Over-the-Counter Artificial Tears Market generated USD 4,379 Million in 2020 and is projected to reach USD 6,399.43 Million by 2028, growing at a CAGR of 4.94% from 2021 to 2028.
PORTLAND, OREGON, USA, July 24, 2022 /EINPresswire.com/ — Over-the-Counter Artificial Tears Market by Product Type, Container Type, Formulation, Application and Distribution Channel: Global Opportunities Analysis and Market Forecast industry, 2021-2028. Artificial tears are the lubricating eye drops, which are used for the treatment of dryness and irritation mainly caused by a lack of tear production. These artificial tears are formulated to initiate natural tears and treat various eye conditions such as allergies, infections, and protection against UV and blue light. It has also been used to moisturize the contact lens.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Bausch and Lamb
Johnsons and Johnsons
Santen Pharmaceutical Co. Ltd
Sun Pharmaceutical Industries Limited
Ursapharm Arzneimittel GmbH
𝐆𝐞𝐭 𝐔𝐩 𝐓𝐨 𝟏𝟎% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭, 𝐓𝐢𝐥𝐥 𝐭𝐡𝐞 𝐃𝐚𝐭𝐞 𝟐𝟎𝐭𝐡 𝐨𝐟 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟎𝟐𝟐.
The COVID-19 outbreak is expected to moderately impact the growth of the global over-the-counter artificial tears market. The coronavirus pandemic has severely affected various industries around the world. The implementation of containment by governments must lead to the disruption of the supply chain. However, the facility for non-essential medical products will improve the market outlook during the pandemic.
The development of effective OTC artificial tears has become essential, due to the increased incidence of dry eye syndrome and eye surgeries. Over-the-counter artificial tears are administered in different dosage forms such as solution, ointment, emulsion, gel, spray solution and suspension depending on the indication. Market players are focused on developing new approaches for the development of over-the-counter artificial tears over the years, including small molecule, biologic, and recombinant technologies. Increased R&D investment in the development of new artificial tears for the treatment of dry eye syndrome, allergies, and UV and blue light protection, and an increase in the geriatric population are expected to drive growth of the over-the-counter artificial tear market. Furthermore, increasing awareness of dry eye syndrome among the population complements the growth of the market.
The OTC Artificial Tears market is segmented into product type, container type, formulation, application, distribution channel, and region. On the basis of product type, the market is divided into solution, ointment, emulsion, gel, spray solution, and suspension. The solutions segment led the market in 2020, owing to the increase in demand for products available in the form of eye drops and increase in patient acceptability.
Based on container type, the market is categorized into plastic single-dose container, plastic multi-dose container, and spray. The plastic multi-dose container has spearheaded the market in 2020, which is attributed to the fact that the majority of drugs administered for the treatment of dry eye syndrome and prevent germs from entering even after repeated administration. The plastic single dose containers segment is further classified into preservative-free system and preserved system. Furthermore, the spray segment is further divided into a preservative-free system and a preserved system. By formulation, the market is separated into a preservative-based and a non-preservative-based market. Preservative-free segment forms are expected to dominate the market over the study period, due to low risk of adverse reaction and increased adoption of preservative-free eye drops.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
• By product type, the solutions segment was the largest contributor to the market in 2020.
• By container type, the plastic multi-dose container segment was the largest contributor to the market in 2020.
• By formulation, the preservative-free segment was the largest market contributor in 2020.
• By application, the dry eye syndrome segment was the largest contributor to the market in 2020.
• By distribution channel, the Drug Store & Retail Pharmacies segment led the market in 2020 and is expected to continue this trend throughout the forecast period.
• By region, North America garnered the largest revenue share in 2020, while Asia-Pacific is expected to grow at the highest CAGR over the forecast period.
North America accounted for the majority of the global over-the-counter artificial tears market share in 2020 and is expected to remain dominant during the forecast period. This is attributed to the increasing prevalence of the geriatric population, increasing prevalence of dry eye disease, and government eye health initiatives. In addition, increased awareness for the prevention and treatment of eye diseases and increasing demand for advanced healthcare facilities are contributing to the growth of the market. Additionally, the upsurge in R&D activities in the healthcare sector to develop new over-the-counter artificial tears and the presence of major players operating in the region are fueling the growth of the market. Asia-Pacific is expected to experience lucrative growth, driven by rising prevalence of allergies and dry eye and increased awareness of over-the-counter artificial tears.
𝐖𝐞 𝐚𝐥𝐬𝐨 𝐎𝐟𝐟𝐞𝐫𝐬 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-
North America OTC Artificial Tears Market
Japanese OTC Artificial Tears Market
South Korea OTC Artificial Tears Market
Singapore OTC Artificial Tears Market
Australian OTC Artificial Tears Market
European OTC Artificial Tears Market
Chinese OTC Artificial Tears Market
Indonesian OTC Artificial Tears Market
Taiwan OTC Artificial Tears Market
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
AI in the healthcare market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 :
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 industry sectors, including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Power, semiconductors and electronics, automotive and transport, ICT and media, aerospace and defense and BFSI.
Allied Analytics LLP
write to us here
Visit us on social media: