Malaysia
eye drop market is anticipated to grow significantly in the projected period of
2028. Malaysia's eye drop market has experienced significant growth in recent
years. This can be attributed to an increase in eye-related disorders,
increased awareness of eye health, and the introduction of new and advanced eye
drop products in the market. Eye drops are liquid drops that are typically
applied in small amounts, such as one or a few drops, directly to the surface
of the eye. Saline is typically present in eye drops to match the salinity of
the eye. Artificial tears, or drops containing only saline and occasionally a
lubricant, are frequently used to treat dry eyes or mild eye irritation like
itching or redness. Several different eye diseases can be treated with eye
drops that also contain one or more medications. Due to the increased demand
for eye drops and related products, the Malaysia eye drop market is
flourishing. The rising incidence of eye diseases is another factor influencing
the expansion of the Malaysian eye drop market. In Malaysia, the prevalence of
myopia among children and young adults has increased along with age-related eye
diseases. Growing awareness of the significance of eye health is another factor
driving growth in the Malaysian eye drop market, in addition to aging
population and increase in the prevalence of eye diseases. As people age, the
risk of developing eye diseases such as cataracts, glaucoma, and age-related
macular degeneration increases.
According
to the World Bank, in 2020, more than 7% of the population was over 65, which
met the standard definition of an "ageing society" used
internationally. Malaysia will be an "aged society" by 2044, where
14% of the population is predicted to be over 65 and by 2056. Malaysia will be
a "super-aged society" with more than 20% of the population being
over 65. Information on
eye health and the significance of routine eye exams is more widely available
than ever due to the growth of social media and other digital channels. Both
domestic and foreign businesses are investing in the Malaysian eye drop market.
The Malaysian eye drop market will grow during the forecast period because of
several multinational companies entering the market in recent years and
bringing with them cutting-edge technologies and products. In addition to the
factors mentioned above, the increasing disposable income of the population has
also contributed to the growth of the eye drop market in Malaysia. With higher
disposable incomes, people are more likely to spend money on eye drops, which
is expected to grow the Malaysian eye drop market. The Malaysian government has
also been promoting eye health and awareness through various campaigns and
initiatives. This has led to an increase in demand for eye drop products, as
people are becoming more proactive about taking care of their eye health. The
availability of a wide range of eye drops in the market is also driving the
growth in this sector. There are many different types of eye drops available in
Malaysia, each designed to treat specific conditions. For example, artificial
tears are used to treat dry eyes, while antihistamine drops are used to manage
allergies. The availability of these products has made it easier for people to
manage their eye problems and has contributed to the overall growth of the eye
drop market in Malaysia. The rise in demand for eye drops has not gone
unnoticed by manufacturers, and many companies are now focusing on developing
new products to cater to this growing market. Additionally, advancements in
technology have resulted in the development of innovative and effective eye
drop products that cater to specific eye conditions, hence augmenting the
growth of the Malaysia eye drop market.
Rising
Geriatric Population is Expanding the Malaysian Eye Drop Market
The
geriatric population in Malaysia is rapidly increasing, and this has led to a
rise in the demand for eye drops in the country. Eye drops are used to treat a
variety of eye-related problems, such as dry eyes, allergies, and infections.
As people age, their eyes become more vulnerable to various diseases, such as
cataracts, glaucoma, and macular degeneration. These conditions can cause
vision loss and impair quality of life. Eye drops are an effective way to
manage these conditions, and they are becoming increasingly popular among the
elderly population in Malaysia. Another factor contributing to the rise in
demand for eye drops in Malaysia is the increasing prevalence of diabetes.
Diabetes can cause a range of eye problems, such as diabetic retinopathy, which
can lead to blindness if left untreated. According to the National Health
and Morbidity Survey 2019, in Malaysia, type 2 diabetes (T2D) prevalence has
increased to 20.8% in persons over the age of 30, affecting 2.8 million people.
As the number of diabetics in Malaysia increases, so does the demand for eye
drops to manage their eye-related complications. According to the Department
of Statistics Malaysia (DoSM), the proportion of Malaysia's population
over the age of 65 increased as well, from 5% in 2010 to 6.8% in 2020 and by
2050, more than 15% of Malaysia's population would be over the age of 65.
