Allergy Relieving Eye Drops Market to Grow with a CAGR of 5.39% through 2031
Diverse product offerings, packaging innovations, and
seasonal & regional variations are expected to drive the Global Allergy
Relieving Eye Drops Market growth in the forecast period, 2027-2031.
According to TechSci Research report, “Allergy
Relieving Eye Drops Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2021-2031F”, the Global Allergy Relieving Eye Drops Market will grow from USD 2.97 Billion in 2025 to USD 4.07 Billion by 2031 at a 5.39% CAGR. This can be
attributed to seasonal and regional variation. The demand for allergy relieving
eye drops is often influenced by seasonal and regional factors. In regions with
high pollen counts during specific seasons, such as spring and fall, the market
experiences spikes in demand. Additionally, regional variations in allergens
and environmental factors contribute to the market's growth dynamics.
Furthermore, as the industry becomes more competitive,
collaborations and partnerships among pharmaceutical companies, eye care product manufacturers, and healthcare providers are increasingly common. These
alliances aim to leverage complementary strengths and resources to develop and
market innovative products more effectively.
The allergy-relieving eye drops market experienced
significant disruption due to the COVID-19 pandemic. Stringent lockdowns and
government regulations aimed at curbing the spread of COVID-19 led to
disruptions in the supply chain. The ophthalmic care system was particularly
hard-hit during this period due to lockdown restrictions. For instance, a March
2022 article published in PLOS ONE reported an observational study conducted at a community hospital in Taiwan that showed a substantial decrease in ophthalmic outpatient visits during the pandemic.
Additionally, a December 2020 article published in PubMed reported on a study conducted in a COVID-19 hotspot in the United States, which found a significant decline in eye-related visits compared with previous years, with patients exhibiting
reluctance to seek eye care. Consequently, the initial phase of the COVID-19
outbreaks negatively impacted market growth. However, as the pandemic subsided,
the market regained momentum.
Several factors are driving the anticipated growth of the allergy-relieving eye drops market. There is a rising prevalence and incidence
of eye-related disorders, an expanding geriatric population, and increased
research and development efforts in the field of eye allergy medication. Eye
allergies have been on the rise in recent years, as documented in an October
2020 PubMed article, which reported a global increase in the prevalence of
ocular allergies over several decades. The International Study of Asthma and
Allergies in Childhood (ISAAC) has documented the geographical distribution and hotspots of rhinoconjunctivitis, with high prevalence in Africa, Latin
America, and Japan. Moreover, according to World Bank Group data for 2021, the share of the population aged 65 and above increased from 6.57 percent in 2020 to 6.78 percent in 2021. This aging
demographic is expected to experience more eye problems, leading to increased
usage of allergy-relieving eye drops and thereby enhancing market growth.
Furthermore, the market is positively influenced by
new product launches and strategic initiatives by major players. For instance,
in September 2020, Dr. Reddy's Laboratories introduced an over the counter
(OTC) eye allergy drop, Olopatadine Hydrochloride Ophthalmic Solution, in the
United States market. These actions by key market players are expected to drive
significant growth in the market under study over the forecast period.
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The Global Allergy-Relieving Eye Drops Market is segmented by drug class, type, region, and company.
Given its drug class, there is anticipated significant growth in antihistamine use over the projected period.
Antihistamines are known for their ability to inhibit histamine release via histamine-1 receptors, thereby reducing symptoms of allergic reactions such as swelling, itching, redness, and watery eyes. An article from WebMD LLC, published in January 2022, notes that antihistamines play a crucial role in reducing histamine levels, thereby halting allergy symptoms. These antihistamines are effective in alleviating various allergic conditions, including seasonal allergies (e.g., hay fever), indoor allergies, and food allergies. Additionally,
research published in BMJ in April 2022 revealed a high prevalence of Diabetic
macular edema (DME) among patients, emphasizing the importance of
antihistamines in managing edema.
Furthermore, significant developments in
the market are positively influencing this segment's expansion. A
case in point is Bausch + Lomb, a prominent player in the global eye health
industry, which, in February 2021, introduced Alaway Preservative Free
(ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops in the
United States. These eye drops represent the first and only FDA-approved over
the counter (OTC) preservative-free solution for relieving eye itch due to
allergies.
Based on type, Seasonal and Perennial Allergic
Conjunctivitis are poised to dominate the Global Allergy Relieving Eye Drops
Market for several compelling reasons. Firstly, these forms of allergic
conjunctivitis are widespread and affect a substantial portion of the global
population; seasonal allergies typically occur during specific times of the year, whereas perennial allergies persist year-round. This wide prevalence
ensures a consistent and sustained demand for allergy-relieving eye drops.
Secondly, increasing awareness of environmental allergens, pollution, and climate change is driving more individuals to seek relief from allergic symptoms, thereby further fueling demand for specialized eye drops.
Additionally, advances in research and development have led to the development of more effective and targeted eye drop solutions for these conditions, enhancing their appeal to consumers and healthcare
professionals alike. As a result, the dominance of Seasonal and Perennial Allergic
Conjunctivitis in the Global Allergy Relieving Eye Drops Market is expected to
continue to strengthen in the coming years.
Major companies operating in Global Allergy
Relieving Eye Drops Market are:
- AbbVie Inc
- Johnson & Johnson
- Pfizer Inc
- F Hoffmann-La Roche AG
- Novartis AG
- Bausch Health Cos Inc
- Regeneron Pharmaceuticals Inc
- Santen Pharmaceutical Co Ltd
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“The Global Allergy Relieving Eye Drops Market is
experiencing a wave of innovation and transformation, driven by emerging trends
that cater to the diverse needs of allergy sufferers. From advanced
formulations and eco-friendly packaging to telemedicine integration and
personalized medicine, these trends are shaping the future of eye care
solutions. As the market continues to evolve, consumers can expect even more
effective, convenient, and sustainable options to manage their allergy-related
eye symptoms, improving their quality of life,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Allergy Relieving Eye Drops Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented 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), By Region, and By Competition 2021-2031F”, has evaluated the future growth potential of Global
Allergy Relieving Eye Drops Market and provides statistics & information on
market size, structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision-makers make sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Allergy
Relieving Eye Drops Market.
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