Artificial tears market is anticipated to grow at a CAGR of 6.2% during the forecast period (2024-2031). Artificial tears encompass lubricants such as eye drops or ointments used to treat eye issues such as dry eye syndromes, post-surgical care, and counter-environmental irritants among others. The market growth can be attributed to factors such as an aging population, a rise in digital device interaction, increasing air pollution levels, extensive utilization in post-surgery care, the expansion of omnichannel distribution, and increasing consumer consciousness regarding eye protection and care.

Market Dynamics  

Increase in Ageing Population

The demand for artificial tears is expected to be significantly affected by changing population dynamics, particularly with the aging population being more prone to dry eye issues due to reduced natural tear production. These trends are already noticeable in regions including Europe, North America, and Asia-Pacific, where a large portion of the population is aging, and a substantial number of individuals are expected to be over the age of 60 in the next two decades. For instance, according to the United Nations Population Division, Germany is projected to experience a 41.0% increase in its population aged 65 and older by 2050, reaching 24 million people. This demographic group will account for nearly one-third of the total population, while the population aged 15 to 64 is expected to decrease by 23.0%, dropping from around 53 million in 2015 to approximately 41 million by 2050.

Rising Prevalence of Dry Eye Disease (DED)

The demand for artificial tears is on the rise owing to the increasing prevalence of dry eye disease. This increase can be attributed to various factors such as aging, hormonal changes (especially in women), environmental conditions (like dry climates or air conditioning), and prolonged screen use, which reduces blinking. Artificial tears help alleviate symptoms such as irritation, burning, and blurred vision by supplementing the natural tear film, resulting in increased consumption of artificial tear products by individuals seeking effective relief from dry eye symptoms caused by these diverse factors. For instance, a systematic review and meta-analysis by JAMA Ophthalmol was conducted in August 2021. The study included research published between January 2010, and August 2021. Thirteen studies were included in the review, with no restrictions on participant age or language of publication. According to the study results, the prevalence of dry eye was found to be 8.1% (95% prediction interval [PI]), and the prevalence of meibomian gland dysfunction (MGD) was 21.2% (95% PI) in the US population.

Segmental Outlook 

• Based on type, the market is segmented into cellulose-derived tears, glycerin-derived, oil-based emulsion tears, and polyethylene glycol and propylene glycol-based tears.

• Based on delivery method, the market is segmented into eye drops, and ointments.

• Based on application, the market is segmented into dry eye treatment, and contact lenses moisture. 

Ointment Format To Grow Considerably

The ointment segment grew significantly due to its longer-lasting effects and ability to provide intensive lubrication overnight. The segmental growth can be attributed to higher inclination by patients with severe dry eye symptoms or those requiring sustained moisture, advancements in formulation technology, and increasing adoption among elderly populations prone to chronic dry eye conditions. For instance, NTC Srl, a pharmaceutical company focused on research and development based in Italy, along with I-MED Pharma Inc., a Canadian company that specializes in diagnosing and managing dry eye conditions, have jointly declared that I-DEFENSE, a durable ointment containing lanolin and mineral oil designed to alleviate symptoms of dry eyes and lagophthalmos, has been officially approved by the US Food and Drug Administration (FDA). This marks the inaugural European NTC medical device product for ophthalmic purposes to receive clearance for use in the US.

Dry Eye Treatment Holds Major Share Based on Application

The primary use of artificial tears is to treat dry eyes and is becoming more common owing to a range of factors including aging populations, increased use of digital devices, air pollution, and hormonal changes. Furthermore, the market is being supported by growing awareness campaigns and better access to healthcare services, which encourage early diagnosis and treatment of dry eye syndrome and help sustain market growth.

Regional Outlook 

The global artificial tears market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).  

North America is Estimated to Dominate the Global Artificial Tears Market

North America is projected to dominate the artificial tears market in the future, attributed to the increasing elderly population, the growing prevalence of dry eye diseases, the higher level of health consciousness in the regional population, and the presence of major artificial tears product manufacturers such as Johnson & Johnson, Alcon, and Novartis, among others. For instance, according to the Population Reference Bureau, the number of Americans ages 65 and older is projected to increase from 58 million in 2022 to 82 million by 2050, representing a 47.0% increase. The share of the total population in the 65-and-older age group is projected to rise from 17.0% to 23.0%. The U.S. population is older than it has ever been. Between 1980 and 2022, the median age of the population increased from 30.0 to 38.9. Additionally, one-third (17) of states in the country had a median age above 40 in 2022, with Maine (44.8) and New Hampshire (43.3) topping the list.

Global Artificial Tears Market Growth by Region 2024-2031

Asia-Pacific is the Fastest Growing in Global Artificial Tears Market

• The Asia-Pacific countries are expected to contribute vastly to the elderly population in the next two decades, as the region currently encompasses the youngest population proportion, which may contribute to market growth. 

• The regional healthcare ecosystem is constantly evolving, elevating the status quo of eye disease diagnosis, treatment expenditure, and the development of novel and advanced eyecare products.

Market Players Outlook 

*Note: Major Players Sorted in No Particular Order. 

The major companies serving the global artificial tears market include Bayer AG., Johnson & Johnson Surgical Vision, Inc., and Novartis International AG, among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in December 2023, Carl Zeiss Meditec AG announced its agreement to acquire 100% of the shares in Dutch Ophthalmic Research Center (International) B.V. (D.O.R.C.) from the investment firm Eurazeo SE, Paris, France. This acquisition will strengthen and complement ZEISS Medical Technology’s wide ophthalmic portfolio and array of digitally connected workflow solutions for addressing various eye conditions, including retinal disorders, cataracts, glaucoma, and refractive errors.

The Report Covers 

• Market value data analysis of 2023 and forecast to 2031. 
• Annualized market revenues ($ million) for each market segment. 
• Country-wise analysis of major geographical regions. 
• Key companies operating in the global artificial tears market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report. 
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future. 
• Analysis of market-entry and market expansion strategies. 
• Competitive strategies by identifying ‘who-stands-where’ in the market.