Global Dry Eye Syndrome Market Report, published by Variant Market Research, forecast that the global market is expected to reach $4.9 Billion by 2024 from $2.9Billion in 2016, growing at a CAGR of 6.9% from 2016 to 2024. Dry eye syndrome, is an ocular syndrome, which generally occurs when any living person/animal is unable to produce sufficient tears of their own. It is medically known as dysfunctional tear syndrome. The major reasons of this syndrome are Vitamin A deficiency, LASIK surgery, pregnancy, neurotrophic deficiency and Meibomian gland dysfunction. There are two major categories of this syndrome such as aqueous and evaporative deficiency. Early cure of this disease may save the life of affected person/animal. It is one of the most prevailing diseases globally. It is chronic disorder introduced by advanced age, contact lens wear, certain medications, or environmental reasons.
"Global Dry Eye Syndrome Market (By Type: Evaporative Dry Eye, Aqueous Dry Eye; By Treatment Type: Nutritional Supplements, Serum Eye Drops, Lubricant Eye Drops, Anti-Inflammatory Drugs; and By Geography: North America, Europe, Asia-Pacific and Row)) Opportunities, Growth and Forecast, 2015 - 2024"
Increase in prevalence of dry eye syndrome drives the market
The global dry eye syndrome market is primarily driven by increase in occurrence of dry eye syndrome, rising geriatric population, and increasing awareness about this syndrome. Additionally government initiative for this syndrome and increased R&D are also major dry eye syndrome market trend. Though, expiry of patents on major drugs used in the treatment is a major hindrance for the dry eye syndrome market growth. Moreover, technological advancement and steady government support for medical research is expected to deliver numerous growth opportunities for the market in the upcoming years.
The global dry eye syndrome market is majorly classified on the basis of type, treatment type, and geography. By type the market is categorized into evaporative dry eye & aqueous dry eye. On the basis of treatment type the market is further divided into serum eye drops, nutritional supplement, lubricant eye drops (ointments, oily tear eye drops, and preservative-free drops) and anti-inflammatory drugs (Corticosteroids and Tetracyclines). By geography, North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major segments considered in the dry eye syndrome market.
Aqueous dry eyeaccounted for the largest market share in the type segment
Aqueous dry eye accounted for the largest market share in 2016, and are expected to continue its dominance during the forecast period 2016 – 2024, in type segment.
Global Dry Eye Syndrome Market, by Treatment Type
Nutritional Supplements held the highest market share in the treatment type segment
Nutritional supplements accounted for the largest market share in 2016, and expected to remain the largest over the forecast period 2016 – 2024. .Whereas, lubricant eye drops sub segment is anticipated to grow at a fastest CAGR from 2016 to 2024.
GLOBAL DRY EYE SYNDROME MARKET SHARE BY GEOGRAPHY, 2016 (%)
North America to dominate the largest market shareover the forecast period
North America accounted for the largest dry eye syndrome market share, due to factors such as growing number of patients with this syndrome, advanced healthcare infrastructure, increasing numerous diseases for example diabetes, lupus, rheumatoid arthritis, scleroderma, and Sjogren's syndrome among others. This growth in North America will definitely influence in the global dye eye syndrome size.
Eyegate Pharma and Valeant pharmaceuticals enter into licensing agreement for egp-437 combination product in post-operative inflammation and pain in ocular surgery patients. Prominent players in global market profiled are Allergan, Alcon, Eyegate Pharma, Otsuka Holdings, Santen Pharmaceutical, Bridge Pharma Inc., LTT Bio-Pharma, Can-Fite Biopharma, Shire/SAR code Bioscience, and Novartis among others.