Market Size of Allergy Relieving Eye Drops Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.14 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Allergy Relieving Eye Drops Market Analysis
The allergy-relieving eye drops market is expected to register a CAGR of 4.14% during the forecast period.
The COVID-19 pandemic has substantially impacted the allergy-relieving eye drops market. The strict lockdowns and government regulations slowed the spread of COVID-19, resulting in supply chain disruptions. The ophthalmic care system was affected severely during the pandemic due to lockdown restrictions. For instance, according to an article published by PLOS One journal in March 2022, an observational study was conducted in a community hospital in Taiwan, which showed a significant decrease in the number of ophthalmic outpatients during the pandemic. Furthermore, according to an article published by PubMed in December 2020, a study conducted in a COVID-19 hotspot in the United States showed that the total number of eye-specific visits dropped considerably during the pandemic compared to prior years, and patients were found to be more reluctant to seek eye care. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market has regained its traction as the pandemic has subsided.
The rise in prevalence and incidence rates of eye-related disorders, increased geriatric population, and growing research and development in eye allergy medication are expected to boost the allergy-relieving eye drops market during the forecast period.
Eye Allergy has been increasing in recent years. According to an article published by PubMed in October 2020, the prevalence of ocular allergies has been growing worldwide for the past several decades. The geographical distribution and hot spots of rhinoconjunctivitis have been documented in a global survey by the International Study of Asthma and Allergies in Childhood (ISAAC). According to ISAAC, Africa, Latin America, and Japan have a considerably high prevalence of rhinoconjunctivitis. Furthermore, according to the data by the World Bank Group in 2021, the population aged 65 and above (as a percentage of the total population) increased from 6.57 percent in 2020 to 6.78 percent in 2021; the rising geriatric population will be accompanied by more eye problem which will increase the usage of allergy relieving eye drops. Hence, it is expected to enhance the market growth.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For example, in September 2020, Dr. Reddy's Laboratories launched an over-the-counter (OTC) eye allergy drop Olopatadine Hydrochloride Ophthalmic Solution, in the United States market. Thus, owing to the product launches by key market players, the studied market is expected to have significant growth over the forecast period.
Therefore, owing to the factors above, the studied market is anticipated to witness growth over the analysis period. However, side effects from allergy-relieving eye drops, including irritation, headache, and others, have been restraining the overall development of this market.
Allergy Relieving Eye Drops Industry Segmentation
As per the scope of the report, an allergic reaction occurs when a person's immune system reacts to an allergen in the environment, either indoors or outdoors. An allergen is any substance that causes allergy symptoms in sensitive individuals. Allergy-relieving eye drops are thus used to prevent and treat itching of the eyes caused by allergies. The Allergy Relieving Eye Drops Market is Segmented by Drug Class (Antihistamines, Non-steroidal anti-Inflammatory Drugs, Vasoconstrictors, Others), Type (Seasonal and Perennial Allergic Conjunctivitis, Vernal Keratoconjunctivitis, Atopic Keratoconjunctivitis, Giant Papillary Conjunctivitis, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across significant global regions. The report offers the value (in USD million) for the above segments.
| By Drug Class | |
| Antihistamines | |
| Non-steroidal anti-Inflammatory Drugs | |
| Vasoconstrictors | |
| Others |
| By Type | |
| Seasonal and Perennial Allergic Conjunctivitis | |
| Vernal Keratoconjunctivitis | |
| Atopic Keratoconjunctivitis | |
| Giant Papillary Conjunctivitis | |
| Others |
| Geography | ||||||||
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Allergy Relieving Eye Drops Market Size Summary
The allergy-relieving eye drops market is poised for growth, driven by an increasing prevalence of eye-related disorders and a rising geriatric population. The market experienced initial setbacks due to the COVID-19 pandemic, which disrupted supply chains and reduced ophthalmic care visits. However, as the pandemic's impact wanes, the market is regaining momentum. The growing incidence of ocular allergies, as highlighted by global surveys, and advancements in research and development for eye allergy medications are expected to further propel market expansion. The introduction of new products and strategic initiatives by key players, such as Dr. Reddy's Laboratories and Bausch + Lomb, are also contributing to the market's positive outlook.
North America is a dominant region in the allergy-relieving eye drops market, supported by a well-developed healthcare system, high awareness of allergy care, and easy product availability. The increasing prevalence of eye disorders in the United States, coupled with significant investments in research and development, is expected to drive market growth in this region. The market is characterized by a fragmented landscape with several global and regional players, including AbbVie Inc., Johnson & Johnson, and Novartis AG, among others. Recent product launches and regulatory approvals, such as the preservative-free eye drops by Bausch Health, are anticipated to enhance market growth further. Despite the potential for growth, the market faces challenges from side effects associated with allergy-relieving eye drops, which may hinder overall development.
Allergy Relieving Eye Drops Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Incidence of Ocular Diseases
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1.2.2 Increasing Research and Development in Eye Allergy Medication
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1.3 Market Restraints
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1.3.1 Side Effects from Eye Drops
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Drug Class
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2.1.1 Antihistamines
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2.1.2 Non-steroidal anti-Inflammatory Drugs
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2.1.3 Vasoconstrictors
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2.1.4 Others
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2.2 By Type
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2.2.1 Seasonal and Perennial Allergic Conjunctivitis
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2.2.2 Vernal Keratoconjunctivitis
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2.2.3 Atopic Keratoconjunctivitis
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2.2.4 Giant Papillary Conjunctivitis
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Allergy Relieving Eye Drops Market Size FAQs
What is the current Allergy Relieving Eye Drops Market size?
The Allergy Relieving Eye Drops Market is projected to register a CAGR of 4.14% during the forecast period (2024-2029)
Who are the key players in Allergy Relieving Eye Drops Market?
Johnson & Johnson, Novartis AG, Bausch Health, Santen Pharmaceutical Co., Ltd. and AbbVie Inc. are the major companies operating in the Allergy Relieving Eye Drops Market.
