South and Central America Artificial Tears Market is expected to reach US$ 130.3 Mn by 2028

Glycerin Derived Tears Segment has the Largest Share of Type in the South and Central America Artificial Tears Market during 2021–2028

According to The Insight Partners market research study on “South and Central America Artificial Tears Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Delivery Mode, and Application,” is expected to reach US$ 130.3 million by 2028 from US$ 94.0 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the South and Central America Artificial tears market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising incidence of dry eye and the growing older population are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the poor accessibility to eye care services in countries.

The COVID-19 pandemic presented numerous impacts on health systems, social life, and human behavior worldwide. It remains a challenge for local communities. In Brazil, a decrease in the number of treated patients was observed in the Artificial Tears department despite efforts to keep the treatment routine as normal as possible. Nevertheless, a higher decrease in the total number of sessions was detected, indicating a smaller number of fractions/patients overall. According to International Labour Organization, one such survey for Brazil (XP Investments) estimates that 35% of workers are working from home. According to International Labour Organization, With the COVID-19 pandemic, the percentage of workers teleworking has risen tremendously, as companies have taken steps to facilitate the practice in an effort to keep their operations ongoing. A March 25th survey of 250 large firms in Argentina found, for example, that 93% had adopted teleworking as a policy in response to the COVID-19 pandemic. This triggers incidence of dry eye syndrome (DES). These factors had a potential impact on the South and Central America artificial tears market.

The market for Artificial tears market is segmented into type, delivery mode, and application. Based on type, the artificial tears market is segmented into glycerin derived tears, cellulose derived tears, oil-based emulsion tears, polythylene glycol-based tears, sodium hyaluronate based artificial tears, and propylene glycol-based tears. In 2020, glycerin derived tears segment accounted for the largest share of the market owing to their easy availability and ability to keep eyes moist for long. Glycerin is a humectant, as well as a demulcent and lubricant. Glycerin also has the benefit of promoting epithelial cell growth and reducing 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.

Johnson and Johnson Services, Inc., Alcon Inc., OASIS Medical, AbbVie Inc., Bayer AG, Prestige Consumer Healthcare Inc., Santen Pharmaceutical Co., Ltd., and Bausch Health Companies Inc. are among the leading companies in the South and Central America Artificial tears market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in February 2021, Bausch + Lomb launched Alaway® Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops, the first and only over the counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration.

The report segments the South and Central America Artificial Tears market as follows:

By Type

• Glycerin Derived Tears
• Cellulose Derived Tears
• Oil-based Emulsion Tears
• Polythylene Glycol Based Tears
• Sodium Hyaluronate Based Artificial Tears
• Propylene Glycol Based Tears

By Delivery Mode

• Eye Drops
• Ointments

By Application

• Dry Eyes Treatment
• Contact Lenses Moisture

By Country

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America