Germany artificial tears market is estimated to grow considerably at a CAGR of around 4.2% during the forecast period. As the prevalence of cataract increases across Germany due to the increasing share of the aging population, the demand for artificial tear is expected to increase significantly in order to curb the side effects of such surgeries in Germany. Moreover, according to Eurostat, the share of the old age population in Germany in 2016 was around 21.1%, which is expected to increase to 23.3% by 2030. As the share of the old age population increases, the penetration of eye diseases across the country is also expected to increase, thereby creating opportunities for the growth of the market in the near future.
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Moreover, as the pharmaceutical industry in Germany has also been growing at a fast pace owing to increasing investment by the government to make Germany as one of the key countries for the manufacturing of the chemicals and medicines, it is expected to create opportunities for the growth of the market in the coming years. Moreover, the manufacturers in the country are focusing on manufacturing and creating innovative artificial tears that do not contain water, emulsifiers, phosphates or preservatives, thereby making them more tolerable to eyes. According to the Organisation for Economic Co-operation and Development (OECD), the total number of cataract surgical procedures has increased in Germany. This is expected to be one of the prime reasons which are expected to increase the demand for artificial tears in the country.
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The companies which are contributing to the growth of Germany artificial tears market include Carl Zeiss Meditec AG, Essilor Group, Novartis International AG, Shire PLC, and Ziemer Ophthalmic Systems AG. 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, Novaliq GmbH expanded geographically by making its product NovaTears available in Australia. With this product, the dry eye patients in Australia now have an efficacious treatment option that has significantly improved the signs and symptoms of evaporative dry eye disease.
Market Segmentation
Germany Artificial Tears Market by Type
- Cellulose Derived Tears
- Glycerin Derived Tears
- Oil-Based Emulsion Tears
Germany Artificial Tears Market by Delivery Method
- Artificial Eye Drops
- Ointments
Germany Artificial Tears Market by Application
- Dry Eyes Treatment
- Contact Lens Moisture
- Others
Company Profiles
- Bausch & Lomb Inc.
- Carl Zeiss Meditec AG
- Essilor Group
- Haag-Streit Group
- Novartis International AG
- Shire PLC
- STAAR Surgical Co.
- TopiVert Pharma Ltd.
- VISUfarma B.V.
- Ziemer Ophthalmic Systems AG
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
