Reports and Data has recently published a new report on the Global Artificial Tears Market that offers key insights into the current and emerging trends, key companies and market size and market share on a global and regional level. Despite weak development in Western economies as a whole, MA (mergers and acquisitions) activity in the healthcare sector has increased dramatically. Not only is there a strong growth in pharmaceutical companies, but also considerable growth in economies of emerging markets.
These findings are detailed in Reports and Data Global Artificial Tears Market Report, which indicates that the medicines industry has a promising future. According to RnD, the global Artificial Tears Market is expected to reach USD XX billion in 2027 at a CAGR of XX% during the forecast period of 2022-2027. Market consolidation in Western Europe and North America is to blame for the growth in deal valuations. North America led the way in terms of acquisitions last year, accounting for over half of all outbound deals.
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Now that the tide is turning, more worldwide growth in the pharmaceutical business is likely to come from emerging nations, particularly China, where health systems are rapidly developing. Despite the fact that only a few acquisitions were announced or completed, tremendous growth is projected in the future years.
Significantly, China's adoption of health insurance and broader healthcare reforms last year effectively created a market of one billion people overnight. However, generic medications account for 76% of the Chinese market, making it difficult for European and American multinationals to capitalize on market prospects.
In the past, developed countries were hesitant to trade in emerging markets, with only a few multinational pharmaceutical companies making acquisitions in Latin America, India, or China. However, with tremendous development potential in the East, major businesses in the pharmaceutical industry should explore acquisitions in China aggressively to gain a presence.
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The entry of startups and regional players in the recent years and their increasing focus on drug development and research and advancements in therapeutics and medical devices are also expected to contribute to the growth of the market.
Among the product types, the demand for personalized medicine for cancer is expected to dominate other types over the forecast period attributing to growing demand for customized therapies to treat various types of cancer and growing incidence of cancer globally.
The global artificial tears market witnesses an intense level of competition due to the presence of a large number of market players, including Allergan plc, Ocusoft Inc., Alcon Inc., Novartis International AG, Johnson Johnson, Abbott Medical Optics Inc., Santen Pharmaceuticals, Bausch Lomb, McNEIL-PPC, Inc., Carl Zeiss AG, Advanced Vision Research, Inc., Akron Inc., Novartis International AG, and Aura lab Ltd.
Global Artificial Tears Market: Geographical Analysis
The global artificial tears market is highly consolidated across some of the most lucrative regions of the world, including:
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Italy
- Germany
- Spain
- Asia Pacific
- India
- China
- Japan
- Australia
- New Zealand
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
Global Artificial Tears Market Segmentation
Based on Product Type:
- Cellulose-derived Tears
- Glycerin-derived Tears
- Oil-based Emulsion Tears
- Polyethylene Glycol
- Propylene Glycol-based Tears
Based on Delivery Method:
- Eye Drops
- Ointments
Based on Application:
- Dry Eyes Treatment
- Contact Lenses Moisture
Growing advancements in medical therapies to drive market growth
The pharmaceutical and healthcare industry is driven by rapid advancements in customized therapies, medical devices, and surgical procedures. Integration of advanced technologies to accelerate research and development and manufacturing and production activities are some other factors driving market growth.
High prices of certain drugs might affect revenue growth
Launch of high-priced drugs to treat rare and chronic diseases and lesser affordability in middle- and low-income regions might limit their adoption and restrain market growth going ahead. In addition, less knowledge and awareness regarding advanced treatment approaches and lower adoption of advanced technologies might further hamper market growth over the forecast period.
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