Ophthalmic Eye Dropper Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The ophthalmic eye dropper market size has grown strongly in recent years. It will grow from $12.38 billion in 2023 to $13.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to enhanced patient convenience, favorable regulatory environment, adoption of combination therapies, shift towards combination therapies, and preference for self-administered eye care products.
The ophthalmic eye dropper market size is expected to see strong growth in the next few years. It will grow to $17.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to the rising prevalence of eye-related conditions, public health initiatives, increasing use of precision and individualized medicines, consumer education initiatives, and research and development. Major trends in the forecast period include nanoparticle-based drug formulations, advanced drug delivery systems, emphasis on innovative drug delivery, collaborative efforts for innovative solutions, and a surge in demand for multi-dose eye droppers.
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Scope Of Ophthalmic Eye Dropper MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ophthalmic Eye Dropper Market Overview
Market Drivers -The increasing prevalence of eye disorders is expected to propel the growth of the ophthalmic eye dropper market going forward. Eye disorders refer to a broad spectrum of medical conditions that affect the eyes, impairing vision or causing discomfort. The increasing prevalence of eye disorders is due to environmental factors, increased use of contact lenses, lifestyle changes, gender differences, and vitamin deficiencies. Ophthalmic eye droppers are used to administer precise doses of medication directly to the eyes to treat various eye disorders. For instance, in January 2024, according to the Centers for Disease Control and Prevention, a US-based science and data-driven service organization that protects the public’s health, over 3.4 million Americans aged 40 years and older were blind or visually impaired, which is expected to double by 2030. Therefore, the increasing prevalence of eye disorders is driving the growth of the ophthalmic eye dropper market.
Market Trends –
Major companies operating in the ophthalmic eye dropper market are focusing on developing innovative solutions, such as antimicrobial ophthalmic droppers, to enhance product safety and efficiency. Antimicrobial ophthalmic droppers refer to eye droppers designed with antimicrobial technology to ensure sterile, hygienic applications for eye treatments. For instance, in March 2022, Pylote, a France-based industrial mineral chemistry specialist, and Berry Global Group Inc., a US-based packaging company, introduced an antimicrobial ophthalmic dropper, aiming to develop the first multidose dropper with antimicrobial protection. This dropper integrates Pylote’s patented mineral antimicrobial technology with Berry Global’s sustainable healthcare packaging expertise. It features antimicrobial technology at the tip to ensure hygienic use with every application and also reduces plastic waste compared to traditional monodose solutions while remaining compatible with existing treatments and packaging processes.
The ophthalmic eye dropper market covered in this report is segmented –
1) By Eye Dropper: Unidose Eye Dropper, Preserved Multi-Dose Eye Dropper, Preservative-Free Multi-Dose Eye Dropper
2) By Drug Type: Prescription Drugs, Over-The-Counter (OTC) Drugs
3) By Treatment Type: Dry Eye, Glaucoma, Allergies, Conjunctivitis, Other Treatment Type
4) By End-Use: Hospitals, Ophthalmic Centers, Homecare Settings, Other End-Users
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Regional Insights – North America was the largest region in the ophthalmic eye dropper market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ophthalmic eye dropper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the ophthalmic eye dropper market are Pfizer Inc., AbbVie Inc., Novartis AG, Alcon Inc., Bausch & Lomb Incorporated, Rexam Healthcare Packaging Inc., Intas Pharmaceuticals Ltd., AptarGroup Inc, Cipla Ltd, Gerresheimer AG, Lupin Ltd., Santen Pharmaceutical Co Ltd., Rohto Pharmaceutical Co Ltd., Silgan Dispensing Systems, Akorn Operating Company LLC, Nemera Development S.A., Ajanta Pharma Ltd., Perrigo Company plc, Bora Pharmaceuticals Co Ltd., Sun Pharmaceutical Industries Limited, Flagship Biotech International Private Limited, PanOptica Inc., SAS Yslab
Table of Contents 1. Executive Summary2. Ophthalmic Eye Dropper Market Report Structure3. Ophthalmic Eye Dropper Market Trends And Strategies4. Ophthalmic Eye Dropper Market – Macro Economic Scenario5. Ophthalmic Eye Dropper Market Size And Growth…..27. Ophthalmic Eye Dropper Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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