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Eye Drops Market Size, Growth, and Share by 2030

Eye Drops Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Antibiotics, Artificial Tears, Hormones, and Others), Application [Eye Diseases (Dry Eye, Glaucoma, Cataract, and Others), Eye Care, and Others], Purchase Mode (OTC and Prescription), and Geography

  • Report Code : TIPRE00011308
  • Category : Life Sciences
  • No. of Pages : 188
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The eye drops market size is projected to reach US$ 23,788.45 million by 2030 from US$ 15,793.27 million in 2022. The market is expected to register a CAGR of 5.3% during 2022–2030. Rising cases of cataract diseases and technological developments are likely to remain key trends in the market.

Eye drops Market Analysis

According to the Lancet, it has been estimated that the prevalence of cataract increases with age which is from 3·9% at age 55–64 years to 92·6% at age 80 years and above. Pediatric cataracts are one of the most common causes of treatable childhood blindness, with an estimated prevalence ranging from one to six per 10000 live births.. Such a factor is expected to drive the eye drops market during the forecast period 2022 – 2030.

Eye Drops Market Overview

According to the Glaucoma Research Foundation, there were about 80 million people worldwide in 2020 with glaucoma and the numbers are expected to rise in future years reaching 111 million by 2040. The most common treatment for the same is prescription eye drops. There are seven eye drops type to treat glaucoma. Such a factor has resulted in the growth of eye drops market.

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Eye Drops Market: Strategic Insights

Market Size Value inUS$ 15,793.27 Million in 2022
Market Size Value byUS$ 23,788.45 Million by 2030
Growth rateCAGR of 5.3% from 2022 to 2030
Forecast Period2023-2030
Historic Period2020-2021
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Eye Drops Market Drivers and Opportunities

Rising Number of Vision Impaired Persons in India to Favor Market

According to the Financial Express,  approximately 4.95 million blind persons and 70 million vision-impaired persons are present in India. The economic burden of this is significantly high with an estimated net loss of gross national income due to blindness coming to INR 845 billion.

In general, eye diseases and vision disorders are extremely common. According to the World Health Organization (WHO), it has been estimated that over 2.2 billion people have some form of vision impairment or blindness.

Thus, the major factors leading to the eye drops market growth are the growing number of blind person cases in India .

Innovative Product Launches

In the recent past, it has been observed that market participants are launching new products that helps physicians to monitor the patient’s continuously. For instance, in 2020, the FDA approved MiSight 1 day (CooperVision) lenses making them the daily disposable soft contact lenses labeled for slowing the progression of myopia. Clinical studies found that MiSight 1 day lenses provided a 59% reduction in myopia progression in comparison with a single-vision 1-day lens, as measured by spherical equivalent, and a 52% reduction in mean axial elongation.

Eye Drops Market Report Segmentation Analysis

Key segments that contributed to the derivation of the eye drops market analysis are type and purchase mode.

  • Based on type, the eye drops market is segmented into antibiotics, artificial tears, hormones, and others. The antibiotics segment held the largest market share in 2022.
  • Based on purchase mode, the eye drops market is divided into OTC and prescription. The prescription segment is expected to witness a higher CAGR during the forecast period.  These include Cyclosporine (Restasis) and Lifitegrast (Xiidra).

Eye drops Market Share Analysis by Geography

The geographic scope of the eye drops market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the eye drops market. Increasing cases of glaucoma and rise in myopia cases in the United States has led the growth of regional market. According to the Bright Focus, over three million Americans are living with glaucoma, 2.7 million of whom are aged 40 and older and are affected by its most common form, open-angle glaucoma.  Asia Pacific region is anticipated to grow with the highest CAGR in the coming years.

Eye Drops Market Report Scope

Eye Drops Market News and Recent Developments

The eye drops market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the eye drops market are listed below:

  • Lupin announced the launch of bromfenac ophthalmic solution, 0.07%, in the United States, one of the leading healthcare companies in the United States market. (Source: CNBC TV18, Newsroom, January 2024)
  • Bausch + Lomb launched INFUSE Multifocal silicone hydrogel (SiHy) contact lenses for daily use for presbyopia management designed to help maintain ocular surface homeostasis to assist in minimizing contact lens dryness. (Source: Glance By Eyes On Eyecare, June 2023)

Eye Drops Market Report Coverage and Deliverables

The “Eye Drops Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

  • Eye drops market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Eye drops market trends as well as market dynamics such as drivers, restraints, and key opportunities
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Eye drops market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Eye drops market
  • Detailed company profiles
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

This text is related
to segments covered.

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

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to country scope.

Frequently Asked Questions


Which region dominated the eye drops market in 2022?

North America has dominated the eye drops market in 2022

What are the driving factors impacting the eye drops market?

Rising cases of cataract diseases and technological developments are likely to remain key trends in the market.

What are the future trends of the eye drops market?

Innovative Product launches is one of the future trends that will drive the overall eye drops market during the forecast period 2022-2030

Which are the leading players operating in the eye drops market?

Bausch+Lomb; Alcon; CooperVision; Dr. Reddy’s Laboratories; NovaBay Pharmaceuticals; ZEISS Vision Care; Verséa Ophthalmics; Théa Pharmaceuticals; Visionary Optic; Lumibird Medical are some leading players operating in the eye drops market

What would be the estimated value of the eye drops market by 2030?

The eye drops market size is projected to reach US$ 23,788.45 million by 2030.

What is the expected CAGR of the eye drops market?

The global eye drops market is estimated to register a CAGR of 5.3% during the forecast period 2022-2030

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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