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OTC Dry Eye Drops Market - By Product Type (Preservative, Preservative-free), Type (Branded, Generics), Viscosity (Low, High), Distribution Channel (Online Pharmacies, Retail Pharmacies) – Global Forecast (2024 – 2032)
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OTC Dry Eye Drops Market
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Premium Report Details
Base Year: 2023
Companies covered: 14
Tables & Figures: 276
Countries covered: 23
Pages: 195
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OTC Dry Eye Drops Market Size
OTC Dry Eye Drops Market size was valued at around USD 3.7 billion in 2023 and is estimated to grow at 7.6% CAGR from 2024 to 2032. The rising incidence of dry eye syndrome is a significant driver for the market.
Over-the-counter (OTC) dry eye drops are non-prescription eye drops designed to alleviate symptoms associated with dry eye syndrome, a condition characterized by insufficient tear production or poor tear quality, leading to discomfort, irritation, and ocular inflammation. These drops are formulated to provide temporary relief from symptoms such as dryness, burning, itching, redness, and foreign body sensation in the eyes, making them an effective option for ocular inflammation treatment.
For instance, according to the National Institutes of Health (NIH), the global prevalence of dry eye disease was approximately 11.59%. For symptomatic disease, the estimate was 9.12%, among women, while among men, it was approximately 6.8% in 2021. Therefore, this underscores the growing demand for OTC dry eye drops in the market, as individuals seek accessible and effective solutions to manage the symptoms of dry eye syndrome, especially considering its significant prevalence worldwide.
Furthermore, growing awareness and self-care practices, increased screen time and digital device usage, and technological advancements in product formulations, are driving factors for the market growth.
OTC Dry Eye Drops Market Trends
In today's technology-driven world, digital devices have become integral to both work and leisure activities, the prevalence of dry eye syndrome is on the rise. The prolonged use of screens, including computers, smartphones, and tablets, has led to a significant increase in digital eye strain, characterized by symptoms such as dryness, irritation, and fatigue. As a result, there has been a growing demand for over-the-counter (OTC) dry eye drops, offer quick and convenient relief from these discomforts.
OTC Dry Eye Drops Market Analysis
Based on product type, the market is divided into preservative and preservative-free. The preservative segment of the OTC dry eye drops market is forecasted to reach USD 5.2 billion by 2032.
Based on type, the OTC dry eye drops market is bifurcated into branded and generics. The branded segment accounted for USD 2.9 billion in 2023.
Based on viscosity, the OTC dry eye drops market is bifurcated into low viscosity and high viscosity. The low viscosity segment accounted for USD 2.7 billion in 2023.
Based on end-use, the OTC dry eye drops market is bifurcated into online pharmacies, retail pharmacies, and other distribution channels. The retail pharmacies segment is forecasted to reach USD 3.2 billion by 2032.
The growth of the OTC dry eye drops market in the U.S., projected to reach USD 2.5 billion by 2032.
The OTC dry eye drops market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan OTC dry eye drops market is anticipated to witness lucrative growth between 2024 – 2032.
The OTC dry eye drops market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
OTC Dry Eye Drops Market Share
The OTC dry eye drops sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprint amidst evolving regulatory landscapes.
OTC Dry Eye Drops Market Companies
Some of the eminent market participants operating in the OTC dry eye drops industry include:
OTC Dry Eye Drops Industry News:
The OTC dry eye drops market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product Type
Market, By Type
Market, By Viscosity
Market, By Distribution Channel
The above information is provided for the following regions and countries: