Dry Eye Medication Market 2020 Industry Growth Analysis, Segmentation, Size, Share, Trend, Future Demand, Top Players and 2030 Forecast

Dry Eye Medication Market: Covid 19 Implications And Growth - By Type (Aqueous Dry Eye Syndrome, Evaporative Dry Eye Syndrome), By End-User (Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies), By Product Type (Liquid Drops, Gel, Liquid Wipes, Eye Ointment), And By Region, Opportunities And Strategies – Global Forecast To 2035 By The Business Research Company

The global dry eye medication market is expected to decline from $3,727.5 million in 2019 to $2919.9 million in 2020 at a compound annual growth rate (CAGR) of -22%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6.5% from 2021 and reach $5,047.9 million in 2023. The market is expected to grow at a CAGR of 7.1% to nearly $5,794.7 million by 2025, and at a CAGR of 6.9% to $8,078.4 billion by 2030.

The key drivers of the dry eye medication market include:-
Rise In Laser Surgeries:
Ophthalmology research has proved a significant link between laser eye surgeries and the prevalence of dry eye disorders. Dry eye is a common side effect after laser vision correction surgeries. It is estimated that almost half of the patients that undergo laser, experience some degree of dry eyes following the procedure. Rising number of people going in for laser eye surgeries is expected to increase the demand for dry eye medications in the forecast period. In a LASIK procedure, cutting of some nerves in the cornea leads to reduction in corneal sensitivity to some degree. In response, eyes may not sense the need for lubrication, causing the body to produce fewer tears, leading to dry eyes.

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Dry Eye Medication Market Segmentation:-
The dry eye medication market is segmented by type of product, by prescription type, by distribution channel, by delivery system, by drug variation, and by geography.
By Type- The dry eye medication market can be segmented by type
a) Aqueous
b) Evaporative
c) Aqueous And Evaporative
The aqueous and evaporative market was the largest segment of the dry eye medication market, accounting for $3,071 billion or 82% of the total in 2019. The evaporative market is expected to be the fastest-growing segment going forward at a CAGR of 7.5%.

By Prescription Type- The dry eye medication market can be segmented by prescription type
a) OTC Drugs
b) Prescription Drugs
The OTC drugs was the largest segment of the dry eye medication market, accounting for $2,016 million or 54% of the total in 2019. The prescription drugs market is expected to be the fastest-growing segment going forward at a CAGR of 8.0%.

By Distribution Channel- The dry eye medication market can be segmented by distribution channel
a) Hospital Pharmacies,
b) Eye Health Clinics,
c) Retail Pharmacies And
d) Online Pharmacies
The retail pharmacies was the largest segment of the dry eye medication market, accounting for $2,393 million or 64% of the total in 2019. The online pharmacies market is expected to be the fastest-growing segment going forward at a CAGR of 10.7%.

By Delivery System- The dry eye medication market can be segmented by delivery system
a) Liquid
b) Gel
c) Ointment
d) Others
The liquid drops were the largest segment of the dry eye medication market, accounting for $3,638 million or 98% of the total in 2019. The eye ointment market is expected to be the fastest-growing segment going forward at a CAGR of 17.3%.

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By Geography - The dry eye medication market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the dry eye medication market are
• Allergan Plc.
• Alcon Inc.
• Bausch Health Companies Inc.
• Novartis AG
• Otsuka Holdings Co, Ltd

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