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IMARC Group, a leading market research company, has released a report titled “Dry Eye Syndrome Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global dry eye syndrome market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.67% during 2023-2028.
Dry eye syndrome, or keratoconjunctivitis sicca, is a prevalent ocular condition characterized by insufficient tear production or poor tear quality, resulting in discomfort and potential damage to the ocular surface. It is due to the increasing use of digital devices, including computers, smartphones, and tablets, has led to a significant rise in screen time for many individuals. Prolonged screen use reduces blink rates and alters the composition of tears, exacerbating dry eye symptoms. Air pollution and indoor environments with low humidity levels can lead to increased evaporation of tears and worsen dry eye symptoms. Additionally, the geriatric population contributes to the rise in dry eye cases. As people age, tear production decreases, and the risk of developing dry eye syndrome increases. Also, certain lifestyle habits, such as increased contact lens wear and reduced outdoor activities, can also contribute to the higher incidence of dry eye. Along with this, systemic conditions such as autoimmune disorders, diabetes, and hormonal changes in women during menopause can affect tear production and contribute to the development of dry eye syndrome. As a result, increased awareness and improved diagnostic techniques led to more accurate detection and reporting of dry eye syndrome cases across the globe.
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Dry Eye Syndrome Market Trends and Drivers:
The dry eye syndrome market is primarily driven by the increasing prevalence of dry eye syndrome conditions. Additionally, the increasing use of digital devices, prolonged screen time, and environmental factors such as pollution and air conditioning led to individuals being susceptible to experiencing dry eye symptoms, thus influencing the market growth. This mounting incidence also requires a greater demand for effective treatment options, prompting manufacturers and research institutions to focus on innovation and product development to cater to this growing patient pool. Moreover, with the growing consumer awareness regarding eye health and the significance of early diagnosis and treatment due to the proactive efforts of healthcare organizations and awareness campaigns, individuals are now more vigilant about their eye health and seek prompt medical attention for dry eye symptoms representing another major growth-inducing factor. Besides this, the growing geriatric population is susceptible to dry eye syndrome due to age, resulting in seeking appropriate and sustainable solutions for their ocular discomfort, thus accelerating market growth. As a result, businesses in the eye care industry are investing in research and development (R&D) to introduce targeted therapies and innovative products that specifically handle the needs of geriatric patients, driving the market forward. Furthermore, companies are joining forces with research institutions and academic organizations to enhance their R&D capabilities and develop novel therapies while facilitating the exchange of expertise and allowing a streamlined approach to product development and commercialization, thus creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Disease Type Insights:
Evaporative Dry Eye Syndrome
Aqueous Dry Eye Syndrome
Drug Type Insights:
Anti-inflammatory Drugs
Lubricant Eye Drops
Autologous Serum Eye Drops
Product Insights:
Liquid Drops
Gel
Liquid Wipes
Eye Ointment
Others
Distribution Channel Insights:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Akorn Operating Company LLC
Alimera Science
Allergan plc.
Auven Therapeutics
Bausch + Lomb Incorporated
GlaxoSmithKline plc
Nicox S.A.
Novartis AG
Otsuka Holdings Co., Ltd.
Santen Pharmaceutical Co., Ltd.
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