Rockville , Jan. 04, 2024 (GLOBE NEWSWIRE) -- The global dry eye syndrome treatment market is projected to be worth US$ 4,027.2 million in 2024. Projected economic growth through 2034 is expected to be 7.2% CAGR. By 2034, the market is anticipated to grow to an astounding US$ 10,961.2 million.
The dry eye syndrome treatment industry is propelled by a surge in the aging population and increased screen time among individuals. As people age, the likelihood of experiencing dry eye symptoms rises, contributing to a growing patient pool seeking effective treatments. Additionally, the pervasive use of digital devices, such as computers and smartphones, leads to a rise in screen-related dry eye cases. The demand for innovative and convenient treatment options to alleviate discomfort and enhance ocular health fuels industry growth.
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Despite the demand for treatments, the dry eye syndrome treatment industry faces challenges related to treatment adherence and diverse underlying causes of dry eye. Patient compliance with prescribed therapies can be an issue, impacting the effectiveness of treatments. Moreover, identifying and addressing the multifactorial nature of dry eye syndrome, influenced by factors like environmental conditions, systemic diseases, and medication use, poses a complex challenge. Developing universally effective solutions for the diverse causes of dry eye remains a restraint.
Opportunities abound in the dry eye syndrome treatment sector with the exploration of advanced therapeutic modalities and personalized medicine. The industry can capitalize on the development of targeted therapies addressing specific underlying causes of dry eye, paving the way for more precise and effective treatments. Furthermore, expanding research into novel formulations, such as nanotechnology-based ocular delivery systems, presents opportunities for enhanced drug delivery and improved patient outcomes.
A prominent trend in the dry eye syndrome treatment market is the integration of artificial intelligence (AI) and telemedicine solutions. AI technologies aid in the early detection and monitoring of dry eye symptoms, allowing for proactive intervention. Telemedicine facilitates remote consultations, providing patients with convenient access to eye care professionals. Additionally, the market is witnessing a surge in the development of combination therapies, combining anti-inflammatory agents, lubricants, and other components to address the multifaceted nature of dry eye syndrome and enhance treatment efficacy.
| Report Attribute | Details |
| Value Projection (2034) | US$ 10,961.2 million |
| Growth Rate (2024-2034) | 7.2% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from Market Study
- The global dry eye syndrome treatment market is expected to grow at a 7.2% CAGR through 2034.
- The industry for treating dry eye syndrome in East Asia is projected to grow at a CAGR of 8.3% until 2034.
- With a phenomenal CAGR of 7.3% through 2034, the market for dry eye syndrome treatments in North America is predicted to expand.
- In 2024, the United States dry eye syndrome treatment market will command 74.7% of the market.
- China is expected to have 46.1% of the worldwide market by 2024 for treatments for dry eye conditions.
“Treatments for dry eye syndrome are in significant demand outside of wealthier nations because of the COVID-19 pandemic's increasing screen usage. Manufacturers concentrate on producing devices with pulsed solid light technology, which is anticipated to provide a substantial rise in income for treating dry eye illness and be in high demand globally.”, states a Fact.MR analyst.
Key Companies Profiled in This Report
- Allergen plc. (Abbvie)
- Novartis AG
- Otsuka Pharmaceuticals Co., Ltd.
- Bausch Health Companies, Inc.
- Akron, Inc.
- Johnson & Johnson, Inc.
- Thea Pharmaceuticals Limited
- OASIS Medical
- Altaire Pharmaceuticals Inc.
- Boiron USA
- Similasan Corporation
- Scope Ophthalmics Ltd.
- Reckitt Benckiser Group PLC
- Medicom Healthcare Ltd
- FDC Limited.
- Lupin Limited
- Jamjoom Pharmaceuticals Co.
- Sentiss Pharma Private Limited
Growing Demands for Prescribed Eye Care Products Commands the Global Healthcare Industry
The market for primary dry eye disease treatments is expanding rapidly, with several leading businesses focusing on diversifying their product offerings through extensive research, development, and product releases. To keep up with the ever-increasing demand and stay ahead of the competition, these companies invest in cutting-edge manufacturing facilities and form strategic partnerships with mid-sized or small-sized competitors.
The major industry players are committed to providing innovative solutions that improve the quality of their products. They are investing heavily in research and development to create breakthrough products that meet the evolving needs of their customers. Additionally, these businesses are implementing various marketing strategies, such as collaborations, mergers, acquisitions, and new product launches, to increase their global market share and stay ahead of their competitors.
Through these efforts, the top players in the primary dry eye disease treatment sector are strengthening their position and establishing themselves as trusted and reliable brands. As a result, they are poised to take advantage of the growing market opportunities and meet the needs of their customers in an ever-changing landscape.
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Country-wise Insights:
Why does the US dominate the world market for treatments for dry eye syndrome?
"The US Dry Eye Market Benefits from Prescription Eye Care Products"
The United States is expected to enjoy a CAGR of 7.1% from 2024 to 2034. With a projected value of US$ 1,651 million, the industry is anticipated to hold a sizable 74.7% of the worldwide market for treatments for dry eye condition in 2024. Treatment for dry eye syndrome is getting more and more in demand due to the development in gaming and other virtual activities, the general population, and the number of persons with the condition. The vast healthcare systems in the United States, which give patients' requests for particular medications priority, greatly expand the market size.
In addition, while the majority of people use computers, an increasing number of individuals utilise smartphones, tablets, and other cutting-edge devices. During this time, the US government and private businesses may employ cutting-edge innovation to transform the obstacles brought on by illness into possibilities.
With the FDA approving medical prescriptions and eye therapies to increase market income, the biotechnology, pharmaceutical, and research industries in the United States are developing cutting-edge solutions for dry eye syndrome. Manufacturers of medical equipment are providing affordable ways to enhance patient outcomes.
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