The growing prevalence of dry eye syndrome is expected to drive the growth of the global dry eye syndrome treatment market in the forecast period,2024-2028.
According to TechSci Research report, “Dry Eye Syndrome Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global dry eye syndrome treatment market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing prevalence of dry eye diseases along with the growing adoption of different treatments like dry eye treatment drops and artificial tears for relieving different symptoms across the globe. Similarly, the growing popularity of excimer and femtosecond ophthalmic laser treatment for dry eye syndrome will further boost the market growth over the years. Also, growing awareness regarding the diagnosis and treatment of dry eye disease such as laser treatment among populations across the globe will further propel the market growth. Additionally, growing demand for better treatment outcomes and an increase in living standards especially in the developed countries in North America and Europe is expected to create lucrative opportunities for market growth in coming years. Besides, increasing research and development activities in dry eye disease is further expected to support the market growth. Similarly, rising the number of eye care centers across the globe and rising penetration of OTC eyedrop in the developing region will drive the market growth over the years.
However, due to lack of awareness regarding dry eye disease and their treatment, people do not visit ophthalmologists regularly unless there is any symptomatic condition. This can slow down the growth of global dry eye syndrome treatment market in the forecast period. Similarly, high risks and complications associated with dry eye treatment may hamper the dry eye syndrome treatment market growth during the forecast period. Also, poor reimbursement scenario and lack of insurance coverage for dry eye disease in emerging countries can further restrict the growth of global dry eye syndrome treatment market.
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The global dry eye syndrome treatment market can be segmented by indication, product type, dosage form, type, distribution channel and by region.
Based on product type, the global dry eye syndrome treatment market can be segmented into Cyclosporine, Topical Corticosteroids, Artificial Tears, Punctal Plugs, and Others. The cyclosporine segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the long-standing use of medications effect for dry eye disease symptoms and used as a clinical indicator. Similarly, the easy availability of new products such as EvoTears is expected to create significant growth during the forecast period.
Based on dosage form, the market can be segmented into Gels, Eye Solutions, Capsules & Tablets, Eye Drops, and Ointments. The eye drops segment is expected to dominate during the forecast period on account of increasing usage and administration which leads to patient compliance with the treatment. Similarly, the launch of products and investments by major players also drive market growth over the years.
Major companies operating in the global dry eye syndrome treatment market are:
- Johnson & Johnson
- AbbVie Inc.
- Bausch Health Companies Inc.
- Novartis AG
- Sun Pharmaceuticals Industries Limited
- Santen Pharmaceutical Co., Ltd.
- Otsuka Pharmaceutical Co., Ltd.
- Oyster Point Pharma, Inc.
- Alcon Inc.
- GlaxoSmithKline plc.
For instance, in April 2021, Alcon announced the launch of its Systane eye drops with hydroboost technology for providing long-lasting relief to patients that apply eye drops over 4 times a day.
For instance, in December 2021, NTC Srl and I-MED announced a partnership for making 0.4% sodium hyaluronate ointment available in the U.S. market.
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“North America is expected to dominate in the global dry eye syndrome treatment market on account due to the increasing geriatric population are susceptible to different types of eye diseases, increasing development of better healthcare for the treatment of dry eye diseases, and rising adoption of new treatment across the region. Furthermore, the increasing prevalence of dry eye disease and easy access to healthcare are further contributing to the demand for the dry eye syndrome treatment market. Besides, the availability of skilled professionals and early adoption of advanced treatments for the treatment of different dry eye diseases in the region is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Dry Eye Syndrome Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Indication (Evaporative Dry Eye Syndrome v/s Aqueous Deficient Dry Eye Syndrome), By Product Type (Cyclosporine, Topical Corticosteroids, Artificial Tears, Punctal Plugs, Others), By Dosage Form (Gels, Eye Solutions, Capsules & Tablets, Eye Drops, Ointments), By Type (Prescription v/s Over The Counter), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region and Competition”, has evaluated the future growth potential of global dry eye syndrome treatment market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global dry eye syndrome treatment market.
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