Dry Eye Disease Market size estimation year: 2023; Forecast Period: 2023-2030 | OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd

Market Overview:

Dry eye disease, also known as keratoconjunctivitis sicca, is a multifactorial disease of the tears and ocular surface that results in symptoms of discomfort, visual disturbance, and tear film instability with potential damage to the ocular surface. It is accompanied by increased osmolarity of the tear film and inflammation of the ocular surface.

Market Dynamics:

Dry eye disease market is estimated to witness high growth owing to increased awareness and diagnosis rate. According to the report, various awareness programs organized by leading companies and dry eye societies have improved the understanding of signs and symptoms of dry eye disease among patients as well as physicians. This has led to faster diagnosis. Additionally, growing geriatric population is also contributing to the increase in prevalence of dry eye disease. Older people tend to experience a decline in tear production due to aging, which increases their risk of developing dry eye disease.

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Driver : Increasing Prevalence of Dry Eye Syndrome due to Growing Aging Population and Usage of Digital Devices

The global dry eye disease market is primarily driven by the increasing prevalence of dry eye syndrome across the world. According to various studies, dry eye syndrome is one of the most common ocular problems encountered in clinical practice. It has been estimated that around 33 million people in the United States alone suffer from dry eye syndrome. The increasing geriatric population worldwide is one of the major factors augmenting the prevalence of dry eye disease. With age, the eyes tend to become dry due to several changes that occur in the tear glands and ocular surface. Moreover, the excessive use of digital devices such as computers, laptops, smartphones, and tablets is significantly contributing to the growing virtual screen time. Staring at digital screens for long hours reduces blinking rate and tear production, thereby leading to dry eyes.

Rapid Advancements in Diagnostic and Therapeutic Technologies

The dry eye disease market is further fuelled by the ongoing technological advancements in diagnostic devices, drug delivery systems, and treatment modalities. Various novel diagnostic technologies have been introduced to efficiently and accurately diagnose dry eye conditions. For instance, tear film stability analysis devices, meibography systems, corneal topographers, and OCT systems provide comprehensive and objective assessment of dry eye disease. On the therapeutic front, the availability of advanced drug delivery systems such as punctal plugs, biopsy devices, and topical cyclosporine formulations have considerably improved the management of dry eye syndrome. Moreover, rising adoption of in-office procedures like LipiFlow and Intense Pulsed Light (IPL) treatment is positively impacting the market growth.

Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, a detailed analysis of the competitive landscape, and product services of key players. Analysis of Dry Eye Disease companies, key tactics followed by Leading Key Players:

◘ VISUfarma
◘ Johnson & Johnson
◘ Otsuka Holdings Co. Ltd.
◘ OASIS Medical
◘ Novartis AG
◘ Sentiss Pharma Pvt. Ltd.
◘ AbbVie Inc. (Allergan PLC)
◘ Bausch Health Companies Inc.
◘ Santen Pharmaceutical Co. Ltd.
◘ Sun Pharmaceutical Industries Ltd.
◘ among others

Note: Major Players are sorted in no particular order.

By Product:

Artificial Tears
Anti-Inflammatory Drugs
Punctal Plugs
Secretagogues
Other Products

By Distribution Channel:

Hospital Pharmacies
Independent Pharmacies and Drug Stores
Online Pharmacies

Restrain: High Cost of Treatment and Diagnosis

One of the major challenges impeding the growth of the dry eye disease market is the high cost associated with diagnosis and treatment of dry eye conditions. Currently available diagnostic devices such as tear film stability analysis systems, keratographs, and meibography equipment involve substantial capital investment and maintenance costs. The routine tests and visits to ophthalmologists also burden the patients with significant out-of-pocket expenses. Moreover, most advanced treatment therapies including punctal plugs, artificial tears infused with reimburse lipids, and in-office procedures are generally not covered by the insurance and thus are not affordable to many patients. This cost factor discourages patients from receiving optimal and timely management of dry eye symptoms.

Opportunity: Emerging Economies in Asia Pacific and Latin America

The dry eye disease market players have untapped opportunities for growth in emerging economies of Asia Pacific and Latin America. These regions have a huge patient population base seeking efficient diagnostic and therapeutic solutions for dry eye syndrome. However, awareness regarding dry eye disease is relatively low and healthcare infrastructure is also underdeveloped in many Asian and Latin American countries. This provides scope for market stakeholders to increase awareness, educate eye care professionals, and introduce affordable products. Companies can also collaborate with local players and governments to expand access to diagnosis and treatment in rural areas. Additionally, with rising income levels, the demand for advanced technologies is growing in these regions at a rapid pace. Market players should accordingly adapt their business strategies to capitalize on opportunities in Asia Pacific and Latin America.

Trends: Shift Towards Combination Therapies

One of the key trends witnessed in the global dry eye disease market is the shift towards development and adoption of combination therapies. Previously, therapeutic management of dry eye syndrome majorly involved the use of artificial tears, corticosteroid drops, and punctal plugs as monotherapies. However, monotherapies often fail to effectively address the multi-factorial nature of dry eye disease. To overcome this limitation, companies are now investing in clinical research of therapies that target different mechanisms involved simultaneously. There is a growing trend of combining anti-inflammatory drops with secretagogue drops, immunosuppressants with punctal plugs, or vitamin supplements with autologous serum eye drops. Such multi-targeted combination therapies help in achieving synergistic therapeutic effects while lowering treatment failure and relapse rates.

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The Study Objectives are:

A comprehensive insight into key players operating in the Dry Eye Disease Market and their corresponding data.
It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
Regional analysis, which includes insight into the dominant market and corresponding market share.
It also includes various socio-economic factors affecting the evolution of the market in the region.
The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Contents:

Market scenario 2023

Chapter 1: Introduction, Market Driving Force Product Objective of Study and Research Scope the Dry Eye Disease market
Chapter 2: Exclusive Summary - the basic information of the Dry Eye Disease Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges & Opportunities of the Dry Eye Disease
Chapter 4: Presenting the Dry Eye Disease Market Factor Analysis, Supply/Value Chain, PESTEL analysis, Market Entry, and Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User, and Region/Country 2023 - 2030
Chapter 6: Evaluating the leading manufacturers of the Dry Eye Disease market which consists of its Competitive Landscape, Peer Group Analysis, Market positioning & Company Profile
Chapter 7: To evaluate the market by segments, by countries, and by Manufacturers/Companies with revenue share and sales by key countries in these various regions (2023-2030)
Chapters 8 & 9: Displaying the Appendix, Methodology, and Data Source

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Key Questions Answered:

What is the market size and CAGR of the Dry Eye Disease Market during the forecast period?
How is the growing demand impacting the growth of Dry Eye Disease Market shares?
What is the growing demand of the Market during the forecast period?
Who are the leading vendors in the market and what are their market shares?
What is the impact of the COVID-19 pandemic on the APAC Dry Eye Disease Market?

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