Global Dry Eye Medication Market

Acne Drugs Market Definition

The acne drugs market consists of sales of prescription acne drugs (Salicylic acid, Retin-A Micro, Onexton, and Solodyn) and related OTC non-prescription products (cleansers, lotions, gels, toners, masks and pads containing acne drugs-fighting ingredients) which are used to treat skin diseases such as acne drugs vulgaris and acne drugs rosacea. Market in this report does not include the sales of drugs used for dermatitis and psoriasis. The global acne drugs market size is expected to grow from $5.03 billion in 2021 to $5.36 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%.The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global acne drug market is expected to reach $6.55 billion in 2026 at a CAGR of 5.2%. An increase in the disposable income of people is one of the major drivers in the acne drugs market. An increase in the disposable income is usually due to an improved economy leading to increased wages and salaries boosting healthcare expenditure. According to the Office For National Statistics (UK), in 2020, the average household disposable income in UK was £30,800 ($37,830), an increase of 2.3% from 2019. Rise in disposable income increased expenditure on facial care products is expected to continue, thereby driving the market in the forecast period. Acne is a major problem worldwide; close to 90% of people suffer from some sort of acne. In America alone, close to 12 million people suffer from a severe acne problem, that can lead to scarring of the skin if left untreated, as a result many people purchase acne care drugs and products. The presence of alternatives for acne treatment is one of the restraints on the acne drugs market. Due to availability of multiple alternatives, patients tend to choose one amongst many options on the basis of price, side effects, duration and many more. This increases the competition and hence, the competition cuts down a significant portion of business for the acne drugs market. For example, some of the alternatives for the acne drugs treatment apart from acne drugs are Ayurveda, home remedy, laser and photodynamic therapy and extraction of whiteheads and blackheads using special tools like needles and forceps. Combination therapy is the latest trend in the acne drugs market. Combination therapy is the process of combining two drugs with different mechanisms of action, such combinations of medication have a better efficacy and adherence when compared with monotherapy (the use of only a single drug by itself). The combination of a topical retinoid drug, which unclogs the pores, along with an antimicrobial drug, which is used to treat an infection is being used to treat acne drugs. Example of combination therapy includes: Epiduo, Acanya, Ziana and Benzamycin produced by Galderma, Allergan, Medicis and Atrix respectively. The stringent regulations concerning the usage of drugs to treat acne has an impact on the acne drugs market. The regulations have become stringent due to the various side-effects and adverse events caused during the course of treatment. In India, the Central Drugs Standard Control Organization (CDSCO) has issued a warning regarding the safety guidelines concerning the use of the oral drug, Isotretinoin. The CDSCO has directed the State and Union Territories’ drugs controllers to check the labeling of Isotretinoin drug and make the end users aware of the serious birth defects the drug may cause. Further, the Subject Expert Committee (SEC) for Dermatology and Allergy has recommended that the drug should be sold only on the prescription of a dermatologist, manufacturers should provide a package insert in local languages and the retail chemists should maintain the details of retail sale of the drug. Hence, these strict guidelines and regulations would impact the growth of acne drugs market. In March 2019, Allergan acquired Envy Medical Inc. at an undisclosed price. This deal will help Allergan reinforce their goal towards providing customers with enhanced skin care solutions. Envy Medical's technology used in skin resurfacing procedures like Dermalinfusion, which is a non-surgical, non-invasive skin resurfacing system will immensely help Allergan gain a strong presence in the acne drugs market. Allergan plc is a pharmaceutical company established in 1948 and headquartered in Dublin, Ireland. Major players in the acne drugs market are Allergan plc, Galderma S.A., Valeant Pharmaceutical International Inc., Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services Inc., GlaxoSmithKline Plc., Bayer AG, Stiefel Laboratories Inc., Ranbaxy Laboratories Limited, Pfizer Inc., Sun Pharmaceutical Industries Limited, Mayne Pharma Group Limited, Mylan N.V., Cipher, Daiichi Sankyo Company, Ltd, Guthy-Renker LLC, Medicis Pharmaceutical Corporation, Foamix Pharmaceuticals, BioPharmX, In, Roche Holding AG, F. Hoffmann-la Roche Ltd, Anterios Inc., AndroScience, Oculus Innovative Sciences, Aqua Pharmaceuticals, Skinvisible Pharmaceuticals and Prestium Pharma Inc. North America was the largest region in the acne drugs market in 2021. The Middle East is expected to be the fastest growing region in the global acne market during the forecast period. The regions covered in the global acne medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the acne drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global acne drugs market is segmented - 1) By Type: Inflammatory Acne Drugs, Non-Inflammatory Acne Drugs 2) By End-User: Hospitals and Clinics, Pharmacies and Drug Stores, Ambulatory Surgical Centres 3) By Therapeutic Class: Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide

