Dry Eye Disease

Dry Eye Disease

Dry Eye Disease (DED) is a common, frequently chronic, and frequently poorly controlled disease affecting millions of people. Since there is inadequate tear film on the outer surface of the eye, DED causes discomfort, and visual changes and may harm the surface of the eye if not treated. It is a complex disease that develops gradually in relation to the external environment and a person’s lifestyle, and it depends on age, hormonal background, and other factors. Some of the market drivers include rising incidence of dry eye disease, development of new methods of management, and general awareness on the disease. For instance, as per the data of America Academy of Ophthalmology, approximately 20 million people in the United States are currently living with dry eye disease (DED), and that number is growing in both young and old adults. Further, about 250 million people are living with dry eye disease.

The Dry Eye Disease Market is expected to grow at a steady rate of around 4% due to rising prevalence of dry eye disease, advancements in biologic therapies, and increased awareness and diagnosis. Further, new product launches are a critical driver of growth in the dry eye disease treatment market. The introduction of advanced biologic therapies, biosimilars, innovative oral therapies, and a robust pipeline of emerging treatments are significantly enhancing the options available for managing dry eye disease. These developments not only improve patient outcomes but also contribute to the substantial expansion of the market, offering promising opportunities for pharmaceutical companies and healthcare providers.

• Based on the Product, the market is segmented into Artificial Tears, Anti-inflammatory Drugs, Punctal Plugs, Secretagogues, and Other Products. In 2023, the artificial tears segment held a significant share of the market, which is expected to persist during the forecast period. Artificial tears are commonly used as the first line of defense against DED due to their effectiveness in providing immediate relief from symptoms such as dryness, irritation, and discomfort. Artificial tears are widely recommended by healthcare professionals for patients with varying degrees of dry eye symptoms. Their easy accessibility over-the-counter and affordability make them a popular choice for many individuals seeking quick relief from DED.
• Based on the distribution channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. The dry eye disease market is dominated by the hospital pharmacy segment. The senior population's rise, high hospitalization rates, and the severity of dry eye disease are predicted to fuel the segment's expansion. Conversely, the market for treatments for Dry Eye Disease was dominated by the retail pharmacy sector, which had the second-largest share.
• For a better understanding of the market adoption of Dry Eye Disease, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the market in the current scenario of 2023. This dominance can be attributed to several factors that drive the demand and development of dry eye disease therapeutics in the region, such as high disposable income, advanced healthcare infrastructure, and rising awareness. Some of the major players operating in the market include AbbVie Inc, Alcon Inc., Akorn, Johnson & Johnson, Bausch Health Companies Inc., Horus Pharma, Mitotech, Novaliq GmbH, OASIS Medical, and Otsuka Pharmaceutical Co. Ltd.