India eye drop market is
anticipated to witness impressive growth during the forecast period. This can
be ascribed due to the increasing awareness about eye health and the
availability of healthcare infrastructure in India, leading to higher diagnosis
and treatment rates for eye diseases. The rise in eye diseases such as
glaucoma, cataracts, and dry eye syndrome is increasing in India due to factors
such as aging population, changing lifestyle patterns, and pollution. This is
driving the demand for eye drops that can provide relief from these conditions.
Moreover, the rising disposable income in India is enabling people to spend
more on healthcare, including eye care. This is driving the demand for higher
quality and more effective eye drops. The development of new drug delivery
systems, such as Nano emulsions and microneedle patches, is driving innovation
in the India eye drop market. These advancements are expected to lead to the
development of more effective and convenient eye drops. The major formulations
include solutions, suspensions, ointments, and emulsions. The Indian government
has launched various initiatives to promote eye health, such as the National
Program for Control of Blindness and Visual Impairment (NPCB&VI). This is
expected to increase the demand for eye drops in the country, which, in turn,
will propel the growth of the India eye drop market during the forecast period.
Innovation In Drug Delivery
Systems
The development of new drug
delivery systems, such as Nano emulsions and microneedle patches, is driving
innovation in the India eye drop market. These advancements are expected to
lead to the development of more effective and convenient eye drops.
Some of the innovative drug
delivery systems that are being developed and used in the India eye drop market
are Nanotechnology, which involves the use of nanoparticles to deliver drugs to
the eye. This approach can enhance the bioavailability of drugs, increase their
stability, and reduce the need for preservatives. Several Indian companies are
working on the development of nanotechnology-based eye drops. Microneedle
patches are a novel drug delivery system that involves the use of tiny needles
to deliver drugs to the eye. This approach can improve drug delivery efficiency
and reduce the frequency of dosing. Indian companies are working on the
development of microneedle patches for the treatment of eye diseases. Ocular
inserts are small, thin devices that are inserted into the eye to deliver drugs
over an extended period. These devices can improve drug delivery efficiency and
reduce the need for frequent dosing. Several Indian companies are working on
the development of ocular inserts for the treatment of eye diseases. Liposomes are
lipid-based drug delivery systems that can encapsulate drugs and improve their
bioavailability. Several Indian companies are working on the development of
liposome-based eye drops.
Hydrogels are water-based
polymers that can retain large amount of water and deliver drugs over an
extended period. These systems can improve the bioavailability and stability of
drugs. Several Indian companies are working on the development of
hydrogel-based eye drops. These advancements can improve drug delivery
efficiency, increase bioavailability, and reduce the need for frequent dosing,
leading to more effective and convenient treatment options for patients with
eye diseases. Thus, innovation in drug delivery systems is driving the growth
and development of the India eye drop market.
Increasing Prevalence of Eye
Diseases
The prevalence of eye diseases
such as glaucoma, cataracts, and dry eye syndrome is increasing in India due to
factors such as aging population, changing lifestyle patterns, and pollution.
This is driving the demand for eye drops that can provide relief from these
conditions. Eye drops for dry eye syndrome work by lubricating the eyes and
relieving dryness and irritation. They may contain substances such as
artificial tears, sodium hyaluronate, or carboxymethylcellulose, which help to
moisturize the eyes and maintain tear film stability. Some eye drops for dry
eye syndrome also contain anti-inflammatory agents to reduce inflammation and
irritation. Eye drops for glaucoma work by lowering intraocular pressure (IOP)
in the eye, which can help to prevent damage to the optic nerve and reduce the
risk of vision loss. These eye drops may contain medications such as
prostaglandin analogs, beta-blockers, alpha-adrenergic agonists, or carbonic
anhydrase inhibitors, which work to reduce the production of aqueous humor or
increase its outflow from the eye. Eye drops for allergies work by reducing
inflammation and relieving symptoms such as itching, redness, and swelling.
They may contain antihistamines, mast cell stabilizers, or corticosteroids,
which work to block histamine release, prevent mast cell degranulation, or
reduce inflammation in the eye.
It is important to note that
different eye drops may be used for different stages or types of these
conditions, and the exact mechanism of action may vary depending on the
specific medication or combination of medications used. It is also important to
use eye drops as directed by a healthcare professional and to avoid overuse or
misuse of these products, which can lead to adverse effects. As the prevalence
of eye diseases increases, there is a greater need for high-quality and
effective eye drops. This is driving innovation and improvements in the
development of new eye drop formulations, which, in turn, will fuel the growth of
the India eye drop market during the forecast period.