The dry eye medication market consists of sales of dry eye medications (drugs) to reduce eyelid inflammation, redness, cornea inflammation, and tear-stimulating drugs. The main types of dry eye medication are aqueous dry eye syndrome, evaporative dry eye syndrome. Dry eye syndrome is a frequent problem that arises when the tears aren't able to keep the eyes lubricated enough. Tears may be insufficient and unstable for a variety of causes. The different types of products include liquid drops, gel, liquid wipes, eye ointment and is used by hospital pharmacies, eye health clinics, retail pharmacies, online pharmacies. The global dry eye medication market size is expected to grow from $7.63 billion in 2021 to $8.62 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global dry eye market size is expected to reach $13.27 billion in 2026 at a CAGR of 11.4%. The increased number of cases for dry eye disease results in an increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one’s eyes to screens for a long duration increase the occurrence of dry eye more likely. For example, a survey conducted by the American Academy of Ophthalmology reported that in the USA, nearly 3.2 million women and 1.68 million men, over the age of 50 were affected by dry eye syndrome. Similarly, a study conducted by Indian Journal Ophthalmology indicated a 32% prevalence of dry eye disease in the Northern part of India. the rising prevalence of the disease would increase the demand for its treatment and ultimately facilitate the growth of this market. The market for dry eye medication is restricted by the long approval process that is undertaken before any drug is approved by the concerned authority. The standard protocol for testing any new drug demands a series of tests and trials including laboratory tests, animal model tests, and clinical trials. Most drugs fail during clinical trials and only a small percent of them successfully move forward. The cumbersome process of obtaining approvals takes a longer duration of time and restricts the growth of this market. For example, in 2020, Eysuvis, a drug that addresses the short-term treatment needs of patients living with dry eye disease, was approved by the Food and Drug Administration (FDA) after its safety and effectiveness were assessed on more than 2900 patients with the disease in different clinical trials. Similarly, Kissei Pharmaceutical announced to discontinue the development of the KCT-0809 drug after it failed to pass the 3rd phase of clinical trials. Treatment for dry eye disease improved with the incorporation of modern techniques that helped invent advanced hyaluronic acid-based lubricants and lipid emulsions. This technology replaces artificial tears that include isotonic sodium chloride and provides long-lasting lubrication on the surface of the eye. For instance, Allergan, a global pharmaceutical company, launched Refresh Repair Lubricant Eye Drops which are designed to repair and protect the eyes from dry eye disease and improve the clarity of vision and is formulated with carboxymethylcellulose (CMC), hyaluronic acid, and osmoprotectants. These components maintain the health of the ocular surface and safeguard epithelial cells. Advances in technology will have a positive effect on the market. The dry eye medication market is strictly regulated by government agencies such as USFDA (Food and Drug Administration), the European Medicines Agency (EMA), and others. For instance, in the USA, FDA evaluates and approves the drugs meant for dry eye treatment. According to Section 201(g) of the FDA and CFR (Code of federal regulations) act, the licenses are granted to the drug manufacturing companies allowing them to sell only those drugs that are safe and clinically effective. FDA demands a number of tests and several clinical trial rounds before granting such approvals. For example, in January 2019, FDA approved Kala Pharmaceuticals eye-related drug called INVELTYS. In 2019, Takeda, the largest pharmaceutical in Asia acquired Shire plc for $62 billion. This acquisition expands Takeda's portfolio which is strengthened by innovative drugs to different therapeutics including dry eyes and has expanded the geographic footprint of the company in Japan and the USA. Shire was founded in 1986 and is headquartered in Massachusetts, USA. Shire develops medicines that aim to improve the patient's quality of life. Major players in the dry eye medication market are Novartis, Allergan, Otsuka, Santen Pharmaceutical, Auven Therapeutics, Akorn, Valent Pharmaceuticals, Johnson and Johnson Vision, Alcon and Bausch & Lomb. North America is the largest region in the dry eye medication market in 2021. The Middle East is expected to be the fastest growing region in the global dry eye medication market during the forecast period. The regions covered in the global dry eye medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the dry eye medication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global dry eye medication market is segmented - 1) By Type: Aqueous Dry Eye Syndrome, Evaporative Dry Eye Syndrome 2) By End-User: Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies 3) By Product Type: Liquid Drops, Gel, Liquid Wipes, Eye Ointment

