Dry Eye Syndrome Treatment Market is Expected to Reach $5.68 bn by 2026
The Dry Eye Syndrome Treatment Market was valued at US $3.34 billion in the year 2018 and is estimated to reach US $5.68 billion by 2026, at a CAGR of 6.87%.
Dry Eye Syndrome is the dryness of eyes and can also be denoted as keratoconjunctivitis sicca (KCS). It is caused by inadequate moisture or lubrication of the eye and inadequate and inappropriate formation of tears. Symptoms of Dry Eye Syndrome include burning sensation, itching, aching, soreness and blurred vision. Untreated Dry eye syndrome leads to pain, ulcers, scars on the cornea, and can even end up in loss of vision. Dry eye syndrome can also be associated with autoimmune diseases like Sjogren's syndrome, radiation treatment, lupus, scleroderma, diabetes, Vitamin A Deficiency Xeropthalmia, refractive eye surgeries, such as laser-assisted in-situ keratomileusis (LASIK). Change in lifestyle, stress, age, poor dietary intake, more exposure to mobiles and laptops, frequent travelling and rising pollution levels also lead to dry eye syndrome.
Global prevalence of dry eye syndrome ranges from 20% to 50%. Of which APAC region alone accounts for around 40.8 % of dry eye population and high as 20.0% to 52.4% especially in the South east Asian regions. China and India are potential markets due to high prevalence of the disease. In the North American region, 6.8% of adult population in the United States have been diagnosed with dry eye syndrome (National Health and Wellness Survey) and the prevalence increases with age (2.7% in those 18 to 34 years old versus 18.6% in those ≥75 years old). The female population (8.5%) is most affected in comparison to the male population (4.5%).
The major challenge for treating dry eye syndrome is lack of awareness, adherence to treatment, minimalization of continuous viewing mobiles, laptops, television, etc. that comes along with the modern lifestyle. Technological advancements and development of new drugs would provide market opportunities in the upcoming years. Besides many drugs are currently under development and are expected to create positive growth impact in the forecast period.
Increase in the prevalence of eye disorders, increase in geriatric population, growth in awareness about the diagnosis and treatment of the disease, and increase in use of contact lenses worldwide are said to be the key market drives. Whilst, self- directed medication and expiry of patents of the marketed products are expected to hamper the market growth.
The class of drugs for treatment of Dry Eye Syndrome includes lubricant eye drops (preservative-free drops, oily tear eye drops, and eye ointments), anti-inflammatory drugs (corticosteroid and tetracyclines oral), and autologous serum eye drops.
Major companies for the treatment of Dry Eye Syndrome Treatment include Novartis AG, Allergan plc., Otsuka Pharmaceutical Co. Ltd., Santen Pharmaceutical Co., Ltd., Nicox S.A., AFT pharmaceuticals, Akorn Inc., Bausch & Lomb Incorporated, GlaxoSmithKline plc, Novaliq GmBh and Auven therapeutics. According to clinicaltrials.gov, there are 107 active clinical trials at present for the treatment of Dry Eye Syndrome Treatment.
- Aurinia Pharmaceuticals Inc focused on advancing voclosporin for the potential treatment of dry eye syndrome
- CyteSolutions Lens Developing Contact Lens to Fight Dry Eye Syndrome
- RegeneRx updated GtreeBNT, its Korean partner in the U.S. development of RGN-259 for the treatment of dry eye disease
Dry Eye Syndrome Treatment Market Based on Drug Class (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Lubricant Eye Drops
- Anti-Inflammatory Eye Drops
- Autologous serum Eye Drops
Dry Eye Syndrome Treatment Market Based on Disease Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Evaporative Dry Eye Syndrome
- Aqueous Dry Eye Syndrome
Dry Eye Syndrome Treatment Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
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- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Dry Eye Syndrome Treatment Market, 2015 to 2017
- Forecast of the Dry Eye Syndrome Treatment Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Dry Eye Syndrome Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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