Pune, India, Jan. 07, 2021 (GLOBE NEWSWIRE) -- The global dry eye syndrome market size is expected to reach USD 6.54 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period. The increasing prevalence of chronic eye disorders and diseases will spur demand for eye treatment, which, in turn, will aid the expansion of the market. The global market size was USD 5.22 billion in 2019.
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Rising Awareness About Dry Eye Treatment to Incite Development
The increasing incidence of dry eye syndrome owing to the surging geriatric population will bolster the healthy growth of the market. The most common dry eye is associated with the chronic ophthalmic disorder, which has a high prevalence rate in old individuals compared to adults. The prevalence can be as high as 75.0% for individuals over the age of 40.
The growing R&D investments by pharmaceutical companies in new therapeutics can have a tremendous impact on the global market. Moreover, the product launches with high efficacies due to increasing awareness and incidence can further improve the prospects of the market. The growing demand for better treatment outcomes and quality of life for patients can push the growth of the market.
Weakened Dry Eye Drug Sales to Dampen Market Growth Amid COVID-19
The market players experienced a strong decline in dry eye drug sales. For instance, Novartis AG witnessed a decline of -31.4% in the revenue of its dry eye product Xiidra. The drug generated a revenue of US$ 104.0 Mn in a quarter second of 2019 whereas it generated US$ 79 Mn in the second quarter of 2020. The significant decline in the number of new eye examinations has further hindered the sales of such products. Moreover, lockdown in several countries has restricted the transportation and distribution of dry eye drugs, which, in turn, restrict the growth of the market amid coronavirus
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Increasing Eye Treatment Procedure to Aid Expansion in North America
North America is expected to hold the largest share in the global dry eye syndrome treatment market during the forecast period. The presence of key manufacturers in the U.S. coupled with high awareness and incidence of dry eye syndrome in the U.S. and Canada are factors estimated to boost the expansion of the dry market in North America.
Europe is expected to expand radically during the forecast period owing to the growing prevalence of dry eye in the European countries. Asia Pacific is expected to increase rapidly during the forecast period owing to growing awareness regarding eye disorders. The growing accessibility and adoption of high-cost treatment options will stimulate the healthy growth of the market in the forthcoming years.
Key Development:
February 2019: ReGenTree announced the Phase – III clinical trial (ARISE-3 Study) of the new pipeline drug candidate called RGN-259 as a dry eye treatment for dry eye syndrome.
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The Report Lists the Key Companies in this Market:
- ALLERGAN (Dublin, Ireland)
- Alcon (Geneva, Switzerland)
- Novartis AG (Basel, Switzerland)
- Santen Pharmaceutical Co., Ltd. (Japan)
- OASIS Medical (California, U.S.)
- Sun Pharmaceutical Industries Ltd (Mumbai, India)
- Otsuka Pharmaceutical Co., Ltd. (Tokyo, Japan)
- Sentiss Pharma Pvt. Ltd. (Haryana, India)
- Johnson & Johnson Vision Care, Inc. (Jacksonville, U.S.)
- VISUfarma (Amsterdam, Netherlands)
- Other Prominent Players
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence Of Dry Eye Disease For Key Countries
- Key Industry Developments
- Pipeline Analysis
- New Product Launches
- Reimbursement Policies
- Regulatory Scenario
- Overview Of Novel Approaches To Treat Dry Eyes
- Key Industry Trends
- Healthcare Industry Overview
- Impact of COVID-19 on the Global Dry Eye Disease Treatment Market
- Overview of Over the Counter Eye Lubricants in the Market
- Global Dry Eye Syndrome Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Anti-inflammatory
- Cyclosporin
- Lifitegrast
- Corticosteroids
- Others
- Artificial Tears and Lubricants
- Anti-inflammatory
- Market Analysis, Insights and Forecast – By Distribution Channels
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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