Overview and Scope
Dry eye products refer to products that provide relief and alleviate the symptoms of dry eye syndrome, a condition in which the eyes do not produce enough tears, or the tears evaporate too quickly. These products lubricate the eyes, reduce inflammation, and increase moisture to relieve dryness, irritation, and discomfort.
Sizing and Forecast
The dry eye products market size has grown strongly in recent years. It will grow from $7.26 billion in 2023 to $7.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to aging population, environmental factors, consumer awareness, healthcare professional recommendations, ocular surgery proliferation.
The dry eye products market size is expected to see strong growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to continued digital device usage, increased screen time, rising awareness and diagnosis, ophthalmic innovation, telemedicine and remote consultations. Major trends in the forecast period include advanced treatment modalities, preservative-free formulations, smart eye care devices, integration with wearable tech, combined therapy approaches.
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Segmentation & Regional Insights
The dry eye products market covered in this report is segmented –
1) By Product: Antibiotic Drops, Hormone Drops, Artificial Tears, Other Products
2) By Type: Prescription Drugs, Over-The-Counter Drugs
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Specialty Clinics, E-Commerce, Other Distribution Channel
North America was the largest region in the dry eye products market in 2023 and is expected to be the fastest-growing region in the dry eye products market report during the forecast period. The regions covered in the dry eye products 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 rising prevalence of dry eye conditions is expected to propel the growth of the dry eye products market going forward. A dry eye is characterized by insufficient lubrication and moisture on the eye’s surface. A dry eye can cause discomfort, irritation, and vision problems. Dry eye products help manage the symptoms of dry eye conditions. For instance, in March 2022, according to a survey conducted by Eyes on Eyecare with 540 eyecare experts, a US-based eyecare professionals’ company, 35 million Americans will suffer from dry eye disease (DED) in 2022, with the frequency increasing year after year. Furthermore, according to UpToDate Inc., a US-based health information provider, in 2022 meta-analysis of three US studies showed an 8.1% pooled prevalence of dry eye. Therefore, the rising prevalence of dry eye conditions drives the growth of the dry eye products market.
Key Industry Players
Major companies operating in the dry eye products market report are Johnson & Johnson, AbbVie Inc., Novartis AG, Abbott Laboratories, Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co. Ltd., Alcon Inc., Bausch Health Companies Inc, Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Lumenis, AFT Pharmaceuticals Limited, Biotrue Inc., URSAPHARM Arzneimittel GmbH, Sight Sciences, OCuSOFT Inc, Oasis Medical Inc., Novaliq GmbH, Similasan, MiBo Medical Group, TheraTears, Allergan Plc, Systane, Refresh Plus, Optase, Visine inc.
The dry eye products market report table of contents includes:
1. Executive Summary
2. Dry Eye Products Market Characteristics
3. Dry Eye Products Market Trends And Strategies
4. Dry Eye Products Market – Macro Economic Scenario
5. Global Dry Eye Products Market Size and Growth
…..
32. Global Dry Eye Products Market Competitive Benchmarking
33. Global Dry Eye Products Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Dry Eye Products Market
35. Dry Eye Products Market Future Outlook and Potential Analysis
36. Appendix
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