The artificial tears market is estimated to observe positive growth during the forecast period of 2021-2031. The growing demand for lubricating eye products in ophthalmic treatment may assure good growth prospects for the artificial tears market. Furthermore, the rise in dry eye syndrome among a major chunk of the population may invite profitable growth avenues for the artificial tears market.
The rising awareness about dry eye syndrome and various initiatives by government bodies may generate exponential growth opportunities for the artificial tears market. The growing awareness about ocular diseases and measures to treat the diseases effectively may have a profound impact on the growth trajectory of the artificial tears market. Furthermore, the rising demand for contact lenses and the innovations in the product range, and various benefits associated with the use of these novel products stage the growth of the global artificial tears market.
The artificial tears market can be segmented into eye drops and ointments based on delivery. The eye drops segment is expected to show substantial growth due to the availability of a wide range of products in form of eye drops. Based on application, the market can be segmented into allergies, infections, dry eye syndrome, and others. The allergies and infections segment is likely to create multiple growth opportunities for the artificial tears market. On the basis of distribution, the artificial tears market can be segmented into drug stores, retail pharmacies, hospital pharmacies, and online pharmacies.
The study by the team of analysts at Transparency Market Solutions provides an in-depth analysis of the artificial tears market along with the current trends and future estimations. An indepth analysis of the aspects that drive and restrict the market growth is provided in the report. A comprehensive analysis of the market is provided to enable the CXO’s to capitalize on the existing market opportunities.
Artificial Tears Market: Competitive Scenario
The artificial tears market is monopolistic in nature. Numerous players are indulging in severe competition. The players are launching novel products with different formulations such as preservative-free eye drops. These formulations assure considerable growth for the artificial tears market. In addition, the players are engaged in research and development activities. These activities help in increasing the revenues of the players and ultimately may prove to be a game-changer.
Some well-established players in the artificial tears market are Johnson and Johnson, Novartis AG, Bayer AG, Sun Pharmaceuticals Ltd., Eyevance Pharmaceuticals, and Alcon
The most prominent benefit of artificial tears is that it helps tear film work more effectively to protect the surface of the eyes. Furthermore, the rising preference for preservative-free eye drops has fewer additives and is harmless for the eyes. Hence, all these factors will invite extensive growth opportunities for the artificial tears market.
Lubricating eye drops are safe and preferred by eye specialists and patients and may add expansive growth opportunities to the artificial tears market. The rising incidences of dry eyes syndrome and cataracts among the geriatric population bode well for the growth of the global market. Laser-assisted eye treatments and surgeries such as LASIK surgeries are gaining traction due to their reliable procedures in refractive surgeries. All these factors may open new growth avenues for the artificial tears market.
North America’s artificial tears market is expected to observe a dominating stance during the forecast period of 2021-2031. The growing adoption of treatment therapies and the reimbursement policies initiated by various companies may ensure profitable growth for the artificial tears market. Europe is also anticipated to follow North America and witness rapid growth due to the high prevalence of ophthalmic disorders and dry eye diseases.
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Artificial Tears Market
