Dry Eye Syndrome Market Analysis

Global Dry Eye Syndrome Market Overview

The dry eye syndrome market size was valued at USD 4.91 billion in 2023 and is projected to grow from USD 5.17 Billion in 2024 to USD 7.83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.33% during the forecast period (2024 - 2032). Rising frequency of eye disorders, life style changes, and advancement in treatment are the key market drivers enhancing the market growth.

A frequent ophthalmic disorder called dry eye syndrome or dry eye disease (DES), known as keratoconjunctivitis sicca (KCS), happens when a person does not produce enough high-quality tears to lubricate or feed the eye. The market is expanding due to increasing incidences of dry eye illness, the increased demand for efficient therapies, the development of a profitable pipeline, and rising public awareness of the issue. The rise in the geriatric population, the incidence of dry eye syndrome, increased knowledge of the diagnosis and treatment of the condition, and an increase in contact lens use are all factors driving the global market for treatments for the condition. But the strict regulatory procedure for the approval of drugs and the scarcity of skilled ophthalmologists restrains the market growth. In contrast, it is anticipated that there will be plenty of chances for market expansion throughout the projected period due to rising government financing and the existence of unexplored markets in the emerging economies of the Asia-Pacific and LAMEA regions.

Due to fewer ophthalmologist appointments, the COVID-19 outbreak harmed the market in the early stages of the pandemic. Other symptoms include blurred vision, eyes that are watery, stringy mucus around the eye, redness, scorching, stinging, or burning sensations, and light sensitivity. Given that older people's eyes produce fewer tears, leading to increased evaporation and dryness, worldwide geriatric population expansion is predicted to be a significant market driver. Additionally, the increased use of contact lenses globally contributes to developing eye dryness, encouraging the use of goods to preserve eye health. Age affects how often this chronic illness is. However, due to expanding screen usage, poor diet, growing contact lens use, and growth in LASIK operations, the prevalence is rising in the younger and older population.

After utilizing synthetic tears comprising sodium hyaluronate (SH) at various osmolarities, a study looked at how dry eye patients' tears changed temporarily regarding their osmolarity. It included 80 dry eye patients with tear osmolarity measurements was 300 mOsm/L or above using the TearLab osmolarity instrument. Unless these drops were used often, the enhanced immediate benefit of hypotonic SH eye drops at decreasing tear osmolarity for individuals with dry eye is limited

In 2023, Novaliq and Bosch+Laumb will have presented crucial phase 3 data concerning their ophthalmic drug NOVO3 for the treatment of Dry Eye Disease symptoms linked with meibomian gland dysfunction.

In 2022, Santen Pharmaceutical started marketing the dry-eye treatment DIQUAS® LX Ophthalmic Solution in Japan. This is a better form that allows patients to take it three times every day only and is less demanding.

In 2022 October: Aldeyra Therapeutics, Inc. completed a phase 3 clinical trial of rpx-1 in a 0.25 % solution for the treatment of allergic conjunctivitis. The firm also unveiled the results of this research at the yearly meeting with the American Academy of Optometry in November 2022

Sun Pharma introduced Cequa into Canada in January 2022; it is the first-ever Nanomicellar (NCELL) technology-based dry eye solution using cutting-edge microemulsion vehicles that allow for improved permeability within eyes as well as ocular bioavailability and enhanced physicochemical stability of cyclosporine formulation.

This has been announced by Bausch + Lomb Corporation in June 2019 that it had entered into a definitive agreement with Novartis, as part of which Bausch + Lomb will buy XIIDRA (lifitegrast ophthalmic solution) ®, a non-steroidal eye drop approved specifically to treat DED signs and symptoms associated with inflammation arising from dryness.

In February 2022, AbbVie announced that the acquisition of Allergan plc had finally closed after the regulatory approval period set out in their transaction agreement ended.

In June 2023, Novaliq GmbH made a declaration asserting that they have received FDA Approval (0.1%) for VEVYE (cyclosporine ophthalmic solution) for dry eye disease signs and symptoms relief.

MIEBO, previously known as NOV03, was approved by US FDA as a treatment for signs and symptoms of Dry Eye Disease from May 2023 onwards. The only FDA-approved DED treatment that addresses tear evaporation directly is being referred to as MIEBO.

