Medical term for liquid medication applied to the eyes.
医者から点眼薬を処方された。
The doctor prescribed eye drops for me.
目薬 is the everyday word for eye drops, while 点眼薬 is the more formal/medical term used on packaging and in clinical contexts.
Compound of 点眼 (てんがん, 'instillation into the eye') + 薬 (やく, 'medicine').