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Lifitegrast Ophthalmic Solution Market Size, Status and Forecast to 2024

03-05-2018 10:02 AM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Lifitegrast Ophthalmic Solution Market Size, Status

Lifitegrast, available under the trade name Xiidra is the first U.S. FDA approved drug for treating the signs and symptoms of dry eye syndrome. Dry eye syndrome, also referred to as dry eye disease is a chronic disorder, which is related to lack of tears in order to maintain sufficient moisture in the eye. The condition is either due to less production of tears or quick drying of tears in the eye. Across the world, over 300 million people are reckoned to be suffering from this condition. Dry eye disease (DED) involves pain, redness, light sensitivity, blurred vision, burning, and inflammation. The primary factors for DED include dry environment, allergy, sun exposure, smoke exposure, heat or chemical burns, aging, previous surgery, contact lenses or infection. At present, there are several treatment approaches available for managing dry eye syndrome, which includes lubricant treatments, anti-inflammatory treatments, autologous serum eye drops, and surgery.

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The report presents a comprehensive evaluation of the Xiidra market. This includes analyzing the historic and current performance of the market for future estimates of the growth trajectory of the market. The assessment of the vendor landscape makes for an interesting read as analysts have not only mentioned the top players in the market but have also profiled them in detail. Vital aspects such as business overview, business strategies, product portfolio, financial standing, and recent developments have been taken into consideration to assess the performance of the top players during the forecast period. Using SWOT analysis, readers are provided a clear understanding of the indicators of strengths, weakness, opportunities, and threats of each of the company.

The rising prevalence of dry eye syndrome (DES) across the world is the primary factor attributable to the growth of the Lifitegrast ophthalmic solution market. Diabetes, rheumatoid arthritis, thyroid disorders, lupus, and vitamin A deficiency are some of the underpinning factors that are accounted for the increasing prevalence of dry eye syndrome. Being the first to receive FDA approval for treating the sign as well as symptoms of DES, the Xiidra market is expected to rise exponentially in the near future. The increasing demand for advanced treatment options for DES is expected to be favorable for the growth of the Lifitegrast ophthalmic solution market. The rising geriatric population across the world that is prone to several health conditions also accounts for the high prevalence of dry eye syndrome as a secondary condition.

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Dry eye syndrome was earlier not considered seriously as it did not affect everyday functioning. However, the rising awareness about the ill-effects of dry eye syndrome is expected to favor the market’s growth exponentially. Moreover, increasing awareness about the management of this condition is further assisting the market’s growth. In present times, high level of pollution and rising industrialization is often an underlying factor for the rising prevalence of dry eye disease. However, with rising awareness about the diagnosis and treatment of the disorder will augment the growth of Xiidra market.

Despite the increasing prevalence of dry eye disease, the underdiagnosis of the condition is restraining the market’s growth. Moreover, the trend among patients to render self-medication remains a major restraint for the growth of the Xiidra market. Some of the key players in the global market for dry eye syndrome include Novartis AG, Allergan Inc., Cellzome GmbH, NicOx SA, Bridge Pharma Inc., and Santen Pharmaceutical Co. Ltd.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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