Clinical Trials Elate Dry Eye Syndrome Market – Straits Research
New York, United States, Sept. 20, 2021 (GLOBE NEWSWIRE) — The dry eye syndrome market is expected to grow at a compound annual growth rate (CAGR) of 6.4% in the forecast period from 2020 to 2029.
The global dry eye syndrome market is expected to reach USD 6.93 billion by 2029.
Dry eye is an ophthalmic disorder caused by a lack of tear fluid or lubrication in the eyes. Based on the National Health and Wellness Survey, an estimated 4.88 million U.S. population aged 50 years and older have been diagnosed with dry eyes. Among these, about 3 million are women, and over 1.68 million are men. In addition, the rise in the geriatric population is a primary contributor to market growth. Older adults are more prone to dry eye conditions due to the decreased ability of their lachrymal glands to produce tears.
COVID-19: Postponed Eye Care and Post-COVID Outlook
The market witnessed a significant decline due to decreased sales of dry eye treatment drugs. Additionally, the pandemic has dramatically affected the healthcare services for people suffering from dry eye conditions. It includes suspension of all elective and non-urgent procedures and limitations on person-to-person contact. Moreover, many pharmaceutical companies experienced challenges in resuming their manufacturing capacity, and industry participants are enduring the effects of shortages in distribution and supply networks.
For instance, Novartis AG’s dry eye product Xiidra faced a revenue decline of -31.4% in the second quarter of 2020 compared to its sales of 2019. However, online sales of dry eye lubricants offered a slight relief to many manufacturers and patients during the lockdown. Further, post-pandemic lifestyle changes such as higher screen time and face mask-related dry eyes could spike the growth rate by 3–4% in upcoming years.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/dry-eye-syndrome-market/request-sample
Dry Eye Syndrome Market by Type
Evaporative Dry Eye Syndrome Spurs the Market for Eye Drugs
With an increase in the prevalence of evaporative eye conditions, the demand for dry eye syndrome drugs is susceptible to exceed. Evaporative dry eye (EDE) is the most common form of dry eye syndrome, occurring in over 85% of dry eye conditions. It is characterized by a lack of tear film lipid layer, which increases tear evaporation. As per a survey from the ARVO journal, evaporative dry eye is more prevalent than aqueous dry eye syndrome.
Dry Eye Syndrome Market by Product
Anti-Inflammatory Therapy Improves Signs of Dry Eye
The anti-inflammatory segment accounts for the largest revenue share and is expected to remain dominant over the forecast period. It is because many essential products belong to this category, including cyclosporine, lifitegrast, and corticosteroids, among others. Recently, an integrin lymphocyte function-associated antigen-1 (LFA-1) antagonist, a lifitegrast ophthalmic solution named Xiidra, was approved for dry eye treatment in the U.S. Several research studies have reported corticosteroids therapy can improve signs of dry eye by normalizing ocular surface mucous production. All the above factors contribute to the growth of this segment.
Dry Eye Syndrome Market by Distribution Channel
Easy Access Fosters Lucrative Opportunities for Online Pharmacies
In terms of the distribution channel, online pharmacies registered the highest growth in the global market in 2020. It is attributed to the high internet penetration, availability of numerous drugs, and large patient pool. Covid-19 pandemic-related movement constraints have had a positive impact on online sales.
Dry Eye Syndrome Market by Regions
North American Dominion over the Dry Eye Syndrome Market
North America held a commanding position in revenue and is anticipated to remain dominant over the forecast period. Essentially, it is due to a spike in factors causing dry eyes, dry eye products, dry eye drugs, including overuse of contact lenses, high screentime, diabetes, lupus, glaucoma, Sjogren’s syndrome, and thyroid disorders, among others. For instance, Americans spend an average of over 10 hours a day on visual display terminals. Availability of better treatment option, growing patient pool, and presence of major market players in this region is expected to fuel the growth for the North American market.
Asia-Pacific Strives to Grow
On the other hand, the Asia-Pacific dry eye syndrome drugs industry will experience promising growth over the forecast period. One of the key contributors is a rise in the geriatric population. China has the world’s largest population of older adults. There will be approximately 366 million older adults by 2050 in China, which is significantly larger than the current total U.S. population of 331 million, as per The United Nations Project, January 2020. As the prevalence of dry eyes is more among older adults, the Asia-Pacific market is expected to exhibit sturdy growth in the coming years.
