Sterile Eye Irrigation Solutions Market Segmented By packaging type that is Refill Bottle, Squeeze Bottle, Replacement Bottle, Disposable Single Use Ampules, and by distribution channel that is Online Pharmacy, Retail Pharmacy, Hospital Pharmacy.
Industry: Healthcare
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP22687
The healthy way of living lies in personal hygiene. The eye is referred as the window of the human body and a very vital organ. Hence, special attention should be paid towards cleanliness of eyes. Taking right care for your eyes will help eradicate common health problems such as eye allergy, puffy eyes, dark circles, blindness of the eyes and cataract etc. Other external factors such as pollution and stress also affects the health of eyes.
Hence, it is essential to protect and take care of our eyes for effective vision. Proper eye care includes leaning of eyes with sterile eye wash solution twice daily which will help in getting relief from irritation, burning sensation, discomfort and itching. The sterile eye irrigation solution also helps remove foreign material, air contaminants and chlorinated water from the eyes.
Unhealthy lifestyle and stress has been a cause of concern in the past. With widespread awareness among the general population to maintain healthy eyes, there lies the demand of sterile eye irrigation solutions. There are plenty of sterile eye irrigation solutions products available in the market today which can be bought as over-the-counter products as well as prescription solutions. They also comes in one or more active ingredients.
As per the statistics of National Eye Institute, an estimated 1.3 million Americans are blind and 2.9 million Americans have low vision. Cataract, Age-related Macular Degeneration (AMD), Glaucoma, Refractive Error and Cataract holds maximum share in all eyes related disorder which are the primary cause of visual impairment and legal blindness.
With high prevalence of eye related disorder among all age groups, studies have indicated that there is an increasing incidence of eye related infections among kids and geriatric population which demands usage of sterile eye irrigation solutions.
There is also a high demand of sterile eye irrigation solutions in among contact lens users, computer users and drivers. Further, demand also arises from the manufacturing sector which helps in prevention and cure of various eye injuries caused by foreign objects, cuts, chemical fumes and radiation.
Global market for sterile eye irrigation solutions is driven by various factors such as low cost of the products and increasing incidence of dry eye, age-related macular degeneration (AMD), and allergies. Also, the ease in availability of eye care products over the counter and increasing emergence of e-commerce.
Besides this, rapid FDA approvals in sterile eye irrigation solutions market along with shortening approval times for new drug development to help accelerate the drug supplies. This is expected to increase the revenue for sterile eye irrigation solutions over the forecast period.
Apart from this, rapidly rising geriatric population in developing and developed economies and elevating prevalence of eye-related allergies are gardening the growth of sterile eye irrigation solution products. However, the factors such as counterfeiting of eye care products, fierce competition among the key players, and side effects of common medication are the major obstacles in the market growth of sterile eye irrigation solution products.
Other factors such as delays in manufacturing or shipping, shortages in active pharmaceutical ingredients and stringent government regulations are expected to impact the global sterile injectable drug market in a negative way over the forecast period.
Sterile eye irrigation solutions market is spurred by increasing number of sterile solution manufacturers focusing on production expansion, sales and promotional activities in the developing nations.
Rising eye care awareness programs, increasing eye disorders, availability of new products in regions such as Asia Pacific and Latin America is going to further spur revenue growth during the forecast period. Also, rapidly rising geriatric population in developing and developed economies and elevating prevalence and incidence of eye-related allergies are gardening the growth of sterile eye irrigation solution products.
Hospital Pharmacies & Retail Pharmacies pose a strong position in the market due to invasive nature of sterile eye irrigation solutions. These distribution channel shared significant portion of revenue share in overall market. However, online pharmacy to mark a significant growth in this market.
Further, the growing trend of hospital pharmacy, retail pharmacy, and online pharmacy will expected to set a substantial share in the market due to gradual increase in adoption of eye solutions worldwide.
Geographically, global sterile eye irrigation solutions market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America will continue to dominate the global sterile eye irrigation solutions market. Large number of drug manufacturers in the U.S. are focusing on increasing their sales by opening new manufacturing facilities for developing advanced sterile eye irrigation solutions.
This is expected to boost the revenues for the global sterile eye irrigation solutions in North America over the forecast period. However it has been reported that Europe does not suffers from drug shortage supply attributed to higher price of generics in European countries.
Rising eye care awareness programs, increasing eye disorders, availability of new products in regions such as Asia Pacific and Latin America is going to further spur revenue growth during the forecast period.
For majority of the manufacturing companies, sterility remains the foremost factor for eye irrigation solutions. New manufacturing is also coming on line. Rising interest in injectable could ease shortages. The solutions are also useful with hard and soft contact lenses.
Additionally, Companies are involved in collaboration agreements for R&D in order to exploit maximum potential, as well as new manufacturing units have also come online which is in turn driving the revenue growth of sterile eye irrigation solutions market.
Some of the major players operating in global Sterile Eye irrigation solutions market Crest Medical, Medline Industries, Inc., Bausch & Lomb Incorporated, Alcon, Walgreens Co., Sigma Pharmaceuticals, LLC., Magid Glove & Safety Manufacturing Company LLC, and others.
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PMR utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, disease epidemiology and consumption of Sterile Eye Irrigation Solutions to obtain precise market estimations and insights. Production is mapped for various Tier1 and Tier 2 manufacturers to understand the global production capacity of Sterile Eye Irrigation Solutions.
Further, the demand Sterile Eye Irrigation Solutions is analysed for each region which helps us analyse the consumption of Sterile Eye Irrigation Solutions. Other factors considered while estimating the market includes treatment rate, prescription pattern, and treatment duration.
Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.
Further, Parent market (Ophthalmology Solutions Market) for Sterile Eye Irrigation Solutions will be analysed to understand the percentage contribution in the current market.
On the other hand, we also analyze all the key companies’ annual reports_bk_01_01_2020, investor presentations, and SEC filings, 10k reports_bk_01_01_2020 for key financials and to analyze segmental revenue. News and press release also analyzed to fetch substantial information on the key developments, trends, opportunities which helps us understand the market structure and estimate market share. Key companies are segmented at Tier level based on their revenues, product portfolio and presence.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.
Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.
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