South and Central America Artificial Tears Market
Artificial tears are lubricant eye drops used for treating the irritation and dryness associated with the deficiency in tear production in dry eyes or keratoconjunctivitis sicca. These are also used for moistening contact lenses and during eye check-ups and examinations. The rapidly growing aging population is primarily contributing to the growth of the artificial tears market. Aging makes people more susceptible to eye conditions such as dry eye, resulting in high demand for artificial tears. Also, increasing number of eye surgeries and post eye surgery management is further boosting the growth of the artificial tears market.
Thus, a growing older population is expected to create a significant demand for artificial tears in the coming years, which is further anticipated to drive the artificial tears market.
The COVID-19 pandemic presented numerous impacts on health systems, social life, and human behavior worldwide. It remains a challenge for local communities. In Brazil, a decrease in the number of treated patients was observed in the Artificial Tears department despite efforts to keep the treatment routine as normal as possible. Nevertheless, a higher decrease in the total number of sessions was detected, indicating a smaller number of fractions/patients overall. According to International Labour Organization, one such survey for Brazil (XP Investments) estimates that 35% of workers are working from home. According to International Labour Organization, With the COVID-19 pandemic, the percentage of workers teleworking has risen tremendously, as companies have taken steps to facilitate the practice in an effort to keep their operations ongoing. A March 25th survey of 250 large firms in Argentina found, for example, that 93% had adopted teleworking as a policy in response to the COVID-19 pandemic. This triggers incidence of dry eye syndrome (DES). These factors had a potential impact on the South and Central America artificial tears market.
Strategic insights for the South and Central America Artificial Tears provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 94.0 Million |
| Market Size by 2028 | US$ 130.3 Million |
| Global CAGR (2021 - 2028) | 4.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South and Central America Artificial Tears refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Artificial tears market in South and Central America is expected to grow from US$ 94.0 million in 2021 to US$ 130.3 million by 2028; it is estimated to grow at a CAGR of 4.8% 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.
In terms of type, the glycerin derived tears segment accounted for the largest share of the South and Central America artificial tears market in 2020. In terms of delivery mode, the eye drops segment accounted for the largest share of the South and Central America artificial tears market in 2020. In terms of application, the dry eyes treatment segment held a larger market share of the artificial tears market in 2020.
A few major primary and secondary sources referred to for preparing this report on the Artificial tears market in South and Central America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Johnson and Johnson Services, Inc.
By Type
By Delivery Mode
By Application
By Country
The South and Central America Artificial Tears Market is valued at US$ 94.0 Million in 2021, it is projected to reach US$ 130.3 Million by 2028.
As per our report South and Central America Artificial Tears Market, the market size is valued at US$ 94.0 Million in 2021, projecting it to reach US$ 130.3 Million by 2028. This translates to a CAGR of approximately 4.8% during the forecast period.
The South and Central America Artificial Tears Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Artificial Tears Market report:
The South and Central America Artificial Tears Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Artificial Tears Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Artificial Tears Market value chain can benefit from the information contained in a comprehensive market report.
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