Dry Eye Syndrome Market Scenario:
Tears provide lubrication, limit the risks of eye infections, wash away the foreign matter, thus, are helpful in keeping the surface of the eyes smooth and clear. Dry eye syndrome is a medical condition in which eyes’ lubrication is hindered by the unavailability of tears. Under normal condition, during excessive production, tears flow into the small drainage ducts of the inner corners of the eyes, followed by draining back into the nose. Sometimes when the production of tears and drainage is not balanced, it can result into dry eye syndrome.
Eye redness, sensitivity to light, watery eyes, eye fatigue are some of the common symptoms of the disease. Increasing geriatric population, rising prevalence of diseases like diabetes, rheumatoid arthritis, and others are estimated to be the major drivers for the market growth. According to the World Health Organization in 2016, approximately 422 million adults were globally affected by diabetes in 2014, as compared to 108 million in the 1980’s. Moreover, in 2014, it was estimated that the global prevalence of diabetes was estimated to be around 8.5%. Additionally, rising per capita healthcare expenditure, and changing lifestyle boosts the market. However, factors like stringent FDA drug approvals, lack of skilled ophthalmologists, and low per capita healthcare expenditure in the middle and low income countries are restraining the market.
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Key Players in Dry Eye Syndrome Market:
Allergan (Republic of Ireland), Novartis AG (Switzerland), Otsuka Pharmaceutical Co. Ltd. (Japan), Valent Pharmaceuticals (Canada), Johnson & Johnson Vision (U.S.), Acadia Pharmaceutical (U.S.), Allostera Pharma (Canada), I-Med Pharma Inc. (Canada), Santen Pharmaceuticals Co. Ltd., (Japan), AFT pharmaceuticals (New Zealand), Novaliq GmBh (Germany), Auven therapeutics (U.S.) and others.
Dry Eye Syndrome Market Segmentation:
The Global Dry Eye Syndrome Market is segmented on the basis of the type, diagnosis, treatment, distribution channel and end user.
On the basis of the type, the market is segmented into evaporative dry eye syndrome aqueous dry eye syndrome, and others. On the basis of the diagnosis, the market is categorized into Schirmer test, eye exam, and others. On the basis of the treatment, the market is segmented into nutritional supplements, serum eye drops, lubricant eye drops, anti-inflammatory drugs segments, surgery, and others. The lubricant eye drops segment is sub-segmented into oily tear eye drops, ointments, preservative-free drops, and others. The anti-inflammatory drugs segments segement is sub-segmented into tetracyclines, corticosteroids, and others. The surgery segment is sub-segmented into punctal occlusion, intense pulsed light therapy, and others. On the basis of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. On the basis of the end users, the market is segmented into hospitals, clinics, home care, and others.
Dry Eye Syndrome Market Regional Analysis:
America dominates the global dry eye syndrome market. This can be attributed to the presence of a well-developed healthcare sector and a large patient population. Moreover, increasing healthcare expenditure boosts the growth of the American market. Additionally, the presence of the major market players like Johnson & Johnson Vision, Auven therapeutics, Acadia Pharmaceutical, and others within the region fuels the market growth.
Europe is the second largest dry eye syndrome market owing to increasing availability of funds for research, a well-developed healthcare sector, huge patient pool and growing geriatric population. According to the Saga in 2017, approximately 20% of people living in the U.K suffer from dry eye syndrome. Moreover, it was estimated that one in three people who age 65 or more within the region are diagnosed with this disease.
Asia Pacific is the fastest growing region for the market due to the presence of economies like India, China, Australia, and others. Moreover, huge patient population, rising healthcare expenditure boosts the market growth. According to the Australian Institute of Health and Welfare, the total Australian health expenditure from 2015 to 2016 was estimated to be about USD 170.4 billion.
The Middle East & Africa has the least share in the global dry eye syndrome due to the presence of poor economies, low per capita healthcare expenditure, stringent government policies, especially within the African region. The Middle East holds a majority of the market due to a well-developed healthcare sector and huge healthcare expenditure by the developed economies like Dubai, Kuwait, Dubai, and others.
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