Dry Eye Syndrome Market Size, Share, Growth, Trends, Analysis, Forecast, 2024-2033 | Outlook, Mergers and Acquisitions, Competitive Landscape

The dry eye syndrome market size has grown strongly in recent years. It will grow from $3.68 billion in 2023 to $3.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to healthcare accessibility, evolving treatment options, medications and health conditions, hormonal changes, ocular surgery impact.

The dry eye syndrome market size is expected to see strong growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to aging population demographics, increasing screen usage, shift in lifestyle habits, healthcare awareness and accessibility, ocular surgery trends, development of novel therapies. Major trends in the forecast period include holistic approach to eye health, integration of ai in eye care, telemedicine and remote consultations, personalized medicine approach, rise in awareness and education.

Market Overview -
Dry eye syndrome, commonly known as dry eye illness, is a common disorder in which the eyes either do not produce enough tears or produce poor-quality tears. Dry eye occurs when your eyes do not produce enough tears to keep your eyes moist. This can cause discomfort, irritation, and inflammation of the eyes.

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Driving Forces Behind The Growth Of The Dry Eye Syndrome Market
The growing prevalence of dry eye syndrome is expected to propel the growth of the dry eye syndrome market going forward. Dry eye syndrome is when eyes do not produce enough tears. Dry eye syndrome products and medications help treat dry eye syndrome by providing lubrication and moisture to the eyes, increasing tear production, improving tear quality, reducing inflammation, and protecting the ocular surface. For instance, in March 2022, according to a survey conducted by Eyes On Eyecare with 540 eyecare experts, a US-based eyecare professionals company, according to the report, 35 million Americans will suffer from dry eye disease (DED) in 2022, with the frequency increasing year after year. Furthermore, according to UpToDate Inc., a US-based health information provider, in 2022 meta-analysis of three US studies showed an 8.1% pooled prevalence of dry eye. Therefore, the rising prevalence of dry eye syndrome is driving the dry eye syndrome market.

Competitive Landscape -
Major companies operating in the dry eye syndrome market report are Allergan plc, Novartis AG, Otsuka Pharmaceutical Co. Ltd., Santendo Pharmaceutical Co. Ltd., Sentiss Pharma Pvt. Ltd., Johnson & Johnson, Alcon Vision LLC, Akorn Operating Company LLC, Sun Pharmaceutical Industries Ltd., Bausch Health Companies Inc., AbbVie Inc., GlaxoSmithKline plc, I-MED Pharma Inc., Hoffmann-La Roche AG, Acadia Pharmaceuticals Inc., AFT Pharmaceuticals, Horus Pharma, Mitotech, Novaliq GmbH, OASIS Medical, Prestige Consumer Healthcare, VISUfarma, Alimera Science, Auven Therapeutics, Kala Pharmaceuticals Inc., Nicox S.A., Emisphere Technologies Inc., EyeGate Pharmaceuticals Inc., ReVision Therapeutics Inc., Avedro Inc., Itear Medical, Transcend Medical Inc.

Cyclotears Eye Drops And The Surge Of Product Innovation In The Dry Eye Syndrome Market
Product innovation is a key trend gaining popularity in the dry eye syndrome market. Major companies operating in the home dry eye syndrome market are developing innovative products to sustain their position in the market. For instance, in May 2023, Entod Pharmaceuticals Ltd., an India-based company, launched Cyclotears eye drops, especially to treat dry eye disease. This innovative product was developed with self-emulsifying drug delivery system (SEDDS) technology, which enhances the ocular delivery of poorly water-soluble drugs. Cyclotears eye drops are formulated with cyclodextrin, which is intended to improve the stability and retention time of the tear film on the surface of the eye. Some of the claimed features of Cyclotears eye drops included a novel active ingredient, improved retention time, a lubricating effect, and being safe and preservative-free.

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Key Segments -
The dry eye syndrome market covered in this report is segmented -
1) By Product: Liquid Drops, Gel, Liquid Wipes, Eye Ointment, Other Products
2) By Treatment: Corticosteroids, Artificial Tears, Oral Omega Supplements, Lubricating Agent, Other Treatments
3) By Disease Type: Evaporative, Aqueous
4) By Distribution Channel: Offline, Online
5) By Application: Hospitals And Clinics, Medical Laboratories, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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