Report Overview

The global dry eye market was valued at US$ 5.7 billion in 2021 and is expected to register a revenue CAGR of 5% during the forecast period of 2022-2030.

Market Fundamental

A 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 the use of over-the-counter (OTC) eyedrops or other products that help in lubricating 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 rising prevalence of dry eye disease (DED), affects 20 million Americans and 344 million people worldwide, and its prevalence is rising in both young and adults, making it crucial for doctors to determine the most effective course of treatment.

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Market Dynamics

Dry eye disease, also known as keratoconjunctivitis sicca (KCS) is one of the most common as well as the under-diagnosed types of ocular disorder, affecting approximately 360 million people worldwide. It is not only found to be troublesome in terms of its symptoms but also in imposing a great financial burden. Patients suffering from dry eye often complain of pain, heaviness, foreign body sensation, redness, photophobia, and reflex watering due to corneal irritation. Because of the instability and incapability of maintaining the protective qualities that are necessary for its structure and function, patients with dry eyes often experience the symptoms of discomfort associated with dry eye, such as burning, stinging, grittiness, foreign body sensation, tearing, ocular fatigue, and dryness.

Market Ecosystem 

The global dry eye market has been analyzed from four perspectives: drug class, disease type, distribution channel, and region. 

Dry Eye Market by Drug Class

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Based on drug class, the global dry eye market is segmented into anti-inflammatory agents, topical corticosteroids, artificial tears, oral omega supplements, and others. 

The anti-inflammatory agents segment is likely to dominate the revenue share in the drug class segment during the forecast period. because this segment includes several important products.

Dry Eye Market by Disease Type

Based on disease type, the global dry eye market is segmented into evaporative dry eye syndrome and aqueous dry eye syndrome. 

The dry eye syndrome market is expected to dominate the segment in terms of revenue share during the forecast period. The dominance of this segment can be attributed 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 and 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. 

In terms of revenue the hospital pharmacy segment will dominate the market during the forecast period due to a high preference being given to the hospitals as the bulk of pharmaceuticals may only be administered following careful evaluations by qualified medical specialists. 

Despite moderate revenue growth, the retail pharmacies segment will continue to hold a sizable revenue share of the dry eye syndrome market 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 the Rest of the World. 

North America accounts for the largest revenue share in the global dry eye market. This large revenue share can be attributed to the presence of a large target population, increased access to healthcare, and a high rate of treatment uptake in this region. 

Asia Pacific is expected to register the fastest revenue growth during the forecast period due to the advancements in the general healthcare infrastructure, the rising prevalence of dry eye illness, and better access to healthcare in this region.

Competitive Landscape 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
• Altaire Pharmaceuticals, Inc.

Strategic Development 

• In July 2022, an experimental novel medication candidate for the treatment of dry eye disease, 0.25% reproxalap ophthalmic solution, was tested in a crossover clinical study by Aldeyra Therapeutics, Inc. The company announced that the primary endpoints were met.
• In January 2022, Avenova Lubricating Eye Drops were introduced by NovaBay Pharmaceuticals to alleviate the symptoms of dry eyes.
• In February 2021, the development of immunomodulatory eye drops for people with dry eye and ocular surface disease by researchers at the University of Chicago was awarded a $10.15 million, five-year grant, which will support regional expansion.

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