Dry Eye Products Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

 

The Dry Eye Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Dry Eye Products Global Market Report 2024, The dry eye products market size has grown strongly in recent years. It will grow from $7.26 billion in 2023 to $7.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%.  The growth in the historic period can be attributed to aging population, environmental factors, consumer awareness, healthcare professional recommendations, ocular surgery proliferation.

The dry eye products market size is expected to see strong growth in the next few years. It will grow to $9.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.  The growth in the forecast period can be attributed to continued digital device usage, increased screen time, rising awareness and diagnosis, ophthalmic innovation, telemedicine and remote consultations. Major trends in the forecast period include advanced treatment modalities, preservative-free formulations, smart eye care devices, integration with wearable tech, combined therapy approaches.

The rising prevalence of dry eye conditions is expected to propel the growth of the dry eye products market going forward. A dry eye is characterized by insufficient lubrication and moisture on the eye's surface. A dry eye can cause discomfort, irritation, and vision problems. Dry eye products help manage the symptoms of dry eye conditions. For instance, in March 2022, according to a survey conducted by Eyes on Eyecare with 540 eyecare experts, a US-based eyecare professionals’ company, 35 million Americans will suffer from dry eye disease (DED) in 2022, with the frequency increasing year after year. Furthermore, according to UpToDate Inc., a US-based health information provider, in 2022 meta-analysis of three US studies showed an 8.1% pooled prevalence of dry eye. Therefore, the rising prevalence of dry eye conditions drives the growth of the dry eye products market.

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The dry eye products market covered in this report is segmented –
1) By Product: Antibiotic Drops, Hormone Drops, Artificial Tears, Other Products
2) By Type: Prescription Drugs, Over-The-Counter Drugs
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Specialty Clinics, E-Commerce, Other Distribution Channel

Technological advancements are a key trend gaining popularity in the dry eye products market. Major companies operating in the dry eye products market are adopting new technologies to sustain their position in the market. For instance, in January 2022, Sun Pharma Canada Inc., a Canada-based pharmaceutical company, launched CEQUA, a novel dry eye disease treatment catering to the needs of Canadian individuals experiencing this condition. CEQUA, containing cyclosporine ophthalmic solution 0.09% w/v, is distinguished as Canada's first dry eye treatment utilizing nano micellar (NCELL) technology. This advanced technology enhances the bioavailability and stability of cyclosporine, facilitating better penetration into ocular tissues for improved therapeutic outcomes.

The dry eye products market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis


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