Dry Eye Disease Treatment Devices Market - Global Dry Eye Disease Treatment Devices Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030 - (By Type Coverage, By Cause Coverage, By Application Coverage, By End User Cover

Dry Eye Disease Treatment Devices Market - Global Dry Eye Disease Treatment Devices Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030 - (By Type Coverage, By Cause Coverage, By Application Coverage, By End User Coverage, By Region Coverage, Leading Companies)

Dry eye disease, a common ocular condition characterised by insufficient tear production or poor tear quality, has become increasingly prevalent in recent years, primarily due to the widespread use of digital screens and an ageing population. In response to the rising demand for effective dry eye treatments, the global market for dry eye disease treatment devices is expected to witness substantial growth in the coming years.

According to a recently published report of Fairfield Market Research, the dry eye disease treatment devices market size is projected to surpass US$327.1 Mn by the end of 2030, representing a promising growth rate during the forecast period. This report provides detailed insights into the market's growth analysis and forecast for the years 2022 to 2030, shedding light on key growth indicators, major market segments, regional trends, market opportunities, and major players.

“The projected 6% CAGR from 2022 to 2030 indicates healthy potential for growth, with revenue expected to reach past US$327 Mn by the end of the forecast period. While North America leading the market due to early FDA approvals, and Asia Pacific is poised for rapid growth fuelled by medical tourism,” says the company analyst.

Market Growth Projections

As dry eye disease continues to affect a growing number of individuals, the demand for effective and innovative treatment devices is expected to surge. Advancements in technology and product development, coupled with an expanding geriatric population and excessive screen time, will be significant drivers of market growth.

Additionally, the rising prevalence of diabetes and the increasing adoption of dry eye treatment devices at eye care centres will contribute to the market's expansion. As key players continue to innovate and address the evolving needs of patients, the market is set to witness a transformative phase, offering effective solutions to the growing global burden of dry eye condition.

Segmentation Analysis

Meibomian Gland Unclogging Devices Top Selling

Among the various dry eye treatment devices, meibomian gland unclogging devices spearhead the market. These devices aid in restoring tear production by addressing meibomian gland occlusion, a common cause of dry eye condition. The consistent demand for these unclogging devices is mainly driven by optometrists, and popular products like Sight Sciences' TearCare and Johnson & Johnson Vision’s LipiFlow Thermal Pulsation System are expected to drive the growth of this segment.

Wearables Reflect High Growth Potential

Wearable devices, known for their convenience and user-friendly features, show promising growth potential. The segment's attractiveness is further enhanced by innovations in the field, including the use of contact lenses for treating corneal dryness. The report predicts a bright future for wearable devices, attributing their rising popularity to the growing demand for hassle-free and effective treatments.

Application Maximum in Evaporative Dry Eye Condition

The evaporative application segment leads in terms of revenue, primarily due to a higher prevalence of meibomian gland dysfunction (MGD), a condition commonly associated with evaporative dry eye disease.

Hospitals Account for a Lion’s Share

Hospitals currently dominate the adoption of dry eye treatment devices, contributing over 40% to the market's value. However, eye care centres are expected to witness a significant surge in adoption during the forecast period.

Regional Outlook

Faster FDA Approvals Pave the Way for North America’s Dominance

North America is expected to maintain dominance in the dry eye disease treatment devices market, with a projected CAGR of 5.5% by the end of 2030. The accelerated adoption of these devices in the region can be attributed to early approvals from the US FDA, a growing elderly patient pool, and an increasing number of smartphone users. Additionally, the higher prevalence of diabetes has also played a role in shaping the market in this region.

Asia Pacific Set for the Fastest Growth

On the other hand, Asia Pacific is expected to witness the fastest growth, with India leading the region in terms of the patient population of dry eye disease. This region is anticipated to achieve an impressive CAGR of 7.8% during the forecast period. The key position of Asia Pacific in the medical tourism industry is expected to foster market expansion in the region.

Key Market Players in Dry Eye Disease Treatment Devices

The market for dry eye disease treatment devices is moderately consolidated, with a few key players holding substantial revenue shares. Leading companies such as Alcon Vision LLC, Johnson and Johnson Services Inc., Lumenis Be Ltd, AbbVie Inc., ESW – Vision, Sight Sciences, Eyedetec Medical Inc., BlephEx, MiBo Medical Group, and NuSight Medicals- NuLids LLC are actively operating in this market.Immediate Delivery

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