Dry Eye Syndrome Treatment Market
Dry Eye Syndrome Treatment Market Forecasts to 2030 - Global Analysis By Product Type (Artificial Tears, Cyclosporine, Lubricants, Corticosteroids, Punctual Bags, Omega Supplements and Other Product Types), Treatment, Dose, Drug, Diagnosis, Medication Type, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Dry Eye Syndrome Market is accounted for $5.1 billion in 2023 and is expected to reach $9.4 billion by 2030 growing at a CAGR of 9.1% during the forecast period. The disease known as dry eye syndrome, or keratoconjunctivitis sicca (KCS), is characterized 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 investor presentation of Bausch + Lomb, a leading eye care company, in U.S. an estimated 38 million people affected with dry eye disease (DED) out of which only 19 million were diagnosed.
Market Dynamics:
Driver:
Growing prevalence of dry eye syndrome
This chronic illness affects people differently as they age. The prevalence is rising in both the young and the elderly population, though, as a result of bad food, increased use of contact lenses, more screen time, and an increase in LASIK procedures. The need for more potent treatment interventions for this illness will rise as its prevalence rises, fueling the expansion of the dry eye syndrome market throughout the projected period.
Restraint:
Low priority given to eye health
Unless there is a severe clinical problem, people seldom consult ophthalmologists on a regular basis. It happens frequently that dry eye symptoms like redness, burning, and other similar ones go undiagnosed. The number of patients who can be treated with these prescription medications as a result of this has decreased. The market expansion potential is therefore limited as a result of the lower acceptance rate of these eye care products.
Opportunity:
Increase in the number of R & D activities
The market for treating dry eye problems is expanding as a consequence of the high R&D investment on the creation of efficient treatment lines. As the country performs more LASIK surgeries, there is a growing demand for treatments for dry eye syndrome. Rising investments in the development of advanced technologies and an increase in the number of emerging markets will also help the market grow during the forecast period.
Threat:
Lack of awareness
The general public knows virtually little about eye health. Many of the symptoms of dry eyes, which may be swiftly cured or relieved with a correct diagnosis and medications, are not well known. Patients rarely visit ophthalmologists unless there is a major clinical problem. Many dry eye sufferers have their redness, irritation, and other symptoms ignored or misdiagnosed, which reduces the number of individuals who may receive prescription pharmaceutical treatment. This is limiting the market from expanding.
Covid-19 Impact:
Numerous investigations conducted during the pandemic discovered that individuals continued to experience 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 cyclosporine segment is expected to be the largest during the forecast period
The cyclosporine segment is expected to be the largest during the forecast period owing to the long-standing use of medications using cyclosporine as a basis. Research has shown its usefulness for treating the signs and symptoms of dry eye illness. Cyclosporine has been reported to decrease T-cell proliferation, an inflammatory response that contributes to disease. Restasis and Cequa are two drugs for treating the symptoms of dry eye that have FDA approval.
The hospital pharmacy segment is expected to have the highest CAGR during the forecast period
The hospital pharmacy segment is expected to have the highest CAGR during the forecast period owing to increasing demand for devices and drugs for the diagnosis and treatment of dry eye disease. Patients with more severe or complicated instances of dry eye disease who needs specialist care are frequently catered to by hospital pharmacists. These patients may benefit from taking prescription drugs like Immunomodulators or anti-inflammatory drugs, which are commonly sold at hospital pharmacies.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. This high market share may be ascribed to a variety of factors, including the presence of significant industry players, an increase in the number of patients suffering from dry eye disease, an expanding elderly population, among others. This region has a relatively high prevalence of dry eye disease, driven by various factors such as an aging population, widespread use of digital devices, and environmental factors.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to improvements in overall healthcare infrastructure, rising prevalence of dry eye disease, and improved access to healthcare. The high prevalence of cardiovascular diseases in countries with high populations, such as China and India, as well as the rising number of market players' strategies and trends, such as product development, product approval, partnership, collaboration, and agreement, are driving the region to expand.
Key players in the market
Some of the key players in Dry Eye Syndrome market include Novartis AG, Eli Lilly and Company, AbbVie, Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Sanofi, Santen Pharmaceutical Co., Ltd., Pfizer Inc ., AFT Pharmaceuticals, Merck & Co., Inc. , Johnson & Johnson Services, Inc., Akorn Operating Company LLC , Bausch + Lomb Corporation, Allergan, OASIS Medical, GlaxoSmithKline plc, Oyster Point Pharma, Inc., Otsuka America Pharmaceutical, Inc., Novaliq GmbH and F. Hoffmann-La Roche Ltd.
Key Developments:
In June 2023, Novaliq GmbH announced that the U.S. Food and Drug Administration (FDA) has approved VEVYE (cyclosporine ophthalmic solution) 0.1% for the treatment of the signs and symptoms of dry eye disease.
