Artificial Intelligence
OTC Artificial Tears Market Size is projected to reach USD 6.79 Billion by 2030, growing at a CAGR of 5.10%: Straits Research
New York, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) — The application of artificial tears protects and hydrates mucous membranes and alleviates dryness and irritation of the eyes. Artificial Tears is a specially formulated ocular lubricant. These eye drops can treat dry eyes brought on by aging, specific medications, a medical condition, eye surgery, or environmental factors such as wind and smog. Artificial tears alleviate the discomfort, irritation, and burning caused by dry eyes. Over-the-counter (OTC) artificial tears are sold directly to consumers without a prescription. In addition to lubricating the eyes, some artificial tears promote eye healing, while others reduce tear evaporation. Artificial tears may also contain thickening agents that prolong the solution’s contact with the eye’s surface.
The global market for over-the-counter (OTC) artificial tears is primarily driven by an increase in the geriatric population, an alarming rise in the prevalence of dry eye syndrome (DES), and an increase in eye surgeries, which increases the demand for artificial tear drops for post-surgery management. In addition, changes in lifestyle habits, such as prolonged exposure to digital displays and an increase in smartphone addiction, cause dry eye syndrome, which increases the demand for artificial tears and drives the market growth. In addition, as the number of eye surgeries increases, so does the requirement for artificial tear drops for post-operative care.
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Growing Prevalence of DES and Allergic Conjunctivitis and Growth in Geriatric Population to Drive the Global OTC Artificial Tears Market
The availability of various dosage forms of over-the-counter artificial tears for the prevention, diagnosis, and treatment of dry eye syndrome is one of the key factors driving the market growth. In 2019, the American Academy of Ophthalmology (AAO) reported that dry eye syndrome affected approximately 3.2 million women and 1.68 million men. Dry eye syndrome can result in infection, blurred vision, and sensitivity if left untreated for an extended period. In addition, it is estimated that the incidence rate of distance vision impairment is four times higher in low- and middle-income countries than in high-income countries.
Eye drops, solutions, gels, suspension, and ointments are among the many formulations of artificial tears available over-the-counter for treating dry eye syndrome. Patients’ medications are distributed by the distribution channel, including hospitals, online pharmacies, and drug stores. Furthermore, allergic conjunctivitis is one of the most common causes of eye inflammation. 40% of the global population was diagnosed with allergic conjunctivitis in 2021, according to StartPearls. Due to the rapid spread of allergic conjunctivitis and dry eye syndrome, the market for over-the-counter artificial tears is expanding.
The aging global population drives the expansion of the global market for OTC artificial tears. The elderly have the highest prevalence of eye diseases such as dry eye, glaucoma, age-related macular degeneration, cataract, and presbyopia. According to data published by the United Nations, there were approximately 703 million individuals aged 65 and older in 2019. Globally, the proportion of the over-65 geriatric population increased from 6% in 1990 to 9% in 2019. Between 5% and 30% of the elderly suffer from dry eyes. An increase in the elderly population drives the expansion of the market for over-the-counter artificial tears.
Report Scope
| Report Metric | Details |
| Market Size | USD 6.79 Billion by 2030 |
| CAGR | 5.10% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Container Type, Formulation, Application, Distribution Channel, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | AbbVie, Inc., Akorn, Inc., Alcon, Bausch & Lomb, Johnson & Johnson, Ocusoft, Santen Pharmaceutical Co. Ltd, Similasan Corporation, Sun Pharmaceutical Industries Limited , Ursapharm Arzneimittel GmbH |
| Key Market Opportunities | Growing Research and Development by Major Players |
| Key Market Drivers | Growing Prevalence of DES and Allergic Conjunctivitis Growth in Geriatric Population |
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Regional Insights
North America is most likely to hold the largest market share during the forecast period growing at a CAGR of 4.57%. Due to the increasing prevalence of geriatrics, the expansion of health care infrastructure, the introduction of sophisticated products, and the presence of market leaders, North America will continue to dominate the market in terms of revenue during the forecast period. The increasing prevalence of dry eye syndrome and advances in ophthalmology R&D are expected to fuel market expansion.
In addition, it is anticipated that the increase in the number of eye surgeries will contribute to the region’s dominance during the study period. For instance, the Centers for Disease Control and Prevention (CDC) reported that over 4,2 million Americans aged 40 and older had legal blindness or low vision. In the United States, cataracts and glaucoma are the leading causes of blindness.
Europe will have the second-largest market share of USD 2,008 million, growing at a CAGR of 5.25% by 2030. The rise in the number of cataract surgeries, the presence of key market players, technological advancements in the healthcare industry, and the adoption of contact lenses are viewed as the primary growth drivers of the market. Europe’s increasing technological advancement in ophthalmology is the primary market driver. Due to the rapid adoption of artificial tears in Europe, the over-the-counter market for artificial tears is expanding rapidly. As cataract surgery becomes more prevalent in Europe, demand for over-the-counter (OTC) artificial tears to alleviate itching, irritation, redness, and burning sensations increases.
Asia-Pacific will grow at the highest CAGR during the forecast period. Due to a rise in the elderly population, the number of cataract and glaucoma surgeries, and environmental pollution, the Asia-Pacific market is anticipated to experience substantial growth during the forecast period. Many patients in China and India suffer from dry eye, making them highly attractive investment markets. Additionally, the increase in the number of patients diagnosed with dry eye syndrome and the rise in awareness programs for the prevention and management of the ocular disease is anticipated to provide growth opportunities for the manufacturer of novel artificial tear products and boost the expansion of the global market for over-the-counter artificial tears.
