Dry Eye Syndrome Market | Growing Popularity and Emerging Trends in the Industry By 2028
The dry eye syndrome is a condition of the eye in which tear production reduces drastically and symptoms such as irritation, light sensitivity, and others manifest. However, the healthcare sector is making notable progress in their bid to invent cure for the disease. This drive from the healthcare sector is bound to take the dry eye syndrome market to the next level. The global dry eye syndrome market is anticipating a CAGR of 6.6% during the forecasted period (2017-2023), as revealed by Market Research Future (MRFR) in their latest article on the market.
The global dry eye syndrome market is expecting traction from disease like diabetes which spur the malfunctioning in the eye. At the same time, FDA’s clearance of new drugs and companies taking initiative to take the market forward through innovation can be a boon for the market in the coming years. The Dry Eye Syndrome Market can ride on some additional benefits such as increasing per capita income and growing awareness to make the market more lucrative.
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are segments that can be assessed to understand a proper functioning of the global dry eye syndrome market. This market segmentation includes a detailed study of various growth pockets, which can be taken into consideration to chart the progress route.
The Americas has significant market dominance and this is due to better diagnosis, infrastructural strength, high expenditure, and easy reimbursement policies. The presence of the US, and Canada are also expected to fetch in revenues. Cuba is also doing great in South America, along with Brazil and Argentina. The presence of several titans like Auven therapeutics, Johnson & Johnson Vision, Acadia Pharmaceutical, and others is also adding fuel to the market growth.
Europe has the second largest market and is getting benefitted from the high patient population. Healthcare sector in the region is quite robust and has a name for receiving remarkable funds from governments and private organizations. The APAC market is emerging as a market with high potential where India, China, Australia, and others are performing well. All these regions are expecting high CAGR during the forecast period.
Type, diagnosis, treatment, distribution channel and end-user are segments in which the global dry eye syndrome market has been segmented by MRFR. This attempt would ensure better look into factors that can improve the market position.
Based on the type, the dry eye syndrome market comprises evaporative dry eye syndrome aqueous dry eye syndrome, and others.
Based on the diagnosis, the dry eye syndrome market comprises Schirmer test, eye exam, and others. The Schirmer test is gaining substantial acknowledgement.
Based on the treatment, the dry eye syndrome market includes nutritional supplements, serum eye drops, lubricant eye drops, anti-inflammatory drugs segments, surgery, and others. The lubricant eye drops segment includes oily tear eye drops, ointments, preservative-free drops, and others. The anti-inflammatory drugs segment encompasses tetracyclines, corticosteroids, and others. The surgery segment has punctal occlusion, intense pulsed light therapy, and others under its purview.
Based on the distribution channel, the Dry Eye Treatment consists online pharmacies, retail pharmacies, hospital pharmacies, and others. The retail pharmacies are doing good, however, the online pharmacies can gain more, if they clear stringent government policies.
Based on the end-users, the dry eye syndrome market includes hospitals, clinics, home care, and others.
Various pharmaceuticals are impacting the global dry eye syndrome market by improving the competition in the market with strategic inclusions of processes like merger, acquisition, collaboration, and other methods. The global market is also gaining from such prolific moves. MRFR listed a few in their global dry eye syndrome market report and profiled them to get a hand over latest trends that could impact the market in the future. These companies are Novartis AG (Switzerland), Allergan (Republic of Ireland), Valent Pharmaceuticals (Canada), Otsuka Pharmaceutical Co. Ltd. (Japan), Acadia Pharmaceutical (U.S.), Johnson and Johnson Vision (U.S.), I-Med Pharma Inc. (Canada), Allostera Pharma (Canada), AFT pharmaceuticals (New Zealand), Santen Pharmaceuticals Co. Ltd., (Japan), Auven therapeutics (U.S.), Novaliq GmBh (Germany), and others.
In August 2019, results from phase 2 and 3 of the ribonucleic acid (siRNA) inhibitor tivanisiran delivered positive outcomes as a cure for dry eye syndrome. The test is getting done by researchers from Sylentis and it has been conducted in six countries. The result shows a stark improvement in the condition.
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