In May 2023, Bausch + Lomb Corporation and Novaliq GmbH announced that the U.S. Food and Drug Administration (FDA) has approved MIEBO (perfluorohexyloctane ophthalmic solution; formerly known as NOV03), for the treatment of the signs and symptoms of dry eye disease (DED). MIEBO is the first and only FDA-approved treatment for DED that directly targets tear evaporation.
Product Types Covered:
• Artificial Tears
• Cyclosporine
• Lubricants
• Corticosteroids
• Punctual Bags
• Omega Supplements
• Other Product Types
Treatments Covered:
• Anti-Inflammatory
• Cholinergics
• Anti-Infectives
• Lubricating Agent
• Anti-Allergics
• Other Treatments
Doses Covered:
• Multi Dose
• Unit Dose
Drugs Covered:
• Xiidra
• Restasis
• Cequa
• Eysuvis
• Tyrvaya
• Other Drugs
Diagnosis Covered:
• Tear Osmolarity Test
• Schirmer Test
• Comprehensive Eye Exam
Medication Types Covered:
• Over the counter (OTC) Drug
• Prescription (Rx) Drug
• Other Medication Types
Distribution Channels Covered:
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
End Users Covered:
• Homecare
• Hospitals
• Specialty Clinics
• Other End Users
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 2021, 2022, 2023, 2026, and 2030
- 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 End User Analysis
3.8 Emerging Markets
3.9 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 Treatment Market, By Product Type
