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Artificial Tears Market
Artificial tears market is set to expand steadily, driven by rising digital eye strain, an aging population and continuous innovations in eye drop formulations.
AUSTIN, TX, UNITED STATES, November 12, 2024 /EINPresswire / -- The Artificial Tears Market size was valued at USD 3.28 billion in 2023 and is projected to reach USD 5.51 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.96% over the forecast period from 2024 to 2032.
Market Overview
The global demand for artificial tears is witnessing significant growth due to an increase in dry eye syndrome cases, digital eye strain, and environmental allergies. With rising screen time associated with prolonged digital device usage, artificial tears have become essential in relieving dryness and eye irritation, which affects a wide range of consumers. Awareness about eye care and the availability of artificial tears in various formulations, including preservative-free options, have boosted demand as individuals seek accessible over-the-counter solutions. Additionally, the market is supported by an efficient supply chain, enabling consistent product availability across regions.
Market expansion is further driven by the growing geriatric population, which is more prone to age-related eye conditions, and an increasing prevalence of ocular allergies. Product innovations in artificial tears, such as advancements in packaging for convenience and enhanced formulations for prolonged relief, are shaping consumer preferences. These factors, combined with the influence of environmental and lifestyle changes, are likely to sustain demand for artificial tears over the coming years.
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Key Players:
➢Allergan plc
➢Bausch & Lomb incorporated
➢Santen Inc.
➢Alcon Plc
➢Johnson & Johnson vision care
➢ROHTO Pharmaceutical CO., LTD
➢Nicox
➢Similasan Corporation
➢Ocusoft
➢URSAPHARM Arzneimittel GmbH
Segment Analysis
By Type:
➢Polypropylene Glycols
➢Cellulose
➢Polyethylene Glycols
➢Others
Polyethylene glycols dominated the artificial tears market in 2023, accounting for 37.0% of the market share. Known for their high lubricity and efficacy in providing long-lasting hydration, polyethylene glycols are widely preferred for managing dry eye symptoms. Their use in various formulations has enhanced comfort for patients, driving market share.
Expected to grow at a significant pace over the forecast period, polypropylene glycols are gaining traction due to their compatibility with sensitive eyes and their ability to stabilize artificial tear solutions. These qualities make them a preferred choice, especially for patients with recurrent eye dryness or irritation.
By Delivery:
➢Ointments
➢Eye Drops
Eye drops held the majority share at 65.0% in 2023, as they offer immediate relief and convenience for users. This form of delivery allows for easy application and can be used as often as needed throughout the day, making it the dominant choice among patients and healthcare providers.
Ointments are projected to grow rapidly due to their efficacy in providing longer-lasting relief, especially overnight. Patients with severe dry eye conditions often opt for ointments to maintain eye moisture during sleep, contributing to the segment's expected growth.
By Application:
➢Allergies & Infections
➢Dry Eye Syndrome
➢Others
Dry eye syndrome accounted for over 55.0% of the market share in 2023. The high incidence of dry eye syndrome, particularly among the aging population and individuals with extensive screen exposure, has made this segment the leading application for artificial tears.
The allergies and infections segment is expected to exhibit rapid growth as awareness about using artificial tears as an adjunct therapy for allergy relief increases. These drops help in flushing allergens from the eyes and alleviating irritation, contributing to their rising adoption.
By Distribution Channel:
➢Hospital Pharmacies
➢Online Pharmacies
➢Drug Stores & Retail Pharmacies
Drug stores and retail pharmacies dominated the distribution segment with a 40.0% share, as they are easily accessible and provide consumers with immediate access to artificial tear products without a prescription.
The online pharmacy segment is set to grow significantly due to the rising trend of e-commerce. The convenience of doorstep delivery and the availability of various product options and price comparisons online are expected to boost this channel's growth.
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Regional Analysis
North America led the artificial tears market with a 38% share in 2023, primarily due to the high prevalence of dry eye syndrome and the growing aging population. The region has a strong presence of prominent eye care companies, such as Bausch + Lomb and Alcon, that have invested heavily in developing advanced artificial tear solutions. Additionally, increasing awareness of eye health and high disposable incomes have made artificial tears more accessible in the U.S. and Canada, reinforcing North America's market dominance.
The Asia Pacific region is expected to be the fastest-growing market for artificial tears due to increasing urbanization, growing awareness of eye care, and rising healthcare investments. Countries such as China, Japan, and India are witnessing a surge in digital screen use, leading to a higher prevalence of dry eye syndrome. Local manufacturers and international companies are expanding their presence in this region, introducing products specifically tailored to address local demand for affordable and effective eye care solutions.
Recent Developments in the Artificial Tears Market
➢July 2022- Bausch + Lomb introduced the Biotrue Micellar Eyelid Cleansing Wipes and Biotrue Hydration Boost Lubricant Eye Drops. Both products use naturally inspired ingredients free from preservatives to relieve dry eye symptoms and irritation.
➢April 2022- Alcon launched the Systane Hydration Multi-Dose Preservative-Free (MDPF) Lubricant Eye Drops. The HydroBoost Technology in this product provides enhanced moisture for patients with sensitive, dry eyes.
The artificial tears market is poised for significant growth, driven by rising eye care needs, expanding product innovations, and growing awareness of eye health across global regions.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.