The global eye drops and lubricants market is estimated to grow at a CAGR of 5.6% during the forecast period. Eye drops and lubricants are used to treat people suffering from various eye problems, such as eye dryness, swelling, redness, infection (pink eye), allergies, itching, soreness, and others. Eye infections such as bacterial keratitis and conjunctivitis are chronic infections treated with the help of antibiotics therapy. In addition to this, eye and vision problems also cause due to imbalance in hormone levels, as hormones regulate essential body functions, and changes in them can affect the eyes and vision. The innovation of advanced prospect molecules and novel combination therapies is expected to propel the growth of the eye drops and lubricants market in the forecast period.

Top Driver: Rising Incidence and Emergence of Drug Discovery

The rise in the incidence of ophthalmic disorders across the world, changes in the demographics across the globe, and the emergence of drug discovery and development for the treatment of eye disorder and diseases are the factors that are propelling the growth of the global eye drops and lubricants market. On the other hand, extended duration required for the approval of eye drops and lubricants and the risk of associated adverse effects hinders the market growth. However, an increase in investment by manufacturers in the emerging economies and rapid initiatives to reduce the burden of glaucoma all over the world are estimated to offer lucrative opportunities for market expansion.

The Artificial Tears Market is Estimated to Grow In the Coming Years

The eye drops and lubricants market is segmented into antibiotics, hormones, artificial tears, and others based on type. The artificial tear segment accounted for the highest revenue and is expected to continue its dominance during the forecast period due to the surge in demand for the product, rise in the number of dry eye syndrome worldwide. In addition to this, easy accessibility and availability of lubricating eye drop further fuel the market growth. Based on the application, the market has been segmented into eye disease, eye care, and others

  Increase in the Prevalence of Glaucoma, Cataract, and Other Ophthalmic Disorders to Benefit North America Market

Based on the region, the eye drops and lubricants market is segmented into North America, Europe, Asia-Pacific, and SAMEA. North America accounted for the largest market share in the eye drops and lubricants market and is expected to continue the trend throughout the forecast period due to an increase in the prevalence of glaucoma, cataract, and other ophthalmic disorders. However, Asia-Pacific is expected to create lucrative opportunities with maximum growth potential, due to the rapid development in healthcare infrastructure, increased healthcare initiatives by its government, and rise in the incidence of ophthalmic disorders.

Players to Focus on Eye Drops and Lubricant Market

The global eye drops and lubricants market is estimated to stay fragmented in the forecast period owing to the possible new entrants. The key players operating in the market are Novartis International AG (Alcon Inc.), Akorn Consumer Health (TheraTears), Allergan plc, ROHTO Pharmaceutical Co., Ltd., Johnson & Johnson, Pfizer, Inc., Similasan Corporation USA, Sager Pharma Kft., Prestige Consumer Healthcare, Inc., and Valeant pharmaceuticals International, Inc. (Bausch & Lomb Incorporated).

Novartis: In May 9, 2019, Novartis announced that it has entered into an agreement with Takeda Pharmaceutical Company Limited to acquire the assets associated with Xiidra^® 5% worldwide. Xiidra is the first and only prescription treatment approved to treat both signs and symptoms of dry eye by inhibiting inflammation caused by the disease. The transaction is estimated to bolster the Novartis front-of-the-eye portfolio and ophthalmic leadership.

Atlas Nanotech: In Nov. 14, 2019, Atlas Nanotech licensed their proprietary nanotechnology vitamin a (retinol) based crystalline eye drops known under the trade name “NANO CLEAR A”, to the leading eye drop manufactures, by licensing Nano Clear A to existing top tier eye drop manufactures it will allow the product to be widely used at a rapid pace.

Scope of the Report

By Type

• Antibiotics
• Hormones
• Artificial Tears
• Others

By Application

• Eye disease
• Eye care
• Others

 By End-User

• Energy
• Auto Mobiles
• Manufacturing
• Household Appliances
• Other

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.