The global dry eye syndrome market size was worth US$ 3.7 Billion in 2019. Dry eye syndrome, medically known as keratoconjunctivitis sicca (KCS), is a term that defines the lack of lubrication or moisture on the surface of the infected person’s eyes. It is a commonly occurring disease which can affect almost anyone. Various symptoms of dry eye include aching and burning sensations, sore eyes, red eyes, fatigued eyes, itchy eyes, photophobia, etc. Apart from this, watery eyes can also be a symptom as the dry surface of the eyes over-stimulate the production of watery component of tears in order to reduce the dryness. There are several factors that can cause dry eye syndrome such as excessive computer uses, allergies, aging, menopause, smoking, LASIK eye surgery, hormone replacement therapy, etc.
Various diseases, such as diabetes, thyroid disorders, Sjogren’s syndrome, lupus, scleroderma, rheumatoid arthritis, etc., are also contributing to the prevalence of dry eyes among people. As per statistics, around 425-430 Million individuals across the globe get affected by diabetes. It causes constant changes in the composition of patient’s blood which adversely affects the tear glands resulting in a rising prevalence of dry eye. Another key factor which is contributing to the growth of the market is the rising geriatric population. As per estimates, around 9% of the global population is above 65 years of age, and by 2050 this segment is expected to account for around 17% of the global population. With the prevalence of dry eyes being high among the elderly, we expect the market for dry eye syndrome to exhibit a strong growth. Other factors augmenting the growth of this market include increasing awareness levels, rising diagnostic rates, better treatment options, etc. Looking forward, the market value is projected to reach US$ 5.4 Billion by 2025, exhibiting a CAGR of 6.5% during 2020-2025.
Breakup by Disease Type:
Based on the disease type, evaporative dry eye syndrome currently accounts for the highest market share.
Breakup by Drug Type:
Based on the drug type, anti-inflammatory drugs currently account for the highest market share.
Breakup by Product:
Based on the product type, liquid eye drops currently account for the highest market share.
Breakup by Distribution Channel:
Based on the distribution type, hospital pharmacies currently account for the highest market share.
Breakup by Region:
On the geographical front, North America currently represents the biggest market for dry eye syndrome.
The competitive landscape of the market has also been examined with some of the key players being, Akorn Inc., Alimera Science, Allergan plc., Auven Therapeutics, Bausch + Lomb, GlaxoSmithKline plc, Nicox S.A., Novartis AG, Otsuka Holdings Co. Ltd., and Santen Pharmaceutical Co. Ltd.
Key Questions Answered in This Report:
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