Global Dry Eye Syndrome Market Report and Forecast 2024-2032

Global Dry Eye Syndrome Market Outlook

The global dry eye syndrome market size was worth USD 4.26 billion in 2023. The market is further expected to grow at a CAGR of 6.8% between 2024 and 2032 to reach a value of approximately USD 7.72 billion by 2032. 

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The R&D partnership and the Choice and Lice agreement for the development of gene therapy vectors for retinal diseases were concluded in June 2020 with Santen Pharmaceutical Co., Ltd. and Oxford Biomedica. This R&D partnership primarily aims to produce pre-clinical evidence for OXB's idea for the treatment of inherited retinal diseases using lentiviral vectors. This will support the company's product growth, which will also aid the growth of the overall market.

Market Segmentation

Dry eye syndrome, scientifically identified as keratoconjunctivitis sicca (KCS), refers to a distinguishing concept of the person's eye surface that lacks lubrication or moisture. It is a severe disease that can affect virtually everyone. Several dry eye signs include nausea and burning sensations, eyes swollen, red eyes, fatigued eyes, itchy eyes, and photophobia, among others. In addition, watery eyes may also be a symptom, as a dry eye surface over-stimulates the development of watery tears to alleviate the dryness. Dry eye disease can be caused by excessive use of computers, allergies, obesity, menopause, smoking, LASIK eye surgery, and hormone replacement therapy, among others.

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Based on disease type, the market is divided into the following:

• Evaporative 
• Aqueous 

Based on drug type, the market can be divided into the following:

• Anti-Inflammatory Drugs
• Lubricant Eye Drops
• Autologous Serum Eye Drops 

On the basis of product, the industry can be segmented into:

• Liquid Drops 
• Gel 
• Liquid Wipes 
• Eye Ointment 
• Others

Based on distribution channel, the market can be divided into the following:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies 

The regional markets for the product include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The development of the global dry eye syndrome market is largely due to the rise in the widespread occurrence of dry eye syndrome, which is attributed to a variety of factors. The increasing geriatric population around the world has resulted in a rise in the incidence of the syndrome because tear glands weaken because of their ageing and cannot produce enough tear fluid to hold a lubricating film on the eyes. Another key factor for the rising incidence of dry eye syndrome is the higher prevalence of other conditions, which can affect the functioning of the eye like diabetes. The changes in patient's blood composition due to diabetes will adversely affect the weeping glands, causing dry eye syndrome. Many diseases that can cause dry-eye syndrome indirectly include vitamin A deficiency, lupus, thyroid disease, and rheumatoid arthritis. The growing occurrence of such diseases in the market is expected to aid the overall market growth.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the global dry eye syndrome market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Akorn, Incorporated.
• AbbVie 
• Auven Therapeutics
• Nicox S.A.
• Novartis AG 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report