[Research Report] The preservative-free eye drops market size is projected to grow from US$ 1,129.60 million in 2022 to US$ 1,587.66 million by 2030; it is estimated to record a CAGR of 4.3% during 2022–2030.
Market Insights and Analyst View:
Eye drops are commonly incorporated with the preservative benzalkonium chloride (BAK). Overuse of BAK can cause eye irritation and worsen dry eye conditions. People using eye drops regularly or those who have dry eyes prefer drops without preservatives. Thus, the growing usage of preservative-free eye drops, the increasing awareness regarding potential side effects associated with preservatives, and an upsurge in eye-related issues (such as dry eye) in the aging population are likely to benefit the market in the coming years. The report includes growth prospects owing to the current preservative-free eye drops market trends and their foreseeable impact during the forecast period.
Growth Drivers:
Eye drops are prescribed for treating dry eye symptoms, allergic reactions, and eye redness. However, most eye drops contain a preservative component called benzalkonium chloride. Side effects caused by eye drops include blurred vision, increased sensitivity, watery eyes, redness, swelling of eyelids, sticky eyelashes, and discomfort. These side effects may vary from one individual to another. Preservative content, contamination, improper safety standards, and ongoing medications are the prime factors associated with the side effects caused by eye drops. As per the US Food and Drug Administration (FDA), all multidose ophthalmic solutions must be preserved against contamination from a standard group of microorganisms. However, long-term usage of these preservatives may cause harmful effects such as a decrease in the levels of intended impact, an allergic response, and a toxic reaction.
In such cases, preservative-free eye drops are prescribed for patients susceptible to reactions from preservatives and who need frequent applications. In recent years, several preservative-free eye drops have been introduced by manufacturers, such as preservative-free Systane Ultra HYDRATION Lubricant Eye Drops by Alcon. Moreover, research studies indicate that they may be more efficient at lubricating and protecting the eyes. Thus, increasing awareness among consumers regarding the potential adverse effects of preservatives has led to higher demand for preservative-free eye drops, thereby driving the preservative-free eye drops market growth.
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Preservative-Free Eye Drops Market: Strategic Insights
Market Size Value in US$ 1,129.60 million in 2022 Market Size Value by US$ 1,587.66 million by 2030 Growth rate CAGR of 4.3% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Preservative-Free Eye Drops Market: Strategic Insights
Market Size Value in | US$ 1,129.60 million in 2022 |
Market Size Value by | US$ 1,587.66 million by 2030 |
Growth rate | CAGR of 4.3% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The preservative-free eye drops market analysis was carried out based on the following segments: type, application, distribution channel, and geography. Based on type, the market is bifurcated into single-dose and multiple-dose. Based on application, the market is categorized into dry eye disease, eye allergy/infection, glaucoma, retinal disorders, and other indications. The market, by distribution channel, is segmented into hospital pharmacies, online pharmacies, drug stores, and retail pharmacies. The preservative-free eye drops market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Segmental Analysis:
The market, by type, is bifurcated into single-dose and multiple-dose. The single-dose segment held a significant preservative-free eye drops market share in 2022. In addition, the same segment is expected to register a higher CAGR in the market from 2022 to 2030.
Based on application, the market is fragmented into dry eye disease, eye allergy/infection, glaucoma, retinal disorders, and other indications. The dry eye disease segment held a significant preservative-free eye drops market share in 2022. The market or this segment is expected to grow at the highest CAGR from 2022 to 2030. Dry eye disease results in discomfort, irritation, and visual disturbance. As per the “National Health and Wellness Survey” conducted in the US in April 2020, ~16.4 million people were diagnosed with dry eye. Preservative-free eye drops are usually recommended for people with moderate to severe dry eye. Thus, the growing cases of dry eyes worldwide fuel the demand for preservative-free eye drops.
Based on the distribution channel, the preservative-free eye drops market is segmented into hospital pharmacies, drug stores retail pharmacies, and online pharmacies. The hospital pharmacies segment held the largest share of the market in 2022. The online pharmacies segment is expected to register the highest CAGR during 2022–2030.
Regional Analysis:
The geographic scope of the preservative-free eye drops market report entails North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America captured a significant share of the market. In 2022, the US dominated the preservative-free eye drops market in this region. The presence of large market players, increasing incidence of retinal diseases, burgeoning incidence of dry eye disease, and surging awareness of side effects of preservatives boost the preservative-free eye drops market growth in North America. In the US, dry eye disease is a common but underdiagnosed disorder, and an increase in the nation’s population’s ages is likely to result in a higher prevalence of dry eye disease in the coming years in the country. As per the Centers for Disease Control and Prevention, the primary causes of blindness and low vision in the US are age-related eye diseases such as macular degeneration, diabetic retinopathy, cataracts, and glaucoma. According to the National Health and Wellness Survey data published in 2020, 6.8% of the adult population was diagnosed with dry eye in the US. As per the article titled “Risk factors for ocular surface damage in Mexican patients with dry eye disease: a population-based study,” published in 2019, nearly 58% of people complained about dry eyes.
In December 2020, Alcon launched a professional line of preservative-free Systane Ultra HYDRATION Lubricant Eye Drops in Canada, the newest addition to its revolutionary portfolio of dry eye solutions. This eye drops combine hyaluronic acid and HP-guar, a potent combination of ingredients that provides long-lasting dry eye relief for people with moderate to chronic dry eyes. The extending availability of such products is further expected to support the growth of the preservative-free eye drops market in North America during the forecast period.
