Dry Eye Syndrome or Dry Eye Disease (DES) also known as Keratoconjunctivitis Sicca (KCS) is a very common ophthalmic condition that occurs when the person doesn’t have enough quality tears to lubricate the eyes. The symptoms of DES are a burning sensation, redness, scratching, watery eyes, light sensitivity, and mucus near the eyes.  Tear Film is the fluid that is secreted from the eyes covering them and keeping them stable on each blink preventing them from getting dry. Increasing age deteriorates the ability of the lacrimal glands to produce tears. Further, during the pandemic using screens has increased resulting in the occurrence of dry eye symptoms. According to the Dry Eye Directory, between 16.7 million and 50.2 million Americans have dry eyes i.e. approximately 15% of the population. Moreover, dry eye treatment is expected to top over USD 6.6 billion by 2027.

Economic Impact of Covid-19:

The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It also focuses on the post-pandemic and pre-pandemic era of the Global Dry Eye Syndrome Treatment Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs. Innovations by market players and an increasing number of products will propel the growth of this market.

Trends:

Increasing in dry eye diseases is raising the demand for better treatment and eye therapies. Moreover, healthcare manufacturers are coming up with different treatments to get patients satisfaction thus fuelling the market growth.

Growing awareness in patients for better technology and developing healthcare technology will open up many opportunities in the coming years. The growing population helps in rising pollution and changing the lifestyle from traditional to modern will accelerate the demand for dry eye syndrome treatment.

Furthermore, pharmaceutical and biotechnology companies are focusing on effective treatment by investing in research and development.

The advancement of telemedicine and telehealth services makes getting easier to improve results. This trend is also accepted by doctors, healthcare providers, and surgeons to enhance treatment with consultations.

Restraining Factors:

Ignorance of dry eye disease and several patients remaining untreated due to unaware of symptoms and lack of knowledge are the main restraining factors that hamper the growth of the dry eye syndrome treatment market. 

Several companies restrict themselves from expanding due to a lack of budget and receiving approval from regulations is an expensive procedure this factor hampers the overall growth of the market.

Another growth declining factor is most of the patients do not respond to the treatment even if there are various treatments available for dry eye syndrome treatment which may restrain the adoption of this treatment in the future.

Key Players:

• Novartis AG
• AbbVie Inc.
• AFT Pharmaceuticals
• Oyster Point Pharma Inc.
• Santen Pharmaceutical Co. Ltd,
• Jonhson & Jonhson Services Inc.
• IMO
• Nicox S.A
• Akorn Incorporated
• Otsuka Pharmaceutical Co.,Ltd
• Bausch & Lomb Pvt Ltd
• GlaxoSmithKline plc
• Allergan plc
• FDC Limited
• Lupin Limited
• Boiron USA
• Jamjom Pharmaceutical Co.
• Others

The above key players in the Global Dry Eye Syndrome Treatment Market can be changed according to the client’s requirements.

Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in the Solar Encapsulation Market.

Recent Developments in Global Dry Eye Syndrome Treatment Market.

In 2023, According to OBN, Amgen announced a deal to acquire Horizon Therapeutics for a staggering USD 27.8 billion marking a significant move in the ophthalmic sector.

Astellas Pharma acquired Iveric Bio for USD 5.9 billion, a pharmaceutical firm at an advanced stage of developing a drug for geographic atrophy. They are focusing on expanding its portfolio and capabilities in addressing critical medical needs, particularly in the Ophthalmology field.

Bausch & Lomb expanded their reach by acquiring AcuFocus, the manufacturer of IC-8 Apthera Intraocular Lens (IOL). The reason behind acquiring this is FDA-approved IC-8, a groundbreaking small aperture non-toric extended depth of focus IOL developed by AcuFocus which is already approved by FDA in July 2022. This lens holds the distinction of being the first and only its kind of cataract patients with up to 1.5 dioptres of corneal astigmatism who seek solutions for presbyopia

BVI acquires Medical Mix, expanding its footprint in Spain and Portugal, a specialized medical devices company focused on ophthalmic surgeries. BVI offers a complete range of products that are designed for the treatment of various ocular conditions, including retinal disorder, cataracts, and glaucoma solidifying its position as a key player in the ophthalmic industry.

Global Dry Eye Syndrome Treatment Market: Key Benefits:

1. The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2033.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

Global Dry Eye Syndrome Treatment Market Segmentation:

By Drugs:

• Anti-Inflammatory Drugs
• Lubricant Eye Drops
• Autologous Serum Rye Drops

By Products:

• Gel Liquid Wipes
• Eye Ointments
• Liquid Drops

By Distribution Channel:

• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
• Others

By Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

 

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

The rest of the World

Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

Research Scope:

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2024 to 2033
Market Size 2023	USD 7 BN
Market Revenue 2033	USD 13.8 BN
Growth Rate 2024- 2033	8.4 %
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Drugs, Products, Distribution Channel, Region
Companies Mentioned	Novartis AG, AbbVie Inc., AFT Pharmaceuticals, Oyster Point Pharma Inc., Santen Pharmaceutical Co. Ltd, Jonhson & Jonhson Services Inc., IMO, Nicox S.A, Akorn Incorporated, Otsuka Pharmaceutical Co.,Ltd, Bausch & Lomb Pvt Ltd, GlaxoSmithKline plc, Allergan plc, FDC Limited, Lupin Limited, Boiron USA, Jamjom Pharmaceutical Co.
Customization	Yes

 

Regional Analysis:

North America is dominated the dry eye syndrome was valued at USD 3.20 billion in 2022 and is projected to reach 5.5 billion by 2025, during the forecast period due to the rising prevalence of eye disease and adoption of drug treatment. Moreover, the lucrative nature attracts giant players in novel technology in this region. The increasing population, highly developed infrastructure, and adoption of treatment have anticipated the market to grow in the North American region.

Asia Pacific is expected to grow with the highest CAGR in coming years due to the geriatric population, continuous development in the healthcare infrastructure, and rising prevalence of dry eye disease. In addition to this, key players like Otsuka Pharmaceutical Pvt Ltd, Hanali Pharmaceutical Pvt Ltd, and Santen Pharmaceutical are expected to drive the market in the Asia Pacific region.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global Dry Eye Syndrome Treatment Market?
5. Which factors will affect the Global Dry Eye Syndrome Treatment Market?
6. How Covid-19 pandemic impacted the growth of the Global Dry Eye Syndrome Treatment Market?
7. Which Segment accounted for the Global Dry Eye Syndrome Treatment Market shares?

Frequently Asked Questions (FAQ) :