North American Artificial Tears Market Size, Share, Forecast 2019-2025


Posted January 23, 2020 by rishabh3210

North American Artificial Tears Market Size, Share, Forecast 2019-2025North American Artificial Tears Market Size, Share, Forecast 2019-2025
 
The North American artificial tears market is estimated to grow modestly at a CAGR of around 3.9% during the forecast period. North America has a considerable market share in the artificial tears market due to its ability of the region to develop advanced technology through integrated research and innovation in the production of solutions for dry eye syndrome. Moreover, increasing demand for contact lenses is also primarily boosting the market growth in the region. An increase in consumer awareness about the product and cases of dry eye syndrome in these regions supports the market growth.

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The North American market for artificial tears is analyzed based on countries such as the US and Canada. The growth in the North American region is further attributed to the rising demand for contact lens among different age group people leads the adoption of artificial tears and enabling the market to grow further in the region. For instance, according to the Centers for Disease Control & Prevention (CDC), in 2016, an estimated 45 million Americans used contact lenses, of which 14.5% of adolescents were 17 years or younger wore contact lenses. In 2016, an estimated 3.6 million (14.5%) adolescents and 7.5 million (24.4%) young adults aged 18-24 wore contact lenses.

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The companies which are contributing to the growth of the North American 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, in May 2018, Teva Canada Ltd. launched Teva-Cyclosporine ophthalmic emulsion, 0.05% which is an eye drop used in the treatment of dry eye can be used twice-day. In 2017, the company launched generic Pataday1 (olopatadine hydrochloride ophthalmic solution) 0.2%, in the US.

Market Segmentation

North American Artificial Tears Market by Type

Cellulose Derived Tears
Glycerin Derived Tears
Oil-Based Emulsion Tears

North American Artificial Tears Market by Delivery Method

Artificial Eye Drops
Ointments

North American Artificial Tears Market by Application

Dry Eyes Treatment
Contact Lens Moisture
Others

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Issued By Mr. Anurag Tiwari
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Categories Business
Tags north american artificial tears market size , share , forecast 20192025
Last Updated January 23, 2020