Rising
Prevalence of Eye Diseases is Booming the Malaysia Eye Drop Market
In
recent years, Malaysia has seen a rise in the prevalence of eye diseases, with
an increasing number of individuals suffering from eye-related problems such as
cataracts, glaucoma, dry eye syndrome, and age-related macular degeneration
(AMD). This rise in the incidence of eye diseases has led to a corresponding
boom in the Malaysia eye drop market as individuals seek out products that can
help alleviate their symptoms and maintain good eye health. One of the major
drivers of the Malaysia eye drop market is the increasing incidence of
cataracts, which is a leading cause of blindness in the country. According
to the National Library of Medicines, in 2022, the prevalence of cataract among
older people was 26.8%. Glaucoma is another eye disease that is becoming
increasingly prevalent in Malaysia. The condition is often referred to as the
"silent thief of sight" as it often progresses slowly and without
symptoms, until significant vision loss occurs. As a result, early detection
and treatment are critical in preventing vision loss from glaucoma, and many
individuals turn to eye drops as a first line of defense, leading to the rise I
demand for the Malaysia eye drop market. Dry eye syndrome is yet another
condition that is on the rise in Malaysia, particularly among those who spend
long hours working on computers or smartphones. The condition is characterized
by a lack of lubrication on the surface of the eye, which can cause discomfort,
redness, and blurred vision. Eye drops containing artificial tears are often
used to alleviate these symptoms. Age-related macular degeneration (AMD) is
also becoming more prevalent in Malaysia, particularly as the population ages.
The condition is a leading cause of vision loss in individuals over the age of
60, and while there is no cure, there are several treatments available,
including eye drops that can help slow the progression of the disease. In
response to the rising prevalence of eye diseases, the Malaysia eye drop market
has become increasingly competitive, with a wide range of products now
available to suit different needs, these companies offer a range of eye drops
targeting various conditions, including dry eye, glaucoma, and cataracts. The
Malaysia eye drop market is highly competitive, with both local and international
players competing for market share leading to the growth of the Malaysian eye
drop market.
Recent
Development
- In
November 2021, with the FDA's approval, AbbVie's Vuity for presbyopia
became the first eye drop treatment for the widespread eye condition. With
its pHast proprietary technology, which AbbVie uses for Vuity, the
medication can quickly adapt to the pH of the tear film.
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Market
Segmentation
Malaysia
eye drop market is segmented into type, drug class, disease indication,
distribution channel, region, and company. Based on type, Malaysia eye drop
market is divided into prescription and over the counter. Based on drug class,
Malaysia eye drop market is categorized into antiallergy, anti-inflammatory,
antiglaucoma, anti-VEGF, and others. Based on disease indication, Malaysia eye
drop market is categorized into dry eye diseases, glaucoma, eye allergy, eye
infections, retinal disorders, and others. Based on distribution channel,
Malaysia eye drop market is categorized into hospitals pharmacy, retail
pharmacy, and online pharmacy. Based on region, the Malaysia eye drop market is
segmented into the East Malaysia and West Malaysia.
Company
Profiles
Alcon
Laboratories (Malaysia) Sdn Bhd, Johnson & Johnson, CooperVision Contact
Lens Malaysia Sdn Bhd, Metro optical Group Eyeware, TRB CHEMEDICA, Xepa
Laboratories Pte. Ltd, Thea Pharma Sdn Bhd, Systane, and Rohto are some of the
key players of Malaysia eye drop market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
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Report Coverage
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Revenue forecast,
volume forecasting, Company shares, competitive landscape, growth factors,
and trends
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Segments Covered
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Type
Drug Class
Disease Indication
Distribution Channel
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Country Scope
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The East Malaysia
and The West Malaysia
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Key Companies Profiled
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Alcon
Laboratories (Malaysia) Sdn Bhd, Johnson & Johnson, CooperVision Contact
Lens Malaysia Sdn Bhd, Metro optical Group Eyeware, TRB CHEMEDICA, Xepa
Laboratories Pte. Ltd, Thea Pharma Sdn Bhd, Systane, Rohto
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Customization Scope
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10% free report customization with purchase.
Addition or alteration to country, regional & segment scope.
|
|
Pricing and Purchase
Options
|
Avail customized
purchase options to meet your exact research needs.
|
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Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report
Scope:
In this report,
the Malaysia eye drop market has been segmented into the following categories,
in addition to the industry trends, which have also been detailed below:
- Malaysia Eye Drop Market, By Type:
- Prescription
- Over the Counter
- Malaysia Eye Drop Market, By Drug
Class:
- Antiallergy
- Anti-inflammatory
- Antiglaucoma
- Anti-VEGF
- Others
- Malaysia Eye Drop Market, By
Disease Indication:
- Dry Eye Diseases
- Glaucoma
- Eye Allergy
- Eye Infections
- Retinal Disorders
- Others
- Malaysia Eye Drop Market, By
Distribution Channel:
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Malaysia Eye Drop Market, By
Region:
- The East Malaysia
- The West Malaysia
Competitive
landscape
Company
Profiles: Detailed
analysis of the major companies in Malaysia 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).
Malaysia 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]