Global Dry Eye Disease Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Dry Eye Disease Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Dry Eye Disease market finds that the global Dry Eye Disease market reached a value of USD 4651.11 million in 2022. It’s expected that the market will achieve USD 6665.19 million by 2028, exhibiting a CAGR of 6.18% during the forecast period.

Market Drivers and Impact

Governments and institutions are likely to take advantage of their advanced technologies during this period to turn the challenges brought by COVID-19 into opportunities. Ophthalmic consultation largely through smartphones has become a lifeline for consultation. For follow up on eye disorders, doctors are using images via electronic media. For poor patients in remote rural areas with no phone, this follow up was not possible. In remote areas, rural medicine supply for dry eye disorder patients has dried up.
On March 30, 2020, the US Centers for Medicare & Medicaid Services released temporary regulatory waivers and issued new rules for virtual visits using online applications for billable ophthalmic tele medical services. Such low-technology solutions may be one mechanism to assist with decompressing an office schedule in the post-COVID era. Thus, the patient opting for ophthalmic tele medical service is increasing, which has a positive impact on the market studied.
The market in Asia Pacific region is projected to expand at significantly high growth rate during the forecast period. Increased awareness regarding the disorder is anticipated to improve the accessibility and adoption of high-cost treatment options. For instance, in the key regions of Asia such as Japan, the prevalence of dry eye syndrome is considered to be on the higher side as compared to other regions across the world. In Latin America, the rising incidence of the disorder among the regional population is boosting the dry eye syndrome market growth.

Market Challenges

and Impact
The awareness about eye health is low among the population. There is a lack of understanding about many dry eye symptoms that can be treated or corrected easily with proper diagnosis and medications. People do not visit ophthalmologists on regular basis unless there is major symptomatic condition. The dry eye symptoms redness, burning, etc. are many times ignored and are not diagnosed which reduces the patient pool that can be treated with prescription drugs. A survey conducted in UK found out that one out of four adults are not conducting eye tests every two years as recommended by the NHS with a higher level of ignorance about eye health among youngsters.

Region Overview:

Americas had the highest growth rate of all regions.

Company Overview:

The top three companies are Allergan, Novartis, Johnson & Johnson with the revenue market share of 37.44%, 15.88% and 10.45% in 2021.

Segmentation Overview:

Among different product types, Anti-inflammatory Drugs segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Hospital segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Dry Eye Disease market covered in Chapter 3:

Sentiss Pharma
Allergan
Novartis
Senju Pharmaceutical
TRB Chemedica
Taejoon Pharmaceutical Co., Ltd
Otsuka
Altacor
Santen Pharmaceutical Co., Ltd.
Eusan GMBH
Sun Pharmaceutical
Johnson & Johnson
Bausch Health Companies Inc
URSAPHARM Arzneimittel GmbH

In Chapter 4 and Chapter 14.2, on the basis of types, the Dry Eye Disease market from 2018 to 2029 is primarily split into:

Artificial Tears
Anti-inflammatory Drugs
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Dry Eye Disease market from 2018 to 2029 covers:

Hospital
Drug Stores
Online Pharmacies

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)