India Eye Drop Market to be dominated by Lubricant Eye Drops through 2029
The increase in eye infections
and inflammation is expected to drive the growth of the India eye drop market
during the forecast period.
According to TechSci Research
report, “India Eye Drop Market - By Region, Competition, Forecast, and
Opportunities, 2019-2029”, the India eye drop market is anticipated to grow
at an impressive rate during the forecast period. This can be ascribed due to
the growing popularity of online sales in the India eye drop market. The
popularity of online sales channels for the India eye drop market is increasing
due to several factors. One of the primary factors is the convenience and
accessibility of online shopping, which allows consumers to purchase products
from the comfort of their own homes and have them delivered to their doorstep.
Online sales channels also provide a wider range of products and brands, as
consumers can easily compare prices and product specifications across different
websites. This is particularly beneficial for consumers who live in remote or
rural areas with limited access to brick-and-mortar stores. The COVID-19
pandemic has further accelerated the growth of online sales channels in the
India eye drop market as consumers have been hesitant to visit physical stores
due to health and safety concerns. The growing popularity of online sales
channels is expected to continue driving the growth of the India eye drop
market, providing consumers with greater access to a wide range of products and
convenient shopping options. Although, it is important to note that online
sales channels also pose certain challenges, including the risk of counterfeit
products and the need for stringent quality control measures to ensure product
safety and efficacy.
However, major trend in the
India eye drop market is to emphasize on product differentiation and branding.
With the increasing competition in the market, companies are emphasizing
product differentiation and branding to stand out from their competitors. This
includes developing unique packaging, improving user experience, and offering
specialized products for specific eye conditions. Manufacturers differentiate
their products from their competitors by using different active ingredients,
formulations, and delivery systems. Some eye drops are often packaged in small,
easy-to-use vials or droppers, making it easy for patients to apply the
medication to their eyes. While other manufacturers may also use eye-catching
designs and colors to make their products stand out on store shelves or online
marketplaces.
Challenge which is being faced
by India Eye Drop Market is Counterfeit Products, Counterfeit eye drops may not
contain the correct ingredients, dosage, or may have contamination, which can
lead to serious health problems for consumers. The India eye drop market is
subject to stringent regulations and approvals, which can be time-consuming and
costly for manufacturers. This can hinder innovation and product development,
leading to a lack of variety and competition in the market. Specialty eye drops
are often expensive and have limited availability, particularly in rural areas.
This can limit the accessibility of these products to patients who need them
the most.
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in-depth TOC on "India Eye Drop Market.”
The India eye drop market can be
segmented by type, drug class, disease infection, distribution channel, and by
region. Based on type, the market can be segmented into prescriptions and over
the counter. Over the counter (OTC) eye drops are widely available in the India
eye drop market. These eye drops do not require a prescription from a doctor
and can be purchased directly from pharmacies, supermarkets, or online stores.
Over the counter eye drops are generally used to treat mild or temporary eye
conditions such as dryness, redness, or allergies. Some of the common types of
OTC eye drops available in the India market, include lubricating eye drops,
which help to relieve dry eyes by adding moisture to the eyes; antihistamine
eye drops, which help to reduce redness, itching, and swelling caused by
allergies; and decongestant eye drops, which help to relieve redness and
swelling caused by eye irritation. It is important to note that while over the
counter eye drops may be convenient and accessible, individuals should still
exercise caution when using them. Overuse or misuse of eye drops can lead to
adverse effects and can worsen certain eye conditions. It is always recommended
to consult with a healthcare professional before using any eye drops,
especially if an individual has an underlying eye condition or is using other
medications. Additionally, individuals should always follow the instructions on
the label and seek medical attention if they experience any adverse effects or
their symptoms worsen.
Based on distribution channel,
the India eye drop market can be segmented into hospitals pharmacy, retail
pharmacy, and online pharmacy. Retail pharmacies play a significant role in the
India eye drop market. These pharmacies serve as an important distribution channel
for eye drops, making them easily accessible to consumers across the country.
Retail pharmacies may include chain pharmacies, independent pharmacies, and
online pharmacies. Chain pharmacies, such as Apollo Pharmacy, Med Plus, and
Reliance Pharmacy, are well-established in the India market and offer a wide
range of eye drops from various brands. These pharmacies often have multiple
locations across the country and may offer additional services such as home
delivery and online ordering. Independent pharmacies, while less common than
chain pharmacies, may offer more personalized service and may carry a unique
selection of eye drops that are not widely available. Online pharmacies, such
as Net meds, Med life, and 1mg, have also gained popularity in recent years,
offering consumers the convenience of ordering eye drops from the comfort of
their own homes. Retail pharmacies may also offer discounts and promotions on
eye drops, making them more affordable for consumers. Additionally, pharmacists
at these pharmacies may provide valuable information and advice to consumers
regarding the proper use and dosage of eye drops, as well as potential side
effects and interactions with other medications.
Major companies operating in the
India eye drop market are:
- Cipla Ltd.,
- Alcon Laboratories (India) Pvt. Ltd.
- Allergan India Pvt. Ltd.
- Bausch & Lomb India Pvt. Ltd.
- Reddy's Laboratories Ltd.
- Lupin Ltd.
- Novartis India Ltd.
- Pfizer Ltd.,
- Sun Pharmaceutical Industries Ltd.
- Torrent Pharmaceuticals Ltd
In 2021, the Indian pharmaceutical
company Cipla Ltd. announced the acquisition of a 100% stake in Brandmed Pvt.
Ltd., a company that specializes in marketing and distributing ophthalmic
products.
In 2021, Alcon Laboratories
(India) Pvt. Ltd. announced the launch of Systane Hydration, an eye drop
designed to provide long-lasting relief from dry eye symptoms.
In 2018, Allergan India Pvt.
Ltd., a subsidiary of Allergan plc, acquired the ophthalmic products business
of Pfizer Ltd. in India. This acquisition allowed Allergan to expand its product
portfolio and strengthen its presence in the Indian eye care market.
In 2017, Cipla Ltd. acquired the
rights to market and distribute a range of ophthalmic products from the Swiss
pharmaceutical company, Novartis AG, in India.
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“The India eye drop market is
expected to grow during the forecast period due to the rising demand for
nutraceuticals with medical benefits along with the growing preference for
personalized nutrition across the country. Furthermore, the India eye drop
market presents significant opportunities for companies involved in the
development, manufacturing, and distribution of eye drops. As the market
continues to grow, companies that can effectively differentiate their products
and establish strong brand recognition are likely to succeed in this highly
competitive market. Besides, rising concern about healthy lifestyles and
increasing expenditure on health and wellness are further expected to create
lucrative opportunities for the market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Eye Drop MarketBy
Type (Prescription, Over-The-Counter), By Drug Class (Antiallergy,
Anti-inflammatory, Antiglaucoma, Anti-VEGF, and Others), By Disease Indication
(Dry Eye Diseases, Glaucoma, Eye Allergy, Eye Infections, Retinal Disorders,
and Others), By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, and
Online Pharmacy), and, By Region, Competition, Forecast, and Opportunities,
2019-2029”, has evaluated the future growth potential of
the India eye drop market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the India eye
drop market.
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