Report : Europe Dry Eye Products Market Forecast to 2031 - Regional Analysis - by Product (Artificial Tears, Anti-Inflammatory Drugs, Punctal Plugs, Secretagogues, Oral Omega Supplements, and Others), Dosage Form (Eye Drops, Gel, Capsules and Tablets, and Others), Type (OTC and Prescription), and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy)
At 4.6% CAGR, Europe Dry Eye Products Market is Projected to be Worth US$ 2,311.60 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Europe dry eye products market was valued at US$ 1,617.59 million in 2023 and is expected to reach US$ 2,311.60 million by 2031, registering a CAGR of 4.6% from 2023 to 2031. Increasing initiatives for eye care awareness and ongoing research and growing pipeline for dry eye products are among the critical factors attributed to drive the Europe dry eye products market growth.
In recent years, various initiatives have been taken to create awareness and educate people regarding eye diseases, prompting patients to access suitable medications and treatments. ABP focuses on moderate to severe vision damage caused by glaucoma and retinal conditions that are responsible for a large proportion of preventable blindness.
The International Agency for the Prevention of Blindness (IAPB) launched the global campaign named “Love Your Eyes” in 2022 to raise awareness of the socioeconomic importance of eye health. The campaign calls upon governments and global institutions to support eye health. The IAPB emphasizes programs and initiatives in India and the world, which promptly focus on offering accessible, available, and affordable eye care. The “Love Your Eyes” program also calls for regulation changes and funding to make eye care accessible, available, and affordable by 2030.
The Karolinska Institute, Sweden, offers grants to promote research on eye diseases. In 2020, the institute announced US$ 5,900–17,000 (SEK 50,000–150,000) per person to fund new research projects on eye diseases.
Thus, increasing funds for eyecare research and rising initiatives to spread awareness about eye care are likely to create new opportunities in the dry eye product market in the coming years.
On the contrary, side effects of eye drops and product recalls hamper the growth of Europe dry eye products market.
Based on product, the Europe dry eye products market is segmented into artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, oral omega supplements, and others. The artificial tears segment held 47.8% market share in 2023, amassing US$ 773.65 million. It is projected to garner US$ 1,121.23 million by 2031 to register 4.8% CAGR during 2023–2031. Furthermore, the anti-inflammatory drugs segment is subcategorized into cyclosporine, corticosteroid, and others. Additionally, the punctal plugs segment is subsegmented into dissolvable and removable.
In terms of dosage form, the Europe dry eye products market is segmented into eye drops, gel, capsules and tablets, and others. The eye drops segment held 64.8% share Europe dry eye products market in 2023, amassing US$ 1,048.37 million. It is anticipated to garner US$ 1,525.41 million by 2031 to expand at 4.8% CAGR during 2023–2031.
By type, the Europe dry eye products market is bifurcated into OTC and prescription. The OTC segment held 57.7% share of Europe dry eye products market in 2023, amassing US$ 933.97 million. It is projected to garner US$ 1,372.74 million by 2031 to expand at 4.9% CAGR from 2023 to 2031.
Based on distribution channel, the Europe dry eye products market is categorized into retail pharmacy, hospital pharmacy, and online pharmacy. The retail pharmacy segment held 46.0% share of Europe dry eye products market in 2023, amassing US$ 744.81 million. It is predicted to garner US$ 1,059.32 million by 2031 to expand at 4.5% CAGR between 2023 and 2031.
Based on country, the Europe dry eye products market is categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 26.5% share of Europe dry eye products market in 2023. It was assessed at US$ 428.69 million in 2023 and is likely to hit US$ 620.92 million by 2031, registering a CAGR of 4.7% during 2023–2031.
Key players operating in the Europe dry eye products market are Santen Pharmaceutical Co Ltd, Johnson & Johnson, OASIS Medical, URSAPHARM Arzneimittel GmbH, Rohto Pharmaceutical Co Ltd, OCuSOFT Inc, Bausch Health Companies Inc, AbbVie Inc, Prestige Consumer Healthcare Inc, Farmigea SpA, and Alcon AG, among others.
- In September 2023, Bausch + Lomb Corporation (“Bausch + Lomb”), a subsidiary of Bausch Health Companies Inc completed its acquisition of XIIDRA (lifitegrast ophthalmic solution) 5%, a non- steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease focusing on inflammation associated with dry eye, and certain other ophthalmology assets.
- In April 2021, MY OASIS is a cyber platform that allows eye care practitioners to grow their brand as a dry eye resource, broaden the reach of their practice, and provide access to solutions that can improve the quality of life for dry eye patients in their region. Its simple and intuitive design ensures a pleasant user experience.
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