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How has the otc dry eye drops market size evolved in recent years?

In recent times, the market size for OTC dry eye drops has experienced significant growth. It is projected to expand from a valuation of $3.49 billion in 2024 to $3.79 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 8.6%. Factors contributing to this growth during the historic period include a surge in digital device usage, changes in lifestyles, a rise in vision-threatening conditions, increasing screen time, and the preference for contact lenses.

What are the predictions for the otc dry eye drops market size in the coming years?

Expectations are high for robust expansion in the OTC dry eye drops market in the coming years. The market is predicted to reach $5.21 billion by 2029, with an 8.2% Compound Annual Growth Rate (CAGR). The growth is linked to factors like an increase in the aging population, greater understanding of eye health, heightened health awareness, a rise in dry eye syndrome cases, and enhanced consumer knowledge. The forecasted period is set to witness major developments such as advancements in technology and formulation technologies, a surge in partnerships, product innovations, and the rise in hydrogel technology.

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What key factors are fueling the growth of the otc dry eye drops market?

A surge in the utilization of digital gadgets is anticipated to fuel the expansion of the OTC dry eye drops market. Digital devices, which are electronic tools using digital technology for data processing and execution of certain operations, have experienced a rapid growth due to various reasons such as miniaturization, customer desire, digital shift, IoT’s emergence and the digital lifestyle. Over-the-counter dry eye drops offer a practical and effective remedy for dry eye symptoms, which may result from frequent or extended use of digital devices. This helps individuals keep optimum eye comfort and visual health in our increasingly digital world. For instance, Uswitch Limited, a financial regulatory authority in the UK, stated in February 2024 that there were 71.8 million mobile links in 2022, reflecting an increase of 3.8% from the previous year, or approximately 2.6 million additional connections. The UK is projected to house 68.3 million people by 2025, with nearly 65 million expected to own smartphones, accounting for roughly 95% of the total population. Hence, the mounting use of digital devices is propelling the development of the OTC dry eye drops market.

How is the global otc dry eye drops market divided into key segments?

The OTC dry eye drops market covered in this report is segmented –

1) By Type: Generics, Branded

2) By Product: Preservatives Free, With Preservatives

3) By Viscosity: High Viscosity, Low Viscosity

4) By Distribution Channel: Online Pharmacies, Drugstores And Supermarkets, Retail Pharmacies, Other Distribution Channels

Subsegments:

1) By Generics: Artificial Tears (Non-Prescription), Lubricating Drops, Moisturizing Eye Drops, Rewetting Drops For Contact Lens Wearers

2) By Branded: Brand-Specific Artificial Tears (Blink, Systane, Refresh), Prescription-To-Otc Switch Brands, Premium Lubricating Drops (With Added Ingredients Like Hyaluronic Acid, Vitamins)

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Who are the key firms paving the way for growth in the otc dry eye drops market?

Major companies operating in the OTC dry eye drops market are Pfizer Inc., Johnson & Johnson Services Inc., Novartis International AG, Allergan plc, Otsuka Pharmaceutical Co. Ltd., Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Prestige Consumer Healthcare Inc., AFT Pharmaceuticals Ltd., Sentiss Pharma Private Limited, VISUfarma B.V., Ursapharm Arzneimittel GmbH, Thea Pharmaceuticals Inc., Horus Pharma, Oasis Medical, Novaliq GmbH, Medicom Healthcare Ltd., Similasan AG, Altaire Pharmaceutical Inc.

What are the key trends shaping the future of the otc dry eye drops market?

The focus of leading companies in the OTC dry eye drops industry is on launching cutting-edge products such as preservative-free lubricant eye drops to maintain their market standing. These OTC eye drops, free from preservatives, are engineered to alleviate dry, irritated eyes. Take for example Alcon Inc., a Swiss medical device organisation specialising in eye care, which released Systane Complete Preservative-Free Lubricant Eye Drops in Europe in January 2022. This product’s unique moisturising and lipid delivery system guarantees uniform spread across the eye surface, efficiently mitigating dryness. The solution employs state-of-the-art nanodroplet technology for rapid hydration, protection against tear evaporation, and enduring comfort. The product is packaged in a user-friendly, multiple dose bottle, facilitated by exclusive PureFlow technology, which consists of a one-way valve designed to avert contamination and makes preservatives redundant.

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What regions are contributing significantly to the growth of the otc dry eye drops market?

North America was the largest region in the OTC dry eye drops market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the OTC dry eye drops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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