NEW
YORK, June 21, 2024 /PRNewswire/ -- The
global dry eye syndrome drugs market size is estimated to
grow by USD 2.13 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 6.16% during the forecast period.
Growing geriatric population is driving market
growth, with a trend towards advancements in drug
delivery technologies. However, less visibility into
reimbursement of ophthalmic disorder treatments poses a
challenge. Key market players include Abbott Laboratories, AbbVie
Inc., AFT Pharmaceuticals Ltd., Akorn Operating Co LLC, Bausch
Health Companies Inc., F. Hoffmann La Roche Ltd., GlaxoSmithKline
Plc, I MED Pharma Inc., Johnson and Johnson Services Inc.,
Laboratoires Thea, Mitotech SA, Novaliq GmbH, Novartis AG, Oasis
Medical Inc., Otsuka Holdings Co. Ltd., Santen Pharmaceutical Co.
Ltd., Sentiss Pharma Pvt. Ltd., Sun Pharmaceutical Industries Ltd.,
Viatris Inc., and Visufarma.
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Dry Eye Syndrome
Drugs Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.16%
|
Market growth
2024-2028
|
USD 2136.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.71
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
39%
|
Key
countries
|
US, UK, Japan, Germany,
and China
|
Key companies
profiled
|
Abbott Laboratories,
AbbVie Inc., AFT Pharmaceuticals Ltd., Akorn Operating Co LLC,
Bausch Health Companies Inc., F. Hoffmann La Roche Ltd.,
GlaxoSmithKline Plc, I MED Pharma Inc., Johnson and Johnson
Services Inc., Laboratoires Thea, Mitotech SA, Novaliq GmbH,
Novartis AG, Oasis Medical Inc., Otsuka Holdings Co. Ltd., Santen
Pharmaceutical Co. Ltd., Sentiss Pharma Pvt. Ltd., Sun
Pharmaceutical Industries Ltd., Viatris Inc., and
Visufarma
|
Market Driver
Dry eye syndrome drugs market is witnessing significant growth
due to advancements in drug delivery technologies. These
innovations include lipid-based formulations that mimic natural
tears, sustained release systems for controlled drug delivery, and
nanotechnology-based approaches for targeted drug delivery. These
advancements offer improved therapeutic outcomes, increased patient
comfort, and enhanced treatment adherence, addressing challenges of
traditional eye drops such as low bioavailability, poor patient
compliance, and inconsistent dosing.
The Dry Eye Syndrome market is witnessing significant growth due
to the increasing prevalence of this condition. Patients are
seeking treatment for symptoms such as dryness, discomfort, and
vision problems. Drugs like Cyclosporine, Dysfunctional Tear
Syndrome, and Relevas are gaining popularity. These drugs work by
increasing tear production and reducing evaporation. Prescription
drugs like Restasis, Xiidra, and Systane Irrigation are commonly
used. The market is driven by factors like an aging population,
increasing awareness, and technological advancements in drug
development. The future looks promising with new treatments like
Autupline and Marketechs in the pipeline. The market is competitive
with major players investing in research and development to offer
effective solutions to patients.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- The Dry Eye Syndrome Drugs Market faces challenges due to
limited visibility into reimbursements for treatments, particularly
in developed countries like the US. High insurance costs and
out-of-pocket expenses remain concerns. In developing economies
such as India and China, a large population lacks health
insurance coverage, making optimal treatment unaffordable.
Administrative burdens and declining reimbursements due to
government regulations hinder market growth during the forecast
period.
- The Dry Eye Syndrome market faces several challenges in the
development and implementation of effective drugs. Clinics and
research centers are focusing on new approaches, such as hormonal
treatments and artificial tears. However, the high cost of these
treatments and the challenge of creating long-term solutions
remain. Additionally, the need for continuous use of these drugs
and potential side effects, like blurred vision and dryness, are
concerns. The market also faces regulatory hurdles, as drugs must
undergo rigorous testing and approval processes. Despite these
challenges, companies are investing in research and development to
address the unmet needs of patients with Dry Eye Syndrome.
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challenges - Request a sample report!
Segment Overview
This dry eye syndrome drugs market report extensively covers
market segmentation by
- Distribution Channel
- 1.1 Retail pharmacies
- 1.2 Hospital pharmacies
- 1.3 Online pharmacies
- Product
- 2.1 OTC drugs
- 2.2 Prescription drugs
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Retail pharmacies- Retail pharmacies are
essential in distributing dry eye syndrome drugs to consumers,
providing easy access to over-the-counter and prescription
medications. These pharmacies, including independents, chains, and
drugstore retailers, stock a wide variety of dry eye treatments,
such as artificial tears, ointments, and gels. Pharmacists offer
guidance on medication selection and usage, catering to patients'
preferences for in-person assistance and personalized
recommendations. The retail pharmacy segment significantly
contributes to the global dry eye syndrome drugs market by ensuring
accessibility and convenience for patients.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Dry Eye Syndrome Drugs Market encompasses a range of
therapeutic options for managing Dry Eye Disease (DED), a common
condition characterized by tear film instability, inflammation, and
ocular discomfort. Autoimmune disorders, hormonal changes, and the
geriatric population are significant contributors to the prevalence
of DED. Ophthalmologists and optometrists in Eye Care Centers and
private practices provide clinical care for patients, utilizing
various treatments such as CEQUA therapy drug, nanodroplet
technology, and contact lenses. Alternative therapies, including
nutritional supplements and acupuncture, also play a role in
managing DED symptoms. Drug manufacturers are continually
developing new drugs and regulatory procedures to ensure drug
approval through clinical trials. Conditions like diabetes and
rheumatic diseases can exacerbate DED, further increasing the
demand for effective treatments. Blood composition imbalances may
also contribute to DED, necessitating ongoing research and
innovation in the Dry Eye Syndrome Drugs Market.
Market Research Overview
The Dry Eye Syndrome Drugs Market encompasses a range of
treatments designed to manage and alleviate the symptoms of dry eye
disease. These therapies include artificial tears, ointments, gels,
and prescription medications. The market for these drugs is driven
by the increasing prevalence of dry eye syndrome, particularly in
aging populations and those with certain health conditions.
Commonly used drugs include cyclosporine, lifitegrast, and
pilocarpine. The market is also witnessing the development of novel
therapies, such as autologous serum eye drops and scleral lenses,
which offer alternative treatment options for patients.
Additionally, the market is influenced by regulatory approvals,
pricing strategies, and competition among various drug classes.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Product
-
- OTC Drugs
- Prescription Drugs
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio