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With 5.9% CAGR, Artificial Tears Market Size to Surpass Around USD 4.30 Billion by 2027

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Pune, India, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global artificial tears market size is expected to capacity USD 4.30 billion by 2027, exhibiting a CAGR of 5.9% during the forecast period. The growing incidence of ocular diseases can be a vital factor amplifying the hike of the global market, the market size stood at USD 2.64 billion in 2019.
Artificial tears are a type of medical device that are often used to treat eye diseases and injuries. They are made from a mixture of water and a type of artificial eye fluid, which is often made from a type of synthetic oil. They are often used to replace the natural tears that are produced in the eye.

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Industry Development

  • July 2021 – Bausch+Lomb, a subsidiary of Bausch health Companies Inc. announced the launch of Biotrue Hydration Boost Lubricant Eye Drops and Biotrue Micellar Eyelids Cleansing Wipes in the U.S. region. These products are developed for patients suffering with irritated, dry eyes.
  • April 2021 – Alcon, announced that they have launched Systane Hydration Multi-Dose Preservative-Free Lubricant eye drops in the U.S. region. This product is a new addition to their existing portfolio of dry eye products. These new eye drops are preservative free and provides moisture to patients with sensitive dry eyes.

Report Scope

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2020 to 2027 CAGR 5.9%
2027 Value Projection USD 4.30 Billion
Base Year 2019
Market Size in 2019 USD 2.64 Billion
Historical Data for 2016 to 2018
No. of Pages 135

Regional Analysis:

Presence of Eminent Players to Promote Business in North America

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The market size in North America stood at USD 1.38 billion in 2019. The growth in North America is attributed to the robust healthcare infrastructure. The growing demand for sophisticated artificial tears will enable the growth of the market. The presence of key market players will influence growth in the region. The increasing prevalence of dry eye syndrome and other ocular diseases such as eye allergies will create lucrative business opportunities for the market.

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As per the survey conducted by National Health and Wellness in 2013, it was estimated that up to 6.8% of the population in the U.S. was to be affected by dry eye syndrome. The large patient population is likely to accelerate revenue in North America. The market in Asia Pacific is expected to witness a rapid growth rate during the forecast period due to the growing awareness about ocular diseases. The increasing patient population and healthcare expenditure will foster the healthy growth of the market in the region. The Middle and East and Africa are predicted to account for a significant share in the global market due to the enriching economic conditions and improved healthcare systems.

Market Driver:

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Introduction of Technologically Advanced Products to Bolster Growth

The constant efforts of eminent players to launch advanced and sophisticated products are expected to have a tremendous effect on the market. For instance, SYSTANE released a variety of products such as Systane® Complete, Systane® Ultra Lubricant Eye Drops, Systane® Balance Lubricant Eye Drops, Systane® Ultra Lubricant Eye Drops, Systane® Preservative-Free Lubricant Eye Drops, Systane® Nighttime Ointment, Systane® Day & Night Lubricant Eye Drop and others. The increasing awareness among the patient population will contribute positively to the growth of the market during the forecast period. The rising cases of dry eye syndrome and conjunctivitis will spur the demand for artificial tears, which, in turn, will boost the market.

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The artificial tears market encompasses:

  • Wide-ranging analysis of the market
  • Valuable insights into the regions
  • Key market trends and drivers
  • Severe impact of COVID on the industry
  • High-end data about prominent players

Ease on OTC Products to Offer Impetus to Market During COVID-19

The coronavirus pandemic has severely affected various industries across the globe. The implementation of lockdown by governments has to lead to the disruption of the supply chain. However, the facility for non-essential medical products will improve the prospects of the market during the pandemic. The ease on over the counter (OTC) products such as artificial tears can further aid the speedy expansion of the market. The demand for teardrops in online pharmacies will subsequently propel the growth of the market.

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The coronavirus has majorly disturbed businesses working across various sectors. The restriction on transportation has limited the supply of products. Moreover, the government of several countries has initiated lockdown to prevent the spread of this infectious disease. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.