Aging Population
As people age, they become more
susceptible to a range of eye disorders, including cataracts, glaucoma, and
age-related macular degeneration. These conditions often require long-term treatment
with eye drops to manage symptoms and prevent vision loss. According to
the World Health Organization, the number of people aged 60 years and above in
India is expected to reach 340 million by 2050, up from 100 million in 2011. This
demographic shift is expected to lead to a significant increase in the
prevalence of age-related eye diseases drive the demand for eye drops and other
ophthalmic products. Besides, the aging population is often more likely to have
multiple health conditions and take multiple medications, including eye drops,
to manage their health. This further increases the demand for eye drops in
India and creates opportunities for the development of new formulations and
drug delivery technologies to improve treatment outcomes and patient
compliance. To meet the increasing demands of the aging population, there is a
pressing need for increased Research & Development investment and the
progress of novel solutions. The aging population is expected to be a major
driver of growth in the India eye drop market in the coming years.
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Recent Development
In 2021, the Indian
pharmaceutical company, Sun Pharmaceutical Industries Ltd., announced a
collaboration with Ocugen Inc. to commercialize Covaxin, a COVID-19 vaccine
developed by Bharat Biotech in the United States.
In 2021, Allergan India Pvt.
Ltd. announced the launch of two new eye drops, Refresh Optive Mega-3 and
Refresh Optive Advanced, in India. These eye drops are designed to provide
relief from dry eye symptoms.
In 2021, the Indian pharmaceutical
company, Lupin Ltd., announced the launch of Tobramycin and Dexamethasone
Ophthalmic Suspension, a generic version of Tobradex, used for treating
bacterial infections in the eye.
In 2020, Bausch & Lomb India
Pvt. Ltd., a subsidiary of Bausch Health Companies Inc., collaborated with
Rohto Pharmaceutical Co. Ltd. to launch Rohto Dry-Aid, an over-the-counter eye
drop for dry eyes, in India.
In 2019, Sun Pharmaceutical
Industries Ltd. acquired Pola Pharma Inc., a Japanese pharmaceutical company
specializing in ophthalmic products, to expand its presence in the India eye
drop market.
Market Segmentation
The India eye drop market can be
segmented by type, drug class, disease indication, distribution channel, and
region. By type, the market can be segmented into prescription and over the
counter. By drug class, the market can be segmented into antiallergy,
anti-inflammatory, antiglaucoma, anti-VEGF, and others. By disease indication,
the market can be segmented into dry eye diseases, glaucoma, eye allergy, eye
infections, retinal disorders, and others. By distribution channel, the market
can be segmented into hospitals pharmacy, retail pharmacy, and online pharmacy.
By region, the market can be segmented into North India, South India, East
India, and West India.
Market Players
Cipla Ltd., Alcon Laboratories
(India) Pvt. Ltd., Allergan India Pvt. Ltd., Bausch & Lomb India Pvt. Ltd.,
Dr. Reddy's Laboratories Ltd., Lupin Ltd., Novartis India Ltd., Pfizer Ltd.,
Sun Pharmaceutical Industries Ltd., and Torrent Pharmaceuticals Ltd. are some
of the market players in the India eye drop market.
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Attribute
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Details
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|
Base
Year
|
2023
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Historic
Data
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2019 – 2022
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|
Estimated
Year
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2024
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Forecast
Period
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2024 – 2029
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Quantitative
Units
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Revenue in USD Million, and CAGR for 2018-2023 and 2024-2029
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|
Report
Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
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Type
Drug
Case
Disease
Indication
Distribution
Channel
|
|
Regional
scope
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North
India, South India, East India, West India
|
|
Key
companies profiled
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Cipla Ltd., Alcon
Laboratories (India) Pvt. Ltd., Allergan India Pvt. Ltd., Bausch & Lomb
India Pvt. Ltd., Dr. Reddy's Laboratories Ltd., Lupin Ltd., Novartis India Ltd., Pfizer Ltd., Sun
Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd.
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|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
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PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
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Report Scope:
In this report, the India eye
drop market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
- India Eye Drop Market, By Type:
o
Prescription
o
Over the Counter
- India Eye Drop Market, By Drug Class:
o Antiallergy
o Anti-inflammatory
o Antiglaucoma
o Anti-VEGF
o Others
- India Eye Drop Market, By Disease
Indication:
o Dry
Eye Diseases
o Glaucoma
o Eye
Allergy
o Eye
Infections
o Retinal
Disorders
o Others
- India Eye Drop Market, By Distribution
Channel:
o Hospitals
Pharmacy
o Retail
Pharmacy
o Online
Pharmacy
- India Eye Drop Market, By Region:
o North
India
o South
India
o East
India
o West
India
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the India eye drop market.
Available Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
India eye
drop market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]