Report Overview

The global artificial tears market was pegged at US$ 3.2 billion in 2021 and is expected to witness a CAGR of 5.4% during the forecast period from 2022 to 2030.

Market Fundamentals                                                                                          

Artificial tears are lubricating agents that enhance tear retention by increasing tear viscosity, improving tear adhesion to the ocular surface, lowering tear evaporation, and decreasing tear clearance. Inflammation is recognized to play a role in the development of dry eyes, and there are artificial tear components that reduce inflammation by interrupting the mechanisms that promote the recruitment of cytokines. It can help decrease redness and swelling, while protecting the eye from hyperosmolarity. 

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Market Dynamics

The global artificial tears market is anticipated to witness steady growth during the forecast period. The growing incidence of dry eye syndrome, infections, and allergies due to an unhealthy diet are the major driving factors. Additionally, growing ophthalmic procedures also help the market development. Moreover, increasing R&D activities leading to the continuous launch of novel eye products such as eye drops or eye gel/ointment and growing awareness among the population impact greatly, thus, fueling the market expansion globally. However, the side effects from the continuous utilization of artificial tears can be a major challenge to market growth.

Market Ecosystem

The global artificial tears market has been analyzed from five perspectives: type, delivery, application, distribution channel, and region. 

Artificial Tears Market by Type

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The global artificial tears market has been segmented based on type into cellulose, polyethylene glycols (PEG), polypropylene glycols (PPG), glycerin derived, and others (oil-based emulsion, sodium hyaluronate based, etc.). Polyethylene glycols (PEG) and polypropylene glycols (PPG) dominate the market with the largest revenue share owing to high demand and being high utilization in different formulations. Furthermore, PEG and PPG-based products develop a lubricant and protective layer over a mucous membrane thus, relieve inflammation or irritation. Additionally, PEG helps to preserve the ocular surface microenvironment and PPG enhances the viscosity of the eye drops for better retention of eye moisturization. Glycerin derived artificial tears products are also in high demand globally. This growth can be ascribed to growing demands among the population, and enhancement in the outcomes. Glycerin also promotes epithelial cell development and mitigates the harmful effects of excessive osmolarity on the ocular surface.

Artificial Tears Market by Delivery

Based on the delivery, the global artificial tears market has been bifurcated into ointment and eye drop. The eye drop segment leads the market with the largest revenue share. High utilization, large demands for eye drops among people, and the benefit of convenience in the use encourage the growth of this segment. The eye drops help replace the natural moisture of the eye and promote surface healing. It further helps to prevent further damage by keeping the eye lubricated. Moreover, the large availability and continuous launch of new products further boost the growth of this segment. 

Artificial Tears Market by Application

Based on the application, the global artificial tears market has been segmented into dry eye syndrome, infection or allergies, ophthalmic procedures, and others. Dry eye syndrome holds the largest share in the market ascribed to the growing incidences of dry eye syndrome among the population and especially in youngsters due to unhealthy lifestyles, long-time use of contact lenses, and high screen time. Prolonged occurrence of dry eye syndrome can further cause infection, severe eye dryness, low tear production, and so on, thus, enhancing the demand for artificial tears. 

Artificial Tears Market by Distribution Channel

According to distribution channels, the global artificial tears market is classified into hospital pharmacies, online pharmacies, and retail pharmacies. The hospital pharmacies segment dominates the global artificial tears market due to high patient footfall and convenient access after ophthalmic procedures and consultations. The majority of artificial tears products are available over the counter, and the prevailing trend of self-medication for acute dry eye redressal will help in augmenting the share of the retail pharmacies segment.

Artificial Tears Market by Region

The global artificial tears market has been segmented based on regions namely, North America, Europe, Asia Pacific, and the Rest of the World. North America leads the global artificial tears market with the largest revenue share. It is also expected to maintain its dominance in the forecast period. This market's expansion may be ascribed to several factors, including the high incidences of eye infections, allergies, dry eye syndrome, and growth in ophthalmic surgeries. Additionally, the large base for the geriatric population and the high influence of lifestyle-associated risk factors also contribute considerably to the position of North America segment. The North American market is also growing due to rapid expansion in R&D activities, technological progress, high awareness in the general population, and high healthcare spending. The market is also expected to rise due to the continuous approval of innovative eye products and the presence of a large base of market players. Due to its developed healthcare infrastructure and high healthcare spending, Europe is the second-largest market participant. A large geriatric population base, the rapidly evolving healthcare sector, and the growing adoption of innovative technologies are driving the growth of the Asia Pacific market. 

Competitive Landscape

The 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.

Strategic Developments

• In April 2021, Alcon announced the launch of the advanced eye product Systane Hydration Multi-Dose Preservative-Free (MDPF) lubricant eye drops. With its proprietary HydroBoost Technology, this novel preservative-free eye drop moisturizes sensitive dry eyes. This enhanced product helps to strengthen Alcon’s eye product portfolio.
• In July 2021, Bausch + Lomb launched Biotrue Hydration Boost lubricant eye drops and Biotrue Micellar eyelid cleansing wipes. The newly developed product is preservative-free and exclusively formulated with naturally inspired ingredients to relieve symptoms with irritated, dry eyes.

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