Dry eye syndrome (DES) refers to the condition of lack of tears to lubricate and provide sufficient moisture to the eye. Tears help to maintain eye health and provide clear vision. Some of the symptoms of dry eye syndrome are irritation, itching, pain, burning, watery eyes and unclear vision. Some of the treatment options to control these symptoms of dry eye syndrome are lubricant treatments, anti-inflammatory treatments, autologous serum eye drops and surgery.
Currently, the companies which are operates in dry eye syndrome treatment, entering into the mergers and acquisition with other companies and launching new products to expand its dry eye syndrome treatment business. For instant, in June 2015, Allergan plc, a pharmaceutical company acquired Oculeve Inc, a medical device company that focuses on new technologies for dry eye disease for increasing its position in the dry eye syndrome treatment market. In addition, in October 2015, Allergan plc launched artificial tear REFRESH OPTIVE gel drops to provide artificial tear option to relieve dry eye symptoms. In 2014, Nicox S.A. a French pharmaceutical company launched AdenoPlus and Xailin to relief of dry eye symptoms.
Globally, increasing patient population with dry eye syndrome and rising need for better healthcare facilities for eye disease treatment, which results the dry eye syndrome treatment market is also increasing.
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Dry Eye Syndrome Treatment Market: Drivers and Restraints
Increasing number of patient with dry eye syndrome, growing awareness about syndrome, rising demand for advanced treatment for dry eye syndrome, growing patient population of various diseases that can causes dry eye syndrome such as diabetes, lupus, scleroderma, rheumatoid arthritis, Sjogren’s syndrome, thyroid disorders and vitamin A deficiency, increasing research and development activities, government initiative and growing elderly population are some of the factors that drive the growth of the dry eye syndrome treatment market.
However, expiration of blockbuster drug patents and self-medication by patients act as an inhibitor for this market.
Dry Eye Syndrome Treatment Market: Region- wise Outlook
The global dry eye syndrome treatment market is expected to register a healthy CAGR for the forecast period. Depending on geographic regions, global dry eye syndrome treatment market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
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North America followed by Europedominates the global dry eye syndrome treatment market due to increasing number of patients with dry eye syndrome, developed healthcare infrastructure, increasing various diseases that causes dry eye syndrome such as diabetes, lupus, scleroderma, rheumatoid arthritis, Sjogren’s syndrome, thyroid disorders and vitamin A deficiency in these region and rising the usages of certain medicines such as pain relievers, antihistamines, decongestants, blood pressure medications, antidepressants as these medicines can reduce the amount of tears produced in the eyes result in dry eyes. Asia-Pacific is the fastest emerging market for global dry eye syndrome treatment due to rising cases of dry eye syndrome, developing healthcare infrastructure, increasing disposable income and growing patient population for various diseases that causes dry eye syndrome such as lupus, rheumatoid arthritis, etc. and rising government spending in healthcare industry in this region.
Dry Eye Syndrome Treatment Market: Key Players
Some of the key market players in global dry eye syndrome treatment market are Novartis, Allergan Inc., Otsuka Holdings Co., Ltd., Santen Pharmaceutical Co., Ltd., Nicox, ArGentis, Auven Therapeutics (Celtic), Bridge Pharma Inc. and Cellzome GmbH.