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Global Artificial Tears Market growing at a CAGR of 5.2% from 2023 to 2030

Category : Pharmaceuticals And Healthcare | Published Date : May 2023

Key Market Overview

Consegic Business Intelligence analyzes that the artificial tears market is predicted to grow at a compound annual growth rate of 5.2% from 2023 to 2030 and is expected to reach USD 3,916.83 million in 2030 which was valued at USD 2,626.46 Million in 2022.

The report highlights the increasing adoption of artificial tears for ensuring the reduction of inflammation, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the artificial tears market

Global Artificial Tears Market By Overview

Global Artificial Tears Market

The Artificial Tears market is bifurcated into type, form, and application. Based on type the market is segmented into glycerin derived tears, cellulose derived tears, oil-based emulsion tears, polyethylene glycol-based tears, and others, in 2022, the glycerin derived tears segment dominate the overall artificial tears market. 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 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.

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Market Dynamics

Driver:

 

  • The increasing prevalence of dry eye syndrome is accelerating the demand for artificial tears, which, in turn, is fostering market growth.
  • Booming technological developments related to artificial tears are propelling the market growth.

 

Restraints:

  • Recall of artificial tears products is restraining the growth of the artificial tear market.

Market Segmentation:

Report Attributes Report Details
By Type Glycerin Derived Tears, Cellulose Derived Tears, Oil-based Emulsion Tears, Polyethylene Glycol-based Tears, and Others
By Form Eye Drop, Ointment, Spray, and Others
By Application Dry Eye Syndrome, Allergies and Infections, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Boston Scientific Corporation, Abbott, Medtronic, and Cardinal Health which have a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more durable, ensure superior functioning, and are cost-effective. Furthermore, the Artificial Tears market is expected to witness substantial growth in the coming years due to the growing investment in heart care hospitals in key regions such as North America, Asia Pacific, and others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

  • Allergen
  • Alcon
  • Johnson & Johnson
  • Nicox S.A.
  • OASIS Medical
  • OCuSOFT Inc.
  • Santen Pharmaceutical Co. Ltd.
  • Similasan Corporation
  • Sun Pharmaceutical Industries Ltd.
  • URSAPHARM Arzneimittel GmbH