Report : Dry Eye Products Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product (Antibiotic Drops, Hormone Drops, Artificial Tears, and Others); Type (Prescription Drugs, and OTC Drugs), and Geography
Market for Hormone Dropsto Grow at Highest CAGR during 2020–2027
According to our latest study on “Dry Eye Product MarketForecast to 2027– COVID-19 Impact and Global Analysis– by product, and type,”the market was valued at US$ 6,385.14 million in 2019 and is projectedto reach US$ 9,141.01 millionby2027; it is expected to grow at a CAGR of 4.8%during 2020–2027. The report highlights trends prevailing in the global dry eye productmarket,and the drivers and hindrances pertaining to the market growth.
The global dry eye productmarket,based on product, is segmented into artificial tears, antibiotic drops, hormone drops, and others.The artificial tearssegment held the largest share of the market in 2019, and this growth is ascribed tothe increasing product launch and easy availability as over the counter drug globally. However, the hormone dropssegment is estimated to register the highest CAGR during the forecast period. Also, the COVID-19 pandemic has negatively impacted the global market. The market in North American countries such as the US, Canada, and Mexico was totally closed for two to three months as the strict lockdown was imposed. The lockdown situation has resulted in a fall down a visit to healthcare facilities centers, and fewer prescriptions have been issued for ophthalmic conditions.
The growth of the dry eye productmarket is attributed to factors such asrising incidences of dry eye and growing older population. However, the side effects caused due to eye drops restrain the growth of the market.Novartis AG; Santen Pharmaceutical Co., Ltd; Johnson and Johnson Services, Inc; OASIS Medical; URSAPHARM Arzneimittel GmbH; ROHTO Pharmaceutical Co.,Ltd; OCuSOFT Inc; Bausch Health Companies Inc; AbbVie Inc; and Prestige Consumer Healthcare Incare among the leading companies operating in the global dry eye productmarket.
The report segments global dry eye productmarket as follows: