Report : Artificial Tears Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cellulose Derived Tears, Glycerin Derived Tears, Oil-Based Emulsion Tears, Polythylene Glycol Based Tears, Propylene Glycol Based Tears, and Sodium Hyaluronate Based Artificial Tears), Delivery Mode (Eye Drops and Ointments), and Application (Dry Eyes Treatment and Contact Lenses Moisture)
Glycerin Derived Tears Segment to Register Highest CAGR in Artificial Tears Market During 2021–2028
According to our latest study on “Artificial Tears Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Delivery Mode, and Application,” the market was valued at US$ 2,612.91 million in 2020 and is projected to reach US$ 3,961.63 million by 2028; it is expected to grow at a CAGR of 5.5% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Based on type, the artificial tears market is segmented into cellulose derived tears, glycerin derived tears, oil-based emulsion tears, polythylene glycol-based tears, propylene glycol-based tears, and sodium hyaluronate based artificial tears. The glycerin derived tears segment held the largest share of the market in 2020 owing to their easy availability and ability to keep eyes moist for long time. Glycerin is a humectant, as well as a demulcent and lubricant. It also promotes the growth of epithelial cell and reduces the harmful effects of high osmolarity on the ocular surface. Povidone is a lipid that binds to the tear film's existing oil layer, thickening it and reducing evaporation. Further, the glycerin derived tears segment is expected to register the highest CAGR during 2021–2028.
The growth of the artificial tears market is primarily attributed to the key driving factors such as rising dry eye incidence and surging older population. However, poor accessibility to eye care services in low-income countries hinders the market growth. Johnson and Johnson Services, Inc.; Alcon Inc.; OASIS Medical; AbbVie Inc.; Bayer AG; Prestige Consumer Healthcare Inc.; Santen Pharmaceutical Co., Ltd.; Bausch Health Companies Inc.; Akorn, Incorporated; and Aurolab are among the leading companies operating in the market.
By Delivery Mode