Market Research Report
Dry Eye Syndrome Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
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|Dry Eye Syndrome Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: February 11, 2019||Content info: 118 Pages||
The global dry eye syndrome market was worth US$ 3.5 Billion in 2018. Dry eye syndrome, medically known as keratoconjunctivitis sicca (KCS), is a term that defines the lack of lubrication or moisture on the surface of the infected person's eyes. It is a commonly occurring disease which can affect almost anyone. Various symptoms of dry eye include aching and burning sensations, sore eyes, red eyes, fatigued eyes, itchy eyes, photophobia, etc. Apart from this, watery eyes can also be a symptom as the dry surface of the eyes over-stimulate the production of watery component of tears in order to reduce the dryness. There are several factors that can cause dry eye syndrome such as excessive computer use, allergies, aging, menopause, smoking, LASIK eye surgery, hormone replacement therapy, etc.
Various diseases, such as diabetes, thyroid disorders, Sjogren's syndrome, lupus, scleroderma, rheumatoid arthritis, etc., are also contributing to the prevalence of dry eyes among people. As per statistics, around 425-430 Million individuals across the globe get affected by diabetes. It causes constant changes in the composition of patient's blood which adversely affects the tear glands resulting in a rising prevalence of dry eye. Another key factor which is contributing to the growth of the market is the rising geriatric population. As per estimates, around 9% of the global population is above 65 years of age, and by 2050 this segment is expected to account for around 17% of the global population. With the prevalence of dry eyes being fairly high among the elderly, we expect the market for dry eye syndrome to exhibit a strong growth. Other factors augmenting the growth of this market include increasing awareness levels, rising diagnostic rates, better treatment options, etc. Looking forward, the market value is projected to reach US$ 5.1 Billion by 2024, exhibiting a CAGR of 6.5% during 2019-2024.
Based on the disease type, the market has been segmented into evaporative dry eye syndrome and aqueous dry eye syndrome.
Based on the drug type, the market has been segmented into lubricant eye drops, anti-inflammatory drugs and autologous serum eye drops.
Based on the product type, the market has been segmented into liquid drops, gel, liquid wipes, eye ointment and others.
Based on the distribution channels, the market has been segmented into retail pharmacies, hospital pharmacies and online pharmacies.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Novartis AG, Allergan plc., Otsuka Holdings Co., Ltd., Santen Pharmaceutical Co., Ltd., Nicox S.A., Auven Therapeutics, Akorn, Inc., Bausch + Lomb, Alimera Science and GlaxoSmithKline plc.
This report provides a deep insight into the global dry eye syndrome market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the dry eye syndrome market in any manner.