The US artificial tears market is estimated to grow modestly at a CAGR of around 3.7% during the forecast period. The factors that are contributing significantly to the market growth include the rise in the prevalence of cataract disease and clinical trials and research for the treatment of dry eye syndrome (DES) through artificial tears are prevailing the artificial tears market in the US. There are various organizations and private companies such as Washington University School of Medicine and Novartis Pharmaceuticals that are conducting a clinical trial for the DES treatment by artificial tears.

The artificial tears market has a significant growth in the US due to the increasing prevalence of dry eye syndrome and the rising use of contact lances. According to the American Academy of Ophthalmology, the prevalence of dry eye syndrome increases with age. The population with the age of 65 and above have an increased from 37.2 million in 2006 to 49.2 million in 2016 (a 33% increase) and is projected to almost double to 98 million in 2060. There is rapid growth in the aging population in the country. During the period (1900-2016), the share of the aging population has significantly increased with 93.6% and reached 49.2 million in the US. The trend towards the rising aging population is one of the major reasons boosting the adoption of artificial tears in the country.  DES is most common among aging people as age-related changes affect and create an impact on all components of the lacrimal gland functional unit, which includes the meibomian gland, ocular surface health, conjunctiva and lacrimal gland. As a result, it is ultimately driving the demand for artificial tears for the treatment of the condition and maintaining moisture on the external surface of the eyes. 

The companies which are contributing to the growth of the US artificial tears market include Johnson & Johnson Services Inc., Akorn, Inc., Alcon, Inc., Bausch & Lomb Inc., and CooperVision, Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, OCuSOFT recently partnered with I-MED Pharma in January 2018, to bring the I-PEN Osmolarity System to the US. It is a handheld device that measures the Osmolarity of human tears in normal as well as dry eye disease patients.

Research Methodology

The market study of the US artificial tears market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for drug manufacturers, healthcare providers, government organizations for overall market analysis, and competitive analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. US Artificial Tears Market Research and Analysis by Type
2. US Artificial Tears Market Research and Analysis by Delivery Method
3. US Artificial Tears Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the US artificial tears market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US artificial tears market.
• Insights about market determinants which are stimulating the US artificial tears market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.