Covina, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Dry Eye Disease has become a common condition which occurs when eye tears aren’t able to provide an adequate lubrication for eyes and occurs if an eye do not produce enough tears. Stringy mucus in eyes, burning or scratchy sensation, blurred vision, and others are the common symptoms of dry eye disease.
Growing geriatric population across globe has become major contribution in market growth. Further, rising adoption of unhealthy lifestyle and prolonged use of laptops, mobiles, and reduction in blinking rate of an individual across globe has contributed in Dry Eye Disease market growth. Furthermore, increased demand for anti-inflammatory drugs and presence of major players with growing market consolidation activities is likely to propel Dry Eye Disease market growth.
Key Highlights:
- In May 2023, the U.S. FDA (Food and Drug Administration) has approved new ‘Perfluorohexyloctane Ophthalmic’ solution for dry eye disease. The new launched product has been marked as first and only FDA-approved treatment for dry eye disorder that targets directly the tear evaporation.
Analyst View:
The advancement in product used for treating dry eye disorders and improved healthcare infrastructure has facilitated the demand for market growth. Furthermore, rising geriatric population coupled with developing eye-related diseases is anticipated to increase the demand for Dry Eye Disease market growth.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Disease Type - Aqueous Deficient Dry Eye Syndrome, Evaporative Dry Eye Syndrome By Product - Topical Corticosteroids, Cyclosporine, Oral Omega Supplements, Punctual Plugs, and Artificial Tears By Distribution Channel- Hospital Pharmacy, Online Pharmacy, and Retail Pharmacy |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Key players:
- AbbVie Inc.
- Johnson & Johnson Services Inc.
- Otsuka Pharmaceuticals Co. Ltd.
- Novartis AG
- AFT Pharmaceuticals
- OASIS Medical
- Santen Pharmaceutical Co. Ltd.
- Sun Pharmaceutical Industries Ltd.
- Takeda Pharmaceutical Company Ltd.
- Bausch & Lomb
Dry Eye Disease Market growth:
- Increasing Prevalence: Dry eye disease is a common eye condition affecting millions of people worldwide. The growing aging population and lifestyle factors (such as increased screen time) have led to a rise in the number of individuals experiencing dry eye symptoms.
- Advancements in Diagnosis: Improved diagnostic tools and techniques have enhanced the accuracy of dry eye disease diagnosis. This has led to more people seeking treatment for their symptoms.
- Therapeutic Innovation: Research and development efforts were underway to create new and more effective treatments for dry eye disease. These included innovative eye drops, gels, ointments, and medical devices aimed at relieving symptoms and improving patient outcomes.
- Patient Awareness and Education: There was a growing awareness among patients and healthcare professionals about dry eye disease. This awareness encouraged individuals to seek medical advice and treatment earlier in the course of the disease.
- Evolving Regulatory Landscape: Regulatory agencies were paying more attention to dry eye disease, potentially speeding up the approval and commercialization of new treatments.
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Dry Eye Disease Market future outlook:
- Rapid Technological Advancements: Continued advancements in diagnostic tools and therapeutic options were expected. The development of more precise diagnostic techniques and innovative treatments could lead to better outcomes for patients.
- Personalized Medicine: Tailoring dry eye disease treatments to individual patient needs may become more prevalent. This could involve identifying specific underlying causes and prescribing treatments accordingly.
- Biopharmaceuticals and Novel Therapies: The development of biopharmaceuticals and novel therapies, including gene therapies and regenerative medicine approaches, may open up new avenues for treatment.
- Digital Health Solutions: The integration of digital health technologies and wearable devices could assist in monitoring and managing dry eye disease symptoms. Telehealth and telemedicine services were already gaining traction and could continue to do so.
- Global Market Expansion: The dry eye disease market may continue to expand globally, with companies exploring opportunities in emerging markets and collaborating with local healthcare providers.
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