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Europe Artificial Tears Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type ; Delivery Mode ; Application

Europe Artificial Tears Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type ; Delivery Mode ; Application

  • July 2021
  • 131 pages
  • ID: 6134614
  • Format: PDF
  • The Insight Partners

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The Artificial tears market in Europe is expected to grow from US$ 546.0 million in 2021 to US$ 816.9 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The industry is witnessing a considerable number of business activities that are generating a very lucrative growth opportunity for the market. The players in the industry are focusing on brand establishments, as well as consolidation of supply chain distribution channels with an aim to leverage their presence in the global market. For instance, in March 2020, Grafton Optical launched I-DROP MGD Viscoadaptive Tears that provide the relief for severe chronic evaporative dry eye. I-DROP MGD is preservative-free, artificial tear that helps relieve symptoms associated with evaporative dry eye, for patients suffering from Meibomian Gland Dysfunction. It is the most advanced eye drop for hydrating and lubricating the cornea. In addition, the companies are working proactively to launch advanced products in the market. For instance, in March 2020, Alcon, the global leader in eye care introduced SYSTANE HYDRATION Preservative-Free (PF) Lubricant Eye Drops for dry eye. It is used to relieve dryness of the eye and as a protectant against further irritation. Further, in October 2019, Allergan launched a new product line called Refresh Relieva lubricant eye. The launch of the novel product has helped the company retain its position in the eye drop industry. Such strategic events are likely to offer lucrative growth opportunity for the artificial tears market during the forecast period.
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.
More time indoors with the central heating on and staring at a screen for long periods are both factors that are thought to have led to an increase of Dry Eye Syndrome in the COVID-19 pandemic.According to studies, one in every four persons in the UK (about 13 million adults) suffers from Dry Eye, a condition that causes red, itchy, and fatigued eyes.

Eye strain, another eye issue that has become more widespread in line with an increase in time spent staring at screens, can exacerbate these symptoms.Excessive screen time or failing to give one’s eyes regular rests are two prominent causes - and one only needs to look at some of the statistics to understand how the strain of ‘virtual living’ is affecting one’s eyes.

According to research, UK adults purchased up to 21 million new digital devices during the lockdown, including TVs, games consoles, and laptops, with another study by Zen Internet finding that internet usage in the UK surged by 78% year-on-year in 2020.Other known causes of Dry Eye include prolonged exposure to air conditioning or heating, long-term contact lens wear, and as a side effect of some drugs. Hormone abnormalities may also be to reason. Women going through perimenopause and menopause may find that their eyes become dryer, which is connected to hormonal changes caused by estrogen levels dropping. These factors had a potential impact on the Europe artificial tears market.
The overall Europe Artificial tears market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe Artificial tears market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Artificial tears market. Johnson and Johnson Services, Inc.; Alcon Inc.; OASIS Medical; AbbVie Inc.; Bayer AG; Prestige Consumer Healthcare Inc.; Santen Pharmaceutical Co., Ltd.; and Bausch Health Companies Inc. are among a few players operating in the Europe Artificial tears market.

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