Dry Eye Syndrome Market Trends

• Growing Prevalence of eye disorders to boost market growth

Dry eye disease, is one of the common ophthalmic disorder affecting about 360 billion people worldwide. The symptoms of dry eyes are irritation, redness, dryness, fatigued eyes, and blurred vision. The rising prevalence of dry eyes syndrome varies with age however, increase in older as well as young population due to increasing use of screens, growing use of contact lenses, improper diet, and Lasik surgeries. Further, advancement in treatment and life style changes are the other factors enhancing the Dry Eye Syndrome Market revenue in near future.

Additionally, in February 2021, the clinical Ophthalmology journal reported that the average patient age was 57.8 years, and 73.0% of the patients tested positive for tear MMP-9. After one month of therapy with topical corticosteroids, the patients’ symptoms and signs significantly improved, with improvements of up to 90.6%. This demonstrates the significant frequency of dry eye illness among seniors. Therefore, such factors enhanced the market CAGR of dry eye syndrome across the globe in the recent years.

Dry Eye Syndrome Market Segment Insights

Dry Eye Syndrome Type Insights

The Market segments of Dry Eye Syndrome, based on type is evaporative and aqueous. The evaporative dry eye segment held the majority share in respect to the Dry Eye Syndrome Market revenue. Evaporative eye syndrome is happened due to the lack of quality tears. This is primarily owing to the malfunction of the meibomian gland in eyelids, especially working on your computer or reading across the globe.

July 2022: A subsidiary of Bausch Health Companies, Inc. Basch + Lamb Corporation, and Novaliq, a biopharmaceutical firm that specializes in first- and best-in-class ocular therapies, have teamed. Via this collaboration, the businesses requested FDA permission for NOV03 (perfluorohexyloctane) and submitted and NDA. An experimental medication called NOV03 (perfluorohexyloctane) was developed with the goal of treating dry eye disease (DED) and the symptoms that are connected to Meibomian gland dysfunction (MGD).

Dry Eye Syndrome Diagnosis Insights

The Dry Eye Syndrome Market segmentation, based on diagnosis, includes schirmer test, and eye exam. The schirmer test segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. In schrimer test a slip of paper is placed under each eye and left there for five minutes as part of the schrimer’s test. The amount of tears generated may be measured since the paper absorbs the tears that are emitted from the eyes. Hence, rising schrimers test for dry eye syndrome positively impacts the market growth.

Dry Eye Syndrome Treatment Insights

The Market of Dry Eye Syndrome has been bifurcated by treatment into nutritional supplements, and surgery. The nutritional supplements segment dominated the market in 2022 due to ease of availability.

Dry Eye Syndrome Distribution Channel Insights

The Market segmentation of Dry Eye Syndrome based on distribution channel include, hospital pharmacies. The hospitals pharmacies segment dominated the market in 2022 and is projected to be the fastest growing segment during the forecast period. This is owing due to the increasing healthcare infrastructure and growing awareness about the dry eye syndrome among the population.

Dry Eye Syndrome End User Insights

Based on End Users, the global dry eye syndrome industry include hospitals. Hospitals held the largest segment share in 2022, owing to the rapid adoption of advanced dry eye syndrome nutritional products, advancement in treatment and the availability of skilled medical staff. Moreover, increasing government initiatives to improve the healthcare infrastructure, and the growing number of dry eye syndrome patients is expected to bolster the market during the assessed timeline.

NewsA medication that addresses the excessive tear evaporation linked to dry eye illness has received FDA approval. MIEBO (perfluorohexyloctane ophthalmic solution; formerly NOV03) is a semifluorinated alkane that establishes a monolayer on the tear film to lessen tear evaporation. According to Bausch + Lomb, which created the medication with its German partner, Novaliq GmbH, excessive tear evaporation, which affects 86% of persons with dry eye illness, is the only FDA-approved treatment that targets it specifically.

Dry Eye Syndrome Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dry eye syndrome market accounted for USD 1.69 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of dry eye syndrome in the multi-screen world, as well as an ageing population across the region. For instance: According to Cureus Journal in July 2022, Dry eye syndrome prevalence in Canada ha sbeen pegged at 21%. It appears that wearing eye cosmetics is one of the risk factors for acquiring dry eye syndrome since women who used eye cosmetics had a much higher likelihood of having dry eye syndrome than the general population. Over the projected period, it is expected that the region’s market would develop faster due to the disease’s high prevalence.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 1: DRY EYE SYNDROME MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe dry eye syndrome market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, government backing for the growth of the healthcare industry, an ageing population. Further, the Germany market of dry eye syndrome held the largest market share, and the UK market of dry eye syndrome was the fastest growing market in the European region.

