Global Eye Drops and Lubricants Market on the Rise with Increasing Ocular Health Concerns

The Eye Drops and Lubricants Market is witnessing significant growth globally, driven by a growing awareness of ocular health and an increasing aging population. Advances in formulations and innovations in preservative-free eye care products are shaping market dynamics. With the rise in digital eye strain due to increased screen time, there is a surge in demand for eye drops and lubricants. Consumers are showing a preference for natural and organic eye lubricants, reflecting a broader trend toward health-conscious choices. Pediatric eye health is also a focal point, leading to the development of specialized products. The global eye drops and lubricants market size is $15,587 million in 2017 and is projected to reach $22,625 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

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Major Key Players Covered In This Report -
• 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,
• Valeant Pharmaceuticals International, Inc. (Bausch & Lomb Incorporated)

Based on type, the eye drops and lubricants market is segmented into antibiotics, hormones, artificial tears and others. The artificial tears segment achieved the highest revenue in 2017 and is expected to continue this trend during the forecast period, due to the increase in this product, due to the increase in dry eye disease in the world. In addition, the ease of availability and availability of lubricating tears even without a prescription increases the market growth.
However, North America achieved the highest market share in 2017 and is expected to maintain its dominance during the forecast period, due to the increase in glaucoma, cataracts and other eye diseases.

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North America to maintain its top position by 2025
Based on geography, North America held the major market share in 2017, contributing to nearly two-fifth of the total share and is expected to maintain its top position by 2025. The growth has been triggered by high patient population suffering from eye diseases and availability of good healthcare infrastructure in the region. On the other hand, Asia-Pacific is expected to grow at the highest rate, with a CAGR of 5.8% from 2018 to 2025.

Key Findings of the Eye Drops and Lubricants Market -

Based on type, the hormones segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 5.6% from 2018 to 2025.

Depending on application, the eye diseases segment held the largest revenue in 2017 and is anticipated to continue this trend during the forecast period.

U.S. generated the highest revenue in the global eye drops and lubricants market industry in 2017, accounting more than one-third of the global market in 2017.

LAMEA is estimated to grow at a CAGR of 5.3% during the forecast period.

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