Dry eye disease market is valued around USD 2796.8 Million in 2018 and expected to reach USD 3778.1 Million by 2025 with the CAGR of 4.7% over the forecast period. Increase in geriatric population and various environmental factors are the key drivers for Global Dry Eye Disease Market.
Dry eye disease is a disease caused due to the lack of tears or lubrication in eyes which led to the burning sensation and redness in eyes. These tears provide lubrication and each blink spread tears evenly and provide nourishment to the eyes. When the production and drainage of tears are not balanced then it leads to the dry eye disease. This condition is most common in older population and there are various environmental conditions which are responsible for such condition in young adults as well. The few symptoms experienced by the people suffering from dry eye disease are irritation, burning sensation, blurred vision and advanced stage may also lead to the vision impairment. So, during the study of global dry eye disease market, we have considered product type and distribution channel to analyze the market.
Global dry eye disease market report is segmented on the basis of product type, distribution channel and by regional & country level. Based upon product type, global dry eye disease market is classified as artificial tears, anti-inflammatory drugs, punctal plugs, and secretagogue. Based upon distribution channel, global dry eye disease market is classified as hospital pharmacies, independent pharmacies and drug stores and online pharmacies.
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The regions covered in this dry eye disease market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Dry Eye Disease is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Dry Eye Disease Market Reports–
Global dry eye disease market report covers prominent players like Santen Pharmaceutical Co., Ltd., Johnson & Johnson, Allergan plc, Shire plc, TRB Chemedica International SA, Mitotech S.A., Sun Pharmaceutical Industries Ltd., Senju Pharmaceutical Co., Ltd., Sentiss Pharma Pvt. Ltd., Valeant Pharmaceuticals International, Inc., Otsuka Pharmaceutical Co., Ltd., Novartis AG, FCI S.A.S. and others.
Increase in geriatric population and increasing approval for novel drugs
The commercialization and growth of global dry eye disease market over the past 25 years has been highly impactful. One of the major factors driving the growth of dry eye disease market over the forecast period is increase in geriatric population. Due to the weakening of muscles and glands in geriatric people, it is most common condition among them. As per Population Reference Bureau report, the number of Americans aged 65 and older are projected to more than double from 46 million today to over 98 million by 2060 and the 65-and-older age group’s share of the total population will rise to nearly 24 percent from 15 percent. Moreover, there is a constant increase in population and various other environmental factors which may affect the tear production and led to the dry eye disease. Furthermore, there are various research and development activities carried by major players which led to the development of novel drugs and devices for the treatment of this condition. Approval of such novel therapies is expected to foster the growth of dry eye disease market. However, lack of prescription drugs are expected to inhibit the growth of dry eye disease market over the forecast period.
North America is Expected to Dominate the Dry Eye Disease Market
North America dominates the market with highest market share over the forecast period due to the increased adoption of prescription drugs for dry eye disease and increase in the approval of various new drugs developed by the majr market players. Europe is expected to the second largest growing region over the forecast period due to the technological advancements and research and development activities which led to the development of new drugs and devices. Asia Pacific is expected to be the third largest and fastest growing region over the forecast period. Due to the increased awareness among people, large patient pool, increase in healthcare facilities and increase in per capita income are expected to promote the growth of dry eye disease market over the forecast period. Latin America, Middle East and Africa are expected to develop considerably over the forecast period.
Key Benefits for Global Dry Eye Disease Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Dry Eye Disease Market Segmentation –
By Product Type (Artificial Tears, Anti-inflammatory Drugs, Punctal Plugs, Secretagogue), By Distribution Channel (Hospital Pharmacies, Independent Pharmacies and Drug Stores, Online Pharmacies)
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