Dry Eye Products Market Growth Analysis With Investment Opportunities
Dry Eye Products Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Dry Eye Products Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 12, 2024 /EINPresswire.com/ -- The dry eye products market has experienced robust growth in recent years, expanding from $7.26 billion in 2023 to $7.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to aging population, environmental factors, consumer awareness, healthcare professional recommendations, ocular surgery proliferation.
Strong Future Growth Anticipated
The dry eye products market is projected to continue its strong growth, reaching $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to continued digital device usage, increased screen time, rising awareness and diagnosis, ophthalmic innovation, telemedicine, and remote consultations. Major trends in the forecast period include advanced treatment modalities, preservative-free formulations, smart eye care devices, integration with wearable tech, combined therapy approaches.
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Growth Driver Of The Dry Eye Products Market
The rising prevalence of dry eye conditions is expected to propel the growth of the dry eye products market going forward. A dry eye is characterized by insufficient lubrication and moisture on the eye's surface. A dry eye can cause discomfort, irritation, and vision problems. Dry eye products help manage the symptoms of dry eye conditions.
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Major Players And Market Trends
Key players in the dry eye products market include Johnson & Johnson, AbbVie Inc., Novartis AG, Abbott Laboratories, Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Alcon Inc., Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Lumenis, AFT Pharmaceuticals Limited, Biotrue Inc., URSAPHARM Arzneimittel GmbH, Sight Sciences, OCuSOFT Inc., Oasis Medical Inc., Novaliq GmbH, Similasan, MiBo Medical Group, TheraTears, Allergan PLC, Systane, Refresh Plus, Optase, Visine inc..
Major companies in the dry eye products market are focused on developing prescription eye drops, such as perfluorohexyloctane ophthalmic solution, to address evaporative dry eye and to gain a competitive edge in the market. Perfluorohexyloctane ophthalmic solution is a specialized eye drop designed to address evaporative dry eye by reducing tear evaporation at the ocular surface.
Segments:
1) By Product: Antibiotic Drops, Hormone Drops, Artificial Tears, Other Products
2) By Type: Prescription Drugs, Over-The-Counter Drugs
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Specialty Clinics, E-Commerce, Other Distribution Channel
Geographical Insights: North America Leading The Market
North America was the largest region in the dry eye products market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of dry eye products.
Dry Eye Products Market Definition
Dry eye products refer to products that provide relief and alleviate the symptoms of dry eye syndrome, a condition in which the eyes do not produce enough tears, or the tears evaporate too quickly. These products lubricate the eyes, reduce inflammation, and increase moisture to relieve dryness, irritation, and discomfort.
The main types of dry eye products are antibiotic drops, hormone drops, artificial tears, and others. Antibiotic drops are ophthalmic (eye) drops that contain antibiotics, which are medications used in dry eye disease treatment to eliminate infection and reduce inflammation, thereby alleviating dry eye symptoms. It also includes prescription drugs and over-the-counter drugs sold through different distribution channels such as hospital pharmacies, retail pharmacies, specialty clinics, e-commerce, and others.
Dry Eye Products Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Dry Eye Products Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on dry eye products market size, dry eye products market drivers and trends, dry eye products market major players, dry eye products competitors' revenues, dry eye products market positioning, and dry eye products market growth across geographies. The dry eye products market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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