Dry Eye Syndrome Market
Dry Eye Syndrome Market Forecasts to 2028 - Global Analysis By Product (Anti-inflammatory Products, Artificial Tears, Punctal Plugs, Secretagogues, Oral Omega Supplements and Other Products), Type (Aqueous Deficient Dry Eye Syndrome and Evaporative Dry Eye Syndrome), Dosage Form (Eye Solutions, Eye Drops and Other Dosage Forms), Container Type, Distribution Channel and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $5.53 BN |
|
Projected Year Value (2028) |
US $9.69 BN |
|
CAGR (2022 - 2028) |
9.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Dry Eye Syndrome Market is accounted for $5.53 billion in 2022 and is expected to reach $9.69 billion by 2028 growing at a CAGR of 9.8% during the forecast period. The disorder known as dry eye syndrome, or keratoconjunctivitis sicca (KCS), is characterised by a lack of lubrication or moisture on the eye's surface. It is a widespread condition that can affect anyone at any time. Other dry eye symptoms include photophobia, aching and burning feelings, hurting eyes, red eyes, fatigued eyes, itchy eyes, and other eye-related issues. Watery eyes can also be a sign because the dryness of the eye's surface over-stimulates the creation of the watery component of tears.
According to the BMC Ophthalmology in February 2022, signs of eye dryness were reported in 5–30% of the elderly subjects, and the frequency of dry eye was 8.4% for those less than?60?years, 15% among 70-79?years, and 20% for patients over 80?years.
Market Dynamics:
Driver:
Rising rate of dry eye associated with masks
The rising incidence of Mask-Associated Dry Eye (MADE) is a significant market development. Face masks and face shields were essential in the fight against COVID-19, and the majority of ophthalmologists noticed that as a result of the prolonged usage of face masks and rise in screen time during the COVID-19 pandemic era, more and more patients began to have dry eyes. Additionally, it is anticipated that mask use will continue during the projection period as the prevalence of various infectious illnesses, particularly airborne infections, rises. During the projection period, this current tendency will accelerate the pace of acceptance of these goods and fuel market expansion.
Restraint:
Ocular health isn't given much priority
The general public's perception of ocular health is one of the major issues restricting market growth. Because fewer people regularly see ophthalmologists, fewer people can be treated with these prescription medications. As a result, these eye care products are adopted at a lesser rate, which restricts the market's potential for growth. The prospective patient population's lower priority for ocular disorders such dry eye syndrome may impede the adoption rate of these treatments over the projected period, which would restrict the market's growth.
Opportunity:
Strong R&D investments encourage potential candidates
Dry eye syndrome is becoming more common, which is fuelling the desire for effective therapy choices that improve patient outcomes. The market will expand as these goods become more widely available and more widely adopted. Several market participants are expanding their research efforts and concentrating on obtaining regulatory clearance of innovative medicinal treatments, which will fuel the expansion of the worldwide market during the forecast period.
Threat:
Stringent regulations
However, the usage and adoption of these medications by the general public is constrained by the severe rules attached to them and the long-term treatment plans. The usual time for the treatment to start functioning is a few weeks, but it might take up to six months. Additionally, the medication may have adverse effects that impede market expansion.
Covid-19 Impact
Numerous investigations conducted during the COVID-19 epidemic discovered that COVID-19 patients continued to have dry eye symptoms for several weeks or months after they had recovered. As this is a prevalent ophthalmic disorder, this resulted in a rise in the prevalence of this ailment. Additionally, during the COVID-19, a gradual transition in people's work and study habits from offline to online led to a rise in the prevalence of this disorder. On the other hand, it was discovered that throughout the pandemic, consultations for all non-essential therapeutic interventions had decreased, which led to a fall in the demand for these therapies.
The anti-inflammatory products segment is expected to be the largest during the forecast period
The anti-inflammatory products segment is estimated to have a lucrative growth, due to they are used to moisturise eyes' outer surface and lubricate dry eye, ageing, usage of certain drugs, a medical condition, ocular surgery, and environmental factors including windy or smoky environments can all cause dry eyes. Artificial tears can be purchased over-the-counter. There is no one product that treats dry eyes the best in all cases. Additionally, non-prescription gels and gel implants for artificial tears are offered which drives the growth of the market.
