Asia Pacific Artificial Tears Market is expected to reach US$ 549.5 Mn by 2028

Glycerin Derived Tears Segment has the Largest Share of Type in the Asia Pacific Artificial Tears Market during 2021–2028

According to a new market research study on “Asia Pacific Artificial Tears Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Delivery Mode, and Application,” is expected to reach US$ 549.5 million by 2028 from US$ 358.5 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Artificial tears market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising incidence of dry eye and the growing older population are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the poor accessibility to eye care services in countries.

Countries in the Asia Pacific are facing challenges due to increasing incidences of COVID-19. People are packing India’s public Dry Eyes Treatment, as many are unable to afford private ones that generally uphold higher standards of care. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. In November 2020, NovaBay Pharmaceuticals, Inc., a pharmaceutical company focusing on commercializing Avenova for the eye care market, announced the signing of an agreement with Paragon Care Group Australia Pty Ltd for the exclusive distribution of Avenova in Australia. Paragon Care Group will begin distributing Avenova directly to consumers under its Designs for Vision brand beginning in early 2021. Avenova the best product to treat the chronic bacterial infections that affect approximately 85% of all dry eye sufferers. Thus, artificial tears market is moderately impacted due to COVID -19.

The market for Artificial tears market is segmented into type, delivery mode, and application. Based on type, the artificial tears market is segmented into glycerin derived tears, cellulose derived tears, oil-based emulsion tears, polythylene glycol-based tears, sodium hyaluronate based artificial tears, and propylene glycol-based tears. In 2020, glycerin derived tears segment accounted for the largest share of the market owing to their easy availability and ability to keep eyes moist for long. Glycerin is a humectant, as well as a demulcent and lubricant. Glycerin also has the benefit of promoting epithelial cell growth and reducing the harmful effects of high osmolarity on the ocular surface. Povidone is a lipid that binds to the tear film's existing oil layer, thickening it and reducing evaporation.

Johnson and Johnson Services, Inc., Alcon Inc., OASIS Medical, AbbVie Inc., Bayer AG, Prestige Consumer Healthcare Inc., Santen Pharmaceutical Co., Ltd., Bausch Health Companies Inc., and Aurolab are among the leading companies in the Asia Pacific Artificial tears market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in February 2021, Bausch + Lomb launched Alaway® Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops, the first and only over the counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration.

The report segments the Asia Pacific Artificial Tears market as follows:

By Type

• Glycerin Derived Tears
• Cellulose Derived Tears
• Oil-based Emulsion Tears
• Polythylene Glycol Based Tears
• Sodium Hyaluronate Based Artificial Tears
• Propylene Glycol Based Tears

By Delivery Mode

• Eye Drops
• Ointments

By Application

• Dry Eyes Treatment
• Contact Lenses Moisture

By Country

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific