North America Dry Eye Products Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product [Antibiotic Drops, Hormone Drops, Artificial Tears (OTC Artificial Tears and Prescription Artificial Tears), and Others] and Type (Prescription Dru

North America Dry Eye Products Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product [Antibiotic Drops, Hormone Drops, Artificial Tears (OTC Artificial Tears and Prescription Artificial Tears), and Others] and Type (Prescription Drugs and OTC Drugs)

The North America dry eye products market is expected to grow from US$ 3,084.29 million in 2021 to US$ 4,421.66 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2021 to 2028.

Rising Incidence of Dry Eye

Incidence and prevalence of dry eye are rising among the population, especially in developed nations. A dry eye is caused by multiple factors, resulting in discomfort, irritation, and visual disturbance. For instance, in April 2020, according to the National Health and Wellness Survey conducted in the US, ~16.4 million people were diagnosed with dry eye. The data also stated that the prevalence has increased by 2.7% among people aged 18−34 years. Additionally, the prevalence was 18.6% among older people. Based on sex, the percentage of prevalence was higher in women (8.8%) than in men (4.5%). The incidence of dry eye is higher among the population in several countries across the region. The increasing incidence of dry eye is leading to a rise in the direct cost of treatment. According to Ocular Surgery News, the annual direct cost for mild dry eye symptom treatment was US$ 678; for moderate dry eye symptoms, it was US$ 771; and for severe dry eye symptoms, it was US$ 1,267. Thus, the increasing prevalence of dry eye is expected to drive the dry eye products market.

Market Overview

The dry eye products market in North America is further segmented into the US, Canada, and Mexico. The US held the largest share of the North America dry eye products market in 2021. The market's growth is attributed to the increasing incidence of dry eye conditions or diseases. The country has the presence of various companies that offer various types of eye drops and lenses to treat dry eye condition. Also, the rising healthcare expenditure is influencing the market's growth in the country. According to the American Academy of Ophthalmology data for 2019, in 2012, the prevalence of dry eye condition increased by 5.28% in all age groups. The percentage for females increased by 7.78%, and in males, it increased by 2.96%. Similarly, according to the National Health and Wellness Survey data published in 2020 for 2017, 6.8% of the adult population in the US was diagnosed with dry eye. The increasing percentage of people with dry eye is expected to fuel the demand for dry eye products. In addition, healthcare spending for the treatment of dry eye is rising in the country. For instance, an article published in JAMA Internal Medicine states that the country spends more than US$ 2 billion annually to treat dry eye condition. Thus, all these factors are expected to drive the market during the forecast period.

North America Dry Eye Products Market Revenue and Forecast to 2028 (US$ Million)

North America Dry Eye Products Market Segmentation

The North America dry eye products market is segmented based on product, type, and country.

Based on product, the North America dry eye products market is segmented into artificial tears, antibiotic drops, hormone drops, and others.

The artificial tears segment held the largest market share in 2021. The artificial tears segment is bifurcated into OTC artificial tears and prescription artificial tears.

In terms of type, the North America dry eye products market is bifurcated into OTC drugs and prescription drugs. The OTC drugs segment held a larger market share in 2021.

Based on country, the North America dry eye products market is segmented into the US, Canada, and Mexico. The US dominated the market in 2021.

AbbVie Inc; Bausch Health Companies Inc.; Johnson and Johnson Services, Inc.; Novartis AG; OASIS Medical; OCuSOFT Inc.; Prestige Consumer Healthcare Inc.; ROHTO Pharmaceutical Co, Ltd.; Santen Pharmaceutical Co., Ltd.; and URSAPHARM Arzneimittel GmbH are among the leading companies operating in the North America dry eye products market.

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