Artificial Tears Market Dynamics 2017: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “Artificial Tears Market By Type & End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the artificial tears market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the artificial tears market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
Artificial tears are lubricant eye drops use to treat the dryness and irritation associated with tear production in dry eyes. They are also used to moisten contact lenses and in eye examinations. Artificial tears coupled with other treatments to treat severe forms of moderate to dry eyes. These tears are made to imitate real tears and treating various eye problems. They are made by employing salts, water, and polymers. Nevertheless, these artificial tears do not inherit the proteins present in real tears. And they are easily available in any pharmacy or medical stores. The major uses of artificial tears are in tear gases and the demand for these varies according to region on the basis of population and disease prone area.
The major driver for artificial tears market is growing medical cases of dry eyes syndrome (DES). This syndrome cause due to excessive exposure of eyes to digital displays chronic conjunctivitis, poor eyelid, scars of eye injury, regular air travels, poor diet, malnutrition, the rise in the level of pollution, dry weather spells, and severe climatic changes.
The factors like, increasing predominance preservative artificial tears, technological advances, the rising requirement for advanced care for post-surgery dry eyes, the mounting number of mobile and smartphone addicts, and increasing number of people wearing contact lens can be the restraints to the artificial tears market.
Asia Pacific and Latin American region is the global leader in artificial tears market in terms of values and extent. Due to less income of consumers and wide availability of tear gas products, the market contributes high demand for artificial tears. This growth can be attributed to the rising number of aged population and the growing incidences of DES patients in North America and European region.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in global artificial tears market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Allegan Inc., Alcon Inc., Santen Pharmaceuticals, Novartis International AG, Bausch & Lomb, McNEIL-PPC Inc., Advanced Vision Research Inc., and Abbott Medical Optics Inc., Johnson and Johnson, Akorn, Inc., Novagali Pharma S.A.
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