Allied Market Research published a report, titled, “Eye-Drop and Lubricants Market by Type (Antibiotics, Hormones, Artificial Tears, and Others), and by Application (Eye Diseases [Glaucoma, Conjunctivitis, Refractive Errors, and others], Eye Care, and Others) – Global Opportunity Analysis and Industry Forecast, 2018-2025“. The report offers a detailed analysis of evolving market trends, top investment pockets, key segments, and competitive scenario. As per the report, the global eye-drop and lubricants market garnered $15.5 billion in 2017 and is estimated to hit $22.6 billion by 2025, growing at a CAGR of 4.7% from 2018 to 2025.
For what eye drops and lubricants used?
These are used for the treatment of eye diseases and problems such as dry eyes, redness, itching, pain, glaucoma, conjunctivitis, refractive errors, diabetic macular edema, CMV retinitis and age-related macular degeneration.
Which regions are include in eye drops and lubricants market?
Region wise, the eye drops and lubricants market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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However, in cases, where the patient is prescribed more than one type of eye drops, it is advised to maintain at least five minutes gap between each type of medicine. The eye drops and lubricants market is expected to exhibit significant growth during the forecast period due to the rise in prevalence of ophthalmic disorders worldwide and change in the demographics across the globe. In addition, drug discovery and development further supplements the market growth.
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The eye diseases segment to be dominant throughout 2018-2025
By application, the eye diseases segment accounted for nearly three-fifth of the total market and is anticipated to be dominant during the forecast period. Increase in prevalence of eye diseases globally and rise in the geriatric population who are more prone to suffer from eye disorders have stimulated the growth.
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.
Major Key Market Players in the Industry –
- 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)
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of eye drops and lubricants market report?
Q2. What would be forecast period in the market report?
Q3. What is the market value of eye drops and lubricants market in 2021?
Q4. Which is base year calculated in the eye drops and lubricants market report?
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Key findings of the study –
- Based on type, the hormone segment is expected to witness the fastest growth in the market and is expected to grow at a CAGR of 5.6% from 2018 to 2025.
- According to the application, the eye disease segment was the largest revenue earner in 2017 and is expected to continue this trend during the forecast period.
- The United States generated the highest revenue in the world’s oil and gas industry in 2017, accounting for more than a third of the world market in 2017.
- LAMEA is expected to grow at a CAGR of 5.3% during the forecast period.
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