The global Eye Care Product Market was valued at USD 56.6 Million in 2020 and is expected to reach USD 80.4 Million by the year 2030 at a CAGR of 4.6%. Eye care products are typically used for treatment of various eye problems and disorders. They aid in maintaining moisture, eliminate dark circles, tighten the skin around eyes and maintain the overall health of the eyes. Eye care products are broadly categorised into medical and cosmetic purposes. Medical products include products such as ointments for eye disorders, antihistamines for allergies and artificial tear drops.
On the other hand, cosmetic eye care products include products such as Infini-cils for activation and stimulation of growth of eyelashes and eyebrows and creams for dark circles. Various eye care products in the market today are age specific. For instance, Bausch and Lomb provides the market with age specific eye care products that help in avoiding harsh reactions. These products focus on the skin’s thickness and the eye’s tolerance towards chemical compositions at different age groups. The market is seen to be growing rapidly and continuously.
Rapid growth in the numbers of older populations throughout the world, increasing pollution and change in lifestyle patterns are some of the major driving factors responsible for the rising demand for eye care products. Technological advancements have brought in an increase in the demand for eye care products in the market. However, the existence and availability of counterfeit products, side effects from common medications are some of the major restraining factors in the market. Eye care products are predominantly are pharmaceutical, surgical and cosmetic in nature. The market is propelled by rising demands for cosmetic treatments and the intolerance towards increasing pollutants in the atmosphere. Eye wear as well as contact lenses are also taken into consideration. The eye care products market is much fragmented and includes quite a few pharmaceutical as well as cosmetic giants.
Request a Sample@ https://qyresearchmedical.com/sample/119018
Key coverage of the report
- Region-wise and country-wise assessment from 2020. For this, 2016-17 has been considered as historic data, 2020 as the base year and 2019-2025 has been derived as forecasts.
- Regional competitors using SWOT Analysis.
- Market share analysis of the key industry players.
- Market trends- drivers, restraining factors and challenges.
- Demand and Supply GAP
- Market forecasts for a minimum of 6 years of all the segments and the regional markets.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
- Rapidly growing pollution and the changes in lifestyles of the people are majorly identified to be the responsible factors for an increase in the demand for eye care products throughout the world.
- Technological and scientific advancements are identified to be some of the key driving factors.
- Rapid growth in the tendency of the people towards infections along with problems like insomnia have led to an increase in the demand for eye care products.
- Beliefs such as eye care is necessary only when there are problems, pose to be restraining factors.
- The market for eye care products is further categorized by the types of products that the various companies sell such as eye wash, eye scrubs etc.
- Variety of eye care products that specialize in the skin type and disorders have led to an upward trend in the market demand for the eye care products as they help in avoiding skin-reactions.
- The introduction of Infini-cils has become a milestone in technological and scientific advancements in the industry.
- Companies such as Laneige, It’s Skin and Neutrogena are some of the flourished companies in the market that provide eye care products for cosmetic purposes.
- Companies like Bausch and Lomb, Johnson and Johnson, Clear Eyes are the dominating players in the market for medical purposes.
- Contact lenses market has also been seen to be growing due to rising awareness of eye care. It is also seen that a significant number of people opt for zero number lenses to avoid damage of eyes due to excess use of digital screens.
- Change in lifestyle including extensive use of digital screens, uneven routines and improper diet have been the key driving factors while asymmetric or incorrect information among the people act as restraining factors. Decrease in the resistance towards germs and pollution are responsible for an increase in the demand for eye care products.
- Along with problem-specific products, the competitors are also coming up with various eye care products that are age-specific. This helps in reducing the chances of allergic reactions.
Companies considered and profiled
Bausch and Lomb, Clear Eyes, It’s Skin, ALCON, Allergen, Cipla, Laneige, Johnson and Johnson and Neutrogena
- Europe holds the largest market share of 39% with North America right behind it at a market share of 33.6%
- Asia Pacific region holds a significantly small share of the market. It holds a share of 26.9%. However, it is the fastest growing market region with a CAGR of 4.9%.
- Artificial tear drops occupy the largest market share accounting for 51.2% of the market. Eye scrubs are the fastest growing products in the market with a CAGR of 6.5%.
- Ointments are closing in on the demand with 25.4% market share.
- Technological advancements along with scientific developments in the industry such as Bionic Contact Lenses and Bionic Eye, play a pivotal role in increasing the demand for the eye care products.
- In the recent years, there has been a growth in the demand for Multi-purpose eye care products. In the current times, multi-purpose products dominate the market with a market share of 55%.
- Bausch and Lomb, Allergen and Alcon dominate the European markets.
- Johnson and Johnson completed its acquisition of Abbott Medical Optics. This included acquisition of ophthalmic products in the areas of consumer eye heath, cataract surgery and laser refractive surgery.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2030. For the purpose of this study, Reports and Data have segmented the Eye care products market on the basis of type, form, availability, application and region
Product type (Revenue, USD Million; 2020–2030)
- Artificial Tear Drops
- Eye Washes
- Eye Scrubs
Product form (Revenue, USD Million; 2020–2030)
Availability (Revenue, USD Million; 2020–2030)
- Retail pharmacy
- Online pharmacy
- Hospital pharmacy
Application (Revenue, USD Million; 2020–2030)
- Single-use/ single-purpose
Regional Outlook (Revenue in USD Million; 2020–2030)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
Buy quantitative research Report at discounted price – USD 1500 https://qyresearchmedical.com/report/checkout/119018/1500
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/