Dublin, April 28, 2022 (GLOBE NEWSWIRE) -- The "OTC Artificial Tears Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global OTC artificial tears market reached a value of US$ 4.62 Billion in 2021. Looking forward, the market is set to reach US$ 6.41 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor
Over the Counter (OTC) artificial tears are eye drops that are used for lubricating eyes and providing relief from pain, discomfort, burning, redness, photophobia and irritation in the eyes. They are manufactured using dextran, glycerin, propylene glycol, hydroxypropyl methylcellulose (HPMC) and carboxymethylcellulose.
Artificial tears are widely used for the treatment of dry eyes, which is a medical condition when sufficient moisture or lubrication is not generated on the conjunctiva, cornea or entire surface of the eye. OTC artificial tears are biocompatible and aid in stabilizing the tear film, promoting healing and minimizing tear evaporation. In addition to this, OTC artificial tears are also available in ointment, spray, emulsion, solution and gel forms that are highly convenient use
OTC Artificial Tears Market Trends:
The rising geriatric population that is prone to chronic eye-related disorders is one of the key factors driving the growth of the market. Due to the increasing prevalence of dry eye syndrome (DES), diabetes and nutritional deficiencies, there is a rising demand for OTC artificial tears to provide immediate relief from discomfort in the eyes.
Additionally, the increasing utilization of electronics, such as smartphones, televisions (TVs) and laptops, leading to excessive screen time and eye fatigue, is positively impacting the adoption of OTC artificial tears. Various product innovations, such as the development of variants fortified with blink-activated coatings, are providing a thrust to the market growth.
These coatings provide ocular hydration to patients suffering from evaporative dry eye syndrome. In line with this, the widespread product adoption with contact lenses to facilitate the flow of oxygen to the cornea and prevent dryness on the surface of the eyes is favoring the market growth.
Other factors, including rising levels of pollution, especially in the urban regions, along with the increasing health consciousness among the masses, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global OTC artificial tears market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global OTC artificial tears market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the container type?
- What is the breakup of the market based on the formulation?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global OTC artificial tears market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- AbbVie Inc.
- Akorn Inc.
- Alcon
- Bausch Health Companies Inc.
- Johnson & Johnson
- Nicox S.A.
- OASIS Medical
- OCuSOFT Inc.
- Santen Pharmaceutical Co. Ltd.
- Similasan Corporation
- Sun Pharmaceutical Industries Ltd.
- URSAPHARM Arzneimittel GmbH.
Key Market Segmentation:
Breakup by Product:
- Solution
- Ointment
- Emulsion
- Gel
- Spray Solution
- Suspensions
Breakup by Container Type:
- Plastic Single Dose Container
- Plastic Multi-Dose Container
- Others
Breakup by Formulation:
- Preservative Based
- Non-Preservative Based
Breakup by Application:
- Dry Eye Syndrome
- Allergies
- Infections
- UV and Blue Light Protection
- Contact Lens Moisture Retention
- Others
Breakup by Distribution Channel:
- Hospital Pharmacies
- Drug Store and Retail Pharmacies
- Online Pharmacies
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/lcdvnq
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