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Global Artificial Tears Market to Register a Robust CAGR of 11.4% Throughout the Predicted Period

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 Published Date : 24 Jan 20   |   Views: 95   |  Industry : Life Science

Global Artificial Tears Market to Register a Robust CAGR of 11.4% Throughout the Predicted Period

The global Artificial Tears market is expected to grow significantly due to its increasing usage in treating dry eyes and other eye conditions. A report published by QYR Consulting titled, “Artificial Tears Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025,” offers an evaluation of the key aspects and presents market trends, which are likely to have a major impact on the growth of the market. The global Artificial Tears market is likely to be valued at US$ 4.7 Bn by the end of 2025 from an earlier value US$ 2.2 Bn in 2018, registering a healthy CAGR of 11.4% from 2019 and 2025.

Segmental Analysis

Harmful Effects of Pollution on Eyes is Likely to Boost the Growth of the Dry Eyes Treatment Segment

The application segment is bifurcated into Contact Lenses Moisten, Dry Eyes Treatment, and Others. The increasing number in cases of dry eyes syndrome is due to harmful effects of pollution and because of strain on eyes as a result of continued exposure to digital light. Rising cases of chronic conjunctivitis, which need proper treatment and prescribed medicine are likely to boost the growth of the dry eyes treatment segment. The product segment of the market is classified into Artificial Tear Ointment and Artificial Tear Liquid.

Global Artificial Tears Market to Register a Robust CAGR of 11.4% Throughout the Predicted Period

Asia-Pacific

Global Artificial Tears Market to Register a Robust CAGR of 11.4% Throughout the Predicted Period

Regional Analysis


Asia-Pacific Market is Projected to be the Most Lucrative Market

The availability of a variety of products at affordable prices is likely to fuel the growth of the market in the Asia-Pacific region. The region is also witnessing a rise in aging population, which has a high rate of patients suffering from the condition of dry eyes. This is likely to foster the growth of the market over the next few years.

Key Players


Manufactures are Keen to Improve and Develop Novel Products 

Market players are involved in developing innovative products to offer improved patient care.

For instance, in 2017, Human Medicinal Products (CHMP) approved a product developed by Santen Pharmaceuticals for the treatment of Severe Vernal Keratoconjunctivitis, particularly for marketing in Europe.

Alcon, Allergan, Abbott, Ursapharm, Santen Pharmaceutical, Bausch & Lomb, Ocusoft, Johnson & Johnson, Sintong, Nicox, Wuhn Yuand, and Similasan are major companies that are functioning in the market.

 


Global Artificial Tears Market to Register a Robust CAGR of 11.4% Throughout the Predicted Period

Global CAGR During 2020-2026


11.4%

Market Dynamics


Increasing Cases of Dry Eyes is Driving the Growth of the Artificial Tears Market 

Artificial Tears commonly known as lubricant eye drops have evolved as a solution for patients suffering from severe to the moderate condition of dry eyes. These eye drops have a huge demand as they are also used to moisten contact lenses. Artificial Tears has a major application in treating eye condition due to deficiency in tear production also known as keratoconjunctivitis sicca. Manufacturers are introducing eye drops that are free of preservatives to address the issues of inflammation for patients who require regular usage. Advances in technology is promoting the development of Artificial Tears without side-effects, which is likely to drive the growth of the Artificial Tears market. 


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