Eye Care Products Market by Types (Artificial Tear Drops, Ointments or Emollients, Eye Washes, Hyperosmotic, Eyelid Scrubs, Decongestants, and Antihistamines), Sales Channel (Online Pharmacy, Retail Pharmacy, and Hospital Pharmacy), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020-2027
Eye Care Products Market Outlook
The global eye care products market size was valued at USD 10,396.2 Million in 2019 and is projected to reach USD 14,527.4 Million by 2027, expanding at a CAGR of 4.9% during the forecast period.
Eye care products are used for improving the vision. The eye care products are affordable, easily available, and are customized to meet the patient's eye care needs. Eye care products provide patients with the first contact for eye care and a lifetime of continuing care, the main objective of the eye care products is to meet the needs of individuals so that they can receive quality and proper care from a single source.
Eye care products are used to treat dry eyes, glaucoma, cataracts, diabetes, and macular degeneration. However, in some cases, minor issues can be directed toward major conditions such as blindness, and often recommended to consult an eye specialist before taking eye care products. Numerous types of eye care products are available over the counter (OTC) and contains more or one active and inactive ingredients.
Eye care products comprise ingredients that have no or less therapeutic value such as ophthalmic vehicles such as dextran 70 and gelatin, to boost drug-target interaction and preservatives such as sodium benzoate, sorbic acid, and chloro-butanol, to restrict bacterial growth that can be incorporated during repeated product use.
Over the last few years, the eye care product market is significantly developing and changing. Growing pollution levels (dust particles, particularly impact the life span of eye care products), attractive buying options (a user can purchase eye care products online and offline), and increasing value-added offerings (free eye check-ups, discounts on vision care products, rise in one-stop solution shops) are major trends in the market.
Increasing number of visually impaired disorders is fueling the demand for quality vision care products. Rising awareness among consumers for health are driving the market.
The rising disposable income has also led to the rise in the spending of the healthcare products, including the eye care products, which has led to the rise in the demand for the eye care products. The rising incidences of eye diseases and availability of low costs products are also some of the factors, which contributes for the growth of the market.
Eye Care Products Market Dynamics
Drivers
Rising Incidence of Distance Vision Impairment
The number of distance vision impairment cases has increased owing to the rapid rise in the prevalence of eye diseases. According to the World Health Organization (WHO), 80 to 100 adolescents are affected with vision impairments, which is driving the demand for eye wear products.
Growing incidences of vision impairment among several young people has led to the rise in the adoption of the eye care products, thereby boosting the segment. Increasing prevalence of myopia has led to the rise in the vision impairment, which has fueled the adoption of eye care products, which drives the market.
Growing Usage of Digital Devices Drives Demand for Eye Care Products
Human eyes are one of the most sensitive organs of the human body. Eyes need as much care as the skin. Proper eye care not prevents the threat of potential eye disease and it improves the overall facial appearance.
Pollution, changing lifestyle, and long-time exposure to digital devices such as TV, mobiles, tablets, and computer screens negatively affect the eyes, causing eye strain, eye dryness, and are hamper the vision. Eye strain results in fatigue, headache, and is likely to affect an individual’s productivity. Hence, proper measures need to be taken to maintain eye health.
Restraints
Vision loss is considered to be one of the major healthcare challenges. In the coming years, increasing occurrence of eye disease among the ageing population and costs of vision loss are expected to rise considerably. Decreasing eye care treatment is hampering the global eye care products market.
LASIK surgery was introduced in the US 1989 years ago. To correct vision, millions of people in the US undergo LASIK eye surgery. The side effects associated with LASIK surgery includes complication in the hinged flap of the eyes. The hinge is created during the LASIK surgery. This is created to clear the vision.
The patients often face discomfort after the surgery. These are some of the factors, which affect the demand for the eye care products.To resolve these problems, patients undergo additional medical treatments or enhancement surgery. This increases the out-of-pocket cost of patients as some insurance coverage plans only cover limited set of surgeries.
Eye Care Products Market Segment Insights
Types Segment Analysis
On the basis of types, the market is segmented into artificial tear drops, ointments or emollients, eye washes, hyperosmotic, eyelid scrubs, decongestants, and antihistamines. The artificial tear drop segment accounted for one-fourth percent share of the market in 2019. Surge in the demand for artificial tear drops in the entertainment industry is driving the segment growth.
Sales Channel Segment Analysis
In terms of Sales Channels, the eye care products market is segregated into online pharmacy, retail pharmacy, and hospital pharmacy. The online pharmacy segment is anticipated to expand at a CAGR of over 5% during the forecast period. Rising adoption of new technology has led to the rise in the demand for online pharmacies, which contributes for the growth of the segment.