Preservative-Free Eye Drops Market Report Scope
Industry Developments and Future Opportunities:
The preservative-free eye drops market forecastcan help stakeholders plan their growth strategies. Initiatives taken by companies operating in the global market are listed below:
- In July 2023, Bausch + Lomb acquired the Blink product line from Johnson & Johnson Vision for US$ 106.5 million in cash. The acquisition expands the company's over-the-counter product portfolio in eye care. The Blink portfolio of eye drops contains various eye drops and contact lens rewetting drops, including Blink tears preservative-free lubricating eye drops, which offer immediate and long-lasting symptom relief.
Competitive Landscape and Key Companies:
Nemera, Alcon Inc., Bausch & Lomb Incorporated, Eyekare Kilitch Ltd., Essex Bio-Technology Limited, Pillar5 Pharma Inc., Ivizia, Allergan PLC, CorneaCare Inc., and Bayer are among the prominent players profiled in the preservative-free eye drops market report. These companies focus on introducing new high-tech products, upgrading their existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The preservative-free eye drops market was valued at US$ 1,129.60 million in 2022.
The preservative-free eye drops market is expected to be valued at US$ 1,587.66 million in 2030.
Preservative-free eye drops are ocular solutions that do not contain preservatives. Preservatives are typically added to prevent bacterial contamination in eye drops. However, some people may be sensitive or allergic to these preservatives. Preservative-free eye drops for dry eyes do not contain BAK. If a person uses eye drops regularly and has dry eyes, it is better to prefer something without preservatives.
The preservative-free eye drops market majorly consists of the players, including Nemera, Alcon Inc., Bausch & Lomb Incorporated, Eyekare Kilitch Ltd., Essex Bio-Technology Limited, Pillar5 Pharma Inc., Ivizia, Allergan PLC, CorneaCare Inc., and Bayer.
The factors driving the growth of the preservative-free eye drops market include increasing eye-related diseases among the geriatric population and growing awareness regarding potential side effects associated with preservatives. However, the increasing number of product recalls hampers the growth of the preservative-free eye drops market.
The global preservative-free eye drops market is segmented based on type, application, and distribution channel. The preservative-free eye drops market, by type, is bifurcated into single-dose and multiple-dose. The single-dose segment held a significant share of the market in 2022. In addition, the same segment is expected to register a higher CAGR in the market from 2022 to 2030.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Preservative-Free Eye Drops Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Preservative-Free Eye Drops Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Preservative-Free Eye Drops Market - Global Market Analysis
6.1 Preservative-Free Eye Drops - Global Market Overview
6.2 Preservative-Free Eye Drops - Global Market and Forecast to 2030
7. Preservative-Free Eye Drops Market – Revenue Analysis (USD Million) – By Type, 2020-2030
7.1 Overview
7.2 Single-Dose
7.3 Multiple-Dose
8. Preservative-Free Eye Drops Market – Revenue Analysis (USD Million) – By Application, 2020-2030
8.1 Overview
8.2 Dry Eye Disease
8.3 Eye Allergy/Infection
8.4 Glaucoma
8.5 Retinal Disorders
8.6 Other Indications
9. Preservative-Free Eye Drops Market – Revenue Analysis (USD Million) – By Distribution Channel, 2020-2030
9.1 Overview
9.2 Hospital Pharmacies
9.3 Drug Stores and Retail Pharmacies
9.4 Online Pharmacies
10. Preservative-Free Eye Drops Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
10.1 North America
10.1.1 North America Preservative-Free Eye Drops Market Overview
10.1.2 North America Preservative-Free Eye Drops Market Revenue and Forecasts to 2030
10.1.3 North America Preservative-Free Eye Drops Market Revenue and Forecasts and Analysis - By Type
10.1.4 North America Preservative-Free Eye Drops Market Revenue and Forecasts and Analysis - By Application
10.1.5 North America Preservative-Free Eye Drops Market Revenue and Forecasts and Analysis - By Distribution Channel
10.1.6 North America Preservative-Free Eye Drops Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Preservative-Free Eye Drops Market
10.1.6.1.1 United States Preservative-Free Eye Drops Market, by Type
10.1.6.1.2 United States Preservative-Free Eye Drops Market, by Application
10.1.6.1.3 United States Preservative-Free Eye Drops Market, by Distribution Channel
10.1.6.2 Canada Preservative-Free Eye Drops Market
10.1.6.2.1 Canada Preservative-Free Eye Drops Market, by Type
10.1.6.2.2 Canada Preservative-Free Eye Drops Market, by Application
10.1.6.2.3 Canada Preservative-Free Eye Drops Market, by Distribution Channel
10.1.6.3 Mexico Preservative-Free Eye Drops Market
10.1.6.3.1 Mexico Preservative-Free Eye Drops Market, by Type
10.1.6.3.2 Mexico Preservative-Free Eye Drops Market, by Application
10.1.6.3.3 Mexico Preservative-Free Eye Drops Market, by Distribution Channel
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Saudi Arabia
10.4.3 U.A.E
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Preservative-Free Eye Drops Market - Key Company Profiles
13.1 Nemera
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 Alcon Inc.
13.3 Bausch and Lomb Incorporated
13.4 Bayer
13.5 Eyekare Kilitch Ltd
13.6 Essex Bio-Technology Limited
13.7 Pillar5 Pharma Inc.
13.8 Allergan plc
13.9 iVIZIA
13.10 CorneaCare Inc.
14. Appendix
14.1 Glossary
14.2 About The Insight Partners
14.3 Market Intelligence Cloud
The List of Companies - Preservative-Free Eye Drops Market
- Nemera
- Alcon Inc.
- Bausch & Lomb Incorporated
- Eyekare Kilitch Ltd.
- Essex Bio-Technology Limited
- Pillar5 Pharma Inc.
- iVIZIA
- Allergan PLC
- CorneaCare Inc.
- Bayer
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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