Dry Eye Syndrome Market Consumption Analysis, Business Overview and Upcoming Trends Forecast by 2025
The changing lifestyle has Led to increase in Number of patients of DRY EYE SYNDROME and its market.
According to a new report published by Reports Monitor titled, “THE GLOBAL DRY EYE SYNDROME TREATMENT MARKET, GROWTH OPPORTUNITIES AND FORECAST TILL 2025” the global Dry Eye Syndrome market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Dry eye syndrome (DES), also known as keratoconjunctivitis sicca (KCS) is a condition that occurs when eye do not produces enough tears or the tears evaporate too quickly. Generally, the symptom of dry eye is mild but it can get painful and lead to complications. The common symptoms of DES are ocular irritation, photophobia, blurry vision, mucous discharge, ocular dryness, itching, and excessive tearing. Tears are very important for our eyes; it provides lubrication, limits the risk of infection and helps in keeping the eyes clear.
Diabetic patients are prone to DES. The growing geriatric population and increase in patients of disease such as diabetes others are the major driving factors of DES treatment. Additionally, the increasing awareness about latest treatment technology also boosts the growth of the market. Lack of nutrients in food also leads to DES. However, high cost of treatment, lack of awareness about treatment, lack of skilled professionals and low expenditure per capita are the major restraints of the market. Nevertheless, with increasing population, pollution is also increasing and the concern for healthcare is also growing which would keep the market healthy.
Dry eye syndrome market is segmented on the basis of type, diagnosis, treatment, end user and region
Based on type the market is classified as evaporative dry eye syndrome, aqueous dry eye syndrome, and others.
On the basis of diagnosis the market can be divided as Schirmer test, eye exam, and others.
Treatment wise the market can be classified as nutritional supplements, serum eye drops, lubricant eye drops, anti-inflammatory drugs segments, surgery, and others
As per end user the market is segmented as hospitals/clinics, ambulatory surgical centers, and others
North America holds the maximum share of dry eye syndrome treatment market. This is attributed to their large patient pool and well developed healthcare technology. Moreover, presence of presence of the major market players like Johnson & Johnson Vision, Auven therapeutics, Acadia Pharmaceutical, and others within the region fuels the market growth.
Europe is the second largest dry eye syndrome market owing to increasing investment of funds for research by government and private players, a well-developed healthcare sector, huge patient pool and growing geriatric population. According to the Saga in 2017, nearly 20% of people living in the Britain are diagnosed with dry eye syndrome. Moreover, it was estimated that one in three people who age 65 or more within the region are diagnosed with this disease.
Asia Pacific is the fastest growing region for the market due to the presence of economies like India, China, Australia, and others. Moreover, huge patient population, rising expenditure per capita on healthcare boosts the market growth. According to the Australian Institute of Health and Welfare, the total Australian health expenditure from 2015 to 2016 was estimated to be about USD 170.4 billion.
The LAMEA region has the least share in the global dry eye syndrome due to the presence of underdeveloped economies, low per capita healthcare expenditure, stringent government policies, especially within the African region. The Middle East holds the majority of the market of LAMEA region due to a well-developed healthcare sector and huge healthcare expenditure by the developed economies like UAE, Kuwait, Dubai, and others.
The key players for the global dry eye syndrome are Allostera Pharma (Canada), I-Med Pharma Inc. (Canada), Santen Pharmaceuticals Co. Ltd., (Japan), AFT pharmaceuticals (New Zealand), Novaliq GmBh (Germany), Allergan (Republic of Ireland), Novartis AG (Switzerland), Otsuka Pharmaceutical Co. Ltd. (Japan), Valent Pharmaceuticals (Canada), Johnson & Johnson Vision (U.S.)
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