Dry Eye Disease Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Report ID: GMI4299

Summary Methodology

Dry eye disease Market size is expected to grow significantly from 2019 to 2025.

The dry eye disease market is estimated to witness lucrative growth over the coming years due to the increasing prevalence of dry eye disease, growing addiction of smart phone, emergence of diagnostic tools and rising government funding & grants to support clinical trials. The growing prevalence of dry eye disease has imposed a significant socioeconomic burden across the globe. Dry eye disease is a multi-factorial disease of the eye which is generally characterized by decreased tear production, dryness, or increased tear film evaporation. Patients suffering from dry eye disease experience symptoms of discomfort like tear film instability and visual disturbance. Middle-aged and elderly people are the most commonly affected population because of the high prevalence of contact lens usage, autoimmune diseases, systemic drug effects, and refractive surgeries.

The increasing number of clinical trials is directly contributing to the rise in the demand for dry eye disease treatment. Presently, factors like the rising drug development costs, increasing reimbursement and regulatory issues, and the slow global economy has put enormous pressure on the biopharmaceutical industry. In order to remain competitive in the overall market, numerous market players are outsourcing their clinical trials to contract research organizations (CROs) to reduce the time and cost of the entire process and enhance their global footprint. Thus, growing partnerships between CROs and biopharma companies are also expected to drive the market growth in the coming years. For instance, Redwood Pharma has contracted the Swiss CRO, CROss Alliance for the management of a clinical phase II trial in patients suffering from chronic dry eye disease. However, lack of awareness regarding the importance of dry eye disease treatment in the low-middle-income countries might hamper market growth.

The topical corticosteroid drug segment marked a significant revenue share in 2018 and is projected to follow a similar trend during the forecast period. As chronic inflammation plays a significant role in dry eye disease treatment, thus topical corticosteroids have been demonstrated to amend the signs and symptoms of the disease. Topical corticosteroids are effective anti-inflammatory drugs. These types of drugs are widely available and rapidly relieve the signs and symptoms of dry eye diseases. Topical corticosteroids are useful in short-term efficacy, and thus, are mostly prescribed for acute cases of dry eye diseases. Besides this, artificial tears are widely used as first-line treatment of dry eye disease, but the long-term application of artificial tear is not effective for patients with severe symptoms.

Hospital pharmacies distribution channel segment should witness significant growth during the forthcoming years owing to the increasing number of patient pool with dry eye disease. Hospital pharmacies provide over the counter drugs for people with dry eye disease. Some hospital pharmacies offer drugs based on the users need and disease condition that will drive the segment growth in upcoming years.

Asia Pacific dry eye disease market is anticipated to grow rapidly over the coming years. This is majorly due to the growing prevalence of dry eye disease, especially in Japan. The Asia Pacific region is extremely dynamic, undergoing rapid urbanization, economic growth, and industrialization. Several government initiatives are taking place to increase awareness of dry eye disease treatment. This is implemented through effective communication, education, and training.

Some of the major notable players operating in the dry eye disease include Allergan, Novartis, Otsuka Pharmaceutical, Takeda Pharmaceutical Company (Shire Plc), Santen Pharmaceutical, Bausch Health Companies, Akorn, Thea Pharmaceuticals Limited, Altaire Pharmaceuticals, and Similasan AG. Companies are expanding their geographical footprint by offering new treatment options and acquisitions across various countries. In November 2018, Santen AG, the European subsidiary of Santen Pharmaceutical Co. Ltd., and OFF Italia S.r.l entered into an agreement aiming to extend the OFF Italia’s ophthalmic offerings to more than 30 countries across EMEA. Also, companies are focusing on the development and approval of new products for dry eye disease to gain more market share. In May 2019, Novartis announced that it has entered into an agreement with Takeda Pharmaceutical Company Limited to acquire the assets associated with Xiidra worldwide. In January 2018, Shire plc announced the approval of Xiidra, indicated for the treatment of the signs and symptoms of dry eye disease in adults in Canada.

Dry Eye Disease Market By Drug type, 2014-2025 (USD Million)

  • Tear-stimulating drugs
  • Topical Corticosteroids
  • Immunosuppressive drugs
  • Artificial Tears
  • Others

Dry Eye Disease Market By Mode of Administration, 2014-2025 (USD Million)

  • Oral
  • Topical

Dry Eye Disease Market By Distribution channel, 2014-2025 (USD Million)

  • Hospital pharmacies
  • Retail pharmacies
  • Specialty clinics
  • e-commerce
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Mexico
    • Brazil
    • Argentina
  • Middle East and Africa
    • South Africa
    • GCC Countries

Company Profiles:

  • Allergan Plc
  • Novartis AG
  • Otsuka Pharmaceutical Co.,Ltd.
  • Takeda Pharmaceutical Company Ltd (Shire Plc)
  • Santen Pharmaceutical Co Ltd
  • Bausch Health Companies Inc.
  • Akorn, Inc
  • Thea Pharmaceuticals Limited
  • Altaire Pharmaceuticals Inc
  • Similasan AG

What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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