Dry Eye Syndrome Market Likely to Register a CAGR of 4.8% During 2022-2027, Predicts GlobalData Plc

The latest market analysis report titled Dry Eye Syndrome Market by Product, Dosage Form, Distribution Channel, Region, and Segment Outlook 2022-2027 has been added to the report store by GlobalData Plc. The dry eye syndrome market growth will be driven by various factors including the rising aging population and increasing research & development of promising products in the pipeline. These factors have resulted in the dry eye syndrome market garnering a CAGR of 4.8% during 2022-2027.

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The dry eye syndrome market will also witness promising growth due to the growing prevalence of this condition across various regions. Furthermore, surging public-private initiatives leading to early diagnosis and treatment of dry eye syndrome will also emerge as one of the most prominent dry eye syndrome market trends during the upcoming years. However, the high cost of specialty dry eye products and alternative therapies are some of the most common factors expected to hinder market growth in the long run.

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Dry Eye Syndrome Market Segment Highlights

By Product

• Anti-inflammatory Drugs: Ophthalmic anti-inflammatories are a group of medications that are used to treat inflammatory eye conditions, such as allergic conjunctivitis, dry eye syndrome (keratoconjunctivitis sicca), non-infectious uveitis, and to treat eye inflammation after an ophthalmic surgery or procedure. Cyclosporine (CsA) is one of the major anti-inflammatory drugs used in dry eye syndrome. cyclosporine eye drops aids in increasing tear production in patients whose tear production is supposed to be blocked owing to ocular inflammation linked with keratoconjunctivitis sicca or dry eye.
• Artificial Tears
• Punctal Plugs
• Secretagogoues
• Others

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By Dosage Form

• Eye Drops and Solutions: The standard course of treatment for dry eye and other similar disorders is eye drops. Preservative or preservative-free, contact lens friendly, standard, or cross-linked Hyaluronic Acid (HA) drops are just a few of the many varieties available. Most eye conditions, such as dry eyes, pink eye, red eyes, or itching, can be treated with eye drops. Depending on the symptoms, one can decide which kind of eye drops will work best for oneself. The following eye symptoms, including dryness, redness, itching, pain, swelling, and discharge, can be relieved with eye drops.
• Gels and Ointments
• Capsules and Tablets

By Distribution Channel

• Hospital Pharmacy: Dry eye disease is among the most common eye conditions. Dry eye disease instances are on the rise as a result of the aging population and rising screen time among individuals. The market has witnessed initiatives for rising awareness of dry eye syndrome. For instance, Prevent Blindness has designated July as Dry Eye Awareness Month. In this month they provide free resources to providers and the public on dry eye. These free resources include shareable social media graphics and fact sheets about dry eye syndrome in languages such as Spanish and English. Such initiatives are expected to increase awareness among the population, which in turn will increase hospital visits. thereby accelerating hospital pharmacy growth during the forecast period.
• Retail Pharmacy
• Online Pharmacy

Regional Opportunities

• North America: For 2021, North America retained its position as the region with the largest market share, with 39.39%. North America leads the dry eye syndrome market in 2021, owing to its high prevalence of dry eye diseases and the easy accessibility to treatments in the region. In this multi-screen universe, individuals of all ages may be found to be affected by dry eye issues. Computer or digital screen usage may result in less blinking, which may lead to symptoms of dry eye illness, raising the demand for better and more effective disease therapies, which is predicted to fuel expansion in the market. Furthermore, the region’s ageing population is driving market expansion since they are more susceptible to ocular ailments such as dry eye syndrome.
• Europe
• Asia-Pacific
• ROW

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Dry Eye Syndrome Market Vendor Landscape

Key players operating in the dry eye syndrome market are more focused on organic growth strategies, especially product expansion and enhancement of existing products, in order to enhance their competitive position and gain further market share. The strategic acquisition is observed as the second most prominent key strategy adopted by players to enhance their presence or enter the market. Various big market players are making their way into the lucrative and rapidly growing dry eye syndrome market with the strategic acquisitions of emerging players. For instance, in November 2022, Novartis acquired U.S.-based Kedalion Therapeutics and its AcuStream technology. AcuStream is an innovative device with the potential to improve precision dosing and delivery of certain topical ophthalmic medications.

• Novartis AG: The company is a healthcare company that focuses on the discovery, development, manufacture, and marketing of prescription and generic pharmaceutical products and eye care products. The company provides Xiidra, a lymphocyte function-associated antigen-1 antagonist indicated for the treatment of dry eye disease.
• AbbVie Inc.: AbbVie Inc. is a specialty biopharmaceutical company, which discovers, develops, manufactures, and commercializes drugs for the treatment of chronic and complex diseases. The company’s key products include Restasis, Refresh, and Truetear. In February 2021, AbbVie introduced its new eye drop Refresh Digital. These lubricant eye drops are indicated for the management of eye dryness due to everyday screen use.
• Sun Pharmaceutical Industries Ltd: The company is a specialty pharmaceutical company that offers a wide range of pharmaceutical formulations such as branded generics and generic pharmaceuticals. The company’s portfolio includes products for the treatment of psychiatric, neurological, nephrological, gastroenterological, orthopaedic and ophthalmologic diseases and disorders, and heart diseases. The company’s key product Cequa is a calcineurin inhibitor immunosuppressant that helps in increasing tear production in patients with dry eye (keratoconjunctivitis sicca).

Some more companies covered in the report are:

• Johnson & Johnson (J&J)
• RegeneRx Biopharmaceuticals Inc.
• Bausch Health Companies Inc.
• Santen Pharmaceutical Co. Ltd.
• AFT Pharmaceuticals Pty Ltd
• Viatris Inc
• Alcon Inc

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