The eye drops segment is expected to have the highest CAGR during the forecast period
The eye drops segment is anticipated to witness the highest CAGR growth during the forecast period, due to their simplicity of use and administration, eye drops have the highest revenue share. This enhanced patient compliance with treatment is a result. However, because the substance is being administered topically, its impact is less long-lasting and its removal is simple. In this market category, product launches are frequent and player migration is considerable.
Region with highest share:
North America is projected to hold the highest market share during the forecast period owing to due to the rising incidence of this condition and the expanding use of medications for its treatment over the projection period. The demand for these treatment interventions is projected to increase as a result of this increased prevalence, boosting regional growth throughout the projection period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the increase in the number of geriatric people with this illness and rise in the disease burden there throughout the course of the projected period. The market participants will have a profitable chance to introduce new goods over the projected period thanks to this includes the rise in elderly patients with this ailment, which is projected to drive market expansion throughout the area.
Key players in the market
Some of the key players profiled in the Dry Eye Syndrome Market include Akorn , AFT Pharmaceuticals, Bausch Health Companies Inc., Mitotech, Johnson & Johnson, Otsuka Pharmaceutical Co. Ltd, Santen Pharmaceutical Co. Ltd, Sun Pharmaceutical Industries Ltd, Prestige Consumer Healthcare, OASIS Medical, Horus Pharma, AbbVie Inc. (Allergan PLC), VISUfarma, Novaliq GmbH, Alcon Inc., Pfizer Inc., Allostera Pharma Inc. Novartis AG and Teva Pharmaceutical Industries Ltd
Key Developments:
In August 2022, Novaliq GmbH submitted New Drug Application (NDA) to the U.S. FDA for the approval for CyclASol (cyclosporine ophthalmic solution), which is a topical antiinflammatory and immunomodulating ophthalmic drug solution, developed for the treatment of dry eye disease.
In September 2021, Bausch Health Companies Inc. collaborated with Novaliq GmbH to develop the investigational drug NOV03 (perfluorohexyloctane), an eye drop used to treat the signs and symptoms of Dry Eye Disease (DED). The pipeline candidate is under phase 3 clinical study.
In April 2021, Alcon launched Systane Hydration Multi-dose preservative free lubricant eye drops in the U.S. market to provide long-lasting relief to patients with dry eyes.
Products Covered:
• Anti-inflammatory Products
• Artificial Tears
• Punctal Plugs
• Secretagogues
• Oral Omega Supplements
• Other Products
Types Covered:
• Aqueous Deficient Dry Eye Syndrome
• Evaporative Dry Eye Syndrome
Dosage Forms Covered:
• Eye Solutions
• Eye Drops
• Capsules & Tablets
• Ointments
• Gels
• Other Dosage Forms
Container Types Covered:
• Unit-Dose Vials
• Tubes
• Bottles
Distribution Channels Covered:
• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies
• Other Distribution Channels
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Dry Eye Syndrome Market, By Product
