OTC Dry Eye Drops Market Size, Share & Trends Analysis Report 2023-2030: Rising Digital Screen Usage Fuels Global OTC Dry Eye Drops Market Growth

Dublin, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The "OTC Dry Eye Drops Market Size, Share & Trends Analysis Report By Type (Branded, Generics), By Product Type, By Viscosity, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global OTC dry eye drops market size is expected to reach USD 6.09 billion by 2030, expanding at a CAGR of 7.70% from 2023 to 2030. Key factors that drive the market growth are the rising prevalence of dry eye disease, increasing eyesight strain due to the widespread use of digital devices such as smartphones and computers, and the increasing aging population globally.

Growing health consciousness and awareness of ocular health are expected to drive product demand. Over 750 million people worldwide have both symptoms and clinical signs of dry eyesight, whereas over 600 million are at risk of developing dry eye disease (DED) since they have clinical signs but do not have symptoms, making up a sizeable population of about 1.4 billion people who suffer from symptoms but not clinical signs of DED, thereby driving the demand for OTC dry eye drops in the marketplace.

Furthermore, urbanization and modern lifestyles further contribute to the high prevalence of dry ocular syndrome. Prolonged screen time associated with urban living can lead to reduced blinking frequency and disruption of the tear film, while environmental pollutants in urban areas can irritate eyesight. Moreover, long commutes and various stressors of urban life, including irregular sleep patterns, can negatively impact tear production and overall ocular comfort, fueling the market growth for OTC dry eye drops.

Key participants are engaged in strategies such as agreements, mergers & acquisitions, partnerships, and launches, among others, to expand their global footprint and product portfolio. For instance, in January 2022, Alcon launched the Systane Complete Preservative-Free Lubricant Eye Drops in Europe, with an aim to expand its footprint in the large and fast-growingpreservative-free category of eye drops. Furthermore, in July 2023, TheaLipid was launched by Thea Pharmaceuticals for the treatment of DED, supporting its expansion plans.

OTC Dry Eye Drops Market Report Highlights

  • In terms of type, the generics segment held the largest revenue share in the market in 2022 and is anticipated to grow at the fastest rate over the forecast period, owing to the cost-effectiveness of generic products
  • Based on product type, with preservatives segment held the largest market revenue share in 2022. Longer shelf life and easier storage play a vital role in contributing to segment growth
  • With regards to viscosity, the low-viscosity segment dominated the market in 2022.Ease of application and rapid relief are projected to boost the segment's growth in the coming years
  • Based on the distribution channel, the retail pharmacies segment led the market in 2022 due to their accessibility and convenience, making it easy for consumers to purchase OTC products such as dry eye drops
  • North America held the largest revenue share in 2022. The presence of well-established market players, a large and diverse patient pool, and the rising geriatric population with increased dry eye susceptibility fuel regional growth

Key Attributes:

Report AttributeDetails
No. of Pages130
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$3.4 Billion
Forecasted Market Value (USD) by 2030$6.09 Billion
Compound Annual Growth Rate7.7%
Regions CoveredGlobal

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot

Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Market Driver Analysis Increasing prevalence of dry eye syndrome Growing awareness and self-care practices Increasing geriatric population Increasing use of contact lenses
3.3.2. Market Restraint Analysis Limited efficacy for severe cases Regulatory constraints and quality concerns
3.4. Business Environment Analysis
3.5. COVID-19 Impact Analysis

Chapter 4. Type Business Analysis
4.1. OTC Dry Eye Drops Market: Type Movement Analysis, 2022 & 2030
4.2. Branded
4.3. Generics

Chapter 5. Product Type Business Analysis
5.1. OTC Dry Eye Drops Market: Product Type Movement Analysis, 2022 & 2030
5.2. With Preservatives
5.3. Preservative Free

Chapter 6. Viscosity Business Analysis
6.1. OTC Dry Eye Drops Market: Viscosity Movement Analysis, 2022 & 2030
6.2. Low Viscosity
6.3. High Viscosity

Chapter 7. Distribution Channel Business Analysis
7.1. OTC Dry Eye Drops Market: Distribution Channel Movement Analysis, 2022 & 2030
7.2. Drugstores and Supermarkets
7.3. Online Pharmacies
7.4. Retail Pharmacies

Chapter 8. Regional Business Analysis

Chapter 9. Competitive Landscape

  • Rohto Pharmaceutical
  • AbbVie
  • Johnson & Johnson Services,
  • Santen Pharmaceutical
  • Novartis
  • Prestige Consumer Healthcare
  • Altaire Pharmaceutical
  • Sentiss Pharma
  • Medicom Healthcare

For more information about this report visit https://www.researchandmarkets.com/r/v3oiq

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Global OTC Dry Eye Drops Market

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