According to a recent market study published by Growth Market Reports (GMR) titled, “Global Eye Care Products Market by Types, Sales Channel, and Regions: Size, Share, Trends, and Opportunity Analysis, 2017-2027”, the market was valued at USD 10,396.3 Million in 2019 and is expected to expand at a CAGR of 4.9% during the forecast period.
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The global eye care products market is anticipated to grow owing to the rising incidences of eye diseases, which have fueled the adoption of eye care products. Rise in awareness among consumers regarding health and increase in the presence of several significant players in the market are some factors driving the demand for eye care products. The rising prevalence of the eye diseases among the consumers are also some of the factors, which has led to the rise in the demand for the eye care products, which are some of the factors, which contributes for the demand for eye care products.
Some of the factors including, insomnia and changing lifestyle patterns boosting the adoption of eye care products. Rising awareness among consumers regarding the health of the eyes is driving the market growth. Growing adoption of eye care products by the young generation for the prevention of eye diseases has led to the growth in demand for eye care products and hence driving the market. However, some of the factors including side effects of the eye care products is hampering the market growth. Technological advancements in ophthalmic devices, government initiatives to control visual impairment, and rising adoption of eye care products, boosting market growth.
The global eye care products market is fragmented based on types, Sales Channel, and regions. On the basis of types, the eye care products market is segmented into artificial tear drops, ointments or emollients, eye washes, hyperosmotic, eyelid scrubs, decongestants, and antihistamines. In terms of Sales Channel, the market is segregated into online pharmacy, retail pharmacy, and hospital pharmacy.
Based on region, the global eye care products market is classified as North America, Europe, Latin America, and Middle East & Africa. North America is bifurcated into countries such as the US and Canada. The Europe region is categorized as the UK, France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is split into countries, China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific. Europe is categorized as Germany, France, the UK, Italy, Spain, Russia, and Rest of Europe, while the MEA is divided into Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa.
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In year 2020, the eye care products market is expected to witness the slight growth due to COVID-19 pandemic. The outbreak has forced people to pay more attention towards regular eye health concerns and the awareness regarding rising eye issues due to increased screen time during this pandemic. This is positively affecting the demand for eye care products. Moreover, the increasing availability of eye care products on e-commerce retail platform is anticipated to create lucrative opportunity for the growth of market during this pandemic situation.
As per GMR industry analyst Vidya Jadhav, “The global eye care products market is anticipated to expand at significant pace during the forecast period, from 2020 to 2027. The market is driven by the rising adoption of eye care products for the prevention of eye diseases and increasing adoption of healthy lifestyle by consumers are some of the factors boosting the market.”
Key Takeaways from the Study:
- North America accounts for a major share of the market, followed by Europe. The market in China is projected to expand at significant CAGR during the forecast period.
- In terms of value, the artificial tear drops segment is projected to increase at a substantial CAGR during the forecast timeline.
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Report Scope:
| Report Metric | Details |
| Market Value in 2019 | USD 10,396.25 Million |
| Market Growth Rate (from 2021 to 2027) | 4.9% |
| Historical Data | 2017 & 2018 |
| Base Year | 2019 |
| Forecast Period | 2020 – 2027 |
| Units Considered | Value (USD Million) and Volume (Units) |
| Market Segments | Types and Sales Channel |
| Regional Scope | North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA) |
| Country Scope | The US, Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, South East Asia, Rest of Asia Pacific, the UK, France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, the UAE, and Rest of MEA. |
| Key Companies Profiled | Allergan, Prestige Brands, Bausch and Lomb, Croda, Akorn Consumer Health, Shire, Novartis, Sager Pharma,Rohto,Johnson and Johnson, Accutome, Scope Ophthalmics, VISUfarma, and Similasan |
| Customization Scope | Report customization available on request |
| Pricing and Purchase Options | Avail tailor-made purchase options to meet your research requirements |
Target Audience:
- Supply-side: Eye care products manufacturers, raw material suppliers, and distributors
- Demand Side: Healthcare professionals, adults, ophthalmologists, eye care technicians
- Regulatory Side: concerned government authorities, government agencies, and other regulatory bodies
- Associations and Industry Bodies: The US Food and Drugs Administration (FDA), Code of Federal Regulations, General Medical Council, Care Quality Commission, National Patient Safety Agency (NPSA), The Medicines and Healthcare products Regulatory Agency, International Council of Ophthalmology, and American Academy of Ophthalmology
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