The global dry eye syndrome market is projected to reach USD 5,080.0 Million at a CAGR of 5.31% during the forecast period of 2022-2030
Dry Eye Syndrome Market is expected to reach USD 5,080.0 Million by 2030 at 5.31% CAGR during the forecast period 2022-2030
The symptoms of dry eye syndrome are redness, irritation, discharge and may even lead to blurred vision in severe cases.
Dry eye syndrome is a condition where there is less lubrication in the eyes due to less tear production or due to quick evaporation of tears. This condition may arise due to internal problems such as meibomian gland dysfunction, vitamin deficiency, surgery, use of contact lens, or due to external agents like medications and exposure to dust and smoke. The dry eye syndrome market size is expected to grow at a Compound Annual Growth Rate CAGR of 6.6 % over the forecast period.
Rapid advancements in ophthalmology and the development of affordable drugs are bringing positive impacts on the market. Moreover, increasing awareness among commoners regarding the treatment of minor eye problems will further increase the market value. The dry eye syndrome market value is estimated to be worth USD 8.1 billion by the end of the current forecast period in 2028.
Covid 19 Analysis
Covid-19 had a negative impact on the dry eye syndrome market. The rapid surge in coronavirus cases made healthcare workers shift attention to covid management thereby putting other cases in shadow. The restrictions in the movement of goods and people caused a shortage of eye care medicines in the market. Moreover, it also led to a downfall in the number of patients visiting hospitals and clinics for treatment. However, there was a boom in the growth of online medical counseling and online pharmaceutical sales. The market is showing rapid recovery post covid relaxations.
The increasing prevalence of eye disorders owing to a lifestyle change is the major factor driving the growth of the global dry eye syndrome market. Moreover, the rise in the geriatric population and increasing incidence of lifestyle diseases like diabetes, obesity, hypertension, etc. is also fueling the market growth.
There has been a considerable rise in awareness about the dry eye problem and the need for its treatment. This along with advancements in treatment procedures is likely to boost the market growth. Moreover, increasing government spending and private investments in the development of the healthcare sector are bringing better prospects for the global dry eye syndrome market.
The delay in the drug approval process and lack of skilled ophthalmologists are the major factors restraining the growth of the global dry eye syndrome market. Stringent drug approval mechanisms of testing bodies lead to delay in the launch of new drugs in the market. The lack of skilled medical personnel in primary healthcare centers in underdeveloped nations leads to ignorance of symptoms of dry eye problems by patients thereby hampering the growth of the dry eye syndrome market.
Dry eye syndrome is a condition where there is a lack of tears or lubrication in the eyes. It occurs mainly when the eye does not produce sufficient tears or when the tears evaporate too quickly from the eyes. It is also known as keratoconjunctivitis sicca (KCS) and is prevalent among 5-30 % of the global population to some degree.
There may be various underlying causes for this problem. Some of the major causes are due to use of contact lenses, meibomian gland dysfunction, pregnancy, Sjögren syndrome, vitamin A deficiency, omega-3 fatty acid deficiency, LASIK eye surgery. Moreover, the use of medications such as antihistamines, some blood pressure medication, hormone replacement therapy, and antidepressants may also lead to the problem.
Treatment of this problem depends upon the underlying cause. The major treatment categories are avoidance of exacerbating factors, tear stimulation and supplementation, increasing tear retention, and eyelid cleansing and treatment of eye inflammation.
The specific objectives of this market report on the global dry eye syndrome market are given below:
The evaporative dry eye syndrome segment holds the largest Market share by disease type. It accounts for about 80 % of the dry eye syndrome problem. It occurs due to malfunction of the meibomian gland in eyelids. It is unable to form a thin lipid layer to prevent the tears from evaporating.
Lubricant Eye Drops
Anti-inflammatory drugs account for the largest market share. These drugs are potent in treating dry eyes and reduce inflammation due to rubbing or allergens.
By Delivery System
The liquid segment accounted for the largest dry eye syndrome market share. Liquid drops are easy to apply and thereby are in high demand. They help to keep the eye moist and in the quick remedy of dry eye symptoms such as burning, itching, etc.
By Distribution Channel
Retail pharmacies are the largest segment by distribution channel of the Global dry eye syndrome market. The vast network of retail pharmacies makes them close to patient customers. Moreover, easy access and buying procedures are growth-promoting factors. However, the online pharmacies segment is witnessing a higher growth rate owing to the increasing penetration of the internet.
Hospitals are the dominating end-user segment of the global dry eye syndrome market. It is a primary place of treatment for most of the global population. Therefore, it accounts for the huge demand for eyecare medicines and devices.
The different regional markets for the global dry eye syndrome market are:
The American region holds the largest market share of the global dry eye syndrome market. The rising prevalence of eye diseases and the growing geriatric population are the major growth-boosting factors in this region. Moreover, huge government funding towards the development of medical specialty centers like eye centers is driving the market growth in this region.
Asia-Pacific is the fastest-growing regional segment. The rapid development of healthcare infrastructure and rising awareness about the treatment of eye problems are key growth drivers in this region.
The major global companies playing a key role in the dry eye syndrome market are:
This report will be beneficial for every stakeholder of the dry eye syndrome market such as:
This report provides an in-depth analysis of the dry eye syndrome market in terms of current value and future forecast. We have also identified the problems and prospects of the given market.
Moreover, technological analysis of the product will greatly help to make decisions about investment in the product. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the dry eye syndrome market.
|Market Size||USD 5,080.0 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Allergan (Republic of Ireland), Novartis AG (Switzerland), Otsuka Pharmaceutical Co. Ltd. (Japan), Valent Pharmaceuticals (Canada), Johnson & Johnson Vision (U.S.), Acadia Pharmaceutical (U.S.), Allostera Pharma (Canada), I-Med Pharma Inc. (Canada), Santen Pharmaceuticals Co. Ltd., (Japan), AFT pharmaceuticals (New Zealand), Novaliq GmBh (Germany), Auven therapeutics (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||
The outlook of the global dry eye syndrome market looks flourishingly growing.
The global dry eye syndrome market is projected to grow at approximately 5.31% CAGR during forecast period (2022-2030).
Supportive government initiatives and funding.
North America holds the largest share in the global dry eye syndrome market followed by Europe and Asia Pacific, respectively.
SORIN Group (Europe), LEPU MEDICAL (UK), MEDICO S.p.A. (Europe), Abbott. (US), Medtronic (US), Boston Scientific Corporation (US), OSCOR Inc. (US), and BIOTRONIK (Germany), are some of the major players operating in the dry eye syndrome market.