The global OTC artificial tears market size reached US$ 4.62 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.41 Billion by 2027, exhibiting at a CAGR of 5.20% during 2022-2027.
Over Counter (OTC) artificial tears are lubricant eye drops that are primarily used for treating dryness and providing relief from pain in the eyes. Manufactured using carboxymethyl cellulose, polyvinyl alcohol, hydroxypropyl methylcellulose, hydroxypropyl cellulose, and hyaluronic acid, their usage helps in treating various eye disorders, such as infections and allergies. These eye drops are widely available in the market in the form of ointment, spray, emulsion, solution, and gel.
OTC Artificial Tears Industry Trends and Drivers:
The global market is primarily driven by the increasing incidences of dry eye syndrome. Furthermore, the widespread adoption of advanced technologies by key market players to develop artificial tears, including small molecule, biologic and recombinant, is significantly contributing to the market growth across the globe.
Moreover, rising investments in research and development (R&D) activities to develop effective product variants have created a positive outlook for the market. Additionally, the growing geriatric population that is more prone to developing eye disorders, increasing healthcare expenditure and continual improvements in e-pharmacy solutions are also providing an impetus to market growth.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AbbVie Inc., Akorn Inc., Alcon, Bausch Health Companies Inc., Johnson & Johnson, Nicox S.A., OASIS Medical, OCuSOFT Inc., Santen Pharmaceutical Co. Ltd., Similasan Corporation, Sun Pharmaceutical Industries Ltd. and URSAPHARM Arzneimittel GmbH.
The report has segmented the market on the basis of region, product, container type, formulation, application and distribution channel.
Breakup by Product:
- Spray Solution
Breakup by Container Type:
- Plastic Single Dose Container
- Plastic Multi-Dose Container
Breakup by Formulation:
- Preservative Based
- Non-Preservative Based
Breakup by Application:
- Dry Eye Syndrome
- UV and Blue Light Protection
- Contact Lens Moisture Retention
Breakup by Distribution Channel:
- Hospital Pharmacies
- Drug Store and Retail Pharmacies
- Online Pharmacies
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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