalmic eye dropper market can be attributed to the most secure eye drops, which can be bought over the counter and utilized securely are the lubricating eye drops, which offer wetness amplify the natural tears, and assist the tear film operation more productively to safeguard the surface of the eye. The common ones are Carboxymethylcellulose, Hydroxy propyl methyl cellulose, Sodium hyaluronate, and so on. When one encounters an eye infection giving rise to redness, tearing, and release, antibiotics might be utilized as the premier line of management as exigency prior to inflicting the ophthalmologist.
The ophthalmic eye dropper market growth can be attributed to escalated eye cure research and development funding, causing the advancement of more productive and effortlessly adjustable customized to manifold eye-connected situations. Additionally, the escalating worldwide maturing populace aids in a growing prevalence of eye illnesses such as cataracts, and glaucoma, as a result intensifying the demand.
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Ophthalmic Eye Dropper Market Key Companies
- AbbVie Inc.
- Alcon
- AptarGroup, Inc.
- Bausch & Lomb Incorporated
- Novartis AG
- Pfizer
- Silgan Dispensing Systems
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Key Highlights
- The escalating worldwide maturing populace aids in a growing prevalence of eye illnesses, which is pushing market expansion.
- The ophthalmic eye dropper market segmentation is primarily segmented based on drug type, type, treatment type, and region.
- North America dominated the market in 2023.
Market Developments
- Growth Drivers:
Eye illnesses: The pervasiveness of eye conditions involving customary proceedings such as glaucoma, withered eyes, and allergies is surging globally. The ophthalmic eye dropper market size is expanding as more persons are encountering these eye-associated health problems, and there is an escalating demand for productive solutions to handle and relieve indications. Ophthalmic eye droppers play an important role in communicating these conditions, offering an earmarked and agreeable method for distributing medicines and restorative prescriptions instantly to the eyes.
Digital progression: The world is becoming digitally progressive and mechanized in every facet of life. The lifestyle alterations, the character of work, and life hang on screens. The ophthalmic eye dropper market sales are soaring as the extended screen subjection has caused surging eye illnesses and infections. The environmental alterations linked with climate change also cause a surge in eye infections and diseases. The growing usage of smartphones, laptops, PCs, and tablets for academic, enjoyable, and work intention causes a surge of eye illnesses where the eye becomes withered, exasperated, red, and overlooks flexibility.
- Industry Trends:
Maintenance of eye hygiene: The pervasiveness of eye infections is expected to surge worldwide due to exposure to contemporary pathogens, an escalation in deficient implementation of eye hygiene, and post-surgical eye infections. Normal eye cases such as allergies, glaucoma, cataracts, and dry eyes are becoming more extensive, causing an escalated demand for eye drops in eye care. A mature global populace notably pushes the growing pervasiveness of these conditions.
Awareness of eye check-ups: The escalating identification of perpetuating eye health and consistent eye assessment has caused an upswing in the demand for ophthalmic eye drops. In the ophthalmic eye dropper market, the expanding consciousness has caused an escalated requirement for eye drops. Persons now possess a superior comprehension of premature indications of eye issues, encouraging them to look for help and cure at a premature stage.
- Restraints
Stretched approval procedures: The stretched approval processes for ophthalmic remedies and their conveyance systems showcase a notable impediment within the market size. Administrative bodies involving health concerns and pharmaceutical jurisdictions implement strict instructions to sanction the security, productiveness, and standard of medical commodities such as ophthalmic solutions and their correlated delivery tools, such as eye droppers.
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Segmentation Overview
- Prescription Drugs Segment Witnessed a Steep Rise
Based on drugs, the prescription drugs segment witnessed a steep rise. The ophthalmic eye dropper market demand is on the rise due to the enhanced pervasiveness of eye illnesses which require exceptional authorization cures past drug administrations. Illnesses such as infections, withered eye affliction, and glaucoma compel precisely devised medicines, which are primarily obtainable through prescription.
- The Dry Eye Segment Dominated the Market
Based on treatment, the dry eye segment dominated the market. The ophthalmic eye dropper market trends include the extended usage of environmental elements, digital gadgets, and maturing populace for earmarked cures conducted through eye droppers. For instance, in January 2023, as per Environmental Research and Public Health, Dry Eye Disease was designated among the most pervasive eye conditions impacting millions worldwide.
Ophthalmic Eye Dropper Market: Report Scope & Dynamics
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 22.93 Billion |
| Market size value in 2024 | USD 14.20 Billion |
| Expected CAGR Growth | 6.2% from 2024 – 2032 |
| Base Year | 2023 |
| Forecast Year | 2024 – 2032 |
| Top Market Players | AbbVie Inc., Alcon, AptarGroup, Inc., Bausch & Lomb Incorporated, Novartis AG, Pfizer, and Silgan Dispensing Systems., among others |
| Segments Covered | By Drug Type, By Type, By Treatment Type, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Browse Press Release: Ophthalmic Eye Dropper Market Size Worth $22.93 Billion By 2032 | CAGR: 6.2%
Regional Insights
North America: This region held the largest ophthalmic eye dropper market share due to sizeable healthcare disbursement sanctioning wide approachability to lately advanced eye care commodities and cures such as eye droppers. Additionally, the escalating prevalence of eye infections and sensitivity and the proliferating geriatric populace have brought about escalated demand for eye clarifications, stimulating market expansion in North America.
Asia Pacific: This region is confident of achieving speedy growth. The escalating populace and increasing worries about eye illnesses and health are notable elements pushing the usage and demand for eye droppers and solutions for eye care. Additionally, moves in lifestyle, growing eye illnesses amidst the geriatric populace, and the magnified revelation of digital gadgets assist in escalating demand for ophthalmic medicines.
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Key Questions Addressed in the Report:
- What are the key segments in the ophthalmic eye dropper market?
Ans: The key segments covered by the report are drug type, type, treatment type, and region.
- How much is the market worth?
Ans: The market size and share are currently valued at USD 13.44 billion in 2023 and is anticipated to generate an estimated revenue of USD 22.93 billion by 2032.
- At what rate is the market expected to grow during the forecast period?
Ans: The market is predicted to grow at a CAGR of 6.2%
- Which region is leading the global market?
Ans: North America is leading the global market.
Polaris Market Research has segmented the Ophthalmic Eye Dropper market report based on drug type, type, treatment type, and region:
By Drug Type Outlook
- OTC drugs
- Prescription drugs
By Type Outlook
- Preserved multi-dose eye droppers
- Preservative-free multi-dose eye droppers
- Unidose eye droppers
By Treatment Type Outlook
- Allergies
- Conjunctivitis
- Dry Eye
- Glaucoma
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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