Dry Eye Syndrome Market Overview
The dry eye syndrome is a condition of the eye in which tear production reduces drastically and symptoms such as irritation, light sensitivity, and others manifest. However, the healthcare sector is making notable progress in their bid to invent cure for the disease. This drive from the healthcare sector is bound to take the dry eye syndrome market Research report to the next level. The global dry eye syndrome market Share is anticipating a CAGR of 5.31% during the forecasted period (2022-2030), as revealed by Market Research Future (MRFR) in their latest article on the market.
The global Dry Eye Syndrome Market is expecting traction from disease like diabetes which spur the malfunctioning in the eye. At the same time, FDA’s clearance of new drugs and companies taking initiative to take the market forward through innovation can be a boon for the market in the coming years. The market can ride on some additional benefits such as increasing per capita income and growing awareness to make the market more lucrative.
The global Dry Eye Syndrome market is experiencing significant growth, driven by several factors. With a rise in digital device usage, environmental factors, and an aging population, the prevalence of dry eye syndrome has surged. This has led to a heightened demand for innovative treatments and therapies.
Pharmaceutical companies are focusing on research and development to introduce novel therapies, including artificial tears, anti-inflammatory drugs, and prescription medications. Additionally, the market is witnessing a surge in awareness campaigns and educational initiatives to inform individuals about the condition.
As the market continues to expand, it presents opportunities for stakeholders to develop advanced treatments and address the unmet needs of millions of dry eye sufferers worldwide.
Competitive Analysis
Major industry participants in the global dry eye syndrome market Players include Allergan, Otsuka Pharmaceutical Co. Ltd., Novartis AG, Acadia Pharmaceutical, I-Med Pharma Inc., Allostera Pharma, AFT pharmaceuticals, Johnson & Johnson Vision, Valeant Pharmaceuticals, Santen Pharmaceuticals Co. Ltd., Auven therapeutics, Novaliq GmBh, and others.
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Segmentation
The global dry eye syndrome market Report is segmented by type, diagnosis, treatment, end-user, and distribution channel.
By type, the market is segmented into aqueous dry eye syndrome, evaporative dry eye syndrome, and others.
By diagnosis, the market is categorized into Schirmer test, eye exam, and others.
By treatment, it is segmented into surgery, nutritional supplements, anti-inflammatory drugs segments, serum eye drops, lubricant eye drops, and others. Lubricant eye drops segment is sub-segmented into preservative-free drops, oily tear eye drops, ointments, and others. Tetracyclines, corticosteroids, and others are sub-segments within the anti-inflammatory drugs segments segment. The surgery segment is further divided into intense pulsed light therapy, punctal occlusion, and others.
By distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, online pharmacies, and others.
By end-users, the market is segmented into home care, hospitals, clinics, and others.
Regional Analysis
Asia Pacific (APAC), North America, Europe, and the Middle East & Africa (MEA) are regions taken into consideration in the compilation of the global dry eye syndrome market report.
The Americas are expected to dominate the global market due to a well-developed healthcare sector and a large patient pool. The large healthcare expenditure and presence of major pharmaceutical companies such as Acadia Pharmaceutical, Auven Therapaeutics, Johnson & Johnson, and others are factors primed to bolster the market demand in the region.
Europe is the second-largest region due to the large geriatric populace, huge patient pool, funds for research and development, and well-defined healthcare framework. According to Pratiques en Ophtalmologie, the probability of dry eye increases in patients between the range of 40 to 65.
The APAC region is touted to exhibit a stellar growth rate due to the huge patient pool in economies of Australia, India, China, and others. On the other hand, the MEA region has the lowest market share but can enjoy a significant growth rate during the forecast period. The large healthcare expenditure of economies of Saudi Arabia, Kuwait, Dubai, and others as well as the well-developed healthcare sector
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