Overview:

The global artificial tears market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Artificial tears act like lubricant eye drops which are used in the dryness and eye irritation. Also, it plays key role in case of deficiency in tear production in keratoconjunctivitis sicca or dry eyes.

Also, artificial tears are used with contact lenses for moistening purpose. Many eye specialists also use artificial tears during eye examinations and checkups. The artificial tears are manufacturing by using water, polymers, and salts. The artificial tear products are easily available in medical pharmacies and can be purchased according to eye specialist suggestion.

Market Dynamics:

Increasing prevalence of dry eye syndrome (DES) owing to various factors such as increasing engagement to digital displays, climatic changes, vitamin and protein deficiencies, and growing pollution level is a key factor driving growth of the global artificial tears market.

In addition, growing geriatric population, unhealthy diet habits, and rising number of eye surgeries across the globe is resulting in high demand for artificial tears for post-surgery management. This is another key factor fueling growth of the target market.

Moreover, growing use of contact lenses, rising digital or online work, and development of innovation products are among the other factors supporting growth of the target market. However, lack of awareness about the products and minor eye disease among individuals in the emerging countries is affecting growth of the target market to a certain extent.

Key Trends:

Rising focus on strategic mergers and acquisition among key players for market expansion is a key trend witnessed in the global artificial tears market. For instance, in February 2017, Johnson and Johnson acquired three business segment of Abbot Medical Optics, namely, consumer eye health, contract surgery, and laser refractive surgery.

Regional Analysis:

For detailed understanding of market dynamics, the global Artificial Tears market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global artificial tears market in terms of revenue in the year 2019. This is attributed to rising awareness of product and availability of advanced products across various countries in the region. Also, Europe is expected to account for significant revenue share in the global market, owing to wide presence of key manufacturers and product availability across various countries in the region.

However, Asia Pacific is expected to witness highest growth in the target market over the forecast period. This is owing to increasing prevalence of dry eye syndrome (DES) across the region and growing consumer base in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Artificial Tears Market, By Type:

• Cellulose Derived
• Glycerine Derived
• Oil Based Emulsion Tears

Global Artificial Tears Market, By Delivery Mode:

• Eye Drops
• Ointments

Global Artificial Tears Market, By Application:

• Dry Eyes Treatment
• Contact Lenses Moisture

Key Players Covered:

Key players operating in the global market include, 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.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Artificial Tears Market by type, delivery mode, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global artificial tears market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.