5.1 Introduction
5.2 Anti-inflammatory Products
5.2.1 Corticosteroids
5.2.2 Cyclosporine
5.2.3 Other Anti-Inflammatory Drugs
5.3 Artificial Tears
5.4 Punctal Plugs
5.4.1 Dissolvable
5.4.2 Removable
5.5 Secretagogues
5.6 Oral Omega Supplements
5.7 Other Products
6 Global Dry Eye Syndrome Market, By Type
6.1 Introduction
6.2 Aqueous Deficient Dry Eye Syndrome
6.3 Evaporative Dry Eye Syndrome
7 Global Dry Eye Syndrome Market, By Dosage Form
7.1 Introduction
7.2 Eye Solutions
7.3 Eye Drops
7.4 Capsules & Tablets
7.5 Ointments
7.6 Gels
7.7 Other Dosage Forms
8 Global Dry Eye Syndrome Market, By Container Type
8.1 Introduction
8.2 Unit-Dose Vials
8.3 Tubes
8.4 Bottles
9 Global Dry Eye Syndrome Market, By Distribution Channel
9.1 Introduction
9.2 Retail Pharmacies
9.3 Online Pharmacies
9.4 Hospital Pharmacies
9.5 Other Distribution Channels
10 Global Dry Eye Syndrome Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Akorn
12.2 AFT Pharmaceuticals
12.3 Bausch Health Companies Inc.
12.4 Mitotech
12.5 Johnson & Johnson
12.6 Otsuka Pharmaceutical Co. Ltd
12.7 Santen Pharmaceutical Co. Ltd
12.8 Sun Pharmaceutical Industries Ltd
12.9 Prestige Consumer Healthcare
12.10 OASIS Medical
12.11 Horus Pharma
12.12 AbbVie Inc. (Allergan PLC)
12.13 VISUfarma
12.14 Novaliq GmbH
12.15 Alcon Inc.
12.16 Pfizer Inc.
12.17 Allostera Pharma Inc.
12.18 Novartis AG
12.19 Teva Pharmaceutical Industries Ltd
List of Tables
1 Global Dry Eye Syndrome Market Outlook, By Region (2020-2028) ($MN)
2 Global Dry Eye Syndrome Market Outlook, By Product (2020-2028) ($MN)
3 Global Dry Eye Syndrome Market Outlook, By Anti-inflammatory Products (2020-2028) ($MN)
4 Global Dry Eye Syndrome Market Outlook, By Corticosteroids (2020-2028) ($MN)
5 Global Dry Eye Syndrome Market Outlook, By Cyclosporine (2020-2028) ($MN)
6 Global Dry Eye Syndrome Market Outlook, By Other Anti-Inflammatory Drugs (2020-2028) ($MN)
7 Global Dry Eye Syndrome Market Outlook, By Artificial Tears (2020-2028) ($MN)
8 Global Dry Eye Syndrome Market Outlook, By Punctal Plugs (2020-2028) ($MN)
9 Global Dry Eye Syndrome Market Outlook, By Dissolvable (2020-2028) ($MN)
10 Global Dry Eye Syndrome Market Outlook, By Removable (2020-2028) ($MN)
11 Global Dry Eye Syndrome Market Outlook, By Secretagogues (2020-2028) ($MN)
12 Global Dry Eye Syndrome Market Outlook, By Oral Omega Supplements (2020-2028) ($MN)
13 Global Dry Eye Syndrome Market Outlook, By Other Products (2020-2028) ($MN)
14 Global Dry Eye Syndrome Market Outlook, By Type (2020-2028) ($MN)
15 Global Dry Eye Syndrome Market Outlook, By Aqueous Deficient Dry Eye Syndrome (2020-2028) ($MN)
16 Global Dry Eye Syndrome Market Outlook, By Evaporative Dry Eye Syndrome (2020-2028) ($MN)
17 Global Dry Eye Syndrome Market Outlook, By Dosage Form (2020-2028) ($MN)
18 Global Dry Eye Syndrome Market Outlook, By Eye Solutions (2020-2028) ($MN)
19 Global Dry Eye Syndrome Market Outlook, By Eye Drops (2020-2028) ($MN)
20 Global Dry Eye Syndrome Market Outlook, By Capsules & Tablets (2020-2028) ($MN)
21 Global Dry Eye Syndrome Market Outlook, By Ointments (2020-2028) ($MN)
22 Global Dry Eye Syndrome Market Outlook, By Gels (2020-2028) ($MN)
23 Global Dry Eye Syndrome Market Outlook, By Other Dosage Forms (2020-2028) ($MN)
24 Global Dry Eye Syndrome Market Outlook, By Container Type (2020-2028) ($MN)
25 Global Dry Eye Syndrome Market Outlook, By Unit-Dose Vials (2020-2028) ($MN)
26 Global Dry Eye Syndrome Market Outlook, By Tubes (2020-2028) ($MN)
27 Global Dry Eye Syndrome Market Outlook, By Bottles (2020-2028) ($MN)
28 Global Dry Eye Syndrome Market Outlook, By Distribution Channel (2020-2028) ($MN)
29 Global Dry Eye Syndrome Market Outlook, By Retail Pharmacies (2020-2028) ($MN)
30 Global Dry Eye Syndrome Market Outlook, By Online Pharmacies (2020-2028) ($MN)
31 Global Dry Eye Syndrome Market Outlook, By Hospital Pharmacies (2020-2028) ($MN)
32 Global Dry Eye Syndrome Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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