Regional Analysis
In terms of regions, the global eye care products market is fragmented into North America, Europe, Latin America, and Middle East & Africa. North America constituted around one third share of the market in 2020.
The market in China is projected to expand at a CAGR of XX% during the forecast period. Increasing disposable income, rising need for eye care products among the teenagers, and growing presence of several manufacturers are boosting the growth of the eye care products market in China.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global eye care products market
- Historical, current and projected market size in terms of value and volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global eye care products market performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Eye Care Products Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Eye Care Products Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Eye Care Products Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Eye Care Products Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Eye Care Products Market Size & Forecast, 2017-2027
4.5.1 Eye Care Products Market Size and Y-o-Y Growth
4.5.2 Eye Care Products Market Absolute $ Opportunity
Chapter 5 Global Eye Care Products Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Eye Care Products Market Size & Volume Forecast By Type
5.2.1 Artificial Tear Drops
5.2.2 Ointments or Emolients
5.2.3 Eye Washes
5.2.4 Hyperosmotic
5.2.5 Eyelid Scrubs
5.2.6 Decongestants
5.2.7 Antihistamines
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Eye Care Products Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Eye Care Products Market Size & Volume Forecast By Application
6.2.1 Online Pharmacy
6.2.2 Retail Pharmacy
6.2.3 Hospital Pharmacy
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Eye Care Products Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Eye Care Products Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Eye Care Products Analysis and Forecast
9.1 Introduction
9.2 North America Eye Care Products Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Eye Care Products Market Size & Volume Forecast By Type
9.6.1 Artificial Tear Drops
9.6.2 Ointments or Emolients
9.6.3 Eye Washes
9.6.4 Hyperosmotic
9.6.5 Eyelid Scrubs
9.6.6 Decongestants
9.6.7 Antihistamines
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Eye Care Products Market Size & Volume Forecast By Application
9.10.1 Online Pharmacy
9.10.2 Retail Pharmacy
9.10.3 Hospital Pharmacy
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Eye Care Products Analysis and Forecast
10.1 Introduction
10.2 Europe Eye Care Products Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Eye Care Products Market Size & Volume Forecast By Type
10.6.1 Artificial Tear Drops
10.6.2 Ointments or Emolients
10.6.3 Eye Washes
10.6.4 Hyperosmotic
10.6.5 Eyelid Scrubs
10.6.6 Decongestants
10.6.7 Antihistamines
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Eye Care Products Market Size & Volume Forecast By Application
10.10.1 Online Pharmacy
10.10.2 Retail Pharmacy
10.10.3 Hospital Pharmacy
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Eye Care Products Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Eye Care Products Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Eye Care Products Market Size & Volume Forecast By Type
11.6.1 Artificial Tear Drops
11.6.2 Ointments or Emolients
11.6.3 Eye Washes
11.6.4 Hyperosmotic
11.6.5 Eyelid Scrubs
11.6.6 Decongestants
11.6.7 Antihistamines
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Eye Care Products Market Size & Volume Forecast By Application
11.10.1 Online Pharmacy
11.10.2 Retail Pharmacy
11.10.3 Hospital Pharmacy
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Eye Care Products Analysis and Forecast
12.1 Introduction
12.2 Latin America Eye Care Products Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Eye Care Products Market Size & Volume Forecast By Type
12.6.1 Artificial Tear Drops
12.6.2 Ointments or Emolients
12.6.3 Eye Washes
12.6.4 Hyperosmotic
12.6.5 Eyelid Scrubs
12.6.6 Decongestants
12.6.7 Antihistamines
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Eye Care Products Market Size & Volume Forecast By Application
12.10.1 Online Pharmacy
12.10.2 Retail Pharmacy
12.10.3 Hospital Pharmacy
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Eye Care Products Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Eye Care Products Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Eye Care Products Market Size & Volume Forecast By Type
13.6.1 Artificial Tear Drops
13.6.2 Ointments or Emolients
13.6.3 Eye Washes
13.6.4 Hyperosmotic
13.6.5 Eyelid Scrubs
13.6.6 Decongestants
13.6.7 Antihistamines
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Eye Care Products Market Size & Volume Forecast By Application
13.10.1 Online Pharmacy
13.10.2 Retail Pharmacy
13.10.3 Hospital Pharmacy
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Eye Care Products Market: Competitive Dashboard
14.2 Global Eye Care Products Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allergan
14.3.2 Acutome
14.3.3 Prestige Brands
14.3.4 Bausch and Lomb
14.3.5 Croda
14.3.6 Akorn
14.3.7 Shire
14.3.8 Scope Ophthalmics Ltd.
14.3.9 VisUfarma
14.3.10 Novartis
14.3.11 Safer Pharma
14.3.12 Rohto
14.3.13 Similasan
14.3.14 Johnson and Johnson