Dry Eye Syndrome Drugs Market Scope
An upsurge in the overall prevalence of dry eye syndrome and an increase in the use of contact lenses will help to boost the global dry eye syndrome drug market. Dry eye syndrome is medically known as keratoconjunctivitis sicca. It occurs due to the unsuitable formation of tears evaporating too speedily or a lack of tears to lubricate and nourish the eye. The symptoms of dry eye syndrome include pain, ulcers, scars on the cornea, and even loss of vision. A drop in the production of tears due to aging is the main cause of dry eye syndrome among the elderly. Upsurge in the prevalence of dry eye syndrome, and growth in the geriatric population will act as the key driver for the dry eye syndrome market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Novartis AG (Switzerland), Johnson & Johnson Vision Care (United States), Allergan plc. (Ireland), Otsuka Holdings Co., Ltd. (Japan), Santen Pharmaceutical Co. Ltd. (Japan), OASIS Medical (United States), Nicox S.A. (France), AFT Pharmaceuticals (New Zealand), Auven Therapeutics (United States) and Akorn, Inc. (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Dry Eye Syndrome Drugs market throughout the predicted period.
Novartis AG (Switzerland), Johnson & Johnson Vision Care (United States), Allergan plc. (Ireland), Otsuka Holdings Co., Ltd. (Japan), Santen Pharmaceutical Co. Ltd. (Japan), OASIS Medical (United States), Nicox S.A. (France), AFT Pharmaceuticals (New Zealand), Auven Therapeutics (United States) and Akorn, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Bausch & Lomb Incorporated (United States), Alimera Science (United States) and GlaxoSmithKline plc. (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Dry Eye Syndrome Drugs market by Type , by Application (Hospitals, Clinics and Household Use) and Region with country level break-up.
On the basis of geography, the market of Dry Eye Syndrome Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In November 2023, Thea launched Hylo-Dual, a combination product containing hyaluronic acid and carnosine, in the European market. Hylo-Dual is designed to both hydrate and protect the eyes from oxidative stress, potentially offering additional benefits for DES patients.
“The U.S. Food and Drug Administration's (FDA's) drug approval process has evolved from a system in which a drug could lawfully be marketed unless the FDA were able to prove that the manufacturer knew that the drug would not work for the conditions for which it was promoted to one in which drug makers require advance approval from the agency for almost every important step in testing, production, and marketing.”
Influencing Trend:
Rise in Use of Contact Lenses and Growth in Awareness about the Diagnosis and Treatment of the Disease
Market Growth Drivers:
High Prevalence of Lifestyle Disorders That Increase the Chances of Contracting Dry Eye Syndrome, Increase in Geriatric Population and Increasing Number of Lifestyle Diseases
Challenges:
Stringent Regulatory Process for Drug Approval
Restraints:
Growing Popularity of Self-Medication and The Expiration of Patents on Major Drugs Used In the Treatment of Dry Eye Syndrome
Opportunities:
Growth in Government Expenditure for Dry Eye Syndrome Drugs and Medical Research and Rising Demand In Untapped Market In The Developing Countries
Key Target Audience
Drug Developers, Suppliers and Manufacture’s, Government Regulatory Bodies, Government and Private Research Institutes and Others