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Market Segmentation:

Segmentation By Type
  • Polyethylene Glycols (PEG) and Polypropylene Glycols (PPG)
  • Cellulose
  • Others
By Delivery
  • Eye Drops
  • Ointments
By Distribution Channel
  • Hospital Pharmacies
  • Drug Stores & Retail Pharmacies
  • Online Pharmacies

The Report Lists the Main Companies in the Artificial Tears Market:

  • Allergan (AbbVie Inc.) (Dublin, Ireland)
  • Santen Pharmaceutical Co., Ltd. (Osaka, Japan)
  • Bausch & Lomb (Laval, Canada)
  • Alcon (Geneva, Switzerland)
  • Novartis AG (Basel, Switzerland)
  • Akorn Inc. (Lake Forest, U.S.)
  • Eyevance Pharmaceuticals LLC (Forth Worth, U.S.)
  • Sun Pharmaceutical Industries Ltd. (Mumbai, India)
  • Johnson & Johnson (New Brunswick, U.S.)
  • Bayer AG (Leverkusen, Germany)
  • Otsuka Pharmaceutical Co., Ltd. (Tokyo, Japan)
  • Other Players

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Table of Content:

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  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Prevalence of Dry Eye Disease – By Key Countries
    • Prevalence of Conjunctivitis – By Key Countries
    • Pipeline Analysis
    • Key Industry Developments
    • New Product Launches
    • Regulatory Scenario – By Key Countries
    • Reimbursement Scenario – By Key Countries
    • R&D Advancements in Artificial Tears
  • Global Artificial Tears Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Polyethylene Glycols (PEG) and Polypropylene Glycols (PPG)
      • Cellulose
      • Others
    • Market Analysis, Insights and Forecast – By Delivery
      • Eye Drops
      • Ointments
    • 5.4 Market Analysis, Insights and Forecast – By Application
      • Dry Eye Syndrome
      • Allergies & Infections
      • Others
    • Market Analysis, Insights and Forecast – By Distribution Channel
      • Hospital Pharmacies
      • Drug Stores & Retail Pharmacies
      • Online Pharmacies
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • North America Artificial Tears Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis – By Type
      • Polyethylene Glycols (PEG) and Polypropylene Glycols (PPG)
      • Cellulose
      • Others
    • Market Analysis – By Delivery
      • Eye Drops
      • Ointments
    • Market Analysis – By Application
      • Dry Eye Syndrome
      • Allergies & Infections
      • Others
    • Market Analysis – By Distribution Channel
      • Hospital Pharmacies
      • Drug Stores & Retail Pharmacies
      • Online Pharmacies
    • Market Analysis – By Country
      • U.S.
      • Canada

TOC Continued…

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Artificial Intelligence

Hyperlink InfoSystem: #1 New York’s Fastest-Growing App Development Company in 2024

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NEW YORK and LOS ANGELES, July 8, 2024 /PRNewswire/ — The booming market of mobile app development in the United States is experiencing a phenomenal level of growth. With projections estimating this market to reach a whopping $187 billion by 2026, this spike in demand has created a fruitful ground for enterprises to jump in and monetize. New York is one such tri-state area known for its modern tech innovation and highly competitive market, and global leaders are trying to make a name and reputation in the current NYC tech scene. Almost every other industry is trying to get a piece of the cake but only a handful of companies have succeeded in delivering triumphant app solutions.

