Artificial Tears Market Statistics, Overview And Forecast 2024

The artificial tears global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Artificial Tears Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The artificial tears market size has grown strongly in recent years. It will grow from $3.32 billion in 2023 to $3.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to aging population, prolonged screen time, healthcare expenditure, shift from prescription to OTC, regulatory changes.

The artificial tears market size is expected to see strong growth in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing prevalence of dry eye syndrome, growth in contact lens usage, global urbanization, increasing pollution, e-commerce growth. Major trends in the forecast period include technological advancements, AI and tech integration, partnerships with healthcare providers, integration of natural ingredients, advancements in product formulation, advanced drug delivery systems, sustainable and eco-friendly products.

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Scope Of Artificial Tears Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Artificial Tears Market Overview

Market Drivers –

The rising prevalence of dry eye disease is expected to propel the growth of the artificial tear market going forward. Dry eye disease is a condition where the eyes do not produce enough tears, or the tears are of poor quality, leading to irritation and discomfort. Artificial tears supplement natural tear production, providing lubrication and relief for dry eyes. For instance, in March 2022, according to a survey of 5,000 respondents by Macquarie University, an Australia-based public research university, among individuals aged 50 and above, 13% (15 out of 120) showed clinical signs of dry eye disease (DED), categorized as 8.2% mild, 2.5% moderate, and 1.6% severe. Additionally, in March 2022, according to Eyes On Eyecare, a US-based digital ophthalmology news provider, the use of prescription and in-office treatments for dry eye disease increased from 5.8% in 2021 to 7.56% in 2022, with prescription treatments like topical steroids rising significantly from 0.9% to 9.1% during the same period. Therefore, the rising prevalence of dry eye disease is driving the growth of the artificial tear market.

Market Trends –

Major companies operating in the artificial tears market are developing products incorporating technologies such as HydroBoost and PureFlow bottle technology to increase their profitability in the market. HydroBoost and PureFlow bottle technology in artificial tears refers to specialized formulations and dispensing mechanisms designed to enhance hydration and sterility in eye lubrication products. For instance, in April 2021, Alcon, a Switzerland-based pharma company, released Systane Hydration Multi-Dose Preservative-Free Lubricant Eye Drops. It features HydroBoost Technology, which offers enhanced hydration and comfort for sensitive, dry eyes and is preservative-free to reduce irritation. The unique PureFlow bottle ensures a sterile, multi-dose formula, making it convenient for frequent use. These drops provide a comprehensive solution for dry eye management and are ideal for aqueous dry eye sufferers, frequent users, and post-surgical patients.

The artificial tears market covered in this report is segmented –

1) By Type: Glycerin Tears, Cellulose Tears, Oil-Based Emulsion Tears, Polyethylene Glycol-based Tears, Sodium Hyaluronate Based Artificial Tears, Propylene Glycol-based Tears

2) By Dosage: Suspensions, Solution, Ointment, Emulsion, Gel, Spray

3) By Indication: Dry Eye Syndrome, Allergies, Infections, UV And Blue Light Protection, Contact Lens Moisture Retention, Other Indications

4) By Distribution: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, Ophthalmic Stores

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Regional Insights –

North America was the largest region in the artificial tears market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial tears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Pfizer Inc., Johnson & Johnson, AbbVie Inc., Novartis AG, Abbott Laboratories, Otsuka Pharmaceutical Co. Ltd., Alcon, Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Dr Reddy’s Laboratories, Santen Pharmaceutical Co. Ltd., Lupin Limited, Rohto Pharmaceutical Co. Ltd., Prestige Consumer Healthcare Inc., Thea Pharma Inc., OPTIMA pharma GmbH, Sentiss Pharma Pvt. Ltd., VISUfarma B.V., OASIS Medical Inc., Hilco Vision, Similasan Corporation, Eyevance Pharmaceuticals LLC, Nicox S.A., I-MED Pharma Inc., Velocity Pharma LLC

Table of Contents

1. Executive Summary

2. Artificial Tears Market Report Structure

3. Artificial Tears Market Trends And Strategies

4. Artificial Tears Market – Macro Economic Scenario

5. Artificial Tears Market Size And Growth

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27. Artificial Tears Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

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