UK artificial tears market is estimated to grow considerably at a CAGR of around 5.0% during the forecast period. The eye health problems in UK have been increasing at a significant rate. According to the Royal National Institute of Blind People, more than two million people in UK live with sight losses. This includes 785,000 people having sight loss due to the uncorrected refractive error, meaning that the vision can be improved by using prescribed spectacles or contact lenses. Other causes of eye loss include age-related muscular degeneration, cataracts, glaucoma and diabetic retinopathy. The National Institute of Blind People, UK further estimates that by the end of 2030, more than 2.7 million people will have sight losses.
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The market is segmented on the basis of type, delivery method, and application. Based on type, the market is divided into cellulose derived tears, glycerin derived tears and oil-based emulsion tears. On the basis of the delivery method, the market is bifurcated into artificial eye drops and ointments. Based on the application, the market is segmented into dry eye treatment, contact lenses moisture, and others. Among applications, the dry eye treatment segment holds a major share in the artificial tears market. This is mainly owing to its wide adoption in the treatment of one of the most common eye-related diseases, dry eye syndrome across the globe.
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One of the key reasons which promote the growth of these surgeries is the increasing aging population in UK. According to Eurostat, the share of the old age population aging between 55-64 years in UK is expected to increase from 18.0% in 2016 to 19.4% in 2020. This is expected to increase the prevalence of eye diseases across the country, thereby promoting the growth of the market in UK. Moreover, according to the National Health Service department, in UK, 1 in every 3 people of age above 65 years is expected to suffer from dry eyes syndrome. As the share of the old age population increases, the prevalence of dry eye syndrome is also expected to increase in the coming years thereby creating opportunities for the growth of the artificial tears market over the forecast period.
The companies which are contributing to the growth of UK 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.
Market Segmentation
UK Artificial Tears Market by Type
- Cellulose Derived Tears
- Glycerin Derived Tears
- Oil-Based Emulsion Tears
UK Artificial Tears Market by Delivery Method
- Artificial Eye Drops
- Ointments
UK 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.)
