Dry Eye Disease Market was valued at US$ 5,206.1 Mn in 2021 and is forecast to reach a value of US$ 7,394.1 Mn by 2028 at a CAGR of 5.1% between 2023 and 2028 | VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical

Globally, the market for dry eye disease was priced at US$ 5,206.1 Mn in the year 2021and is predicted to the extent of US$ 7,394.1 Mn by the year 2028 at a CAGR of 5.1% from 2022 to 2028. The market for dry eye disease worldwide is witnessing a robust development due to the increasing prevalence of DED worldwide and rise in need for safe and accurate treatment. Furthermore, increase in emphasis on the growth of disease for dry eye treatments and development of geriatric/elderly population is anticipated to fuel the growth of the market. Still, certain issues like handiness of alternative therapies and the cost of the products for dry eye are anticipated to hinder the market growth.

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Global Dry Eye Disease Market: Regional Insights

On the basis of geography, the market for dry eye disease worldwide is divided into Asia Pacific, North America, Latin America, Europe and Middle East & Africa.

Amid regions, North America is anticipated to have the major market share in the market in the predicted period owing to the rising incidence of dry eye disease, rise in need for new tools in diagnosis, and rise in need for safe and accurate treatment in this region. For example, the state of dry eye disease is when tears fail to give the required lubricant to eyes. As per American Academy of Ophthalmology, about 20 million U.S. people and 344 million people across the world have DED, and the figure is increasing in both, young as well as old, creating it to be vital which the clinicians make out how well to treat it.

Europe and Asia Pacific are anticipated too, to experience a strong development in the market for dry eye disease worldwide due to the increasing prevalence of DED, rise in need for safe and accurate treatment, and promising government creativities. For example, generally, in Europe, the treatment for dry eye disease follows TFOS Dry Eye Workshop II recommendations. Though, the treatment and its diagnosis are different in the European countries owing to the issue of reimbursements and availabilities. Furthermore, the very new European Dry Eye Society give support to European researchers as well as to the clinicians to increase their knowledge in the region of dry eye and other ophthalmic diseases.

Global Dry Eye Disease Market Drivers_MI

Increasing prevalence of DED worldwide is anticipated to fuel the market growth of the dry eye disease worldwide in the predicted period. For example, DED is a type of multifactorial diseases around the ocular surface with homeostasis loss of the tear film and other ocular symptoms. According to the National Institute of Health (NIH), studies have revealed that around 344 million people worldwide and 16.4 million U.S. adults have some types of diseases of the dry eye. It is said that about 70% of dry eye disease cases are due to some kinds of evaporative dry eye, whose main cause is the Meibomian gland dysfunction (MGD).

Rise in need for sale and accurate treatment is anticipated to increase the market growth of the DED worldwide in the predicted period. For example, with the increase in incidence of dry eye disease, the need for sale and accurate treatment is rising with an increased pace. Sun Pharma Canada Inc. in January 2022 announced the introduction of a cyclosporine ophthalmic solution 0.09% w/v, Cequa, for the treatment of DED in Canada. It is the maiden treatment available for dry eye in Canada which helps in improving the bioavailability and physicochemical stability of cyclosporine to raise ocular penetration of tissue, as per Sun Pharma.

Global Dry Eye Disease Market Opportunities_MI

Rise in emphasis on the growth of the treatment of DED is anticipated to offer vital opportunities of growth for the companies in the market for dry eye disease worldwide. For example, owing to the increase in prevalence of DED worldwide, companies in the market are emphasizing on the growth and the launch of safe and accurate treatment that are available in the market. At the University of Illinois Chicago in February 2021, the researchers got a five-year, US$ 10.15 million contribution to grow a broad-spectrum immunomodulatory eye drop in treating people having severe dry eye disease and other ocular surface diseases owing to inflammatory disorder and immune system disorders.

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Increasing elderly population worldwide is anticipated to provide profitable opportunities of growth for the companies in the market of DED worldwide. For example, incidence of dry eye is mostly seen in the older people. As per the National Center for Biotechnology Information, the elderly people, both men and women are more twice likely to get the dry eyes disease than the younger generation. Among men, the incidence of dry is 3.90% with age ranging between 50-54 years in comparison to older men of age ranging 80 years and above is 7.67%. Furthermore, as per 2019 report in United States, the total number of people with age being 65 and above were 703 million, which is estimated to the extent to be 1.5 billion by the year 2050.

Global Dry Eye Disease Market Trends_MI

The main fashion pushing the development of the market growth of DED is the rise in R&D (research and development) activities for the growth of new treatment. Companies operating in the market and also the governments across the world are emphasizing on the growth and the launch of new treatments across the world to encounter increasing need. This tendency is anticipated to lasts in the predicted period, pushing the market growth of the dry eye disease worldwide.

