Overview and Scope
Artificial tears are eye drops, gels, or ointments that are used to relieve dryness and irritation of the ocular surface. It is commonly used to treat dry eye syndrome, a condition caused by reduced tear production or increased tear evaporation.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the artificial tears market report are 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
The artificial tears market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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