By Type :

The type segment is categorized into glycerin derived tears, cellulose derived tears, oil-based emulsion tears, polyethylene glycol-based tears, and others. In 2022, the glycerin derived tears segment accounted for the highest market share of 38.23% in the overall artificial tears market. Glycerin-derived tears have the superior properties of aiding epithelial cell growth and reducing the damaging effects of high osmolarity on the ocular surface of the eyes. These properties of glycerin-derived tears result in the efficient treatment of eye allergies. For instance, in January 2019, I-MED PHARMA, a leading eye drop manufacturer launched I-DROP, an artificial tear product range in the United Kingdom market. The product is a glycerin-derived tear. Grafton is the official supplier of the I-DROP in the United Kingdom. Thus, the expansion of the manufacturer of glycerin-derived tears in the international market to increase the product offering will generate adequate revenue for the companies. Thus, the utilization of advanced glycerin-derived tears will increase to increase the mechanical strength of the tear which will boost the market growth.

Furthermore, polyethylene glycol-based tears is expected to be the fastest-growing segment in the market over the forecast period. This is due to the increasing demand for artificial tears that protects the ocular surface microenvironment and ensure relief of inflammation.

By Form:

The form segment is categorized into eye drop, ointment, spray, and others. In 2022, the eye drop segment accounted for the highest market share in the artificial tears market. The eye drop is an eye lubricant that is often deployed for relieving dry eyes. Eye drops help to comfort the burning and irritation seen in dry eyes by keeping an adequate amount of lubrication of the eyes. The government initiatives for the availability of over-the-counter artificial tear eye drops without a doctor's prescription will boost the availability of artificial tear eye drop solutions. For illustration, in October 2022, Central Drugs Standard Control Organization announced a proposal for the availability of artificial tear eye drop solutions without the prescription of doctors in India. As a result, the increasing availability of artificial tear eye drop solutions will accelerate the adoption of the above solutions for protecting the inflammation of the eyes. This factor will boost the market growth during the projected forecast period.

However, ointment is expected to be the fastest-growing segment during the forecast period because of the increasing number of eye surgeries, allergies, and others. This, in turn, is fostering the demand for artificial tears to ensure efficient relief for eyes, and as a result, the market for artificial tears is registering growth

By Application:

The application segment is categorized into dry eye syndrome, allergies and infections, and others. In 2022, the dry eye syndrome segment accounted for the highest market share in the artificial tears market. The artificial tears protect the dry ocular tissue from damage by lid - friction, and increase the healing of epithelial tissues and others. Furthermore, artificial tears are optically clear, lubricating, and soothing to the eye. The above-mentioned properties of artificial tears make them a perfect fit for application in dry eye syndromes. For instance, according to a recent study named National Health and Wellness Survey, in April 2020, approximately 7.4 million people in Germany were diagnosed with dry eye. The data further stated that the prevalence of dry eye has gone up by 2.7% among people in the age group of 18 to 34 years. Furthermore, the cases were 18.6% among older people. Thus, the increasing prevalence of dry eye syndrome is propelling the demand for artificial tears to provide protection and comfort to dry eyes. This prime determinant is augmenting the market growth.

However, the allergies and infections segment is expected to be the fastest-growing segment in the artificial tears market during the forecast period. This is due to increasing eye conditions such as inflammations, allergies to certain medications, and others

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 36.95% and was valued at USD 970.48 million, and is expected to reach USD 1,453.53 million in 2030. In North America, the U.S. accounted for the highest market share of 68.75% during the base year of 2022. The increasing eye-related concerns associated with old age, medical conditions, eye surgeries, and others are some of the prominent factors accelerating the adoption of artificial tears in the North American region. The utilization of artificial tears ensures protection from inflammation in the eyes. Thus, the North American players dealing in artificial tears products are targeting the approval of the artificial tears products. For instance, in October 2022, Santen Canada Inc. announced the approval of Cationorm Plus, an artificial tears product to relieve the symptoms of dry eyes and ocular allergies. Thus, the increasing approval of the artificial tears product range in the North American region is proliferating market growth.

Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 6.2% during 2023-20230. This is attributed to the growing demand for preservative-free artificial tears. Therefore, the adoption of artificial tears is increasing in Asia Pacific for the treatment of allergies, dry eye syndrome, and others. This factor is proliferating the artificial tears market growth in Asia Pacific.