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.
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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 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.
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US Artificial Tears Market Segmentation
US Artificial Tears Market by Type
• Cellulose Derived Tears
• Glycerin Derived Tears
• Oil-Based Emulsion Tears
US Artificial Tears Market by Delivery Method
• Artificial Eye Drops
US Artificial Tears Market by Application
• Dry Eyes Treatment
• Contact Lens Moisture
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