Pune, India, May 10, 2022 (GLOBE NEWSWIRE) -- The 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. “Dry Eye Syndrome Market Share, Size & COVID-19 Impact Analysis, By Product (Anti-inflammatory and Artificial Tears & Lubricants), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Regional Forecast, 2020-2027.” The global market size was USD 5.22 billion in 2019.
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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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2021 to 2027 CAGR | 4.7% |
| 2027 Value Projection | USD 6.54 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 5.22 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 120 |
| Segments covered | Product, Distribution Channel, End-Users and Geography |
| Growth Drivers | Decline in Dry Eye Drugs Sales amid COVID-19 to Affect Revenue |
| Growing Prevalence of the Dry Eye Syndrome to Augment the Market Growth | |
| Limited Awareness About Dry Eye Disease to Limit Market Growth |
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Market Driver:
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 dry eye syndrome 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 dry eye syndrome treatment 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 Dry Eye Syndrome 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 dry eye syndrome treatment market amid coronavirus
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Regional Analysis:
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.
The dry eye syndrome market analysis reveals:
- Exceptional insights into the market
- Systematic data with detailed analysis
- Market dynamics and aspects demonstrating the development
- Meticulous information about vital players in the market
- Imperative statistics about dominant regions
- COVID-19 affect
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List of Key Companies in Dry Eye Syndrome 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
Detailed Table of Content:
- Introduction
- Research Scope
- Dry Eye Syndrome Market Segments
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Dry Eye Syndrome 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
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- Cyclosporin
- Lifitegrast
- Corticosteroids
- Others
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- Artificial Tears and Lubricants
- 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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TOC Continued..
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