Asia-Pacific artificial tears market is estimated to grow modestly at a CAGR of around 5.5% during the forecast period. The major countries which will contribute in the market are China, India, and Japan. China is the biggest market for artificial tears market. The aging population in the region predominantly in Japan and China is one of the key driving factors in Asia-Pacific. Owing to the aging population, the prevalence of eye diseases is expected to increase, thereby increasing the demand for artificial tears in the region during the forecast period. It is expected that by 2050, approximately 8 in 10 people of the older population globally is expected to reside in less developed regions, as per United Nations Economic and Social Commission for Asia and the Pacific (United Nations ESCAP).
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Asia-Pacific artificial tears market has been primarily driven due to a rapidly growing aging population, and significant growth in cataract and glaucoma surgery in the region. Moreover, rising air pollution in the region is also one of the major factors affecting the ocular surface that leads to irritation and dry-eye disease. Moreover, the rising burden of the ageing population is a major risk factor that increases the chances of having dry-eye disorder among the older population. For instance, according to United Nations ESCAP, in 2016, nearly 12.4% of the population in Asia-Pacific was 60 years and above. However, it is expected to reach over a quarter or 1.3 billion by 2050.
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The companies which are contributing to the growth of Asia-Pacific artificial tears market include Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Services Inc., Carl Zeiss Meditec AG, Nidek Co., Ltd., and Topcon Corp. 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 June 2018, Nidek Co., Ltd. launched the RS-3000 advance 2 optical coherence tomography. This instrument is exclusively designed for comprehensive imaging and analysis of the retina and glaucoma. In May 2018, the company launched LSFG-RetFlow Laser Speckle Flowgraphy. It is an instrument that is used for the measurement of ocular blood that will aid in the treatment of glaucoma and retinocortical vascular disease.
Market Segmentation
Asia-Pacific Artificial Tears Market by Type
- Cellulose Derived Tears
- Glycerin Derived Tears
- Oil-Based Emulsion Tears
Asia-Pacific Artificial Tears Market by Delivery Method
- Artificial Eye Drops
- Ointments
Asia-Pacific Artificial Tears Market by Application
- Dry Eyes Treatment
- Contact Lens Moisture
- Others
Regional Analysis
- China
- Japan
- India
- Rest of Asia-Pacific
Company Profiles
- Carl Zeiss Meditec AG
- HOYA Corp.
- Johnson & Johnson Services Inc.
- Nidek Co., Ltd.
- Otsuka Pharmaceutical Co., Ltd.
- ROHTO Pharmaceutical, Co. Ltd.
- Santen Pharmaceutical Co., Ltd.
- Senju Pharmaceutical Co. Ltd.
- Sunways India Pvt Ltd.
- Topcon Corp.
- Valent Pharmaceuticals International, Inc.
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