Buy Now Full Report @ https://straitsresearch.com/buy-now/dry-eye-syndrome-market/global/
Detailed Table of Content
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions and Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation and Scope
4.2 Value Chain Analysis: Dry Eye Syndrome Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Covid-19 Impact Analysis
4.5.1 Pre-Covid-19 Market Scenario Analysis
4.5.2 Post-Covid-19 Market Scenario Analysis
4.5.3 Measures Taken by Top Players
5 Global Dry Eye Syndrome Market by Type
5.1 Evaporative Dry Eye Syndrome
5.1.1 Market Size and Forecast (Value)
5.2 Aqueous Dry Eye Syndrome
5.2.1 Market Size and Forecast (Value)
6 Global Dry Eye Syndrome Market by Product
6.1 Anti-inflammatory
6.1.1 Market Size and Forecast (Value)
6.1.2 Cyclosporine
6.1.2.1 Market Size and Forecast (Value)
6.1.3 Lifitegrast
6.1.3.1 Market Size and Forecast (Value)
6.1.4 Corticosteroids
6.1.4.1 Market Size and Forecast (Value)
6.1.5 Others
6.1. 5.1 Market Size and Forecast (Value)
6.2 Artificial Tears
6.2.1 Market Size and Forecast (Value)
6.3 Lubricants
6.3.1 Market Size and Forecast (Value)
7 Global Dry eye syndrome Market by Distribution Channel
7.1 Hospital Pharmacies
7.1.1 Market Size and Forecast (Value)
7.2 Retail Pharmacies
7.2.1 Market Size and Forecast (Value)
7.3 Online Pharmacies
7.3.1 Market Size and Forecast (Value)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size and Forecast (Value)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 The U.S.
8.2.4 Canada
8.3 Europe
8. 3.1 Economic Overview
8. 3.2 Market Scenario
8. 3.3 Germany
8. 3.4 The U.K.
8. 3.5 France
8. 3.6 Italy
8. 3.7 Spain
8. 3.8 The Rest of Europe
8.4 Asia-Pacific
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 China
8.4.4 Japan
8.4.5 India
8.4.6 Australia
8.4.7 South Korea
8.4.8 The Rest of Asia-Pacific
8. 5 The Middle East and Africa
8. 5.1Economic Overview
8. 5.2Market Scenario
8. 5.3 The Middle East
8. 5.4 Africa
9 Competitive Landscape — Manufacturers and Suppliers
9.1 Competition Dashboard
9.2 Market Share Analysis, 2020
9.3 Competition Dashboard
9.4 Key Developments
10 Company Profile
10.1 Allergan
10.2 Shire
10.3 Novartis AG
10.4 Santen Pharma
10.5 Oasis Medical
10.6 Sun Pharma Industries
Others
11 Conclusion and Recommendation
12 Acronyms and Abbreviations
For More Information, TOC, Query or Customization Before Buying, Visit @ https://straitsresearch.com/report/dry-eye-syndrome-market
News Media
How COVID-19 Pandemic Accelerated the Global Telemedicine Market
Cleaning and Disinfection For Personal Hygiene – A Way Ahead During The Current Pandemic
Could The U.S. Economy Withstand Coronavirus Crisis by Itself
Top 7 Alcohol Wipes
Everything That You Need to Know About the Life Sciences Industry in 2020
Have a Look at Related Research Report
Artificial Tears Market: Information by Type (Cellulose Derived Tears, Glycerin Derived Tears), Delivery Method (Eye Drops, Ointments), and Applications (Dry Eyes Treatment) —Forecast Till 2026
Eye Health Supplements Market: Information by Supplement Category (Antioxidants), Therapeutic Domain (Age-Related Macular Degeneration), Product Type, and Region — Forecast till 2029
Wearable Camera Market: Information by Type (Head Mount, Body Mount, Ear Mount and Smart Glass), Application (Healthcare, Industrial, Sports, and Adventure), and Region — Forecast Till 2026
Eyewear Market: Information By Type (Spectacles, Sunglasses, Contact Lenses), End-User (Men, Women, Unisex), Channel(Online, Offline), and Region — Forecast Till 2026
Enterprise Wearable Market: Information by Technology (IoT, Bluetooth, BLE), Product (Wristwear, Footwear, Eyewear), Application (Infotainment, IT), and Regional Outlook – Forecast Till 2026
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
So let us put our minds together. We will make your vision a reality and help you grow.
For all the latest Health News Click Here
For the latest news and updates, follow us on Google News.