OTC Dry Eye Drops Market Size, Share & Trends Analysis Report By Product Type (With Preservative), By Condition Type (Dry Eye Syndrome), By Distribution Channel, By Region, And Segment Forecasts, 2023 To 2030

Over the counter (OTC) dry eye drops are non-prescription drops for eyes that can be purchased without a prescription from a doctor. The market is projected to grow due to the growing prevalence of dry eye disease (DED), rising demand for effective treatments, increasing awareness among the population about the condition, and presence of numerous options in the market.

In addition, according to the NCBI research studies, in 2021, it was estimated that the prevalence of dry eye syndrome in the geriatric population was around 33%. This number has likely increased in recent years due to the aging population and increased use of digital devices that can cause strain & dryness of eyes. Risk factors for dry eye syndrome in the elderly population are age-related changes in tear production; use of certain medications; systemic health conditions, such as arthritis & autoimmune disorders; and lifestyle factors, such as spending long hours looking at screens & living in dry climate. Thus, the rapidly growing geriatric population is expected to be a high impact-rendering driver for market.

The increasing use of contact lenses is another driving factor positively affecting the market. Contact lens-associated DED is recognized as a growing public health problem. According to Dove Medical Press, around 140 million individuals worldwide wear contact lenses, of which, approximately 10% to 50% of wearers stop contact lens usage within 3 years of commencement. One of the primary reasons reported is the sensation of dryness in the eyes among the users. Around 40% of soft contact lens wearers reported a sensation of dry eye, and about 25% were suffering from moderate to severe symptoms leading to decreased wearing times.

OTC dry eye drops market is expected to show fast growth rate which can be attributed to ease of purchase and usage associated with over-the-counter products. Major drug formulations are available in the form of drops and solutions that make OTC formulation more accessible and affordable for treatment.

North America dominated the OTC dry eye drops market attributable to the high prevalence of keratoconjunctivitis sicca (KCS). As per National Health and Wellness Survey conducted in 2022, approximately 6.8% of U.S adult population has been diagnosed with DED. This has created huge market opportunity for players, and manufacturers have responded by developing and promoting their products in this market. Moreover, consumers in North America are generally well-informed about their health and are proactive in seeking treatment for their ailments. As a result, there is a high level of awareness about DED and its treatment options, including OTC dry eye drops.

                    OTC Dry Eye Drops Market Segmentation

The OTC dye eye drops market is highly competitive and includes several key players. Some of the major companies operating in the OTC dye eye drops market include Alcon Inc., Bausch Health Companies Inc., Johnson & Johnson Services Inc., Novartis AG, Kala Pharmaceuticals Inc, Sun Pharmaceutical Industries Ltd. In addition, drug launches are one of the key factors boosting the market’s growth. Foer instance, in April 2022, Théa Pharma announced the availability of its OTC product range for sensitive eyelids in the U.S.