Furthermore, the geriatric population including both men and women are twice prone to develop dry eye disease in comparison to younger population, rising the need for improved and more efficient treatment against DED which is anticipated to push the market growth. Increasing elderly population across the world is pushing the growth of the market since elderly population is more susceptible to many ophthalmic diseases, like DED. This tendency is anticipated too to last in the predicted period.

Global Dry Eye Disease Market Restraints_MI

Handiness of alternative therapies is anticipated to hamper the market growth of the dry eye disease. For example, many therapies are at present can be availed from the market in targeting dry eye disease linked ocular surface inflammation. Methods like acupuncture, using warm cloth to the eyelids, using mild soaps on the eyelids, and castor oil eye drops are used in dealing disease of dry eye. This is restricting the market growth.

The cost of the products for dry eye and the intricate scenario of reimbursement are anticipated to hamper the market growth of the dry eye worldwide. For example, dry eye disease and its average cost US$ 11,000 per person which is quite high or overall US$ 55 billion more to the U.S. economy. The cost for treating dry eye patients in the U.S. healthcare organizations is forecasted at US$ 700.000 per million patients. This is restricting the growth of the market.

Global Dry Eye Disease Market Segmentation_MI

Globally, the market for dry eye disease report is divided into Product, Distribution, Channel and Region.

On the basis of product, the market is divided into artificial tears, secretagogues, punctual plugs, anti-inflammatory drugs, and other products. Among which, the segment for anti-inflammatory drug is anticipated to control the market for DED in the predicted period and this is credited to the rising difficulties like inflammation amongst the population of patients.

The segment for secretagogues is anticipated to experience strong development in the coming future and this is due to the rise in incidence of DED. Secretagogues is a modern technique to treat diseases of dry eye and its related symptoms.

On the basis of distribution channel, the market is divided into drug stores, online pharmacies, independent pharmacies and hospital pharmacies. Among which, the segment for hospital pharmacies is anticipated to control the market in the predicted period and this accredited to the rise in incidence of patients in out-patents departments.

The segment for online pharmacies is anticipated too to experience substantial development in the coming future and this is due to the rise in approval of online pharmacies across the world.

 Global Dry Eye Disease Market: Key Developments

Kala Pharmaceuticals in January 2021, introduced the FDA (Food and Drug Administration) approved loteprednol etabonate ophthalmic suspension, EYSUVIS, for treating short term signs and indications of DED.

Sun Pharmaceutical Industries Ltd. in October 2019 pronounces that one of its many wholly-owned subsidiaries/companies commercialized cyclosporine ophthalmic solution 0.09%, CEQUA, for treating DED in the United States.

RegeneRx Biopharmaceuticals in February 2020 pronounced that GtreeBNT – the Korean partner of RegeneRx in the United States, for development of RGN-259 for treating DED, published an update on the U.S clinical trial-phase 3.

Global Dry Eye Disease Market: Key Companies Insights_MI

Globally, the market for dry eye disease is very much competitive in nature. This is accredited to the increase in safe and accurate treatment for dry eye disease; consequently companies in the market are emphasizing on the launch of new therapy alternatives in the market.

The main companies operating in the market for dry eye disease worldwide includes VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd., among others.

Table of Contents:

1. Research Objectives and Assumptions
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Purview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snapshot, By Product
     • Market Snapshot, By Distribution Channel
     • Market Snapshot, By Geography
   • Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Rising incidence/prevalence of dry eye disease across the globe
     • Availability of alternative therapies and high cost of dry eye products
     • Increase in focus on the development of dry eye disease treatment
   • Impact Analysis
   • Key Highlights
   • Regulatory Scenario
   • Product launch/Approvals
   • PEST Analysis
   • PORTER’s Analysis
   • Merger and Acquisition Scenario
4. Global Dry Eye Disease Market – Impact of Coronavirus (COVID-19) Pandemic
   • COVID-19 Epidemiology
   • Supply Side and Demand Side Analysis
   • Economic Impact
5. Global Dry Eye Disease Market, By Product, 2017-2028, (US$ Mn)
   • Introduction
     • Market Share Analysis, 2022 and 2028 (%)
     • Y-o-Y Growth Analysis, 2017 – 2028
     • Segment Trends
   • Artificial Tears
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Anti-Inflammatory Drugs
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Punctal Plugs
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Secretagogues
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Other Products
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
6. Global Dry Eye Disease Market, By Distribution Channel, 2017-2028, (US$ Mn)
   • Introduction
     • Market Share Analysis, 2022 and 2028 (%)
     • Y-o-Y Growth Analysis, 2017 – 2028
     • Segment Trends
   • Hospitals Pharmacies
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Independent Pharmacies and Drug Stores
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
   • Online Pharmacies
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)

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