The medical feed additives market consists of sales of medical feed additives and related services to prepare complete food for animals. Medical feed additives help improve the nutritional content and quality of feed, results in better productivity, and prevent animals from diseases. The medical feed additives industry includes companies that produce animal feed additives such as vitamins and probiotics, preservatives, antioxidants, digestibility enhancers, gut flora stabilizers, and others. The main types of medical feed additives are antioxidants, antibiotics, probiotics and prebiotics, enzymes, amino acids. The antioxidants refer to the feed additives that are fed to the animals for nutrition. The different mixtures include supplements, concentrates, premix feeds, base mixes. The various classes include typing a type b, type c. These are used by the different livestock such as ruminants, poultry, swine, aquaculture. The global medical feed additives market size is expected to grow from $13 billion in 2021 to $14.48 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The global medical feed additive market size is expected to grow to $20.86 billion in 2026 at a CAGR of 9.6%. An increase in the prevalence of diseases among animals is driving the growth of the medicated feed additives market According to the estimates from a report by the Animal and Plant Health Agency, a total of 3289 new TB herd incidents were detected in England. A new herd incident is a case of bovine TB that occurs as a result of a herd or individual animal test performed in an officially TB-free (OTF) herd during the study period. Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals causing illness, coughing, and eventual death. Moreover, according to the reports, the herd incidence rate in England for the 12 months to end September 2020 was 9.4. The additives help prevent animals from diseases alongside increasing the nutrition level of the feed thereby increasing demand for feed additives. The overuse and inappropriate use of antibiotics in medical feed additives impact the health of individuals consuming animal meat or other related products. Moreover, the health of the animal consuming the feed may also be adversely affected by the antibiotics added to the feed as the excess additive reduces the natural immunity of the animal and increases the susceptibility of the livestock to infections. For instance, in July 2020, the Ministry of Agriculture and Rural Affairs in China, under Announcement No. 194 banned the production of commercial feed with medicated feed additives (excluding traditional Chinese medicine) for growth-promoting purposes The negative effects of additives on human health caused due to overuse of feed additives in animals will restrain the growth of the market. Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of a combination of two or more medicated feed additives. More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product. For instance, Zoetis, a global health company got the approval for its Cyden and Lincomix combination feed additive from the FDA (Food and Drug Administration) and is proposed to be used as a medicated feed additive for poultry. Also, the FDA-approved combination of Zoetis’ feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGINE (ractopamine hydrochloride) makes more lean muscle and less fat while optimizing feed efficiency. The medical feed additives market is regulated by government agencies that lay down regulations to be followed by all the manufacturers of veterinary medicines. For instance, the Veterinary Medicines Regulations (VMR) 2013 makes provision for the authorization, manufacturing, and classification of veterinary products including medicated feed additives. The Schedule 5 under EU guidelines covers medicated feeding stuff and specified feed additives which specify guidance to both manufacturers and suppliers of veterinary medicines for incorporating it into animal feed as well as to veterinary surgeons, animal keepers, and other members involved in the use of veterinary medicines and SFAs(Specified Feed Additives)in animal feeding stuff. In February 2019, Archer Daniels Midland Company (ADM), an American global food processing and commodities trading company acquired Neovia for $1.74 billion (€1.544 billion). This acquisition helps ADM to become a global leader in animal nutrition products and services with Neovia adding a wide range of products to the former company’s portfolio including pet care, additives, aquaculture, and livestock feed which would, in turn, boost the growth of the company. Neovia is headquartered in France was established in 1954 and manufactures and distributes various biologically degradable disinfectants along with feed additives for plants and animals. Major players in the medical feed additives market are Zoetis Inc., Cargill, Incorporated, CHS Inc., Purina Animal Nutrition, Archer Daniels Midland Company, Adisseo France Sas, Alltech Inc., Hipro Animal Nutrition, BASF SE, Biostadt India Limited. North America was the largest region in the medical feed additives market in 2021. Asia-Pacific was the second-largest region in the global medical feed market. The regions covered in the global medical feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical feed additives market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, and USA. The global medical feed additives market is segmented - 1) By Type: Antioxidants, Antibiotics, Probiotics and Prebiotics, Enzymes, Amino Acids 2) By Livestock: Ruminants, Poultry, Swine, Aquaculture 3) By Mixture Type: Supplements, Concentrates, Premix Feeds, Base Mixes 4) By Class Type: Type A, Type B, Type C