This growing surge is further fueled by an increase in smartphone users and diverse industries opting for Android and iOS apps across industries. That’s where Hyperlink InfoSystem’s global presence took the cake. Being one of Big Apple’s fastest-growing app development companies in 2024, Hyperlink InfoSystem has cemented its reputation for delivering some of the most effective and unique mobile app solutions to clients across various industries. This remarkable growth trajectory is further fueled by the commitment to delivering meritorious, customized solutions with a user-first approach. Hyperlink InfoSystem’s rise to prominence in New York’s tech scenario is a testament to its perseverance and innovation as a top app development company in 2024.
With a staggering number of 2700+ globally satisfied clients and a credible 98% client retention rate, Hyperlink InfoSystem’s success is further enhanced by its client satisfaction ratios. Since its inception in 2011, they have leveraged top cutting-edge technologies such as AI, blockchain, AR/VR, big data, and NFTs to yield top-notch app solutions that are high-performing and feature-loaded. Boasting a proficient team of developers, thought leaders, and out-of-the-box thinkers, they pride themselves on understanding the unique objectives and obstacles faced by many clients, rendering tailored solutions for tangible results. 
In a recent conversation, Mr. Harnil Oza, CEO of Hyperlink InfoSystem, expressed his happiness over the company’s accomplishments and goals for the future. “At Hyperlink InfoSystem, we are embracing innovation to its fullest in today’s dynamic mobile landscape. We have the best of developers and strategists spread across the globe who meticulously craft apps that transform their enterprise digitally and ensure a fighting competition in the crowded app marketplace.” When asked about what new arenas they’re willing to explore, Harnil said, “The global mobile market is bursting with billions of smartphone users, and hence now the focus is on building unique and objective-oriented applications that also create new opportunities for users and clients alike.”
Looking ahead, Hyperlink InfoSystem plans to retain its pace by geometrically growing the mobile app development industry, expanding its developer staff, cultivating an innovative culture, and investing more in emerging technologies. The company rigorously develops each app to ensure stability and peak performance. As demand for feature-packed, customer-driven products grows, the enterprise will now focus on delivering new-age solutions inspired by this trend. The mobile app market will continue its ascent, and Hyperlink InfoSystem aspires to remain the leading force behind every innovation, by shaping the future of the app experience for users and businesses.
About Hyperlink InfoSystem
Hyperlink InfoSystem is a prominent international enterprise excelling in IT solutions in many domains. Since its humble beginnings in 2011, its specialization in technologies has expanded across web development, mobile app development, enterprise software solutions, and now Artificial Intelligence (AI). With over 1200+ employees and a global presence in the USA, UK, UAE, France, India, and Canada, Hyperlink InfoSystem is dedicated to assisting corporations to leverage the complete power of technology to accomplish their goals.
Contact Details:Hyperlink InfoSystemHarnil [email protected]
New York Address:One World Trade Center285 Fulton Street suite 8500,New York, NY 10007,United States
Mumbai Address:Level 8, Vibgyor Towers C 62,G Block Bandra Kurla Complex,Mumbai, Maharashtra 400098
London Address:Level 30, The Leadenhall Building,122 Leadenhall Street,London EC3V 4AB
Canada Address:151 Yonge Street, 11th Floor,Toronto, Ontario, M5C 2W7,Canada
Logo: https://mma.prnewswire.com/media/2429933/4743119/Hyperlink_InfoSystem_Logo.jpg

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The $4.6 Trillion Digital Transformation Market Boom: Businesses Embrace AI and Automation for Growth – Horizon Databook by Grand View Research, Inc.

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SAN FRANCISCO, July 8, 2024 /PRNewswire/ — The digital transformation market is experiencing a period of phenomenal growth fueled by a relentless pursuit of innovation and efficiency. According to a recent report by Grand View Research, Inc., the global digital transformation market is projected to reach USD 4.6 trillion by 2030, with a compound annual growth rate (CAGR) of 26.7% from 2024 to 2030. A prime instance of this growth is Huawei Technologies Co., Ltd.’s announcement in July 2024 at the Africa Connect 2024 event in Johannesburg. The company introduced its Xinghe Intelligent Network Solution, designed to help African nations leverage Net5.5G technology and accelerate their digital transformation journeys. This initiative highlights the expanding role of next-generation networking solutions in driving regional growth and infrastructure development. Here, we delve into the prominent categories poised to significantly impact the market in the coming years:

