Number of pages: 100 | Report Format: PDF | Published date: 17 November, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global dry eye market was pegged at ~US$ 5.7 billion in 2021 and is expected to witness a CAGR of ~5% during the forecast period.
Dry eye is a condition in which a person doesn't have enough quality tears to lubricate and nourish the eye. Tears are necessary for maintaining the health of the front surface of the eye and for providing clear vision. Treatments for dry eyes may make patients more comfortable. These treatments can include lifestyle changes, eyelid washing and use of over the counter (OTC) eyedrops or other products that help lubricate eyes. Furthermore, it is known for being underestimated, misdiagnosed, and undertreated despite the fact that it can be progressive and have serious effects on a patient's eyesight and quality of life. The prevalence of dry eye disease (DED), which affects 20 million Americans and 344 million people worldwide1, is rising in both young and old adults, making it crucial for doctors to determine the most effective course of treatment.
Dry eye disease, also known as keratoconjunctivitis sicca (KCS) is one of the common as well as under-diagnosed ocular disorder affecting approximately 360 million people worldwide. It is not only troublesome in terms of its symptoms but also imposes a great financial burden. Patients with dry eye often complain of pain, heaviness, foreign body sensation, redness, photophobia and reflex watering due to corneal irritation. Because the tear film in dry eye patients is unstable and incapable of maintaining the protective qualities that are necessary for its structure and function, patients experience the symptoms of discomfort associated with dry eye, which are burning, stinging, grittiness, foreign body sensation, tearing, ocular fatigue, and dryness.
The global dry eye market has been analysed from four perspectives by drug class, disease type, distribution channel and region.
Dry Eye Market by Drug Class
Based on drug class, the global dry eye market has been segmented into anti-inflammatory agents, topical corticosteroids, artificial tears, oral omega supplements, and others. The anti- inflammatory agents dominated the segment during forecast period due to the fact that this segment included a number of important products. However, lubricating eye drops and artificial tears also played a significant role in the disease's management. Consequently, this segment also represented a sizeable share of the market for treatments for dry eye globally.
Dry Eye Market by Disease Type
Based on disease type, the global dry eye market has been segmented into evaporative dry eye syndrome and aqueous dry eye syndrome. The dry eye syndrome market dominated them segment during forecast period due to variables like the expanding frequency of dry eye syndrome, the desire for effective treatments, the existence of a profitable pipeline, and growing public awareness of the condition. Additionally, a robust and encouraging pipeline has been created as a result of increasing R&D initiatives for the illness. Products like CyclASol, SURF-200, SURF-100, OCS-02, and Pro-ocular are included in this; these are expected to increase the range of available treatments for patients. In addition, NOV03 met every trial target in September 2021 and is scheduled to go on sale in 2023.
Dry Eye Market by Distribution Channel
Based on distribution channel, the global dry eye market has been segmented into hospital pharmacies, eye health clinics, retail pharmacies, and online pharmacies. The hospital pharmacies dominated the market during forecast period due to hospitals being given a high preference because the bulk of pharmaceuticals may only be administered following careful evaluations by qualified medical specialists. Despite a moderate CAGR, the retail pharmacies segment will continue to hold a sizable market share for dry eye syndrome due to the accessibility of some therapeutic solutions over the counter.
Dry Eye Market by Region
Based on region, the global dry eye market has been segmented into North America, Europe, Asia Pacific and Rest of the World. The majority of funding derived from North America. The market in this area is expected to be driven by the presence of a large target population, increased access to healthcare, and a high rate of treatment uptake. Additionally, the market's lucrativeness draws players to this region. For instance, Cequa was introduced in the region by Sun Pharmaceutical Industries Ltd. in October 2019.
Asia Pacific is anticipated to have the fastest growth throughout the projection period due to advancements in the general healthcare infrastructure, the rising prevalence of dry eye illness, and better access to healthcare. In addition, the presence of important companies in this region like Santen Pharmaceuticals and Otsuka Pharmaceuticals Co. Ltd. is anticipated to propel the market as a whole.
Some of the prominent players operating in the global dry eye market are Novartis AG; Otsuka Pharmaceuticals Co., Ltd.; Akron, Inc.; Johnson & Johnson, Inc.; Medicom Healthcare Ltd; OASIS Medical; Lupin Limited; Jamjoom Pharmaceuticals Co., Ltd; Sentiss Pharma Private Limited; and Altaire Pharmaceuticals, Inc. among others.