The medical lasers market consists of sales of medical lasers and related services by entities (organizations, sole traders, and partnerships) that manufacture medical lasers. Medical lasers are devices that treat or remove tissues using precisely focused light sources. Medical lasers find their applications in several surgical procedures including eye surgery, cosmetic surgery, dental procedures, and other general procedures. The main type of medical lasers is solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. The solid-state laser system is a laser system that uses a gain medium as a solid instead of liquid as in dye lasers and gas as in gas lasers. The applications involved are surgical, cosmetic, and dental. The end-users involved are ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and other The global medical lasers market size is expected to grow from $4.84 billion in 2021 to $5.56 billion in 2022 at a compound annual growth rate (CAGR) of 14.9%. The global medical laser market size is expected to grow to $9.31 billion in 2026 at a CAGR of 13.7%. The increased demand for minimally invasive procedures contributed to the medical lasers market’s growth during the period. The surge in aesthetic and cosmetic procedures propelled the demand for minimally invasive surgeries worldwide. According to the article published by Beautynews in April 2021, the number of facial plastic surgery procedures in the USA in 2020 is approximately 56,084 and the one was the brow lift procedure is nearly 31,404. Thus, the high usage of medical lasers to perform minimally invasive aesthetic and cosmetic surgeries increases the demand for medical lasers. The high cost of surgeries limits the growth of the medical lasers market. The high cost of treatments involving medical lasers limited the adoption and demand for lasers used to perform minimally invasive surgeries. For instance, the average cost of LASIK surgery performed in the USA was $2,246 per eye in 2019. Therefore, the high and increasing cost of surgeries is likely to act as a restraint to the growth of the medical lasers market. Major players operating in the market are focusing on developing new innovative products with advanced techniques to serve the healthcare professionals and their patients better. For instance, in April 2019, Lumenis Ltd., an energy-based medical device company based in Israel, introduced Legend Pro+, a new skin rejuvenating technology and a unique multi-application platform powered by clinically proven and complementary technologies. Similarly, in July 2019, Ra Medical Systems, a USA-based medical laser company, announced the launch of Pharos, a new dermatology excimer laser for the treatment of psoriasis, atopic dermatitis, and vitiligo. Pharos offers better comfort and visibility of the treatment site and is designed to improve physician and patient experience. In December 2019, Lumibird Group (Quantel Medical), a France-based company that specializes in medical lasers, announced the acquisition of Ellex’s laser and ultrasound business for $69 million. The acquisition is expected to expand Lumibird Group’s product portfolio with Ellex’s laser and ultrasound technologies for the diagnosis and treatment of ocular diseases. Both companies focus on strengthening the portfolio for diagnostic devices including ultrasound and laser products. Ellex is an Australia-based company engaged in manufacturing ophthalmic lasers and ultrasound systems. Major players in the medical lasers market are El.En. S.p.A, Ellex Medical Lasers Ltd, Lumenis, Alcon Laboratories Inc, AngioDynamics Corp, American Medical Systems Inc, Biolase Inc, Bausch & Lomb Holdings, Cardiogenesis Corporation Inc, and Boston Scientific. North America was the largest region in the medical lasers market in 2021. Asia Pacific was the second largest region in the global medical lasers market during the forecast period. The regions covered in the global medical laser market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the medical lasers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global medical lasers market is segmented - 1) By Product Type: Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems 2) By Application: Surgical, Cosmetic, Dental 3) By End-Use: Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, Others

The medication adherence market consists of sales of medication adherence hardware systems and software applications. Medication adherence systems check if a person follows medication recommended by a healthcare provider, whether patients take their medications as prescribed, as well as whether they continue to take a prescribed medication. Medication adherence hardware and software help medical personnel with the patient’s intake to prescribed medication to reduce cases of worsening disease and deaths and decrease healthcare costs. The market consists of revenue generated by the companies manufacturing the medical adherence hardware systems and software solutions by the sales of these products. The main types of medication adherence are hardware-centric and software-centric. Medication adherence products that are software-centric are a collection of programmes or applications which monitor, record, and notify the individual and his or her caregiver about their medication compliance. The different medications include cardiovascular, central nervous system, diabetes, oncology, respiratory, gastrointestinal, rheumatology, others and are used in various applications such as hospital, retail pharmacies, long-term care facilities, mail-order pharmacies. The global medication adherence market size is expected to grow from $2828.08 million in 2021 to $3181.58 million in 2022 at a compound annual growth rate (CAGR) of 12.5%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The medication adherence market is expected to reach $4847.6 million in 2026 at a CAGR of 11.1%. The increasing requirement for medication adherence solutions to overcome poor adherence to prescribed medication in the healthcare industry is projected to boost the demand for medication adherence solutions. According to a study published by The