The global Dry Eye Syndrome Treatment Market size is estimated to reach US$ 4.80 billion in 2022 and grow at a 7.0% CAGR between 2022 and 2032, reaching a value of US$ 9.44 billion by the end of 2032.
The rising prevalence of dry eye syndrome, combined with rising demand for dry eye treatment to alleviate various symptoms, is a major factor driving the growth of the Dry Eye Syndrome Treatment market.
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Dry eye disease (DED) has developed as a public health concern, causing ocular discomfort, fatigue, and visual disturbance that reduces quality of life. It is one of the most common and troublesome ocular surface disorders (OSDs).
It happens when tears are unable to provide adequate moisture/lubrication or are produced insufficiently. This illness can cause a number of symptoms, including redness, a burning sensation, and inflammation, as well as itching and blurred vision.
Key Takeaways:
- In 2022, the United States accounted for 80.6% of the North American dry eye syndrome therapy market.
- Germany owned around 17.2% of the European dry eye syndrome therapy market in 2022.
- The artificial tears category will grow at a 7.1% CAGR depending on the product type.
- Hospital pharmacies will continue to dominate the market in terms of distribution channel over the evaluation period.
Competitive Landscape
In a competitive environment, prominent market players are focusing on increasing research and development efforts to develop new products with long-lasting attributes and greater efficiency. These organizations vigorously engage in product launches, agreements, and approvals to enhance their market footprints. In the recent timeline, that is between 2019 and 2021, many businesses have actively sought product approval and concentrated on releasing novel products. For instance, in October 2021, Tyrvaya nasal spray for dry eye was approved by the US Food and Drug Administration (FDA). Other developments include the October 2019 announcement of Sun Pharmaceutical Industries Ltd., that one of its subsidiaries had commercialized CEQUA (cyclosporine ophthalmic solution) 0.09% in the US.
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Key Players:
Allergen plc. (Abbvie), Novartis AG, Otsuka Pharmaceuticals Co., Ltd., Bausch Health Companies, Inc. Akron, Inc., Johnson & Johnson, Inc., Thea Pharmaceuticals Limited, OASIS Medical, Altaire Pharmaceuticals Inc., Boiron USA, Similasan Corporation, Scope Ophthalmics Ltd., Reckitt Benckiser Group PLC, Medicom Healthcare Ltd, FDC Limited., Lupin Limited, Jamjoom Pharmaceuticals Co., and Sentiss Pharma Private limited
Dry Eye Syndrome Treatment Market By Category
By Product:
- Cyclosporine
- Topical Corticosteroids
- Artificial Tears
- Punctal Plugs
- Removable
- Dissolvable
- Oral Omega Supplements
- Others
By Prescription:
- Rx
- OTC
- Medical Device
By Distribution Channel:
- Hospital Pharmacies
- Eye Health Clinics
- Retail Pharmacies
- Online Pharmacies
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More Insights Into Dry Eye Syndrome Treatment Market
For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, prescription, distribution channel, and region. According to the same reports, based on segmentation, the Rx (prescription) medicine category held about 71.4% of the overall market share in 2021. In terms of distribution channels, the retail and hospital pharmacies segment will lead the market growth. Based on region, the Dry Eye Syndrome Treatment market in the US, Germany, and China will present impressive growth during the forecast period.
In this latest report, FMI offers a detailed and unbiased analysis of the global Dry Eye Syndrome Treatment market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. The report highlights include a 9-year realistic sales prediction for the market, demand and supply trend analysis, illustrative representation of statistical data, and strategies adopted by leading players to retain a competitive edge.
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