The artificial intelligence (AI) market is a cornerstone of digital transformation. Expected to grow from USD 196.6 billion in 2023 to USD 1.8 trillion by 2030, AI is revolutionizing industries through automation, predictive analytics, and machine learning. Companies such as OpenAI and NVIDIA Corporation are leading the charge with innovative AI solutions. For instance, OpenAI’s GPT-4 is enhancing customer service automation, while NVIDIA Corporation’s GPUs are powering AI-driven research in healthcare.Quantum computing industry, though still in its nascent stage, promises to redefine computing capabilities. The quantum computing market is projected to grow from USD 1.2 billion in 2023 to USD 4.0 billion by 2030. International Business Machines Corporation and Google LLC are making significant strides, with International Business Machines Corporation’s Quantum System One and Google LLC’s quantum supremacy achievement showcasing the potential for solving complex problems that are currently intractable for classical computers. These advancements could revolutionize fields like cryptography, material science, and complex system simulations.Digital experience platforms (DXPs) are critical for enhancing customer engagement and personalization. The digital experience platforms market is set to grow from USD 12.4 billion in 2023 to USD 30.4 billion by 2030. Companies like Adobe Inc. and Salesforce, Inc. are key players, with Adobe Experience Cloud and Salesforce Experience Cloud enabling businesses to create seamless, personalized customer journeys. An example is Starbucks Coffee Company, which uses Adobe Inc.’s platform to deliver personalized experiences to its millions of customers worldwide.The demand for low-code development platforms is skyrocketing, driven by the need for rapid application development and deployment. The low-code development platforms market is anticipated to reach USD 35.2 billion by 2030, up from USD 6.8 billion in 2022. Leading companies like Mendix Technology BV and OutSystems are providing platforms that empower organizations to build applications with minimal coding. Siemens, for example, uses Mendix Technology BV to accelerate its digital innovation processes, significantly reducing the time to market for new solutions.Cloud computing continues to be a pillar of digital transformation, offering scalable and flexible solutions for businesses. The cloud computing market is expected to grow from USD602.3 billion in 2023 to USD2.4 trillion by 2030. Amazon Web Services (AWS), Microsoft Azure, and Google Cloud dominate this space. Netflix, leveraging AWS, can scale its services to millions of users globally, ensuring high availability and performance.The AI chipset market is booming and companies like Intel Corporation and Advanced Micro Devices, Inc. are at the forefront, developing chipsets that enhance the processing capabilities of AI applications. Tesla’s use of custom AI chips in its autonomous vehicles exemplifies how these advancements are pushing the boundaries of AI integration in everyday technology.Computer vision technology is transforming sectors like healthcare, automotive, and retail. The computer vision market is expected to grow from USD 16.7 billion in 2023 to USD 58.3 billion by 2030. Companies such as Google LLC and Amazon Web Services, Inc. are leading the way, with Google LLC’s DeepMind improving diagnostic accuracy in healthcare and Amazon Go stores utilizing computer vision for a seamless shopping experience without checkouts.Extended reality (XR), encompassing virtual reality (VR), augmented reality (AR), and mixed reality (MR), is revolutionizing how we interact with digital environments. The extended reality market is projected to expand from USD 142.4 billion in 2023 to USD 1.1 trillion by 2030. Companies like Meta (formerly Facebook) and Microsoft are pioneers, with Meta’s Oculus VR headsets enhancing gaming experiences and Microsoft’s HoloLens transforming training and remote collaboration.Blockchain technology is gaining traction for its potential to enhance security and transparency across various industries. The blockchain technology market is set to grow from USD 10.0 billion in 2022 to USD 1.4 trillion by 2030. Companies like International Business Machines Corporation and Stiftung Ethereum are leading innovations, with International Business Machines’ blockchain solutions improving supply chain transparency and Stiftung Ethereum’s smart contracts enabling decentralized applications (DApps).The Internet of Things (IoT) market is rapidly expanding, driven by the proliferation of connected devices. IoT is enabling smarter homes, cities, and industries. Companies like Cisco Systems, Inc. and Siemens are at the forefront, with Cisco Systems, Inc.’s IoT solutions enhancing network connectivity and Siemens’ smart factory initiatives optimizing manufacturing processes.The digital transformation market is a dynamic and rapidly evolving landscape, driving innovation and growth. As companies continue to invest in these technologies, the future promises even more groundbreaking advancements and opportunities. Staying informed of these trends is essential for businesses aiming to thrive in a digitally driven world, ensuring they are well-positioned to leverage the full potential of digital transformation in the years to come.
About Horizon Databook – The most extensive market research database
Horizon Databook is the largest market research database with over 1 million data points across 20,000+ markets. The platform is first-in-class and is designed to service a full suite of market research clients. It is a one, five solution platform and includes the following: 
Over 1 million market statistics: Global, regional and country (25+) statistics focusing on revenue, volume and growth spanning across a timeline of 10 years form the core of this platform.The platform hosts over 25,000 market reports ready to be downloaded or viewed online in an HTML format. These reports are a comprehensive analysis of a market and cover everything from market statistics, drivers and restraints to detailed company analyses.5 million+ companies: Detailed financial performance, deals and latest news are all an integral part of Horizon. We have partnered with industry pioneers to provide accurate and latest competitive data.Sign up now for a free trial
Contact Info201 Spear Street 1100,San Francisco, CA, 94105, United [email protected]
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Softonic acquires Appvizer to strengthen its position in B2B software market

