July 1, 2019

Artificial Tears Market to Flourish with an Impressive CAGR by 2024

Global Artificial Tears Market: Overview

Artificial tears are referred to as lubricants eye drops that are used for treating the irritation and dryness associated with the deficiency in tear production in dry eyes or keratoconjunctivitis sicca. These artificial tears are also used for moistening contact lenses and during eye checkups and examinations. Artificial tears are accompanied by other treatments to treat severe forms of moderate to dry eyes. These tears are designed for the purpose to imitate real tears and treating various eye problems. These eye drops are basically used for the purpose of treating problems caused due to dryness and irritation. These artificial tears are made by employing salts, water, and polymers. However, these tears do not inherit the proteins which are present in real tears. Artificial tears can be purchased in any pharmacy or medical unit. The demand for tear gas varies from country to country based completely on the level of population, disease prone area, geriatric population, and female population.

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In the near past, artificial tears have evolved as a potential solution to meet the need of patients who suffer from extremely dry eyes and need to apply artificial in every three hours. For this kind of patients, companies have introduced artificial tear products with non-irritating preservatives or no preservatives at all. Although artificial tears are easily available across the globe, its excessive use also has certain side effects such as vision changes, continued redness, irritation, and eye pain. With the ongoing advances in technology, these issues related to the side-effects have been tried to address with the development of preservative free artificial tear gas.

The market intelligence report is a descriptive overview of the growth trajectory in terms of the past, present, and future progress and prospects of the global artificial tears market. It further presents an evaluation of the aspects that are anticipated to impact the growth of the market and the chief trends. The report also offers a distinct understanding of the competitive scenario of the market by utilizing the value chain and Porter’s five forces analysis. A broad description of the various products circulated in the global and regional markets has also been provided in the study. The publication also highlights the research and development projects, mergers and acquisitions, details on collaborations and licensing. The publication also offers information on the marketing strategies, products, and shares of the key players operating in the market.

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Global Artificial Tears Market: Drivers and Restraints

The primary driver of the global artificial tears market is the growing number of cases of dry eye syndrome (DES). This syndrome is basically triggered by the forces such as prolonged exposure to digital displays, chronic conjunctivitis, poor eyelid, scars of eye injury, regular air travels, poor diet, malnutrition, the rise in the level of pollution, dry weather spells, and severe climatic changes. Other factor that is expected to drive the growth of the global artificial tears market is the economic status of consumers in developing regions. As the per capita in several developing countries is low as compared to that of developed countries, the consumption of meagerly priced artificial tear products is expected to rise among them. The growing prevalence of preservative free artificial tears, technological advances, the rising requirement for advanced care for post-surgery dry eyes, the mounting number of mobile and smartphone addicts, and increasing number of people wearing contact lens.

Global Artificial Tears Market: Regional Outlook

The global artificial tears market has been segmented into Europe, Asia Pacific, North America, and the Rest of the World. As a result of the low income status of consumers in Asia Pacific and Latin America and the availability of a wide range and varieties of artificial tear products, the markets in these regions are likely to exhibit potential growth over the coming years. As compared to North America and Europe, Asia Pacific is poised to grow at a higher rate. This growth can be attributed to the rising number of aged population and the growing incidences of DES patients in these regions.

Companies Operating in the Market

The leading companies operating in the market are Allegan Inc., Alcon Inc., Santen Pharmaceuticals Novartis International AG, Bausch & Lomb, McNEIL-PPC, Inc., Advanced Vision Research, Inc., and Abbott Medical Optics Inc.

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