Artificial Tears Market Forecast 2024-2033: Growth Rate, Drivers, And Trends|Pfizer Inc., Johnson & Johnson, AbbVie Inc., Novartis AG, Abbott Laboratories

The Artificial Tears Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Artificial Tears Global Market Report 2024, 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.

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.

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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

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 report table of contents includes:

1. Executive Summary
2. Artificial Tears Market Characteristics
3. Artificial Tears Market Trends And Strategies
4. Artificial Tears Market – Macro Economic Scenario
5. Global Artificial Tears Market Size and Growth

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32. Global Artificial Tears Market Competitive Benchmarking
33. Global Artificial Tears Market Competitive Dashboard
34. Key Mergers And Acquisitions In Artificial Tears Market
35. Artificial Tears Market Future Outlook and Potential Analysis
36. Appendix

 

Top Major Players :

• Alphabet Inc.
• Microsoft Corporation
• Alibaba Group Holding Limited
• Facebook Inc.
• Dell Technologies Inc.

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