The global dry eye syndrome treatment market size was valued at USD 4.70 billion in 2022. It is projected to reach USD 7.83 billion by 2031, growing at a CAGR of 5.84% during the forecast period (2023–2031).
A public health issue, dry eye disease (DED) causes ocular discomfort, fatigue, and visual disturbances that reduce the quality of life. One of the most prevalent and unpleasant ocular surface conditions (OSDs). The term "dry eye syndrome" refers to the lack of lubrication or moisture on the surface of the infected person's eyes, which is referred to medically as "keratoconjunctivitis sicca.” It is a widespread illness that can affect almost anyone. Aching and burning sensations, sore eyes, red eyes, tired eyes, itchy eyes, photophobia, etc., are just a few of dry eye symptoms. It happens when the amount of moisture/lubrication provided by tears is insufficient or when there is insufficient tear production.
The prevalence of dry eyes among people is also influenced by several illnesses, including diabetes, thyroid issues, Sjogren's syndrome, lupus, scleroderma, rheumatoid arthritis, etc. It results in ongoing changes in the blood composition of the patient, which negatively affects the tear glands and increases the prevalence of dry eyes. The market for dry eye syndrome treatments and eyecare products will see opportunities for growth due to the rapidly rising number of cases of dry eye disease, and the rising use of various treatments, such as artificial tears and dry eye treatment drops, for treating multiple symptoms.
The increase in healthcare spending, which helps to improve its infrastructure, is a significant factor influencing the growth rate of the dry eye syndrome treatment market. The market for dry eye syndrome will also grow due to initiatives by public and private organizations to raise awareness. The market for standard treatments will also grow due to high disposable income and rising demand for dry eye syndrome treatments. During the forecast period, market dynamics factors include changing dietary patterns and sedentary lifestyles. Along with this, the market's growth rate will be accelerated by the growing elderly population and rising public awareness of the dry eye condition.
The number of older adults is expected to rise, and this population is more likely to experience eye-related conditions like dry eye. Due to increased visual display terminal (VDT) use during the COVID-19 lockout, dry eye disease (DED) patients and healthy participants up to 60 experienced worsening dry-eye symptoms. Additionally, a change in the study's findings revealed that younger people had more severe dry-eye issues than older respondents, especially during the lockdown. As a result, COVID-19 is anticipated to have a long-term effect on the dry eye disease market, which is anticipated to spur growth over the forecast period. This factor may drive the market in the future.
The use and adoption of available drugs for treatment and long-term treatment plans are constrained by strict regulations. The average time for the treatment to start working is a few weeks, but it could take up to six months. Additionally, the medication may have side effects that impede market expansion. The market for dry eye syndrome will face difficulties due to a shortage of highly qualified workers and a lack of healthcare infrastructure in developing nations. Additionally, strict drug approval procedures of testing bodies that delay the introduction of new medications will restrain and impede the market's growth rate.
A rise in the number of R&D activities is another factor driving the market's expansion. This will present good chances for market expansion for dry eye syndrome. Additionally, increasing drug launches and approvals will speed up the market's expansion. Additionally, growing investments in the creation of cutting-edge technologies and an increase in emerging markets will create more favorable conditions for expanding the dry eye syndrome market over the forecast period. Due to the increased use of electronic devices like cell phones, tablets, and laptops, there has been a sharp increase in various eye diseases in recent years. Due to this, there is a huge demand for treatments for dry eyes, which is likely to continue.
The market is segmented by product, dosage form, disease type, and distribution channel.
Based on the product, the global market is bifurcated into cyclosporine, artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, and other products.
The cyclosporine segment is the highest contributor to the market and is expected to grow at a CAGR of 5.12% during the forecast period. Because cyclosporine-based drugs have been used for a long time, the cyclosporine category had the highest revenue share (almost 60.0%). 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.
Based on dosage form, the global market is bifurcated into liquid drops, gel, liquid wipes, and eye ointment.
The liquid drops segment is the highest contributor to the market and is expected to grow at a CAGR of 6.1% during the forecast period. Due to their simplicity of use and administration, eye drops have the highest revenue share at over 35.0%, which increases patient compliance with treatment. However, because the substance is being administered topically, its impact is less long-lasting, and its removal is simple. Product launches are frequent in this market, and player migration is high. To give patients who use eye drops more than four times a day long-lasting relief, Alcon has introduced Systane eye drops with hydro-boost technology.
Based on disease type, the global market is bifurcated into evaporative and aqueous deficient.
The evaporative segment is the highest contributor to the market and is expected to grow at a CAGR of 5.31% during the forecast period. Due to the high incidence of the condition, which is linked to increased screen time, decreased blinking, and decreased tear production due to aging, evaporative dry eye syndrome dominated the market with a revenue share of over 80.0%. Access to treatment is made simpler by the widespread availability of medicines like EvoTears, designed to treat the evaporative form of the disease. The lack of tear production by the lacrimal glands leads to aqueous dry eye syndrome.
Based on the distribution channel, the global market is bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment is the highest contributor to the market and is expected to grow at a CAGR of 5.95% during the forecast period. The category with the most significant revenue share—more than 45.0% was retail pharmacies. This is explained by how convenient it is to reach retail pharmacies. Additionally, the availability of pharmacists in some locations to help with dosing, customer service, and consultations helps the category acquire a competitive edge in the market. Since most drugs are administered following a careful eye examination by an ophthalmologist, hospital pharmacies are preferred.
The global dry eye syndrome treatment market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.
North America is the most significant shareholder in the global dry eye syndrome treatment market and is expected to grow at a CAGR of 4.7% during the forecast period. The U.S. and Canada are included in the analysis of the dry eye syndrome treatment market in North America. The market for dry eye syndrome medications is expanding due to the development of these medications and the rising number of new drugs and devices being approved in the United States. The American Journal of Ophthalmology predicted that 6.8% of adult Americans in the country had dry eye syndrome disease. The prevalence increased by 2.7% between 18 and 34 and was higher in women (8.8%) than in men (4.5%). The market in this area is expected to be driven by a large target population, better access to healthcare, and a high rate of treatment adoption. Additionally, the market's lucrativeness draws players to this area.
Asia Pacific is expected to grow at a CAGR of 7.1% during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the analysis of the Asia-Pacific dry eye syndrome treatment market. It results from expanding access to healthcare, rising rates of dry eye disease, and general improvements in the healthcare infrastructure. Additionally, it is anticipated that the market will be driven by critical regional players like Otsuka Pharmaceuticals Co. Ltd. and Santen Pharmaceuticals. The country section of the report also lists specific market-impacting variables and domestic market regulation changes that impact the market's present and future trends. Data points like technical trends, porter's five forces analysis, case studies, and upstream and downstream value chain analyses are just a few indicators used to forecast the market scenario for specific nations.
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