Wilmington, Delaware, United States, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The dry eye disease was worth US$ 6.1 billion in 2022. In 2031, it is predicted that the market will increase at a CAGR of 4.2%, reaching US$ 8.7 billion by the end of the forecast period. Pharmaceutical companies are likely to introduce new dry eye products and treatments. The diagnosis and management of dry eye can be positively impacted by government initiatives designed to improve healthcare infrastructure and accessibility. Eye care services may become more accessible as healthcare systems improve.
Dry eye treatments may be available and approved based on the regulatory landscape. Researchers in DED are continuing to investigate the causes of the disease, which could improve treatment outcomes. Drugs, biologics, and gene therapies might be used to treat the disease in a specific way. Personalized treatments could be developed with more knowledge of dry eye etiology. Therapies tailored to a patient's individual characteristics and underlying causes could lead to better treatment outcomes.
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Key Findings of the Market Report
- Based on product type, artificial tears are expected to contribute to the dry eye disease market.
- Hospital pharmacies will drive demand for dry eye disease medications.
- North America held a dominant position in the global market in 2022.
- The increasing incidence of dry eye syndrome and the development of drugs that address the condition are driving the dry eye disease market size upward.
Global Dry Eye Disease Market: Key Players
Drug development is a priority for leading pharmaceutical companies, which are analyzing dry eye disease symptoms in the near future. As part of their efforts to receive approval, they invest in developing innovative drugs and conducting clinical trials.
A number of strategies are being applied by leading players to expand their production capacities, including business agreements, mergers and acquisitions, and partnerships.
- Santen Pharmaceutical Co. Ltd.
- Novartis AG
- Bausch Health Companies Inc.
- Allergan plc
- Shire plc
- TRB Chemedica International SA
- Sun Pharmaceutical Industries Ltd.
- Senju Pharmaceutical Co., Ltd.
- Sentiss Pharma Pvt. Ltd.
- Johnson & Johnson
- Otsuka Pharmaceutical Co. Ltd.
- Mitotech S.A.
- FCI
Global Dry Eye Disease Market: Growth Drivers
- A significant proportion of the global population suffers from dry eye disease. Increasing use of digital devices coupled with an aging population is expected to lead to an increase in dry eye symptoms. Recent developments in diagnostic tools and treatment options have contributed to steady growth in the DED market.
- Innovations in technologies that assess the stability of tear films, measure tear osmolality and find the underlying causes of dry eye disease are driving the advancement of this field. Increasing awareness of dry eye disease symptoms and consequences among both patients and healthcare professionals will promote early diagnosis. Thus, the popularity of dry eye products and treatments may increase.
- Dry eye symptoms and decreased tear production are more prevalent among the elderly. With an aging population, dry eye cases are also on the rise, creating a natural market opportunity. Dry air, pollutants, and increased screen time in modern society commonly cause dry eye symptoms. These factors may continue to worsen or persist, leading to a higher demand for dry eye treatments.
- Dry eye symptoms are linked to a modern lifestyle characterized by long-term indoor activities and a high level of screen time. Treatments for dry eyes can be found over the counter or by prescription, depending on lifestyle changes. Researchers and developers in the pharmaceutical and biotechnology sectors are finding new ways to treat dry eye. Drug formulations and delivery systems are key drivers of innovation. Dry eye symptoms may be more readily diagnosed and treated due to rises in healthcare spending worldwide.
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Global Dry Eye Disease Market: Regional Landscape
- Asia Pacific region is projected to dominate the market for dry eye disease in the market. The Asia Pacific region is reported to have a high prevalence of dry eye disease. Environmental conditions, air pollution, and extensive use of digital devices contribute to the high incidence of dry eye disease. Higher rates of diagnosis for various eye conditions, including dry eye, have been linked to increasing awareness of eye health.
- Awareness campaigns and educational efforts may make dry eye symptoms more prevalent in the future. Dry eye management in the region is likely to be impacted by advances in diagnostic technologies and treatment options. The availability of advanced ophthalmic products and improvements in eye care infrastructure can contribute to market growth.
Global Dry Eye Disease Market: Segmentation
By Product
- Artificial Tears
- Anti-inflammatory Drugs
- Cyclosporine
- Corticosteroids
- Lifitegrast
- Punctual Plugs
- Secretagogue
- Others
By Distribution Channel
- Hospital Pharmacies
- Independent Pharmacies & Drug Stores
- Online Pharmacies
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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