According to a recent analysis, the Dry Eye Syndrome Treatment Market is estimated to reach USD 9.521 million by 2033, reflecting a Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period. This surge from a market value of USD 5.12 billion in 2023 highlights the growing demand for effective solutions to manage this prevalent condition.
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.
Dry Eye Syndrome Treatment Market 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.
Dry Eye Syndrome Treatment Market 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 based on 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.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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