Global Dry Eye Medication Market Size 2024, Forecast To 2033
11 Mar, 2024
The dry eye medication market has undergone rapid expansion, increasing from $9.74 billion in 2023 to $10.93 billion in 2024, displaying a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to the aging population, the rising number of contact lens users, an increase in disposable income, a rise in the number of treatment options, an increase in the prevalence of allergies, a rise in consumption of unhealthy or improper diets, and the prevalence of diabetes mellitus. Looking ahead, the market is expected to experience rapid growth, projecting to reach $16.93 billion in 2028, with a CAGR of 11.6%. The anticipated growth in the forecast period is driven by factors such as the increasing prevalence of laser surgeries, rising screen time, busy lifestyles, the growing burden of diabetes, an increase in the prevalence of dry eye disease, a promising pipeline for dry eye disease, and the side effects of other medications. Notable trends in the forecast period include the development of preservative-free eye drops, investments in the research and development of new and advanced drugs, the development of innovative drugs to stay competitive, the creation of non-steroidal anti-inflammatory ophthalmic drugs for the treatment of dry-eye syndrome, a focus on incorporating modern techniques, and the development of combination therapies for the treatment of dry eye diseases.
Global Dry Eye Medication Market Key Driver
The dry eye medication market is witnessing growth attributed to the rising prevalence of dry eye disease and the subsequent demand for treatment. Various factors, including aging, vitamin A deficiency, lens wear, eye surgeries, exposure to dry wind or smoke, and prolonged screen time, contribute to the increased occurrence of dry eye. A survey by the American Academy of Ophthalmology highlighted the impact in the USA, with nearly 3.2 million women and 1.68 million men over the age of 50 affected by dry eye syndrome. Similarly, a study in the Northern part of India indicated a 32% prevalence of dry eye disease. The escalating prevalence of this condition is expected to drive the demand for its treatment, fostering the growth of the dry eye medication market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Dry Eye Medication Market ReportGlobal Dry Eye Medication Market Segments
The dry eye medication market covered in this report is segmented –
1) By Type Of Product: Aqueous, Evaporative, Aqueous and Evaporative
2) By Delivery System: Liquid, Gel, Ointment, Other Delivery System
3) By Prescription Type: OTC Drugs, Prescription Drugs
4) By End-User: Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies
By Geography:The regions covered in the dry eye medication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the dry eye medication market in 2023. Middle East is expected to be the fastest-growing region in the global dry eye medication market share during the forecast period. The regions covered in the dry eye medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Dry Eye Medication Industry Players
Allergan plc, Alcon Inc., Bausch Health Companies Inc., Novartis AG, Otsuka Holdings Co. Ltd., Santen Pharmaceutical Co., Ltd., Sentiss Pharma Pvt. Ltd., OASIS Medical, Inc., VISUfarma B.V., Sun Pharmaceutical Industries Limited, Bayer AG, Pfizer, Johnson & Johnson, Daiichi Sankyo, Zhaoke Ophthalmology Pharmaceutical, Shanghai Pharmaceutical, ERC Labs, Vision gain, Medicom Health care, Implandata ophthalmic products GmbH, The Geuder Group, Novamedika, Aflofarm Farmacja Polska, VUAB Pharma Inc., Endo International plc, Aurinia Pharmaceuticals Inc, Herzig Eye Institute, Thomas Eye Group, Alimera Sciences, Eyegate, Neurotech, Opthotech, Eyepoint pharmaceuticals, ReGenTree, LLC, Regenerx Biopharmaceuticals Inc, shire, Gama Vision, Biolab Pharma, Mitotech, Novaliq GmbH, Horus Pharma, Prestige Consumer Healthcare Inc., Bausch & Lomb Incorporated, Azura Ophthamics Ltd, Similasan, Hoya Corporation, Adcock Ingram.
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Dry Eye Medication Market Overview
Dry eye medication refers to the drugs or medication that is used to treat dry eye by increasing your eye moisture. A multifactorial condition of the tears and ocular surface known as dry eye causes symptoms such as pain, blurred vision, and tear film instability, as well as the possibility of ocular surface injury.
Dry Eye Medication Global Market Report 2023 provides data on the global dry eye medication market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The dry eye medication market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.