Rising Prelevance of Dry Eyes Disorders amongst a Huge Population has led to the Growth of the Global OTC Dry Eye Drops Market.
The global over-the-counter (OTC) dry eye drops market stands as an ideal of relief for millions worldwide grappling with the discomfort and irritation of dry eye syndrome. This expanding market, propelled by a perfect storm of technological advancements, shifting lifestyles, and an aging population, reflects a significant paradigm shift in eye care solutions. Dry eye syndrome, a prevalent ocular condition affecting people of diverse ages and backgrounds, has spurred an unprecedented demand for accessible and effective remedies, thereby fueling the expansion of the OTC dry eye drops industry. As this market continues to evolve, driven by innovation and a growing consumer base seeking respite from the persistent symptoms of dry eyes, it promises a future of enhanced comfort and relief for those affected by this prevalent ocular ailment.
Future of Global OTC Dry Eye Drops Market
The future of the market is characterized by innovation, convenience, and a focus on meeting the diverse needs of consumers seeking effective and accessible solutions for dry eye relief. Regulatory agencies worldwide will continue to monitor and set standards for OTC eye care products to ensure safety and efficacy. Manufacturers will invest in meeting these standards, potentially leading to the introduction of safer and more reliable products in the market.
Dry eye disease is extremely common in the United States, affecting around 6.8% of the population more than 22 million individuals and is predicted to increase as the population ages. Aside from the disease’s negative impact on vision, productivity, and quality of life, people with Dry eye disease have greater rates of significant depression and anxiety. Optometrists have had a restricted number of therapy choices for many years. However, with many therapy alternatives in the pipeline expected to launch in 2023, doctors may soon have some new tools for treating and managing dry eye disease
Asia Pacific region is anticipated to be the fastest growing region in the OTC dry eye drops market during the forecast period. Asia has witnessed a surge in the prevalence of dry eye syndrome, partly due to lifestyle changes, environmental factors, and prolonged screen time. Factors such as urbanization, air pollution, extensive use of digital devices, and a shift towards a more sedentary lifestyle contribute to the rising incidence of dry eye symptoms among the population.
Key Developments in the Global OTC Dry Eye Drops Market
In April 2023, Sun Pharmaceutical Industries launched a medication to treat eye disease. The drug is novel ophthalmology treatment for the patients who have dry eye disease with inflammation, a commonly occurring condition.
In September 2023, Miebo (perfluorohexyloctane ophthalmic solution) has been released by Bausch + Lomb to treat patients with dry eye disease (DED). MIEBO is the first prescription eye drop that has been approved to treat tear evaporation in dry eye condition.
Global OTC Dry Eye Drops Market: Key Players
Some of the key market participants operating in the global OTC dry eye drops market are
- AbbVie Inc.
- Johnson & Johnson Services, Inc.
- Medicom Healthcare Ltd.
- Novartis AG
- Prestige Consumer Healthcare Inc.
- Rohto
- Santen Pharmaceutical Co., Ltd.
- Sentiss
- Other market participants
Global OTC Dry Eye Drops Market
By Type
- Branded
- Generics
By Product Type
- With Preservatives
- Preservative Free
By Viscosity
- Low Viscosity
- High Viscosity
By Distribution Channel
- Drugstores and Supermarkets
- Online Pharmacies
- Retail Pharmacies
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
