Overview and Scope
Dry eye medication refers to the drugs or medication that is used to treat dry eye by increasing your eye moisture. A multifactorial condition of the tears and ocular surface known as dry eye causes symptoms such as pain, blurred vision, and tear film instability, as well as the possibility of ocular surface injury.
Sizing and Forecast
The dry eye medication market size has grown rapidly in recent years. It will grow from $9.74 billion in 2023 to $10.93 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to aging population, rising number of contact lens users, increase in disposable income, increase in number of treatment options, increase in number of allergies, rise in consumption of unhealthy or improper diets, and prevalence of diabetes mellitus.
The dry eye medication market size is expected to see rapid growth in the next few years. It will grow to $16.93 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to rising laser surgeries, rising screen time, busy lifestyles, the increasing burden of diabetes, increase in prevalence of dry eye disease, promising pipeline for dry eye disease, and side effects of other medications . Major trends in the forecast period include developing preservative-free eye drops, investing in research and development of new and advanced drugs, developing innovative drugs to survive in the market, developing non-steroidal anti-inflammatory ophthalmic drugs for the treatment of dry-eye syndrome, focusing on incorporating modern techniques, and developing combination therapies for the treatment of dry eye diseases.
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Segmentation & Regional Insights
The dry eye medication market covered in this report is segmented –
1) By Type Of Product: Aqueous, Evaporative, Aqueous and Evaporative
2) By Delivery System: Liquid, Gel, Ointment, Other Delivery System
3) By Prescription Type: OTC Drugs, Prescription Drugs
4) By End-User: Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies
North America was the largest region in the dry eye medication market in 2023. Middle East is expected to be the fastest-growing region in the global dry eye medication market share during the forecast period. The regions covered in the dry eye medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased number of cases of dry eye disease results in an increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one’s eyes to screens for a long duration increase the occurrence of the dry eye more likely. For example, a survey conducted by the American Academy of Ophthalmology reported that in the USA, nearly 3.2 million women and 1.68 million men, over the age of 50 were affected by dry eye syndrome. Similarly, a study conducted by the Indian Journal of Ophthalmology indicated a 32% prevalence of dry eye disease in the Northern part of India. the rising prevalence of the disease would increase the demand for its treatment and ultimately facilitate the growth of the dry eye medication market.
Key Industry Players
Major companies operating in the dry eye medication market report are Allergan PLC, Alcon Inc., Bausch Health Companies Inc., Novartis AG, Otsuka Holdings Co. Ltd., Santen Pharmaceutical Co., Ltd., Sentiss Pharma Pvt. Ltd., OASIS Medical, Inc., VISUfarma B.V., Sun Pharmaceutical Industries Limited, Bayer AG, Pfizer, Johnson & Johnson, Daiichi Sankyo, Zhaoke Ophthalmology Pharmaceutical, Shanghai Pharmaceutical, ERC Labs, Vision gain, Medicom Health care, Implandata ophthalmic products GmbH, The Geuder Group, Novamedika, Aflofarm Farmacja Polska, VUAB Pharma Inc., Endo International PLC, Aurinia Pharmaceuticals Inc., Herzig Eye Institute, Thomas Eye Group, Alimera Sciences, Eyegate, Neurotech, Opthotech, Eyepoint pharmaceuticals, ReGenTree, LLC, Regenerx Biopharmaceuticals Inc., shire, Gama Vision, Biolab Pharma, Mitotech, Novaliq GmbH, Horus Pharma, Prestige Consumer Healthcare Inc., Bausch & Lomb Incorporated, Azura Ophthamics Ltd., Similasan, Hoya Corporation, Adcock Ingram.
The dry eye medication market report table of contents includes:
1. Executive Summary
2. Dry Eye Medication Market Characteristics
3. Dry Eye Medication Market Trends And Strategies
4. Dry Eye Medication Market – Macro Economic Scenario
5. Global Dry Eye Medication Market Size and Growth
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31. Dry Eye Medication Market Other Major And Innovative Companies
32. Global Dry Eye Medication Market Competitive Benchmarking
33. Global Dry Eye Medication Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Dry Eye Medication Market
35. Dry Eye Medication Market Future Outlook and Potential Analysis
36.Appendix
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