At 4.0% CAGR, the Middle East & Africa Eye Drops Market is projected to be worth US$ 580.44 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa eye drops market was valued at US$ 424.84 million in 2022 and is expected to reach US$ 580.44 million by 2030, registering a CAGR of 4.0% from 2022 to 2030. Rising prevalence of ophthalmic diseases and high incidence of age-related eye diseases are the critical factors attributed to the Middle East & Africa eye drops market expansion.        

The incidence of ophthalmic diseases such as diabetic retinopathy, glaucoma, and dry eye leading to vision impairment is rising among the population in several countries. A dry eye is caused by multiple factors that result in discomfort, irritation, and visual disturbance. Diabetic retinopathy represents microvascular end-organ damage. It progresses from non-proliferative diabetic retinopathy stages to proliferative diabetic retinopathy. As the disease progresses, associated diabetic macular edema may also become apparent. According to an article published by the American Academy of Ophthalmology, it is estimated that by 2030 an estimated 191 million people globally will suffer from diabetic retinopathy. According to an article published by the World Health Organization (WHO) in 2022, ~2.2 billion people worldwide suffer from near or distant vision impairment. The leading causes of vision impairment are cataracts (~94 million cases) and uncorrected refractive errors (~88.4 million cases). Doctors generally prescribe eye drops for the treatment and prevention of ophthalmic diseases. Hence, the increasing prevalence of ophthalmic diseases is fueling the growth of the Middle East & Africa eye drops market.

On the contrary, Product recalls hampers the Middle East & Africa Eye Drops Market.  

Based on type, the Middle East & Africa eye drops market is segmented into antibiotics, artificial tears, hormones, and others. The antibiotics segment held 39.1% share of Middle East & Africa eye drops market in 2022, amassing US$ 166.18 million. It is projected to garner US$ 231.29 million by 2030 to expand at 4.2% CAGR during 2022–2030. 

Based on application, the Middle East & Africa eye drops market is segmented into eye diseases, eye care, and others. The eye diseases segment held 64.3% share of Middle East & Africa eye drops market in 2022, amassing US$ 272.98 million. It is projected to garner US$ 369.38 million by 2030 to expand at 3.9% CAGR during 2022–2030. The eye diseases segment is further segmented into dry eye, glaucoma, cataract, and others.

Based on purchase mode, the Middle East & Africa eye drops market is segmented into OTC and prescription. The prescription segment held 58.0% share of Middle East & Africa Eye Drops Market in 2022, amassing US$ 246.31 million. It is projected to garner US$ 344.26 million by 2030 to expand at 4.3% CAGR during 2022–2030.

Based on country, the Middle East & Africa eye drops market has been categorized into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 35.5% share of Middle East & Africa eye drops market in 2022. It was assessed at US$ 150.73 million in 2022 and is likely to hit US$ 215.23 million by 2030, exhibiting a CAGR of 4.6% during 2022–2030.      

Key players operating in the Middle East & Africa eye drops market are AbbVie Inc, Alcon AG, Bausch & Lomb Inc, Pfizer Inc, and Rohto Pharmaceutical Co Ltd, among others.   

• In June 2023, Bausch + Lomb Corporation has entered into a definitive agreement with Novartis under which Bausch + Lomb will acquire XIIDRA (lifitegrast ophthalmic solution) 5%, a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease (DED) focusing on inflammation associated with dry eye.

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