Report : North America Dry Eye Products Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product [Antibiotic Drops, Hormone Drops, Artificial Tears (OTC Artificial Tears and Prescription Artificial Tears), and Others] and Type (Prescription Drugs and OTC Drugs)

At 5.3% CAGR, the North America Eye Products Market is speculated to be worth US$ 4,421.66 million by 2028, says Business Market Insights          

According to Business Market Insights’ research, the North America eye products market was valued at US$ 3,084.29 million in 2021 and is expected to reach US$ 4,421.66 million by 2028, registering a CAGR of 5.3% from 2021 to 2028. Rising incidences of dry eye and growing older population are the critical factors attributed to the market expansion.                    

The incidence of dry eye is commonly seen in older people of age 65 and above. The number of geriatric populations is increasing rapidly across the region. The older population is becoming a significant social transformation such as depending on the other for financial needs and wellness on the younger people in the present century. Older people are significantly contributing to the development of the medical sector as it is helps by offering various innovative techniques to treat older people. Various healthcare companies design their products by focusing on geriatric population. As the degeneration process among older people is much faster, they are highly prevalent to dry eye conditions. Therefore, the high prevalence of dry eye among older population is likely to promote manufacturers to introduce new dry eye products in the market, which, in turn, contributes to the growth of the market. The development in the healthcare industry has enabled to offer various hi-tech healthcare facilities that have allowed offering increased life expectancy. Countries across the region are adopting new techniques to treat older people safely and effectively. Therefore, the increased quality of life is decreasing the death rates, and the older population is significantly growing all over the region. The growing geriatric population is expected to increase the demand for dry eye products such as artificial tears. These are available over the counter (OTC) and can be used as a supplement to natural tears. 

On the contrary, side effects caused due to eye drops hurdles the growth of North America eye products market.   

Based on product, the North America dry eye products market is segmented into artificial tears, antibiotic drops, hormone drops, and others. The artificial tears segment held 48.8% market share in 2021, amassing US$ 1,503.59 million. It is projected to garner US$ 2,112.78 million by 2028 to expand at 5.0% CAGR during 2021–2028. The artificial tears segment is further bifurcated into OTC artificial tears and prescription artificial tears.   

Based on type, the North America dry eye products market is bifurcated into OTC drugs and prescription drugs. The OTC drugs segment held 55.1% market share in 2021, amassing US$ 1,700.13 million. It is projected to garner US$ 2,380.79 million by 2028 to expand at 4.9% CAGR during 2021–2028.   

Based on country, the North America dry eye products market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 70.9% market share in 2021. It was assessed at US$ 2,185.22 million in 2021 and is likely to hit US$ 3,194.67 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.         

Key players dominating the North America dry eye products market are AbbVie Inc; Bausch Health Companies Inc.; Johnson and Johnson Services, Inc.; Novartis AG; OASIS Medical; OCuSOFT Inc.; Prestige Consumer Healthcare Inc.; ROHTO Pharmaceutical Co, Ltd.; Santen Pharmaceutical Co., Ltd.; and URSAPHARM Arzneimittel GmbH among others.     

  • In Feb 2021, Allergan launched Refresh Digital, a new lubricant eye drop designed to specifically relieve dryness and irritation caused by prolonged screen time.    
  • In July 2021, TheraTears was acquired by Prestige Consumer Healthcare Inc. The acquisition of TheraTears added to Prestige's leading eye care portfolio and provide the company with new long-term growth prospects.  

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