Global Dry Eyes Disease Treatment Market to be Driven by Growing Geriatric Population in the Forecast Period of 2022-2027
The new report by Expert Market Research titled, ‘Global Dry Eyes Disease Treatment Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the Global Dry Eyes Disease Treatment Market, assessing the market based on its segments like major products, distribution channel, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
- Historical Market Size (2021): USD 5.3 Billion
- Forecast CAGR (2022-2027): 5.7%
- Forecast Market Size (2027): USD 7.4 Billion
Market Overview (2017-2027)
The market is growing as people become more aware of the widespread occurrence of dry eye illness. Dry eye illness is becoming more common as the world’s population ages, especially in wealthy countries, fueling market expansion. Patients with underlying health issues such as lupus, diabetes, arthritis, and thyroid-related diseases are more likely to develop eye-related complications, such as dry eye disease, which is fueling industry growth. The increased reliance on technology for different important applications, particularly among the millennial and Gen-Z population, is leading to an increase in incidences of dry eye illness because of the strain produced by prolonged screen exposure, which is fueling industry growth.
Industry Definition and Major Segments
Dry eye illness is an ophthalmic ailment characterised by a lack of lubrication and moisture on the eye’s surface. Tear instability, which is a common cause of dry eye, can cause damage and inflammation to the eye’s surface. It is one of the most common eye-related problems, especially among the elderly. Artificial tears, anti-inflammatory medications including cyclosporin and corticosteroid, punctual plugs, and secretagogues are all options for treating the illness.
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On the basis of major products, the market is segmented into:
- Artificial Tears
- Anti-Inflammatory Drugs
- Punctal Plugs
On the basis of distribution channel, the market is divided into:
- Hospital Pharmacies
- Independent Pharmacies and Drug Stores
- Online Pharmacies
On the basis of region, the market is segmented into:
- North America
- Latin America
- Middle East and Africa
The development of numerous innovative treatments is driving the market growth of dry eye disease therapy. The market is predicted to increase due to rising research and development (R&D) operations by prominent businesses, which are leading to the development of medications for temporary relief from the symptoms of dry eye for patients with critical diseases. Furthermore, several ongoing clinical trials are expected to boost the dry eye disease therapy industry’s growth. The treatment for dry eye illnesses is expanding as healthcare access in poor and middle-income nations improves, which is expected to have a positive impact on market growth. Furthermore, rising approval of novel pharmaceuticals by various organisations such as the Food and Drug Administration (FDA) in the United States is expanding the availability of various therapies, which is expected to drive market expansion.
Key Market Players
The major players in the market are AbbVie Inc., Bausch and Lomb Incorporated, Johnson & Johnson Services, Inc., Santen Pharmaceutical Co., Ltd, OASIS Medical, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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