5.1 Introduction
5.2 Artificial Tears
5.3 Cyclosporine
5.4 Lubricants
5.5 Corticosteroids
5.6 Punctual Bags
5.7 Omega Supplements
5.8 Other Product Types
6 Global Dry Eye Syndrome Treatment Market, By Treatment
6.1 Introduction
6.2 Anti-Inflammatory
6.3 Cholinergics
6.4 Anti-Infectives
6.5 Lubricating Agent
6.6 Anti-Allergics
6.7 Other Treatments
7 Global Dry Eye Syndrome Treatment Market, By Dose
7.1 Introduction
7.2 Multi Dose
7.3 Unit Dose
8 Global Dry Eye Syndrome Treatment Market, By Drug
8.1 Introduction
8.2 Xiidra
8.3 Restasis
8.4 Cequa
8.5 Eysuvis
8.6 Tyrvaya
8.7 Other Drugs
9 Global Dry Eye Syndrome Treatment Market, By Diagnosis
9.1 Introduction
9.2 Tear Osmolarity Test
9.3 Schirmer Test
9.4 Comprehensive Eye Exam
10 Global Dry Eye Syndrome Treatment Market, By Medication Type
10.1 Introduction
10.2 Over the counter (OTC) Drug
10.3 Prescription (Rx) Drug
10.4 Other Medication Types
11 Global Dry Eye Syndrome Treatment Market, By Distribution Channel
11.1 Introduction
11.2 Hospital Pharmacy
11.3 Retail Pharmacy
11.4 Online Pharmacy
12 Global Dry Eye Syndrome Treatment Market, By End User
12.1 Introduction
12.2 Homecare
12.3 Hospitals
12.4 Specialty Clinics
12.5 Other End Users
13 Global Dry Eye Syndrome Treatment Market, By Geography
13.1 Introduction
13.2 North America
13.2.1 US
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 Italy
13.3.4 France
13.3.5 Spain
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Australia
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.1 Argentina
13.5.2 Brazil
13.5.3 Chile
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.2 UAE
13.6.3 Qatar
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.4 Expansions
14.5 Other Key Strategies
15 Company Profiling
15.1 Novartis AG
15.2 Eli Lilly and Company
15.3 AbbVie, Inc.
15.4 Teva Pharmaceutical Industries Ltd.
15.5 Sun Pharmaceutical Industries Ltd.
15.6 Sanofi
15.7 Santen Pharmaceutical Co., Ltd.
15.8 Pfizer Inc.
15.9 AFT Pharmaceuticals
15.10 Merck & Co., Inc.
15.11 Johnson & Johnson Services, Inc.
15.12 Akorn Operating Company LLC
15.13 Bausch + Lomb Corporation
15.14 Allergan
15.15 OASIS Medical
15.16 GlaxoSmithKline plc
15.17 Oyster Point Pharma, Inc.
15.18 Otsuka America Pharmaceutical, Inc.
15.19 Novaliq GmbH
15.20 F. Hoffmann-La Roche Ltd.
List of Tables
1 Global Dry Eye Syndrome Treatment Market Outlook, By Region (2021-2030) ($MN)
2 Global Dry Eye Syndrome Treatment Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Dry Eye Syndrome Treatment Market Outlook, By Artificial Tears (2021-2030) ($MN)
4 Global Dry Eye Syndrome Treatment Market Outlook, By Cyclosporine (2021-2030) ($MN)
5 Global Dry Eye Syndrome Treatment Market Outlook, By Lubricants (2021-2030) ($MN)
6 Global Dry Eye Syndrome Treatment Market Outlook, By Corticosteroids (2021-2030) ($MN)
7 Global Dry Eye Syndrome Treatment Market Outlook, By Punctual Bags (2021-2030) ($MN)
8 Global Dry Eye Syndrome Treatment Market Outlook, By Omega Supplements (2021-2030) ($MN)
9 Global Dry Eye Syndrome Treatment Market Outlook, By Other Product Types (2021-2030) ($MN)
10 Global Dry Eye Syndrome Treatment Market Outlook, By Treatment (2021-2030) ($MN)
11 Global Dry Eye Syndrome Treatment Market Outlook, By Anti-Inflammatory (2021-2030) ($MN)
12 Global Dry Eye Syndrome Treatment Market Outlook, By Cholinergics (2021-2030) ($MN)
13 Global Dry Eye Syndrome Treatment Market Outlook, By Anti-Infectives (2021-2030) ($MN)
14 Global Dry Eye Syndrome Treatment Market Outlook, By Lubricating Agent (2021-2030) ($MN)
15 Global Dry Eye Syndrome Treatment Market Outlook, By Anti-Allergics (2021-2030) ($MN)
16 Global Dry Eye Syndrome Treatment Market Outlook, By Other Treatments (2021-2030) ($MN)
17 Global Dry Eye Syndrome Treatment Market Outlook, By Dose (2021-2030) ($MN)
18 Global Dry Eye Syndrome Treatment Market Outlook, By Multi Dose (2021-2030) ($MN)
19 Global Dry Eye Syndrome Treatment Market Outlook, By Unit Dose (2021-2030) ($MN)
20 Global Dry Eye Syndrome Treatment Market Outlook, By Drug (2021-2030) ($MN)
21 Global Dry Eye Syndrome Treatment Market Outlook, By Xiidra (2021-2030) ($MN)
22 Global Dry Eye Syndrome Treatment Market Outlook, By Restasis (2021-2030) ($MN)
23 Global Dry Eye Syndrome Treatment Market Outlook, By Cequa (2021-2030) ($MN)
24 Global Dry Eye Syndrome Treatment Market Outlook, By Eysuvis (2021-2030) ($MN)
25 Global Dry Eye Syndrome Treatment Market Outlook, By Tyrvaya (2021-2030) ($MN)
26 Global Dry Eye Syndrome Treatment Market Outlook, By Other Drugs (2021-2030) ($MN)
27 Global Dry Eye Syndrome Treatment Market Outlook, By Diagnosis (2021-2030) ($MN)
28 Global Dry Eye Syndrome Treatment Market Outlook, By Tear Osmolarity Test (2021-2030) ($MN)
29 Global Dry Eye Syndrome Treatment Market Outlook, By Schirmer Test (2021-2030) ($MN)
30 Global Dry Eye Syndrome Treatment Market Outlook, By Comprehensive Eye Exam (2021-2030) ($MN)
31 Global Dry Eye Syndrome Treatment Market Outlook, By Medication Type (2021-2030) ($MN)
32 Global Dry Eye Syndrome Treatment Market Outlook, By Over the counter (OTC) Drug (2021-2030) ($MN)
33 Global Dry Eye Syndrome Treatment Market Outlook, By Prescription (Rx) Drug (2021-2030) ($MN)
34 Global Dry Eye Syndrome Treatment Market Outlook, By Other Medication Types (2021-2030) ($MN)
35 Global Dry Eye Syndrome Treatment Market Outlook, By Distribution Channel (2021-2030) ($MN)
36 Global Dry Eye Syndrome Treatment Market Outlook, By Hospital Pharmacy (2021-2030) ($MN)
37 Global Dry Eye Syndrome Treatment Market Outlook, By Retail Pharmacy (2021-2030) ($MN)
38 Global Dry Eye Syndrome Treatment Market Outlook, By Online Pharmacy (2021-2030) ($MN)
39 Global Dry Eye Syndrome Treatment Market Outlook, By End User (2021-2030) ($MN)
40 Global Dry Eye Syndrome Treatment Market Outlook, By Homecare (2021-2030) ($MN)
41 Global Dry Eye Syndrome Treatment Market Outlook, By Hospitals (2021-2030) ($MN)
42 Global Dry Eye Syndrome Treatment Market Outlook, By Specialty Clinics (2021-2030) ($MN)
43 Global Dry Eye Syndrome Treatment Market Outlook, By Other End Users (2021-2030) ($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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