Global Dry Eye Syndrome Market 2020 Ongoing Trend | Growing at Remarkable CAGR of 6.6% with Allergan, Novartis AG, Otsuka Pharmaceutical Co. Ltd., Valent Pharmaceuticals, Johnson & Johnson Vision and others.

Dry Eye Syndrome Market Overview

The global dry eye disease market is growing pervasively, mainly due to the prevalence of the condition. Moreover, factors such as advancements in medical technologies and medical science, act as a key driving force behind the market. Increasing geriatric population is also a major growth driver for market growth. Moreover, the increasing uptake of advanced technology in the treatment procedures and the developing healthcare industry escalate the market on the global platform.

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According to a recent dry eye syndrome market analysis published by Market Research Future (MRFR), the global market for dry eye syndrome is projected to accrue at a rapid pace by 2023, registering approximately 6.6% CAGR during the review period (2017-2023). Spurting upsurge in the prevalence of diseases such as diabetes and rheumatoid arthritis is a major growth driver for the market.

Additionally, factors such as the rising per-capita healthcare expenditure and increasing support and funding from the government for discoveries of breakthrough drug and novel therapeutics, foster the growth of the market. On the other hand, lack of awareness about the condition and availability of treatments impedes dry eye syndrome market growth majorly. Also, the absence of definitive treatment and low per capita healthcare expenditures are growth obstructing factors for the markets, especially in the underdeveloped regions.

Dry Eye Syndrome Market – Segments

The analysis has been segmented into five key dynamics:

By Type: Evaporative Dry Eye Syndrome, Aqueous Dry Eye Syndrome, and others.

By Diagnosis: Schirmer Test, Eye Exam, and others.

By Treatment: Nutritional Supplements, Serum & Lubricant Eye Drops, Anti-Inflammatory Drugs Segments, Surgery, and others.

By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and others.

By End User: Hospitals, Clinics, Home Care, and others.

Dry Eye Syndrome Market – Regional Analysis

North American dominates the global dry eye syndrome market due to the presence of a well-developed healthcare sector. Also, a huge patient population and high healthcare expenditures boost the dry eye syndrome market growth in North America. Moreover, the presence of many major market players such as Johnson & Johnson Vision, Auven therapeutics, and Acadia Pharmaceutical, among others in the region pushes the dry eye syndrome treatment market

Europe stands second in the global dry eye syndrome market owing to the increasing availability of funds for research. Besides, a vast patient population and well-developed healthcare sectors in the region drive the regional market. Additionally, the increasing numbers of clinical researches led by the massive funding from the public and private organizations are fostering the European dry eye syndrome market.

The Asia Pacific region is emerging as a promising market for dry eye syndrome. Due to the presence of economies like India, China, Australia, the market is growing rapidly. Factors such as the large patient population, and rising healthcare expenditures boost the regional market growth. Furthermore, vast advancements in medical technologies and the fast-growing healthcare sector in the region propel the growth of the market. Also, the growing government support for R&D activities boosts the regional market. Moreover, large unmet needs are likely to drive the APAC dry eye syndrome market significantly over the forecast period.

Dry Eye Syndrome Market – Competitive Analysis

Highly competitive, the dry eye syndrome market appears fragmented due to the presence of several well-established players. To gain an edge over their competitions, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. Players make substantial investments in R&D and clinical trials to develop effective therapies to treat the syndrome. They strive to develop breakthrough drugs and innovative therapeutic approaches that can improve the quality of life of patients. These companies also focus on areas with a high unmet therapeutic need and require further innovation despite the progress that has been made.

Dry Eye Syndrome Market Major Players:

Players leading the global dry eye syndrome market include Novartis AG (Switzerland), Allergan (Republic of Ireland), Otsuka Pharmaceutical Co. Ltd. (Japan), Johnson & Johnson Vision (U.S.), Valent Pharmaceuticals (Canada), Acadia Pharmaceutical (U.S.), I-Med Pharma Inc. (Canada), Allostera Pharma (Canada), Santen Pharmaceuticals Co. Ltd., (Japan), Novaliq GmBh (Germany), AFT Pharmaceuticals (New Zealand), and Auven Therapeutics (U.S.), among others.

Dry Eye Syndrome Industry/ Innovation/ Related News:

April 27, 2020 ---- I-MED Pharma Inc. (Canada), a privately held company specializing in dry eye diagnosis & management, announced the approval of Health Canada for the E>Eye Laser. This exceptional device is now available to Canadian eye care professionals. This also implies that I-MED Pharma has exclusive distribution rights for E>Eye Laser in the Canadian market. The new device with patented IRPL technology is designed & manufactured in France by E-Swin. It is the first, and only CE certified medical device in the world is specifically intended for the treatment of dry eye disease caused by meibomian gland dysfunction (MGD).

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This release was published on openPR.