The global dry eye syndrome therapeutics market is revised for its products, such as cyclosporine, oral corticosteroids, artificial tears, omega supplements, punctual plugs and others (include lid wipes, eye mask, specialized eye wares). Based on disease type, the market is studied for evaporation dry eye syndrome and aqueous dry eye syndrome. Lastly, the market is studied for North America, Europe, Asia-Pacific and Rest of the World.
Major drivers and restraints of the market
The market is driven by the increase in the overall prevalence of dry eye syndrome, which is attributable to a combination of several factors. In addition, the rising geriatric population across the world has led to a rise in the overall prevalence of dry eye syndrome, as tear glands weaken due to aging and can’t produce sufficient tear fluid to maintain a lubricating film over the eyes. Further, growing number of eye care centers prompting surge in product utilization coupled with the technological advancement and promising pipeline products is likewise projected that would drive the market size further. Moreover, many governments around the world are anticipated to keep up their strong support for medical research in the near future, which in turn indirectly benefit the global dry eye syndrome market. However, high cost of the speciality dry eye product and availability of alternative therapies are major restraint on the global dry eye syndrome market.
Cyclosporine accounts for the largest market share
Among the various products, cyclosporine was the highest contributor to the global market. This segment is anticipated to grow at a lucrative rate attributable to the wide use of the cyclosporine to treat dry eye disease. There are only few alternatives available which are as effective as cyclosporine. This in turn is helping the drug to hold strong dominance in the market.
By disease type, Aqueous DES is projected to be the highest of dry eye syndrome market
The global dry eye syndrome (DES) therapeutics market by disease is studied for evaporative dry eye syndrome and aqueous dry eye syndrome. Among these, the aqueous dry eye syndrome dominated the market in 2018 and its domination is expected to continue until the end of 2025. Whereas, the market for evaporative dry eye syndrome is also projected to increase rapidly during the forecast period. Over the years, the incidence of dry eye disease has become a common phenomenon affecting millions around the world. This provides the market a lucrative growth, besides rising healthcare expenditure and rising awareness among patients have created an environment conducive to the market’s growth
Large patient pool, increasing per capita health care expenditure, and increasing investment of key players in the market are fuelling the growth of the dry eye syndrome therapeutic products in North America.
Owing to the factors such as large patient pool suffering from dry eye disease and high adoption of prescription dry eye disease drugs in the U.S. coupled with the increasing number of approvals for new drugs and devices from the U.S. FDA and high investment by major players in the market are factors attributed to the dominance of North America region. Europe is the second major market for dry eye syndrome therapeutics. The strong performance of eye care markets such as standard and allergy eye care are recorded in Germany. Further, growing population and rising prevalence of allergies among European people is attributed to the growth of the market in this region. Asia Pacific is anticipated to gain market share during the forecast period owing to increasing per capita health care expenditure coupled with the large patient pool, and increasing investment of key players in this market.
The key competitors of this market include Allergan Plc, AFT pharmaceuticals, Akorn, Inc, Bausch Health Companies Inc, Rohto Pharmaceutical Co., Ltd., Similasan Corporation, I-Med Pharma Inc, Johnson and Johnson Vision care, Inc. (Johnson & Johnson), Medicom Healthcare, Alcon Laboratories, Inc. (Novartis AG), OASIS Medical, Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings), Reckitt Benckiser Group PLC, Santen Pharmaceutical Co Ltd, Scope Ophthalmics Ltd, Sentiss Pharma Private limited, Shire Plc, Thea Pharmaceuticals Limited, Bayer AG, Sun Pharmaceutical Industries Limited, among others.
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