Dry Eye Disease Market Report

Market Insights

The Dry Eye Disease Market is estimated to grow from USD 4.9 billion in 2020 to USD 6.9 billion by 2026 at a healthy CAGR of 5.9% during the forecast period.

Fig.: Dry Eye Disease Market Size, 2020-2026 (USD Billion)

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What is Dry Eye Disease?

Dry eye disease is defined as the disturbance of the lacrimal functional unit that comprises the ocular surface, lacrimal glands, and lids, as well as the sensory & motor nerves which connects them. There are several ocular manifestations, where several dry eye treatment products are employed. Various symptoms of dry eye include sore eyes, aching and burning sensations, fatigued eyes, red eyes, itchy eyes, and photophobia, among others.

Covid-19 Impact Analysis

The outbreak of COVID-19 moderately affected the dry eye disease industry. The disruption of healthcare systems by posing many challenges, such as the practice of ophthalmology. Also, urgent as well as vital treatments were being allowed in many countries. The American Society of Retina Specialists released measures to help retina practices as well as medical personnel reduces the risk and assure the health & safety of the patients amid the pandemic.

Key Players

Key players operating in the global Dry Eye Disease Market are-

• AbbVie Inc (Allergan PLC) (US)
• AFT Pharmaceuticals (New Zealand)
• Akorn
• Alcon Inc. (Switzerland)
• Bausch Health Companies Inc. (Canada)
• Horus Pharma (France)
• Johnson & Johnson
• Mitotech (Luxembourg)
• Novaliq GmbH (Germany)
• OASIS Medical (US)

Market Dynamics

The Dry Eye Disease market is primarily propelled by decrease in the supportive hormones, aging, ocular surface diseases, systemic inflammatory diseases, and surgeries which affect the cholinergic nerves that stimulate tear secretion, are associated with the rise in dry eye-related diseases. Also, several diseases, such as thyroid disorders, diabetes, lupus, Sjogren’s syndrome, rheumatoid arthritis, scleroderma, etc., are further resulting in high prevalence of dry eyes among people. Moreover, growing awareness levels, increasing diagnostic rates, and better treatment options further bolsters the market growth.

Segment’s Analysis

Product Trends

Based on product, the dry eye disease market has been classified into artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, and others. The artificial tears segment accounted for the largest market share in 2020. Artificial tears, help tear film work efficiently to protect the eyes’ surface. Preservative-free eye drops have gained impetus as they have lesser additives and can be recommended for people with severe to moderate dry eyes.

Regional Trends

By region, the North America Dry Eye Disease market accounted the highest share in 2020 and is expected to grow at a robust CAGR during the review period. The Dry Eye Disease market growth is mainly attributed to the rising presence of major companies. Also, ophthalmic consultation using advanced technologies is likely to gain impetus across the U.S. and Canada. The U.S. Centers for Medicare & Medicaid Services announced temporary regulatory waivers and issued new rules for virtual visits using online applications for telemedical services.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global dry eye disease market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the global dry eye disease market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global dry eye disease market?
• What are the key strategies adopted by the major vendors to lead in the global dry eye disease market?
• What is the market share of the top vendors?

Target Audience

The target audience of Dry Eye Disease Market includes-

• Dry Eye Disease Vendors
• Dry Eye Disease Manufacturers
• Dry Eye Disease Distributors
• Organizations
• Government Bodies.

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