According to current data on Reports and Data, the Global Eye Care Products Market was valued at USD 53.94 billion in 2019 and is anticipated to reach USD 76.35 billion in 2027 at a CAGR of 4.6%. The study covers the genre of eye care products available in the market. Eye care products are essentially used for treating eye disorders and for maintaining the general health of eyes. The report categorizes eye care products into two broad categories, i.e., eye care products for medical purposes and eye care products for cosmetic purposes. Innovations like bionic eyes, infini-cils, and bionic contact lenses have been milestone achievements in this industry. The eye care products come in various forms, such as creams, solutions, gels, etc.
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An increase in pollution and reduced tolerance towards pollutants are the factors that have increased the demand for eye care products. A rise in the geriatric population is also a reason for an increase in the demand for these products as they are more prone to allergies and diseases. However, inaccurate and incomplete information regarding the usage of these products accompanied by excess or improper application of these products has acted as restraining factors as well.
Further Key Findings from the Report Suggest
- Changing lifestyles of the people have been identified as one of the reasons for an increase in demand for eye care products. These essentially include improper diet, improper routine, and insomnia.
- Excessive use of Television, Computer, and other digital screens have led to an increase in the demand for eye care products.
- Rapid growth in the tendency of the people towards infections, along with problems like insomnia and inadequate sleep, has led to an increase in the demand for eye care products.
- As per the study, a large number of people believe that eye care products are required only when there is some problem with the eyes, and are not required for maintaining the general health of the eyes.
- There are advancements in the formulation of the products to suit the needs and skin types of people from different age brackets. Most companies manufacture eye care products that are age specific, apart from being problem-specific. This reduces the chances of allergic reactions.
- The contact lens market has also been seen to be growing due to the rising awareness of eye care. It is also observed that a significant number of people opt for zero number lenses to avoid damage of eyes due to excess use of digital screens.
- The contact lens market has also been seen to be growing due to the rising awareness of eye care. It has also been observed that a significant number of people opt for zero number lenses to avoid damage of eyes due to excess use of digital screens.
- Ease in availability and accessibility of most of the eye care products has been a major factor in increasing the demand for these products.
- The availability of a variety of products in this domain has accelerated the demand for these products. This further encourages the manufacturers to invest in research and development.
- The market was found to be propelled by increasing the cosmetic requirements of the people as well. Various eye care products have gained demand due to an increase in awareness, about the maintenance of the general health of the eyes, among people in certain regions of the world.
- Asia Pacific region holds a significantly small share of the market. It contains a share of 26.9%. However, it is the fastest-growing market region with a CAGR of 4.9%.
- Europe holds the largest market share of 39%, with North America right behind it at a market share of 33.6%.
- Key participants include Bausch and Lomb, Clear eyes, Its Skin, Laneige, Cipla, Johnson and Johnson, Alcon, Allergen, and Neutrogena.
- Bausch and Lomb, Allergen, and Alcon have been seen to dominate the European markets.
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Reports and Data, for the purpose of this study, has segmented the Eye care products market on the basis of product type, product form, availability, application, and region:
Product type (Revenue, USD Million; 2017–2027)
- Eye washes
- Eye scrubs
- Artificial tear drops
Availability (Revenue, USD Million; 2017–2027)
- Retail Pharmacy
- Online Pharmacy
- Hospital Pharmacy
Application (Revenue, USD Million; 2017–2027)
- Single-use/ single purpose
Product form (Revenue, USD Million; 2017–2027)
Regions (Revenue, USD Million; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/eye-care-product-market
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