Rising incidences of dry eye and growing older population are the key factors fueling the market growth. Moreover, the development of the technology is focusing on stem cell therapy that can help in treating a dry eye condition is expected to foster the market growth during the forecast period. However, the side effects caused due to eye drops such as blurred vision, increased sensitivity, watering eyes, redness, swelling of eyelids, sticky eyelashes, and discomfort hinder the growth of the dry eye product market. Additionally, The COVID-19 pandemic is hitting healthcare institutions in North America with unprecedented operational and clinical challenges. The market in North American countries such as the US, Canada, and Mexico was totally closed for two to three months as the strict lock-down was imposed. The lock down situation has resulted in a fall down a visit to healthcare facilities centers, and fewer prescriptions have been issued for ophthalmic conditions.
The dry eye product market was valued at US$ 6,385.14 million in 2019 and is projected to reach US$ 9,141.01 million by 2027; it is expected to grow at a CAGR of 4.8% from 2020 to 2027.
Some of the important players in Dry Eye Products market are Novartis AG, Santen Pharmaceutical Co. Ltd, Johnson and Johnson Services Inc, OASIS Medical, URSAPHARM Arzneimittel GmbH, ROHTO Pharmaceutical Co.Ltd, OCuSOFT Inc, Bausch Health Companies Inc, AbbVie Inc., Prestige Consumer Healthcare Inc.
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Dry eye is a chronic syndrome and is a progressive depending upon the cause and severity. It is a condition when a person does not have tears to lubricate his or her eyes. Tears are an essential part of maintaining good health of the eye and assist in providing good vision. The syndrome is commonly seen among older people and is becoming common among people spending a long time in front of the computer. The factors that can cause dry eye include age, medications, environmental conditions, long term use of contact lenses. The conditions cannot be cured completely; however, it can be managed by using medical products.
The global dry eye product market is segmented on the basis of product, and type. Based on product, the markets segmented into artificial tears, antibiotic drops, hormone drops, and others. The artificial tears segment held the largest share of the market in 2019; however, the hormone drops segment is anticipated to register the highest CAGR during the forecast period. Based on type, the dry eye product market is segmented into OTC drugs, and prescription drugs. The OTC drugs segment held the largest share of the market in 2019. However, the prescription drugs are anticipated to register the highest CAGR during the forecast period.
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Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Dry Eye Products Market.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Market Report includes major TOC points
- Dry Eye Products Market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Dry Eye Products Market Forecast
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Name: Sameer Joshi
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