Journal of Allergy and Clinical Immunology, in Practice, there has been an increase in controller inhaler use between January and March 2020 by 14.5% where, Propeller Health, a digital platform that tracks the inhaler consumption was used to send alerts to the patients when it is missed. Non-adherence to medication increases cost urging the patients to use medication adherence to treat the problem effectively, thereby generating higher demand for medication adherence solutions. Inadequate healthcare infrastructure in developing countries is predicted to hinder the growth of the medication adherence market. According to the World Economic Forum’s publication dated 25th November 2019, every year approximately 6 million people die from low-quality healthcare in developing countries. Moreover, according to a report by the National Academies of Sciences, Engineering and Medicine, poor quality healthcare kills 5.7 million to 8.4 million people in Low and Middle-Income Countries (LMIC) annually and it is responsible for 15% overall deaths in LMIC. The poor infrastructure wedges the gap between the patient and the system restraining the growth of the medication adherence market. Major players are undertaking strategic initiatives such as partnerships and business expansions in untapped regions, which is likely to be a major trend in the medication adherence market. For instance, in October 2019, Royal Philips and Spencer Health Solutions expanded its partnership and announced the launch of in-home medication adherence & telehealth platform in Europe. The collaboration aimed at a successful partnership for providing medication adherence solutions to high-acuity patients in the USA and Europe. Beginning with the Netherlands in the fourth quarter of 2019, Spencer Smart Hub is launching in selected markets such as Austria, Belgium, Germany, Luxembourg and Switzerland in Europe. In September 2019, TrailCard Incorporated, a customized patient access solutions provider, acquired Mango Health for an undisclosed amount. Through this acquisition, TrailCard Incorporated is expected to offer best-in-class adherence and engagement solutions to the patients. Mango Health is a US-based provider of mobile-based medication adherence and management solutions for the life sciences industry. Major players in the medication adherence market are Koninklijke Philips N.V., Cardinal Health Inc., Omnicell Inc., McKesson Corporation, Johnson & Johnson Services, Inc., Proteus Digital Health, Inc., AdhereTech Inc., Qualcomm Incorporated, Adherence Solutions LLC and SMRxT Inc. The regions covered in the medication adherence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medication adherence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global medication adherence market is segmented - 1) By Type: Hardware Centric, Software Centric 2) By Medication: Cardiovascular, Central Nervous System, Diabetes, Oncology, Respiratory, Gastrointestinal, Rheumatology, Others 3) By Application: Hospital, Retail Pharmacies, Long-Term Care Facilities, Mail-Order Pharmacies

The ophthalmology drugs market consists of sales of ophthalmology drugs and related services by entities (organizations, sole traders and partnerships) that produce ophthalmology drugs to treat eye related diseases. The ophthalmology drugs industry includes establishments that produce pharmaceutical drugs to treat glaucoma diseases, anti- inflammatory and tear stimulating drugs under dry eye medications drugs, and other drugs for treating retinal disorders and allergies. Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax. The main types of ophthalmology drugs are antiglaucoma drugs, dry eye medication, and other ophthalmological drugs (retinal disorders, anti-infectives/allergy). Anti-glaucoma drugs are medications used to prevent or treat glaucoma, which is a disease in which the optic nerve is damaged, resulting in progressive, irreversible vision loss. The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs. The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores and others. The global ophthalmology drugs market size is expected to grow from $50.62 billion in 2021 to $56.07 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The ophthalmology drugs market is expected to reach $127.15 billion in 2026 at a CAGR of 22.7%. The expected rise in eye laser surgeries will contribute to the ophthalmology drugs market. Ophthalmology research has proved a link between laser eye surgeries and the prevalence of dry eye disorders. In an eye laser procedure, cutting of some nerves in the cornea leads to reduction in corneal sensitivity, in response to which, eyes may not sense the need for lubrication, causing the body to produce fewer tears. Dry eye is a common side effect after laser vision correction surgeries. It is estimated that almost half of the patients that undergo a laser surgery experience some degree of dry eye condition following the procedure. The number of eye laser procedures rose to 720,000 a year in 2020. A rising number of people going for laser eye surgeries is expected to increase the demand for dry eye medications in the forecast period driving the ophthalmology drugs market. Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. These changes are related to data protection such as the European Union's General Data Protection Regulation (GDPR), changes to drug approval procedures and other regulatory changes. For instance, according to a study on 100 Data Privacy and Data Security statistics for 2020, GDPR compliance is a top priority for 58% of European companies. The GDPR regulation is a EU law on data protection and privacy of individuals residing the European Union and the European Economic Area (EEA). It also regulates data anonymization thus maintaining integrity of data dealing with patients and other clinical trial studies. