Hyderabad, July 26, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Dry Eye Disease Market Report (2023-2028)," the market is estimated at USD 5.86 billion in 2023. It is expected to register a CAGR of 4.09% during the forecast period.
Dry eye disease refers to a disturbance of the lacrimal functional unit, affecting the tear production and ocular surface. Factors such as aging, hormonal changes, systemic inflammatory diseases, ocular surface diseases, or surgeries may cause dry eye-related conditions. The prevalence of DED is increasing globally, especially among women.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 5.86 billion |
| Market Size (2028) | USD 7.17 billion |
| CAGR (2023-2028) | 4.09% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing burden of DED |
| Growth in the aging population. |
Who are the Top Companies in the Global Dry Eye Disease Market?
The market is fragmented in nature due to the presence of many global and domestic companies. The significant players in the global dry eye disease market are,
- AbbVie Inc. (Allergan PLC)
- AFT Pharmaceuticals
- Akorn
- Alcon Inc.
- Bausch Health Companies Inc.
- Horus Pharma
- Johnson & Johnson
- Mitotech
- Novaliq GmbH
- OASIS Medical
- Otsuka Pharmaceutical Co. Ltd
- Prestige Consumer Healthcare
- Santen Pharmaceutical Co. Ltd
- Sentiss Pharma Pvt. Ltd
- Sun Pharmaceutical Industries Ltd
- VISUfarma
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- Allergy Relieving Eye Drops Market Report - The allergy-relieving eye drops market is expected to register a CAGR of 4.14% over the next five years.
Key Highlights from the Global Dry Eye Disease Market Report:
Corticosteroid Drugs Segment to Hold Major Market Share
- Corticosteroids are in high demand due to their advantages, including anti-inflammatory benefits and fast symptom relief.
- The segment is witnessing rising product approvals and new product launches.
- The segment is predicted to exhibit stable growth during the forecast period.
North America to Witness Strong Growth
- The prevalence of dry eye diseases is high in North America
- The increased screen use among the population is expected to drive the demand for better therapeutics against dry eye disease.
- The prevalence of dry eye disease in Canada is estimated at 21%, with women who use eye cosmetics being more likely to have the condition.
What are the Latest Developments in the Global Dry Eye Disease Market?
- In October 2022, Aldeyra Therapeutics Inc. completed the phase 3 clinical trial of 0.25% reproxalap ophthalmic solution for treating allergic conjunctivitis.
- In January 2022, NovaBay Pharmaceuticals launched Avenova lubricating eye drops to treat dry eye symptoms.
Mordor Intelligence has Segmented the Global Dry Eye Disease Market Based on Type, Distribution Channel, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
-
- Artificial Tears
- Anti-inflammatory Drugs
-
- Cyclosporine
- Corticosteroid
- Other Anti-inflammatory Drugs
-
- Punctal Plugs
- Secretagogues
- Other Products
-
- By Distribution Channel (Market Size and Forecast based on Value (USD billion), 2018-2028)
-
- Hospital Pharmacies
- Independent Pharmacies and Drug Stores
- Online Pharmacies
-
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
-
- North America
-
- United States
- Canada
- Mexico
-
- Europe
-
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
-
- Asia-Pacific
-
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
-
- Middle East & Africa
-
- GCC
- South Africa
- Rest of Middle East & Africa
-
- South America
-
- Brazil
- Argentina
- Rest of South America
-
- North America
-
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Dry Eye Disease Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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