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BARCELONA, Spain, July 8, 2024 /PRNewswire/ — Softonic.com, the world’s leading secure software distributor, announces its takeover of Appvizer, which specialises in B2B software recommendations.

Appvizer, which has clients such as Factorial, Monday.com, and Salesforce, attracts 2 million professional users each month. It uses advanced AI algorithms and data analytics to predict the search intentions of professionals even before they begin their search.
The company is also a driving force behind B2B Rocks, the leading European conference dedicated to the SaaS ecosystem which attracts over 3,000 attendees each year.
This strategic agreement benefits both parties. The transaction strengthens Softonic’s existing business while expanding into the growing B2B software advisory market. This move aligns with its long-term strategy to integrate businesses that support its mission to simplify software discovery and distribution. The partnership provides Appvizer with access to Softonic’s ecosystem of over 100 million unique users, allowing it to leverage Softonic’s resources and expertise.
Following a year of solid results, Softonic continues with its growth plan, which is focused on expanding the company’s market share and diversifying into mobile and strategic M&As.
Farouk Merzougui, VP of Finance and Legal at Softonic, said: “Softonic and Appvizer have created a powerful synergy. By leveraging our combined expertise, resources, and reach, together we will empower users worldwide to find the best software to meet their needs and achieve their goals. This adds a new discovery pillar for Softonic’s business and strengthens our position in the software market.”
Colin Lalouette, Managing Director at Appvizer, said: “Our primary focus has always been on delivering an exceptional user experience with Appvizer’s advanced recommendation algorithms and in-depth software reviews. Together with Softonic, we will enhance our platform’s capabilities and provide unparalleled value to our users. This acquisition is not just about expanding our audience; it is about embracing a shared vision for the future of software discovery and recommendation.”
The operation was advised by Wave Partners Ltd, a specialist strategic and M&A advisory firm, and La Tour International, an independent law firm.
About Softonic  
Softonic is a leading technology company specializing in secure software distribution. The firm operates the world’s leading secure software distribution platform Softonic.com. Currently available in 18 languages, the platform categorizes, evaluates, and distributes over 1 million Windows, Android, and Mac programmes and solutions worldwide. Every month, over 75 million people use Softonic.com due to its robust quality control checks, which help users download virus-free software.
Founded in Barcelona in 1997, Softonic is also behind other initiatives, including GHacks, a portal for IT users, and Digital Trends, a technology news site. The company currently employs over 90 people from 22 nationalities.
About Cloud is Mine (Appvizer and B2B Rocks)
Appvizer is a leading SaaS software recommendation platform dedicated to helping businesses find the best software solutions. Founded with the mission to simplify the software selection process, Appvizer combines advanced recommendation algorithms with expert reviews and user feedback to provide personalized and accurate software recommendations. By offering a comprehensive and user-friendly platform, Appvizer empowers businesses to make informed decisions, streamline their operations, and enhance productivity.
Founded in Montpellier in 2013, Cloud is Mine is also behind B2B Rocks: the premier European conference focused on the SaaS ecosystem. Established as a must-attend event for entrepreneurs, investors, and industry experts, B2B Rocks continues to drive the conversation on the latest trends and challenges in the B2B and SaaS landscapes.
 

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