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts strain to investments relating to new product development, thereby affecting the growth of the ophthalmology drugs market. Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to ease patient treatment for dry eye syndrome. Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the dry eye syndrome, with the topical corticosteroid drops being the most common therapy. Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye. However, prolonged usage of corticosteroids has seen to produce side effects that include risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation. As a consequence, NSAIDs are increasingly being used as dry eye treatment instead of steroids to minimize the side effects. For instance, Aciex Therapeutics, a US-based pharmaceutical company, is developing NSAIDs which decrease ocular discomfort. Major companies in the ophthalmology drugs market include Regeneron Pharmaceuticals, Inc., Novartis AG, AbbVie, Santen Pharmaceutical Co., F. Hoffmann-La Roche Ltd., Bausch Health Companies Inc., Bayer AG, Sumitomo Chemical Co ltd, Mitsubishi Tanabe Pharma Corporation and Horizon Therapeutics plc. North America was the largest region in the ophthalmology drugs market in 2021. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the ophthalmology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the ophthalmology drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global ophthalmology drugs market is segmented - 1) By Type: Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmological Drugs (Retinal Disorders, Anti-Infectives/Allergy) 2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others 3) By Route of Administration: Oral, Parenteral, Others 4) By Drug Classification: Branded Drugs, Generic Drugs 5) By Mode of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs

The medical and diagnostic laboratory services market consists of sales of medical and diagnostic laboratory services and related goods by entities (organizations, sole traders and partnerships) that provide diagnostics tests for various diseases. This industry includes CT scan centers, X-ray centers and other clinics that undertake disease diagnosis. The main types of medical and diagnostic laboratory services are diagnostic imaging centers, and medical laboratory services. A diagnostic imaging center is a service provider that offers technical or comprehensive diagnostic imaging services. The different expenditure types include public and private that are used in various applications such as cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and others. The services are used by male and female. The global medical and diagnostic laboratory services market size is expected to grow from $152.68 billion in 2021 to $170.17 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The medical and diagnostic laboratory services market is expected to reach $248.64 billion in 2026 at a CAGR of 9.9%. The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence rose by 57% globally, in 2020. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans and stress tests for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period. The medical and diagnostic laboratory services market is expected to limit by the rising prevalence of self-care diagnostic equipment. These tools can be used by patients without assistance from medical personnel, to diagnose particular disabilities or disorders. Common self-care diagnostic devices include glucose monitoring devices, blood pressure monitoring devices, sleep apnea monitors and temperature monitors. The ease of use of self-care devices has increased demand for them during the last decade and is expected to increase it further during the forecast period. Some virtual applications are also aiding in diagnosis of certain health conditions. For instance, iPhone is working on an IOS accessory called Cue, which can be used as a home diagnostic kit. Self-care diagnostics is expected to have a negative impact on traditional medical and diagnostic laboratory services market during the forecast period by reducing the need for laboratory testing for some basic tests. Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and wellbeing of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations. Major companies in the medical and diagnostic laboratory services market include Laboratory Corporation of America, Eurofins, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Kaiser Permanente, RadNet, OPKO Health, Myriad Genetics, Charles River Laboratories, Inc., and NeoGenomics Laboratories, Inc. North America was the largest region in the medical and diagnostic laboratory services market in 2021. Asia Pacific was the second largest region in the medical and diagnostic laboratory services market. The regions covered in the medical and diagnostic laboratory services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical and diagnostic laboratory services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global medical and diagnostic laboratory services market is segmented - 1) By Type: Diagnostic Imaging Centers, Medical Laboratory Services 2) By Application: Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others 3) By End-User Sex: Male, Female 4) By Type of Expenditure: Public, Private Subsegments Covered: Computer Tomography (CT-Scan) Centers, Medical Radiological Laboratories, Dental or Medical X-Ray Laboratories, Ultrasound Imaging Centers, Magnetic Resonance Imaging (MRI) Centers