India Eye Drops and Lubricants Market Size to Surpass Value of USD 1 Billion by 2030

Published | 10 July 2024

India Eye Drops and Lubricants Market is flourishing due to the increasing number of cases of dry eye syndrome, glaucoma, and diabetic retinopathy, the growing aging population with age-related eye issues, and the rise in screen time leading to more cases of dry eyes and eye strain.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Eye Drops and Lubricants Market size by value at USD 786.12 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Eye Drops and Lubricants Market size to expand at a CAGR of 6.26% reaching a value of USD 1,045.89 million by 2030. The Eye Drops and Lubricants Market in India is propelled by the increasing cases of dry eye syndrome, glaucoma, and diabetic retinopathy, alongside an aging population with age-related eye concerns. Screen time contributes to rising instances of dry eyes and eye strain, boosting demand for lubricating eye drops. Studies highlight varying prevalence rates across regions, such as North India's 32% incidence of Dry Eye Disease (DED) with severe cases, contrasting with South India's 1.46% incidence but anticipating future increases. Urbanization, environmental factors, and diagnostic standards influence regional DED rates. This disparity underscores robust market potential for eye care products, enhanced by innovations like Nano emulsions and microneedle patches, and supported by government health initiatives like the NPCB&VI, driving market growth.

Opportunity – Launch of innovative products

In India, the eye care market is witnessing notable advancements in products aimed at addressing various eye-related issues. Innovations such as laser eye surgery offer permanent vision correction solutions, gaining popularity among consumers. Additionally, there is a growing availability of advanced contact lenses and spectacle frames equipped with cutting-edge features, catering to diverse consumer preferences. The market also embraces online platforms, facilitating convenient access to a wide range of eye care products like eye drops and lenses. These innovations not only reflect technological advancements but also cater to increasing consumer demand for effective and accessible eye care solutions in the country

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Impact of Escalating Geopolitical Tensions on India Eye Drops and Lubricants Market

Intensifying geopolitical tensions can have a multifaceted impact on India Eye Drops and Lubricants Market. Uncertainties stemming from geopolitical instability can disrupt supply chains, leading to shortages in crucial laboratory equipment, reagents, and other essential medical supplies. Additionally, geopolitical instability can erode investor confidence and hamper market expansion efforts, potentially limiting the sector's growth potential. To maintain stability and sustain momentum in the face of these external uncertainties, adapting to the evolving geopolitical landscape becomes crucial. This can be achieved through supplier diversification, strategic stockpiling of raw materials, and the development of resilient business strategies.

India Eye Drops and Lubricants Market

Segmental Coverage

India Eye Drops and Lubricants Market – By Application

Based on application, India Eye Drops and Lubricants Market segmented into Eye Diseases, Eye Care, and Others (Contact Lens Care) segments. The eye diseases segment holds the highest share in India Eye Drops and Lubricants Market by application. The dominance is due to the widespread occurrence of various ocular conditions such as dry eye syndrome, allergies, infections, glaucoma, conjunctivitis, and refractive errors. Increasing awareness and diagnosis of these conditions, alongside advancements in treatment options like lubricating eye drops, contribute to rising demand. Manufacturers are actively innovating to cater to diverse patient needs, ensuring the efficacy and safety of products tailored to specific eye health concerns. This therapeutic focus underscores the segment's pivotal role in shaping India's market landscape for eye drops and lubricants.

Competitive Landscape

India Eye Drops and Lubricants Market is fragmented, with numerous players serving the market. The key players dominating India Eye Drops and Lubricants Market include Sun Pharmaceutical Industries Ltd, Allergan India Pvt Ltd (AbbVie Inc), Alcon Laboratories (India) Pvt Ltd, Cipla Ltd, Novartis India Ltd, Pfizer Ltd, Bausch & Lomb India Pvt Ltd, Dr Reddy's Laboratories Ltd, Lupin Pharmaceuticals Inc, Ajanta Pharma Ltd, Entod Pharmaceuticals Ltd, and Torrent Pharmaceuticals Ltd. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of India Eye Drops and Lubricants Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and India Eye Drops and Lubricants Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Eye Drops and Lubricants Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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