The Global Dry Eye Syndrome Market size was reasonably estimated to be approximately USD 2,985.99 Million in 2023 and is poised to generate revenue over USD 4,868.04 Million by the end of 2030, projecting a CAGR of around 6.30% from 2023 to 2030.
Market Overview:
The Dry Eye Syndrome Market refers to the global market for products and services related to the diagnosis, treatment, and management of dry eye syndrome. Dry eye syndrome, also known as dry eye disease or keratoconjunctivitis sicca, is a common eye condition characterized by insufficient tear production, poor tear quality, or a combination of both.
It leads to symptoms such as dryness, discomfort, redness, itching, and blurred vision. There are two primary types of dry eye syndrome: Aqueous-deficient dry eye: This type occurs when the lacrimal glands fail to produce enough tears to keep the eyes adequately lubricated.
It can result from various factors, including autoimmune diseases, hormonal changes), certain medications, and systemic conditions.
Top Key Players for Dry Eye Syndrome Market:
"Novartis AG (Switzerland), AbbVie Inc. (US), Sun Pharmaceutical Industries Ltd.
(India), Santen Pharmaceutical Co. Ltd. (Japan), AFT Pharmaceuticals (New Zealand), Johnson & Johnson Services Inc.
(US), Otsuka Pharmaceutical Co. Ltd. (Japan), OASIS Medical (US), Oyster Point Pharma Inc.
(US), Bausch & Lomb (US), Alcon (Switzerland), Sentiss Pharma Pvt.
Ltd. (India), VISUfarma (Netherlands), I-Med Pharma Inc.(Canada), Allostera Pharma (US), Acadia Pharmaceuticals (US), Valent Pharmaceuticals (US), Takeda Pharmaceutical Company Limited (Ireland), Kala Pharmaceuticals (US), Nicox S.A. (France), and Other Major Players."
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels.
For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Dry Eye Syndrome Market:
Drivers:
Increasing Prevalence of Dry Eye Syndrome
The increasing prevalence of dry eye syndrome (DES) is a significant driver for the dry eye syndrome market. There has been a noticeable rise in the number of people affected by DES, attributed to various factors such as aging populations, increased screen time, environmental conditions, and lifestyle changes.
The expanding population of individuals suffering from DES creates a larger target market for pharmaceutical companies and medical device manufacturers. This drives investments in research and development to develop innovative therapies and products specifically tailored to address the symptoms and underlying causes of dry eye syndrome.
Opportunities:
Development of Novel Therapies
The development of novel therapies presents a significant opportunity in the dry eye syndrome (DES) market. Ongoing research and innovation focused on finding new treatment approaches for DES offer the potential for improved patient outcomes and expanded treatment options.
The current landscape of DES treatment mainly involves the use of artificial tears, lubricants, and prescription medications. However, there is a need for more effective and targeted therapies to address the underlying causes of DES and alleviate its symptoms.
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Segmentation Analysis of the Dry Eye Syndrome Market:
By Product Type, The Artificial Tears segment is Anticipated to Dominate the Market Over the Forecast period. Artificial tears are widely used as a first-line treatment for DES, providing lubrication and moisture to the eyes to alleviate symptoms of dryness, irritation, and discomfort.
Artificial tears are available in various formulations, including preservative-free and those containing additives to improve tear film stability.
By Distribution Channel, the Hospital pharmacies segment held the majority share in 2022. The domination of the segment is attributed to an increasing number of medicines for the treatment of this disease.
These medications can only be used after doing detailed inspections by qualified medical experts at these organizations.
By Product Type
- Artificial Tears
- Anti-inflammatory Drugs
- Punctal Plugs
- Secretagogues
- Others
By End-User
- Hospitals
- Specialty Clinics
- Homecare
- Others
By Distribution Channel
- Hospital Pharmacies
- Independent Pharmacies & Drug Stores
- Online Pharmacies
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Regional Analysis of the Dry Eye Syndrome Market:
The region has a large and rapidly growing population, including a significant aging population. Age is a key risk factor for DES, and the increasing number of elderly individuals in Asia Pacific drives the prevalence of DES in the region.
Also, lifestyle factors and environmental conditions in many countries within the Asia Pacific, such as high levels of air pollution, dry climates, and extensive use of digital devices, contribute to the higher incidence of DES.
By region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In November 2022, Santen Pharmaceutical Co. Ltd. announced the successful launch of DIQUAS® LX Ophthalmic Solution 3% (diquafosol sodium) in Japan for the treatment of the dry eye.
The launch of this new treatment option demonstrates Santen's commitment to addressing the needs of individuals suffering from dry eye, a condition that can cause discomfort and visual disturbances.
In February 2022, Contract sales organization Farmaforce officially partnered with AFT Pharmaceuticals to deliver exceptional representation to healthcare practitioners in Australia. Through this collaboration, Farmaforce strengthened AFT's presence in the Australian market by promoting a range of AFT health products to practitioners.
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