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Dry Eye Syndrome Market Size to reach USD 5,465.0 million By 2027 Growing at 4.8% CAGR | GlobalData Plc
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Nov 24, 2022, 4:12 AM ET
LONDON, UK, November 24, 2022 /EINPresswire.com/ -- The global dry eye syndrome market size reached USD 5,465.0 million in 2021, according to a new report by GlobalData Plc. Dry eye syndrome (DES), also known as keratoconjunctivitis sicca (KCS), is a multi-factorial disease of the eye characterized by dryness, decreased tear production, or increased tear film evaporation. Patients with DES experience symptoms of discomfort, such as visual disturbance and tear film instability. DES is more common in women and particularly in postmenopausal women. Sex hormones are known to play a significant role in ocular surface homeostasis, and studies are investigating the mechanisms by which disturbances in ocular surface homeostasis may result in DES.
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Anti-androgen therapy, Sjögren’s syndrome, and premature ovarian failure also may increase the risk for DES, as these conditions are associated with androgen deficiency. The research on dry eye syndrome is significant due to the rising frequency of its occurrence, multiple risk factors linked with the disease, and problems in disease treatment. According to reports published by the United Kingdom Statistics Authority, in 2019, nearly 21,900 people were registered as eye related. This rising prevalence of ophthalmological diseases and their related complications directly promotes the growth of this market.
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The pharmaceutical sector has prioritized the development of new medicine for the treatment of dry eyes. Even though dry eye is the most common eye illness, it is not life-threatening, and its symptoms are not severe, there is a limited supply of effective treatment medicines. Dozens of businesses have a wide range of novel treatment possibilities in their pipelines, but the disease's overall complexity makes it difficult to manage. Only a few medications have been approved so far for the treatment of dry eye illness, but the potential for advancement in this field is enormous. As a result, many new possible remedies are being developed or placed in the pharmaceutical pipeline, promising greater outcomes and fewer side effects.
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Dry Eye Syndrome Market Report Highlights
• The global dry eye syndrome market is projected to witness a CAGR of 4.8% from 2021 to 2027, reaching a value of $7.2 million. The market is set to gain thrust during the forecast period on account of the increasing aging population.
• In 2021, the anti-inflammatory products segment of the dry eye syndrome market is estimated at US$ 2,285.0 million in 2021 and is forecast to reach US$ 3,091.0 million by 2027, growing at a CAGR of 5.2%.
• The dry eye syndrome market's eye drops and solutions segment is estimated at $2,602.1 million in 2021 and is expected to grow to $3,524.4 million by 2027, growing at a CAGR of 5.2%.
• The hospital pharmacy segment of the dry eye syndrome market is estimated at $1,815.2 million in 2021 and is expected to grow up to $2,405.5 million by 2027, growing at a CAGR of 4.9%.
• The market has witnessed growth in eye care centers to handle the rising burden of ophthalmological disorders, which will boost the market growth during the forecast period.
• North America closely followed by Europe captured over 39.9% of the overall dry eye syndrome share in 2021. Vendors in these regions are launching various products, thereby accelerating market growth.
• The dry eye syndrome market key players analyzed as part of this report are Novartis AG, AbbVie Inc, and Sun Pharmaceuticals Ltd., among others
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GlobalData Plc has segmented the Dry Eye Syndrome market report by Product, Therapeutic Area, and region:
Dry Eye Syndrome Products Outlook (Revenue, USD Million, 2020-2027)
• Anti-inflammatory Drugs
• Artificial Tears
• Punctal Plugs
Dry Eye Syndrome Dosage Form Outlook (Revenue, USD Million, 2020-2027)
• Eye Drops and Solutions
• Gels and Ointments
• Capsules and Tablets
Dry Eye Syndrome Distribution Channel Outlook (Revenue, USD Million, 2020-2027)
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
Dry Eye Syndrome Regional Outlook (Revenue, USD Million, 2020-2027)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia Pacific
Get Segment-wise Insights and Regional Opportunities at: https://www.globaldata.com/store/talk-to-us/?report=3314297
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