North America Eye Drops Market Forecast to 2030 - Regional Analysis - by Type, Application {Eye Diseases, Eye Care, and Others}, and Purchase Mode

The North America eye drops market is expected to grow from US$ 8,030.88 million in 2022 to US$ 12,289.12 million by 2030. It is estimated to grow at a CAGR of 5.5% from 2022 to 2030.

Rising Prevalence of Ophthalmic Diseases Fuels North America Eye Drops Market

The incidence of ophthalmic diseases such as diabetic retinopathy, glaucoma, and dry eye leading to vision impairment is rising among the population, especially in developed countries. A dry eye is caused by multiple factors that result in discomfort, irritation, and visual disturbance. According to a study,"National Health and Wellness Survey," conducted in the US in April 2020, ~16.4 million people were diagnosed with dry eye. The data also stated that the prevalence had surged by 2.7% among people aged 18−34 years. According to Novaliq GmbH, ~17 million Americans currently suffer from dry eye disease.

Diabetic retinopathy represents microvascular end-organ damage. It progresses from non-proliferative diabetic retinopathy stages to proliferative diabetic retinopathy. As the disease progresses, associated diabetic macular edema may also become apparent. According to an article published by the American Academy of Ophthalmology, it is estimated that by 2030 an estimated 191 million people globally will suffer from diabetic retinopathy. According to Medscape, ~700,000 people in the US suffer from proliferative diabetic retinopathy, with ~65,000 new cases recorded annually.

According to an article published by the World Health Organization (WHO) in 2022, ~2.2 billion people worldwide suffer from near or distant vision impairment. The leading causes of vision impairment are cataracts (~94 million cases) and uncorrected refractive errors (~88.4 million cases). Doctors generally prescribe eye drops for the treatment and prevention of ophthalmic diseases. Hence, the increasing prevalence of ophthalmic diseases is fueling the growth of the North America eye drops market .

North America Eye Drops Market Overview

The North America eye drops market has been segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the rising awareness of dry eye conditions, an increase in the aging population, and technological advancements in eye treatment procedures with the rising incidence of eye disorders. Dry eye disease is a common but underdiagnosed condition in the US. The growing geriatric population further triggers the prevalence of dry eye disease. According to the Centers for Disease Control and Prevention (CDC), age-related eye diseases such as macular degeneration, cataract, diabetic retinopathy, and glaucoma are the leading causes of blindness and low vision in the US. Other common eye disorders reported in the country include amblyopia and strabismus. With aging populations and the increased frequency of younger adults receiving refractive surgeries, dry eye is expected to affect as many as 2.79 million men in the US by 2030.

The US is the largest and fastest-growing country in the North America eye drops market. The market in this country is ascribed to the increasing incidence of dry eye disease among people. Various companies offering different eye drops and lenses to treat dry eye condition have presence in the US. Also, the rising healthcare expenditure favors the growth of the North America eye drops market in the US.

North America Eye Drops Market Revenue and Forecast to 2030 (US$ Million)

North America Eye Drops Market Segmentation

The North America eye drops market is segmented into type, application, purchase mode, and country.

Based on type, the North America eye drops market is segmented into antibiotics, artificial tears, hormones, and others. The antibiotics segment held the largest share of the North America eye drops market in 2022.

Based on application, the North America eye drops market is segmented into eye diseases, eye care, and others. The eye diseases segment held the largest share of the North America eye drops market in 2022. The eye diseases segment is further segmented into dry eye, glaucoma, cataract, and others.

Based on purchase mode, the North America eye drops market is segmented into OTC and prescription. The prescription segment held a larger share of the North America eye drops market in 2022.

Based on country, the North America eye drops market is segmented into the US, Canada, and Mexico. The US dominated the North America eye drops market in 2022.

AbbVie Inc, Akorn Operating Company LLC, Alcon AG, Bausch & Lomb Inc, Pfizer Inc, Prestige Consumer Healthcare Inc., Rohto Pharmaceutical Co Ltd, and Similasan Corp are some of the leading companies operating in the North America eye drops market.

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