Eye Care Products Market Analysis | 2024-2030

Market Insights

The eye care products market was estimated at USD 70.45 million in 2023 and is likely to grow at a CAGR of 4.5% during 2024-2030 to reach USD 96.05 million in 2030.

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Market Dynamics

Introduction

Eye care products are defined as products that are used to treat various eye disorders. Some of the commonly used eye products include ointments or emollients, eyewashes, hyperosmotic, eyelid scrubs, and others. These products are easily available over the counter. The eyes are considered the most sensitive organs of the human body, so proper eye care is required.

Market Drivers

The global market growth is primarily driven by increasing incidences of eye disorders and allergies due to factors such as pollution, prolonged use of devices such as smartphones and laptops, insomnia, and changing lifestyles.

• Expanding the geriatric population across geographies is expected to propel market growth at a significant rate during the review period.
• Additionally, increasing demand for more advanced and high-quality products is likely to create lucrative opportunities for the market players during the review period.
• However, side effects of the common medications are likely to affect market growth.

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Key Players

Key players operating in the eye care products market are:

• Allergan, Inc. (The U.S),
• Accutome Inc. (The U.S),
• Prestige Consumer Healthcare Inc. (The U.S),
• Bausch & Lomb Incorporated (The U.S),
• Croda International plc (UK),
• Akorn Consumer Health (The U.S),
• Shire US Inc. (The U.S),
• Scope Ophthalmics Ltd. (Ireland),
• VISUfarma B.V. (Netherlands),
• Novartis International AG (Switzerland), and
• Precision Lens (The U.S).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Application Type

Based on the application, the market has been divided into online pharmacies, retail pharmacies, and hospital pharmacies.

• The retail pharmacy segment accounted for a substantial market share in 2023.
• The segment growth can be attributed to the easy availability of eye care products in retail pharmacy stores.
• The online pharmacy segment is projected to register healthy growth during the review period owing to increasing consumer preference towards online shopping.

Regional Insights

The market in North America accounted for the largest share in 2023.

• The regional market growth can be attributed to the increasing geriatric population and the presence of established healthcare infrastructure.
• The market in the Asia-Pacific region is projected to register a healthy growth rate on account of increasing healthcare spending and the rapidly growing medical tourism industry.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s eye care products market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The eye care products market is segmented into the following categories:

By Type

• Ointments or Emollients
• Eye Washes
• Hyperosmotic
• Eyelid Scrubs
• Others

By Form Type

• Cream
• Solution
• Others

By Application Type

• Online Pharmacy
• Retail Pharmacy
• Hospital Pharmacy

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the sectors. In case you need any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, or other requirements, please send your inquiry to sales@stratviewresearch.com.