Artificial Tears Segment Held Largest Share of Product Segment in Dry Eye Products Market

According to our latest study on " Dry Eye Products Market Forecast to 2030 - Global Analysis - by Product, Dosage Form, Type, And Distribution Channel" the market was valued at US$ 6.95 billion in 2023 and is projected to reach US$ 10.04 billion by 2031. It is estimated to register a CAGR of 4.7% from 2023 to 2031. The report highlights the key factors and trends impacting the market and focuses on prominent players and their strategies.

Dry eye is a condition characterized by the lack of adequate quality of tears to lubricate and nourish the eye or by a quick evaporation of tears. With hormonal changes, as people get older, the tendency to produce tears decreases. Dry eye is common in both males and females. However, more cases are recorded in women, mainly those who have gone through menopause. Dry eye is a chronic condition that doesn't have a specific cure, but treatments can help manage the symptoms. The dry eye products market size is likely to surge by 2031 owing to significant growth opportunities presented by developing countries.

In recent years, various initiatives have been taken to create awareness and educate people regarding eye diseases, prompting patients to access suitable medications and treatments. For instance, as a part of the Avoidable Blindness Program (ABP) (launched in 2021), Novartis worked with its partners across Sub-Saharan Africa and Southeast Asia to access to its eye care products in 2022. ABP focuses on moderate to severe vision damage caused by glaucoma and retinal conditions that are responsible for a large proportion of preventable blindness. In July 2022, as part of the ABP, the Fred Hollows Foundation and Novartis launched the Integrated Eye Health Program for preventing blindness in Kenya by enhancing access to eye health services in the country with a major emphasis on glaucoma, diabetic retinopathy, and cataract. For 2022, the partnership's ambitious goal was to have over 400,000 community members educated in eye health and approximately 40,000 patients screened.

The International Agency for the Prevention of Blindness (IAPB) launched the global campaign named "Love Your Eyes" in 2022 to raise awareness of the socioeconomic importance of eye health. The campaign calls upon governments and global institutions to support eye health. The IAPB emphasizes programs and initiatives in India and the world, which promptly focus on offering accessible, available, and affordable eye care. The "Love Your Eyes" program also calls for regulation changes and funding to make eye care accessible, available, and affordable by 2030. Thus, increasing funds for eyecare research and rising initiatives to spread awareness about eye care are likely to create new opportunities in the dry eye product market in the coming years.

Santen Pharmaceutical Co Ltd, Johnson & Johnson, OASIS Medical, URSAPHARM Arzneimittel GmbH, Rohto Pharmaceutical Co Ltd, OCuSOFT Inc, Bausch Health Companies Inc, AbbVie Inc, Prestige Consumer Healthcare Inc, Farmigea SpA, and Alcon AG. are among the key players operating in the global dry eye products market.

The report segments the global dry eye products market as follows:

The dry eye products market is segmented on the basis of product, dosage form, type, and distribution channel.

Based on dosage form, the dry eye products market is categorized into eye drops, gels, capsules and tablets, and others. The eye drops segment held the largest market share in 2023. The gels segment is anticipated to register the highest CAGR of 5.2% during 2023-2031. Eye drops can relieve the signs of most eye problems, including dry eye. Lubricating eye drops, also known as artificial tears, can help subside short-term dry eye. These drops help treat dry eye resulting from digital eye strain, sun and wind exposure, tiredness, and other problems.

The market, by distribution channel, is categorized into retail pharmacies, hospital pharmacies, and online pharmacies. The retail pharmacies segment held the largest dry eye products market share in 2023. The online pharmacies segment is anticipated to register the highest CAGR of 5.7% during 2023-2031. Retail pharmacy stores sell prescription drugs, OTC drugs, and some fast-moving consumer goods, along with providing related services. Patients find it easy to receive counseling from pharmacists due to the easily accessible locations of these pharmacies.

The scope of the dry eye products market report covers North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

In 2023, North America accounted for the largest market share. The market growth in North America mainly associated with the increasing awareness of dry eyes disease, a growing aging population, technological advancements, and rising eye disease cases. Moreover, the easy availability of various drugs due to frequent launches of new drugs is one of the key factors propelling the market growth in the region.




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