Market Research Report
Global Dry Eye Disease Market Forecast 2021-2028
|Global Dry Eye Disease Market Forecast 2021-2028|
Published: August 9, 2021
Content info: 210 Pages
Delivery time: 2-3 business days
The global dry eye disease market is forecasted to record a CAGR of 5.76% during the projected period of 2021 to 2028. The market growth is ascribed to factors such as the launch of promising pipeline products for dry eye disease, the introduction of new diagnostic techniques for dry eye disease, and the increasing incidence of dry eye among different age groups.
Dry eye is a chronic syndrome, progressive depending on the severity and cause. It is a condition when a person does not have tears to lubricate their eyes. Tears are a vital part of maintaining good eye health and assist in ensuring good vision. The syndrome is typically witnessed among older people. However, it is also becoming common among people who spend long hours in front of the computer.
The accurate diagnosis of dry eye disease is pivotal. Whether it is a practice focusing on a subspecialty, such as glaucoma and retina, or a primary anterior segment practice, the symptoms and signs of dry eye disease are widespread across modern lifestyles. Technological advancements are being made in the field of ophthalmology. Leading firms operating in the market continually concentrate on developing novel therapeutics and diagnostics, as well. For instance, TearScience, a subsidiary of Johnson & Johnson, introduced the latest diagnostic system for dry eye disease in the market, named LipiView II Ocular Surface Interferometer.
The global dry eye disease market growth evaluation entails the assessment of the Asia-Pacific, Europe, North America, and the Rest of World. The Asia-Pacific is set to grow with the highest CAGR over the forecasting years due to the increasing number of ophthalmologists in countries like China, India, and Japan, providing good treatment and diagnostic services for ophthalmic conditions and the growing ophthalmic education.
Significant competition exists between key market players for the development of a new treatment for dry eye disease. The highly sustainable competitive advantages through innovation are likely to intensify rivalry among firms. Besides, solid strategies are anticipated to raise the competition in the market studied.
The top companies operating in the market are Johnson & Johnson, Allergan PLC (Acquired by Abbvie), Bausch Health Companies Inc, etc.