Artificial Tears Market is estimated to be 2510.3 Million by 2029 with a CAGR of 4.2% during the forecasted period.

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Published Date: June 2023

The Artificial Tears Market accounted for 1731.2 Million in 2020 and is estimated to be US$ 2510.3 Million by 2029 and is anticipated to register a CAGR of 4.2%.

The report "Global Artificial Tears Market, By Type (Cellulose Derived, Glycerine Derived, and Oil Based Emulsion Tears), By Delivery Mode (Eye Drops, and Ointments), By Application (Dry Eyes Treatment, and Contact Lenses Moisture), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In February 2017, Johnson and Johnson acquired three business segment of Abbot Medical Optics, namely, consumer eye health, contract surgery, and laser refractive surgery. The acquisitions were done to expand its global footprint as well as expand the consumer base across the globe.
In June 2018, Novartis, one of the market leaders in vision care announced a spinoff of Alcon business to a standalone company, Alcon Inc.

Analyst View:

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.

Increasing use of contact lenses, digital workloads among individuals and development of innovation products are some factors expected to create potential revenue opportunities for players operating in the global market over the forecast period. In addition, development of preservative free artificial tear gas, owing to resolve its side-effects are another factor expected to create lucrative opportunity for the target market over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Artificial Tears Market”, By Type (Cellulose Derived, Glycerine Derived, and Oil Based Emulsion Tears), By Delivery Mode (Eye Drops, and Ointments), By Application (Dry Eyes Treatment, and Contact Lenses Moisture), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global artificial tears market accounted for 1731.2 Million in 2020 and is estimated to be US$ 2510.3 Million by 2029 and is anticipated to register a CAGR of 4.2%.. The market report has been segmented on the basis of type, delivery mode, application and region.

Depending upon type, the glycerine derived segment is projected to grow at highest CAGR over the forecast period owing to its capability of keeping eyes moist for long time.
Depending delivery mode, the eye drops segment is projected to grow at highest CAGR over the forecast period owing to its commercial availability in the form of eye drops.
Depending application, the contact lenses moisture segment is projected to grow at highest CAGR over the forecast period due to its increasing adoption across the globe.
By region, the market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to rising awareness of product and availability of advanced products across various countries in the region.

Competitive Landscape:

The prominent player operating in the global artificial tears market includes Abbott Medical Optics Inc., Akorn, Inc., Alcon Laboratories, Inc., Allergan Plc, Aura Labs Ltd., Bausch & Lomb Incorporation, Bayer Ag, Carl Zeiss Ag, Essilor International S.A, and Hoya Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period