Artificial Tears Market to Grow at a CAGR of 5.5% to reach US$ 3,961.63 million from 2019 to 2028

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)

Publication Month : May 2021

  • Report Code : TIPRE00004073
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 170
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The artificial tears 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 major factors driving to the growth of the market are rising dry eye incidence and surging older population. However, poor accessibility to eye care services in low-income countries restrains the market growth. Artificial tears are lubricant eye drops used for treating the irritation and dryness associated with the deficiency in tear production in dry eyes or keratoconjunctivitis sicca. These are also used for moistening contact lenses and during eye checkups and examinations. Aging makes people more susceptible to eye conditions, such as dry eye, which propels the demand for artificial tears. Thus, the rapidly surging aging population is primarily contributing in the growth of the artificial tears market. Also, the increasing number of eye surgeries and post eye surgery management is boosting the market growth.

Europe is recording an exponential growth in the number of COVID-19 confirmed cases. Spain, Germany, France, Italy, and the UK are the most affected countries in the region. Amid pandemic, people in European countries are spending more time indoors by keeping the central heating and staring at an electronic screen for long time. Therefore, the incidence of  dry eye syndrome in increasing in the pandemic. According to studies, one in every four persons in the UK (about 13 million adults) suffers from dry eye, a condition that causes red, itchy, and fatigued eyes. Eye strain, another eye issue that has become more widespread in line with an increase in time spent staring at screens, can exacerbate these symptoms.


Lucrative Regions for Artificial Tears Market

Lucrative Regions for Artificial Tears Market
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Market Insights

Rising Incidence of Dry Eye

The incidence of dry eye is rising among population, especially in developed nations. Dry eye is caused by multiple factors that result in discomfort, irritation, and visual disturbance. For instance, according to a study “National Health and Wellness Survey” conducted in the US in April 2020, 16.4 million people were diagnosed with dry eye. The data also stated that the prevalence has gone up by 2.7% among the people of age 18−34 years. Additionally, the prevalence was 18.6% among older people. Based on sex, the percentage of prevalence was higher in women; it accounted for 8.8% than men with 4.5%. The dry eye incidence is higher among the population in the European and Asia Pacific regions. The Middle East & Africa also has an increasing prevalence of dry eye due surging aging population and environmental conditions. According to an article published in 2019 by the Department of Research, King Khaled Eye Specialist Hospital, Riyadh, Saudi Arabia, the incidence of dry eye is high among women. The increasing incidence of dry eye is leading to the rise in direct cost of treatment. According to Ocular Surgery News, the annual direct cost for mild dry eye symptom treatment was US$ 678, for moderate dry eye symptom was US$ 771, and for the severe dry eye symptom was US$ 1,267. Artificial tears drop provide moisture and relief for dry eyes. Thus, the increasing prevalence of dry eye is expected to drive the artificial tears market during the forecast period.

Type-Based Insights

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. The market growth for this segment is attributed to the easy availability and ability of glycerin derived tears 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.

Artificial Tears Market, by Type – 2020 and 2028

Artificial Tears Market, by Type – 2020 and 2028
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Delivery Mode-Based Insights

Based on delivery mode, the artificial tears market is bifurcated into eye drops and ointments. The eye drops segment held a larger share of the market in 2020 and is estimated to register a higher CAGR in the market during the forecast period. The market growth for this segment is majorly attributed to the availability of wide range of products, and easy application.

Application-Based Insights

Based on application, the artificial tears market is bifurcated into dry eyes treatment and contact lenses moisture. The dry eyes treatment segment held a larger share of the market in 2020 and is estimated to register a higher CAGR in the market during the forecast period. The market growth for this segment is majorly attributed to the increasing use of electronic devices and rising product launches by market players.

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Artificial Tears Market: Strategic Insights

artificial-tears-market
Market Size Value inUS$ 2,612.91 Million in 2020
Market Size Value byUS$ 3,961.63 Million by 2028
Growth rateCAGR of 5.5% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Companies operating in the artificial tears market adopt the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

Artificial Tears Market – 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

Artificial Tears Market – by Delivery Mode

  • Eye Drops
  • Ointments

Artificial Tears Market – by Application

  • Dry Eyes Treatment
  • Contact Lenses Moisture

Artificial Tears Market– by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • 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
  • Aurolab
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Delivery Mode , and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are artificial tears?

Artificial tears are lubricant eye drops used for treating the irritation and dryness associated with the deficiency in tear production in dry eyes or keratoconjunctivitis sicca. These are also used for moistening contact lenses and during eye checkups and examinations. The rapidly growing aging population is primarily contributing in the growth of the artificial tears market. Aging makes people more susceptible to eye conditions such as dry eye, resulting in high demand for artificial tears. Also, increasing number of eye surgeries and post eye surgery management is further boosting the growth of the artificial tears market.

What are the driving factors for the artificial tears market across the globe?

The factors that are driving growth of the market are rising incidence of dry eye and growing older population. Also, industrial developments are accelerating the growth of the market.

Who are the major players in the artificial tears market?

The artificial tears market majorly consists of the players such as 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, Aurolab amongst others amongst others.

The List of Companies - Artificial Tears Market

  1. Johnson and Johnson Services, Inc.
  2. Alcon Inc.
  3. OASIS Medical
  4. AbbVie Inc.
  5. Bayer AG
  6. Prestige Consumer Healthcare Inc.
  7. Santen Pharmaceutical Co., Ltd.
  8. Bausch Health Companies Inc.
  9. Akorn, Incorporated
  10. Aurolab

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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