Global Dry Eye Disease Treatment Market Report and Forecast 2024-2032

Global Dry Eye Disease Treatment Market Outlook

The global dry eye disease treatment market attained a value of about USD 5.91 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.7% to reach nearly USD 9.76 billion by 2032.

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Growing Geriatric Population Aiding the Market Growth of Dry Eye Disease Treatment

The rising awareness regarding the wide prevalence of dry eye diseases is aiding the market growth. The increasing geriatric population, especially in developed countries, is surging the cases of dry eye disease, which is propelling the market growth. As patients with underlying health-related issues such as lupus, diabetes, arthritis, and thyroid-associated diseases are more prone to eye-related complications, including dry eye disease, the surging cases of such health issues are augmenting the industry growth. The rising dependence on technologies for various essential applications, especially among the millennial and the Gen-Z population, is increasing the cases of dry eye disease owing to the strain caused due to prolonged screen exposure, which is further invigorating the industry growth.

The rising smartphone ownership among all socioeconomic classes is increasing the prevalence of dry eye complications, therefore, significantly contributing to the industry growth. This trend was elevated during the COVID-19 outbreak in 2020, which escalated the dependency on digital technology for working, shopping, and socialising as remote work conditions and stay-at-home orders prevailed. In addition, wearing masks for a long period of time to prevent the spread of the virus also led to a surge in dry eye conditions by forcing air over the eye surface, which provided further impetus to the market growth.

Dry Eye Disease Treatment: Market Segmentation

Dry eye disease is an eye-related condition that is caused by the lack of lubrication and moisture on the surface of the eye. Tear instability, a prominent cause of dry eye, can lead to damage and inflammation of the surface of the eye. It is one of the most common eye-related issues and is prevalent in the geriatric population. The disease can be treated through artificial tears, anti-inflammatory drugs like cyclosporin and corticosteroid, punctal plugs, and secretogogues.

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The major products of dry eye disease treatment are:

• Artificial Tears
• Anti-Inflammatory Drugs
  • Cyclosporine
  • Corticosteroid
  • Others
• Punctal Plugs
• Secretagogues
• Others

The market can be broadly categorised on the basis of its distribution channels into:

• Hospital Pharmacies
• Independent Pharmacies and Drug Stores
• Online Pharmacies

The EMR report looks into the regional markets of dry eye disease treatment like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Development of Innovative Treatments for Dry Eye Disease to Drive the Dry Eye Disease Treatment Industry

The market growth of dry eye disease treatment is being driven by the development of various innovative treatments. The increasing research and development (R&D) activities by the leading companies are leading to the development of drugs for temporary relief from the symptoms of dry eye for patients with critical conditions, which is expected to propel the market growth. Moreover, various clinical trials initiated are anticipated to further augment the growth of the dry eye disease treatment industry. As healthcare accessibility in low and middle-income countries is increasing robustly, the treatment for dry eye diseases is escalating, which is projected to positively impact the market growth. In addition, the increasing approval of novel drugs by various organisations such as the Food and Drug Organisation (FDA) in the United States is surging the availability of diverse treatments, which is projected to propel the market growth. The extensive development of various devices to stimulate tears is also projected to invigorate the industry growth in the forecast period.

Key Industry Players in the Global Dry Eye Disease Treatment Market

The report presents a detailed analysis of the following key players in the global dry eye disease treatment market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• AbbVie Inc.
• Bausch and Lomb Incorporated
• Johnson & Johnson Services, Inc.
• Santen Pharmaceutical Co., Ltd
• OASIS Medical
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report