Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Global Ophthalmic Eye Dropper Market by Type, by Drug Type, by Treatment Type, by End-user, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global ophthalmic eye dropper market is anticipated to witness significant growth, with the market size projected to increase from USD 13.48 billion in 2023 to USD 25.88 billion by 2034, at a CAGR of 6.11% during the forecast period. This growth is attributed to the rising incidence of ocular diseases, coupled with advancements in eye dropper designs and increased emphasis on non-invasive treatment methodologies.
Key drivers influencing the market expansion include the escalating prevalence of eye-related disorders such as glaucoma, dry eye syndrome, and age-related macular degeneration. In addition, advancements in healthcare and increased access to medical treatments provide a positive outlook for the ophthalmic eye dropper sector.
Preserved Multi-Dose Segment Holds the Largest Market Share
The preserved multi-dose type segment dominated the market in revenue terms in 2023, which can be attributed to the cost-effectiveness and the extended shelf life of these formulations. Growth within this segment reflects ongoing efforts by industry leaders to enhance product offerings, potentially satisfying a broad spectrum of patient needs.
In terms of drug type, prescription medications have remained prominent in the market due to the need for targeted treatments for complex eye disorders. The over-the-counter (OTC) segment, however, is forecast to exhibit substantial growth, driven by ease of access and growing consumer knowledge on self-care eye treatments.
When dissected by treatment type, the dry eye segment holds a significant share as a result of the global increase in dry eye syndrome. Meanwhile, the glaucoma treatments segment is expected to surge rapidly during the forecast period, propelled by the rising geriatric population and advancements in glaucoma management.
End-user and Regional Insights
The highest use of ophthalmic eye droppers is in hospital settings, due to the comprehensive eye care services available in these institutions. However, home care settings are projected to see rapid adoption, supported by a shift towards patient-centric healthcare practices and advanced self-administration technologies.
Geographically, the North American market leads in terms of revenue share, with robust healthcare systems and heightened awareness contributing to its dominance. The Asia Pacific market is forecast to expand most rapidly, benefiting from rising healthcare accessibility and an improving healthcare infrastructure.
Key Market Developments
- The "Vision Made Possible" initiative by Johnson & Johnson demonstrates the industry's dedication to eye health education.
- Rising preferences for preservative-free and non-irritating ophthalmic solutions are influencing product innovation in the segment.
- FDA approvals and launches of treatments such as RYZUMVl and MIEBO signify strategic advancements in tackling prevalent eye conditions.
The detailed forecast of the ophthalmic eye dropper market includes an extensive analysis of various market segments, regional and country-level statistics, and exhaustive profiles of leading companies maneuvering the market. This analysis offers valuable insights for stakeholders, investors, and healthcare providers, detailing the current trends and future outlook of the ophthalmic eye dropper market globally.
Companies Mentioned
- Alcon Inc.
- Allergan plc (Acquired by AbbVie)
- Bausch Health Companies Inc.
- Aptar Pharma
- Gerresheimer AG
- SCHOTT AG
- Owen Mumford Ltd.
- AptarGroup Inc.
- Berry Global Inc.
- Aptar Pharma
- Nipro Corporation
- AptarGroup Inc.
- West Pharmaceutical Services Inc.
- Stevanato Group
- Intraocular Sciences
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $13.48 Billion |
| Forecasted Market Value (USD) by 2034 | $25.88 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6830z5
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