The latest report by IMARC Group, titled “Dry Eye Syndrome Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global dry eye syndrome market reached a value of US$ 4.5 Billion in 2022. Dry eye syndrome is a common condition that causes the inability of the human eyes to produce or maintain a sufficient quantity and quality of natural tears to lubricate the eyes. It causes disturbance of the lacrimal functional unit consisting of the lacrimal glands, ocular surface, lids, and the sensory and motor nerves that connect them. As a result, it damages the surface of the eyes leading to pain, irritation, and inflammation, affecting the vision of individuals. It is caused by various factors, including excessive exposure to digital screens, allergies, aging, menopause, smoking, LASIK eye surgery, as well as hormone replacement therapy.
Global Dry Eye Syndrome Market Trends:
The market is primarily driven by the rising geriatric population, which is prone to low levels of supportive hormones, inflammatory diseases, and ocular surface diseases. In addition, the growing number of surgeries that affect the cholinergic nerves, which stimulate tear secretion, are also contributing to the rise in dry eye-related diseases. Factors such as increasing treatment options available to patients and inflating income levels of individuals are significantly impacting the market growth. Moreover, the increasing awareness regarding the diagnosis and treatment of the disease is also providing a positive market outlook. As a result, manufacturers are increasingly launching new treatments, such as short-term treatments for dry eye, which enhance the penetration of loteprednol etabonate into the target ocular surface tissue and treat its signs and symptoms. On account of these factors, the market is expected to grow at a CAGR of 5.67% during the forecast period (2023-2028).
- Based on the disease type, the market has been segmented into evaporative and aqueous dry eye syndrome. Currently, evaporative dry eye syndrome dominates the market.
- On the basis of the drug type, the market has been classified into anti-inflammatory drugs, lubricant eye drops, and autologous serum eye drops. Among these, anti-inflammatory drugs represent the most preferred drug type.
- The market has been categorized based on the product into liquid drops, gel, liquid wipes, eye ointment, and others. At present, liquid eye drops hold the largest market share.
- On the basis of the distribution channel, hospital pharmacies exhibit a clear dominance in the market.
- Region-wise, North America currently represents the leading market for dry eye syndrome. Other major regions are Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Akorn Operating Company LLC, Alimera Science, Allergan plc., Auven Therapeutics, Bausch + Lomb Incorporated, GlaxoSmithKline plc, Nicox S.A., Novartis AG, Otsuka Holdings Co. Ltd., and Santen Pharmaceutical Co. Ltd.
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