Published Date: 30-Sep-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Dry Eye Syndrome Treatment Market size is expected to reach $6.5 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
The Evaporative Dry Eye Syndrome market acquired the high revenue share in the Global Dry Eye Syndrome Treatment Market by Type in 2021, thereby, achieving a market value of $4.7 billion by 2028. This is attributable to the disease's high prevalence, which has been linked to elements including an elevation in screen time, a decrease in blinking, and decreased tear production with aging. In this, eyelids are swollen most of the time and feel dry & itchy.
The Xiidra market is showcasing a CAGR of 4.7% during (2022 - 2028). The medicine was approved by the U.S. FDA for the management of dry eye disease symptoms and indicators. The high rate of medicine uptake is what is causing xiidra to rise. Additionally, it is the first drug in a brand-new family of medications for the treatment of dry eyes called lymphocyte function-associated antigen 1 antagonists.
The Eye drops market is generating the maximum revenue share in the Global Dry Eye Syndrome Treatment Market by Dosage in 2021, thereby, achieving a market value of $2.3 billion by 2028. This is attributable to the simplicity of use and administration, which increases patient adherence to the regimen. In this category, product launches are frequent and player migration is high.
The Retail Pharmacy market has shown the high growth rate of 4.1% during the forecast period. This is explained by how convenient it is to reach retail pharmacies. Additionally, the availability of pharmacists in some locations to help with dosing, customer service, and consultations helps the category acquire an advantage in the market.
The OTC market is leading the Global Dry Eye Syndrome Treatment Market by Sales Channel in 2021, thereby, achieving a market value of $4.1 billion by 2028. This is attributable to how simple it is to use and buy. People have been forced to purchase medications over the counter due to the pandemic's arrival and a rise in the number of people turning to self-medication.
The Artificial Tears market is registering a CAGR of 5% during (2022 - 2028). In addition to moisturizing the eyes, some artificial tears encourage eye healing while others aim to slow down tear evaporation. Thickening agents, which retain the solution on the membrane of the eyes for longer, may also be present in artificial tears. Artificial tears can be purchased over the counter.
The North America market dominated the Global Dry Eye Syndrome Treatment Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.2 billion by 2028. The Europe market is estimated to witness a CAGR of 3.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson & Johnson (Johnson & Johnson Services, Inc.), AbbVie, Inc., Bausch + Lomb Corporation (Bausch Health Companies, Inc.), Novartis AG, Sun Pharmaceuticals Industries Ltd., AFT Pharmaceuticals, Santen Pharmaceutical Co., Ltd., Oyster Point Pharma, Inc., OASIS Medical, Inc., and Otsuka Pharmaceutical Co., Ltd.
By Distribution Channel
By Sales Channel
Unique Offerings from KBV Research