Life Sciences / Artificial Tears Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players - Abbott Laboratories (NYSE :ABT), Santen Pharmaceutical Co., Ltd. (OTC :SNPHY),
Artificial Tears Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - Abbott Laboratories (NYSE :ABT), Santen Pharmaceutical Co., Ltd. (OTC :SNPHY),
Registering a CAGR of 8.9% over the forecast period of 2022-2027, the Artificial Tears market is anticipated to reach the market value of US$ 3698.1 Million in the year 2027 from US$ 2627.4 Million in the year 2021.
Artificial Tears Market Overview
Artificial tears are referred to as lubricants eye drops which are used in treating the dryness and irritation associated with the deficiency in creating tears in dry eyes or keratoconjunctivitis sicca. During examinations and eye checkups, these tears are also used for moistening contact lenses. Artificial tears are used with other treatments to treat severe forms of moderate to dry eyes and are created to imitate the real tears and treating numerous eye problems. There has been brisk growth in the demand for artificial tears as dry eye syndrome cases are rising. These cases are also coming from teens and 20s due to prolonged exposure to blue light which is emitted from digital screens like mobiles, laptops along with dry weather spells and increased pollution levels.
The increasing incidences of dry eyes syndrome are boosting the demand for artificial tears across the globe. In this report, the Artificial Tears market is segmented by type, by end user age groups, and by geography. The Artificial Tears Market generated revenue of $2627.4m in 2021 and estimated to exceed $3698.1m by 2027, growing at an estimated CAGR of 8.9%.
There are several types of artificial tears such as glycerin-derived tears, propylene glycol-based tears, oil-based emulsion tears, cellulose-derived tears, polyethylene glycol tears and more. In this report, the artificial tears market will be segmented by geography, by type and end user age groups.
Industry News:
DUBLIN Allergan Expands REFRESH® Portfolio With New REFRESH® RELIEVA™ Lubricant Eye Drop Product Line
Allergan plc (NYSE: AGN), a leading global pharmaceutical company heritage in eye care, announced the launch of three new over-the-counter (OTC) REFRESH® RELIEVA™ products: REFRESH® RELIEVA™, REFRESH® RELIEVA™ PF (preservative-free) multidose, and REFRESH® RELIEVA™ FOR CONTACTS.
REFRESH®, a doctor recommended brand of artificial tears, continues to expand its portfolio by offering the only family of products in the U.S. with carboxymethylcellulose (CMC), hyaluronic acid (HA, an inactive ingredient), glycerin, and HydroCell™ technology Allergan's proprietary sodium chloride (NaCl) free, glycerin-based solution that enables hydration and maintains the volume of cells on the ocular surface.
Alcon Launches Systane Hydration Multi-Dose Preservative-Free Lubricant Eye Drops in the U.S.
Systane Hydration MDPF joins the fast-growing preservative-free segment of artificial tears, which represents over 40% of the global market.1Systane is the leading artificial tear brand globally2; however, up to now, it has not been available in a convenient, multi-dose preservative-free formulation.
“Dry eye patients who use drops frequently and patients following surgery often respond best to preservative-free artificial tears to help relieve their symptoms, restore ocular surface3 and provide long-lasting relief,” said Eric D. Donnenfeld, M.D., FAAO,* Ophthalmic Consultants of Long Island, NY.
Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health"), announced the U.S. launch of Biotrue® Hydration Boost Lubricant Eye Drops and Biotrue® Micellar Eyelid Cleansing Wipes. Both products are preservative-free and uniquely formulated with naturally inspired ingredients to relieve symptoms associated with irritated, dry eyes.
Artificial Tears Market Growth Drivers:
One of the major drivers of the artificial tears market is the growing prevalence of dry eye syndrome (DES) owing to several factors such as prolonged exposure to digital displays, rising pollution levels, protein and vitamin deficiencies, and climatic changes. The growing geriatric population and rising number of eye surgeries that demands the use of artificial tears for post-surgery management are also boosting the market growth.
Development of several preservative-free artificial tear brands such as Systane Ultra (Alcon), Blink Tears Preservative Free Drops (Johnson & Johnson Vision Care, Inc.) and REFRESH OPTIVE Preservative-Free (Allergan, Inc.), and their benefits on ocular health have also increased the adoption of lubricant eye drops. The Asia-Pacific artificial tears market is forecast to grow at the highest CAGR OF 5.68% during the forecast.
Artificial Tears Market Challenges:
The use of artificial tears is associated with several side effects such as blurred vision, long-term irritation, and so on, which is a major challenge for the artificial tears market. There are some preservatives that are present in artificial tears, which has several adverse effects on eye health. The development of various medications that are capable of reducing irritation caused by dry eye syndrome is also limiting the growth of the artificial tears market.
Artificial Tears Market Trends:
Increasing number of incidences of Dry Eye Syndrome (DES) across the world due to prolonged exposure to digital displays, rising pollution levels, protein and vitamin deficiencies, and climatic changes are driving the market for artificial tears.
Referred to the National Health and Wellness Study, approx. Between 5% to 30% of the people above 50 years in the United States are afflicted with dry eyes syndrome.
What are the major Applications, Types and Regions for Artificial Tears Market?
Artificial Tears Market is segmented based on the type, applications, companies and regions.
Artificial Tears Market has been segmented into By Type:
Dry Eyes Treatment
Contact Lenses Moisten
Others
Artificial Tears Market has been segmented into By Applications:
Artificial Tear Liquid
Artificial Tear Ointment
Others
Artificial Tears Market Regional Analysis:
The Artificial Tears market in the U.S. is estimated at US$436.6 Million. China, the world`s second largest economy, is expected to reach a projected market size of US$378.2 Million trailing a CAGR of 4.5%. Among the other noteworthy geographic markets are Japan and Canada, each forecasted to grow at 0.5% and 1.8% respectively. Within Europe, Germany is forecasted to grow at approximately 1.1% CAGR.
APAC countries are witnessing drop in the demand for artificial tears products. Moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines and India to prevent the transmission. The market is witnessing demand in artificial tear drops owing to increasing use of electronic devices.
The report offers in-depth assessment of the growth and other aspects of the Artificial Tears Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
What is our Artificial Tears Market report scope?
Reports Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 8.9% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Artificial Tears Report
Evaluate Artificial Tears market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Artificial Tears market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Frequently Asked Questions
What is the study period of this market?
The Artificial Tears Market is studied from 2017 - 2027.
Who are the key players in Artificial Tears Market?
Allergan, Alcon (Novartis), Bausch & Lomb, Abbott Laboratories (NYSE :ABT),Santen Pharmaceutical Co., Ltd. (OTC :SNPHY), Ursapharm, Rohto, Similasan Corporation, Johnson & Johnson, Ocusoft, Nicox, Sintong, Wuhan Yuanda NovaMedica LLC, AFT Pharmaceuticals, VISUfarma, Otsuka Pharmaceutical Co., Ltd., ENTOD Research Cell UK Ltd, OASIS Medical, Inc. and others.
What are the significant types of Artificial Tears Market?
What segments are covered in the Artificial Tears Market report?
The Global Artificial Tears Market is Segmented on the basic of Product, Application, and Geography.
How can I get a sample report/company profile for the Artificial Tears Market?
The sample report for the Artificial Tears Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