The Asia-Pacific dry eye syndrome market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to increased dry eye syndrome incidence in youth as well as in aged population and rising healthcare costs. Moreover, China market of dry eye syndrome held the largest market share, and the India market of dry eye syndrome was the fastest growing market in the Asia-Pacific region.

Dry Eye Syndrome Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help in the dry eye syndrome market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the dry eye syndrome industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global dry eye syndrome industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, dry eye syndrome industry has provided medicine with some of the most significant benefits. The dry eye syndrome market major player such as Allergan (Republic of Ireland), Novartis AG (Switzerland), Otsuka Pharmaceuticals Co. Ltd. (Japan), Valent Pharmaceuticals (Canada), Johnson & Johnson Vision (US), Acadia Pharmaceuticals (US), Allostera Pharma (Canada), I-Med Pharma Inc. (Canada), and others are working to expand the market demand by investing in research and development activities.

Johnson & Johnson vision’s main aim is to bring science and sense of sight to life with world-class innovation and customer experience. Company’s vision is to help people see better, connect better, and live better. The key words of the company for its innovation is all about collaborating with the brightest around the world, gaining insights from patients, and clinician, and translating those insights into improvements in patient care, products, and ultimately life itself. For instance: the next-generation TearScience Activator Clear from Johnson & Johnson Vision was released in April 2022 to treat meibomian gland dysfunction (MGD) therapy, is the foundation of this revolutionary technique.

A worldwide pharmaceutical company with offices in Basel, Switzerland, and Cambridge, Massachusetts, the United States, is known as Novartis AG (global research). One of the biggest pharmaceutical firms in the world, Novartis was the fourth largest by sales in 2022 and has consistently been rated in the top five globally. Clozapine (marketed as Clozaril), diclofenac (Voltaren; sold to GlaxoSmithKline in 2015 deal), carbamazepine (marketed as Tegretol), valsartan (marketed as Diovan), imatinib mesylate (marketed as Gleevec/Glivec), cyclosporine (marketed as Neoral/Sandimmune), letrozole (marketed as Femara), methylpheni The businesses Ciba-Geigy and Sandoz joined in order to become Novartis in March 1996. Novartis was created as an independent company by the firms' pharmaceutical and agrochemical departments. Similar to Ciba Specialty Chemicals, several Ciba-Geigy and Sandoz industries were sold or spun out as separate enterprises.

Key Companies in the Dry Eye Syndrome Market includes

• Allergan (Republic of Ireland)


• Novartis AG (Switzerland)


• Otsuka Pharmaceutical Co. Ltd. (Japan)


• Valent Pharmaceuticals (Canada)


• Johnson & Johnson Vision (US)


• Acadia Pharmaceuticals (US)


• Allostera Pharma (Canada)


• I-Med Pharma Inc. (Canada), among others

Dry Eye Syndrome Industry Developments

June 2022: Kedalion Therapeutics, a clinical-stage, venture-funded ophthalmic medicine firm situated in Menlo Park, California, was purchased by Novartis. Novartis acquired the AcuStreaM technology from Kedalion Therapeutics through this transaction. The acquisition was made with the intension of expanding Novartis’ ophthalmics product line and advancing the company’s research into ground-breaking ophthalmic techniques that might help address unmet patient requirements in front-of-eye disorders.

 March 2022: Theravision with Ketotifen, an etafilcon a drug-eluting contact lens that also contains Ketotifen, was approved by the FDA for sale by Johnson & Johnsion Vision. This product’s lenses each contain 19 mcg of ketotifen. The first of a brand-new class of contact lenses, ACUVUE Theravision with Ketotifen, provided contact lens wearers with allergic eye irritation with an exceptional wearing experience.  

Dry Eye Syndrome Market Segmentation

Dry Eye Syndrome Type Outlook

• Evaporative


• Aqueous

Dry Eye Syndrome Diagnosis Outlook

• Schirmer Test


• Eye Exam

Dry Eye Syndrome Treatment Outlook

• Nutritional Supplements


• Surgery

Dry Eye Syndrome Distribution Channel Outlook

• Hospital Pharmacies

Dry Eye Syndrome End User Outlook

• Hospitals

Dry Eye Syndrome Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America