Increment in the geriatric population, increase in cataract and glaucoma surgeries and advances in R&D drive market growth. Environmental pollution is one of the leading causes of ocular disease, which in turn causes irritation and dry eye syndrome. In addition, China’s pollution index of 81.12 indicates an increase in environmental pollution. Those who reside in areas with a high risk of air pollution are more likely to suffer from dry eye disease.
Key Highlights
- The global OTC artificial tears market size had a revenue share of USD 4,565 million in 2021, expected to advance to USD 6,797 million growing at a CAGR of 5.10% during the forecast period.
- Based on product type, the solution type will have the largest share in the OTC artificial tears market, growing at a CAGR of 5.13% during the forecast period.
- Based on container type, the Plastic Multi-Dose Container is anticipated to have the largest share during the forecast period advancing a CAGR of 5.35%.
- Based on formulation, preservative based will have the largest market share growing at the highest CAGR of 5.21% during the forecast period.
- Based on the application, the dry eye syndrome will hold the largest market share during the forecast period, advancing a CAGR of 4.63%.
- Based on the distribution channel, the drug stores & retail pharmacies are expected to hold the largest market share during the forecast period growing at a CAGR of 4.87%.
- Based on regional analysis, North America is most likely to hold the largest market share during the forecast period growing at a CAGR of 4.57%.
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Competitive Players in the Market
- AbbVie, Inc.
- Akorn, Inc.
- Alcon
- Bausch & Lomb
- Johnson & Johnson
- Ocusoft
- Santen Pharmaceutical Co. Ltd
- Similasan Corporation
- Sun Pharmaceutical Industries Limited
- Ursapharm Arzneimittel GmbH
Global OTC Artificial Tears Market: Segmentation
By Product Type
- Solution
- Ointment
- Emulsion
- Gel
- Spray Solution
- Suspensions
By Container Type
- Plastic Single-Dose Container
- Plastic multi-dose containers
- Preservative-Free System
- Preserved System
- Spray
- Preservative-Free System
- Preserved System
By Formulation
- Preservative Based
- Non-Preservative Based
By Application
- Dry Eye Syndrome
- Allergies
- Infections
- UV & Blue Light Protection
- Contact Lens Moisture Retention
- Others
By Distribution Channel
- Hospital Pharmacies
- Drug Store & Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Europe
- Asia-Pacific
- Middle-East
- North Africa
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: OTC Artificial Tears Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Product Type Overview
- Introduction
- Market Size & Forecast
- Solution
- Market Size & Forecast
- Ointment
- Market Size & Forecast
- Introduction
- Container Type Overview
- Introduction
- Market Size & Forecast
- Plastic Single-Dose Container
- Market Size & Forecast
- Spray
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Product Type
- By Container Type
- Canada
- By Product Type
- By Container Type
- Mexico
- By Product Type
- By Container Type
- Latin America
- By Product Type
- By Container Type
- Europe
- Market Size & Forecast
- Germany
- By Product Type
- By Container Type
- France
- By Product Type
- By Container Type
- U.K.
- By Product Type
- By Container Type
- Italy
- By Product Type
- By Container Type
- Spain
- By Product Type
- By Container Type
- Rest of Europe
- By Product Type
- By Container Type
- Asia Pacific
- Market Size & Forecast
- Japan
- By Product Type
- By Container Type
- China
- By Product Type
- By Container Type
- Australia
- By Product Type
- By Container Type
- India
- By Product Type
- By Container Type
- South Korea
- By Product Type
- By Container Type
- Rest of Asia-Pacific
- By Product Type
- By Container Type
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Product Type
- By Container Type
- South Africa
- By Product Type
- By Container Type
- Kuwait
- By Product Type
- By Container Type
- Rest of Middle East & Africa
- By Product Type
- By Container Type
- Introduction
- Company Profile
- AbbVie Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Akorn Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Alcon
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- AbbVie Inc
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/otc-artificial-tears-market/toc
Market News
- In 2022, Akorn, Inc. announced the completion of its sale of seven branded ophthalmic products to Théa Pharma.
- In 2022, Bausch & Lomb announced the launch of Reviveä Custom Soft Contact lenses.
News Media
Have a Look at the Related Research Report
Artificial Tears Market: Information by Type (Cellulose Derived Tears, Glycerin Derived Tears), Delivery Method (Eye Drops, Ointments) and Applications (Dry Eyes Treatment) —Forecast Till 2026
Contact Lenses Market: Information by Usage (Daily Wear), Design (Multifocal), Material (Gas Permeable), Application (Corrective) Distribution Channel, and Region — Forecast till 2029
Eye Health Supplements Market: Information by Supplement Category (Antioxidants), Therapeutic Domain (Age-Related Macular Degeneration), Product Type, and Region — Forecast till 2029
Global Eyewear Market: Information by Product Type (Spectacles, Sunglasses, and Contact lenses), Distribution Channel (Online Store and Retail Store), and Regions-Forecast Till 2030
Diabetic Retinopathy Market: Information By Type (Proliferative DR and Diabetic Macular Edema), Treatment Type (Anti VEGF Drug, Steroid Implants) and Regional Outlook—Forecast Till 2026
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
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Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
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“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
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“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/clinical-trials-matching-software
“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
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