Pune, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global artificial tears market is expected to clock US$ 5.14 billion by 2030 and to grow at a CAGR of 5.4% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Artificial Tears Market – Global Outlook & Forecast 2022-2030”
Artificial tears are primarily used to lubricate dry eyes and keep the outside eyes moist. Artificial tears increase tear viscosity, improve tear adherence to the ocular surface, reduce tear evaporation, and decrease tear clearance. It can aid in the reduction of redness and swelling, while also protecting the eye against hyperosmolarity.
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Market Drivers
Some of the primary driving factors in the global artificial tears market include the increasing incidence of dry eye syndrome, infections, and allergies caused by an unhealthy diet and poor lifestyle, and environmental factors such as pollution and occupational hazards. Additionally, increased ophthalmic operations and ocular illness aid in market expansion. Furthermore, growing R&D efforts leading to the continuous development of innovative products as well as expanding population awareness, have a significant influence on market development globally.
The global artificial tears market has been analyzed from five perspectives – by type, delivery, application, distribution channel, and region.
Excerpts from ‘By Type Segmentation’
Based on types, the global artificial tears market has been segmented into:
- Cellulose
- Polyethylene Glycols (PEG)
- Polypropylene Glycols (PPG)
- Glycerin Derived
- Others (Oil-Based Emulsion, Sodium Hyaluronate Based, Etc.)
Polyethylene glycols (PEG) and polypropylene glycols (PPG) lead the market with the highest revenue share due to their strong demand and widespread use. They form a lubricant and protective layer across a mucous membrane in the eye, relieving inflammation or irritation. PEG helps to retain the ocular surface environment, while PPG increases the viscosity of the eye drop to improve the retention of eye moisturization. Additionally, glycerin is a prominent stakeholder in this market, attributed to rising population needs and improvements in results. Glycerin also stimulates epithelial cell growth and mitigates the negative effects of high osmolarity on the ocular surface.
Excerpts from ‘By Region Segmentation’
The global artificial tears market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America holds the largest revenue share in the market. It is also predicted to retain its lead throughout the projection period. A variety of factors, including increased occurrences of eye infections, allergies, dry eye syndrome, and growth in ophthalmic procedures drive the North American market. Furthermore, the massive geriatric population base and very unhealthy lifestyle contribute significantly to this region's market growth. The market in North America is further expanding due to significant growth in R&D activities, technological advancements, availability of a wide range of products, and high healthcare spending. The market is also predicted to grow as a result of the continued approval of novel eye products and the existence of a large base of major market players. Europe is the second-largest market participant because of its strong healthcare system and high healthcare expenditure.
While Asia Pacific is an emerging region in this market due to the growing geriatric population and increased usage of artificial tears due to rising dry eye syndromes and other acute eye-related issues.
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Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global artificial tears market are:
- Alcon Inc.
- Allergan (AbbVie Inc.)
- Bayer AG
- Novartis AG
- Sun Pharmaceutical Industries Ltd.
- Bausch + Lomb
- Santen Pharmaceutical Co. Ltd.
- Otsuka Pharmaceutical Co. Ltd.
- Akorn Operating Company LLC
- Johnson & Johnson Services Inc.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL ARTIFICIAL TEARS MARKET- ANALYSIS & FORECAST, BY TYPE
- Cellulose
- Polyethylene Glycols (PEG)
- Polypropylene Glycols (PPG)
- Glycerin Derived
- Others (Oil-Based Emulsion, Sodium Hyaluronate Based, etc.)
- GLOBAL ARTIFICIAL TEARS MARKET- ANALYSIS & FORECAST, BY DELIVERY
- Ointment
- Eye Drop
- GLOBAL ARTIFICIAL TEARS MARKET- ANALYSIS & FORECAST, BY APPLICATION
- Dry Eye Syndrome
- Infection or Allergies
- Ophthalmic Procedures
- Others
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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About Us:
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