Dry Eye Syndrome Market Size, Share & COVID-19 Impact Analysis, By Product (Anti-inflammatory Products {Cyclosporin, Corticosteroids, and Others}, Artificial Tears and Lubricants, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Regional Forecast, 2023-2030

The global dry eye syndrome market size was valued at USD 6.61 billion in 2022. The market is projected to grow from USD 7.02 billion in 2023 to USD 11.26 billion by 2030, exhibiting a CAGR of 7.0% during the forecast period.

Dry Eye Syndrome (DES) or Dry Eye Disease (DES), which is also called Keratoconjunctivitis Sicca (KCS), is a common ophthalmic condition that occurs when the person doesn’t have enough quality tears to lubricate or nourish the eye. The symptoms include redness, stinging, scratching, or burning sensation, light sensitivity, watery eyes, and stringy mucus near the eye and blurry vision. As per an article published by the BMC Ophthalmology in February 2022, signs of eye dryness were reported in 5–30% of the elderly subjects, and the frequency of dry eye was 8.4% for those less than 60 years, 15% among 70-79 years, and 20% for patients over 80 years.

Moreover, with increasing age, the ability of the lacrimal glands to produce tears decreases leading to this condition. The condition has also been more prevalent amongst post-menopausal women. A study was published by the National Library of Medicine in June 2021, in a group of 1947 perimenopausal and postmenopausal women, aged between 45 and 79 years, where the overall prevalence of DED symptoms was 79%, and was increasing significantly in postmenopausal women. These trends will lead to an increase in demand for therapeutic measures and contribute to the growth of the global market during the forecast period.

COVID-19 IMPACT 

Decline of Non-Essential Treatment During COVID-19 Negatively Impacted the Market Growth

During the COVID-19 outbreak, a number of studies found that COVID-19 patients were having persistent dry eye symptoms for weeks and months after the recovery. This led to an increase in the prevalence of this condition as this is a common ophthalmic disease. Also, during the COVID-19, people’s work and study mode gradually shifted from offline to online, which resulted in an increase in prevalence of this condition. On the other hand, consultations for all the non-essential therapeutic measures were observed to have witnessed a decline during the pandemic, which resulted in a decrease in demand for these therapeutics.

• As per a study published by the Wiley Public Health Emergency Collection in March 2022, 64 patients were evaluated for 82 days after the onset of COVID-19 symptoms, out of which 11% reported signs and symptoms of dry eye disease. However, key drugs, such as AbbVie’s Restasis, witnessed a steep decline in their revenues for FY 2020.

However, market players witnessed a steady growth in their revenues, owing to the development of new sales channels in private hospitals and retail stores.

• In 2021 Novartis witnessed a major growth in the annual revenue of Xiidra, which was USD 192.0 million, USD 376.0 million, and USD 468.0 million in the financial year 2019, 2020, and 2021, respectively. The growth in revenue of Xiidra was mainly driven by sustainable increased brand awareness among diagnosed patients suffering from signs and symptoms of this condition.   

This growth continued in 2022 for some of the prominent players such as Santen Pharmaceuticals Co., which registered a growth of 21.0% for its Diquas ophthalmic solution. Such trends indicate that the market is set for steady growth during the study period.

LATEST TRENDS

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Increasing Incidence of Mask-Associated Dry Eye to Offer Growth Potential

A key trend witnessed in the global market is the increasing incidence of Mask-Associated Dry Eye (MADE). Face masks and face shields were crucial in the fight against COVID-19, and most of the ophthalmologists observed that more and more patients had dry eyes due to the prolonged use of face masks and increase in screen time during the COVID-19 pandemic period.

• For instance, as per an article published by the Indian Journal of Ophthalmology in February 2021, scientists from the Centre for Ocular Research & Education (CORE), Waterloo, Canada termed dry eye after use of face mask as mask-associated dry eye.

Moreover, after the outbreak of COVID-19, several medical associations reported a spike in cases of dry eye due to continuous use of face masks among people. Also, as the incidence of other infectious diseases, especially air borne diseases grows, the adoption of masks is expected to continue in the forecast period. This prevailing trend will drive the adoption rate of these products leading to market growth during the forecast period.

DRIVING FACTORS

Growing Prevalence of Dry Eye Syndrome to Drive the Market Growth

One of the critical drivers that positively impacts the global market is the extensive increase in the global prevalence of this condition. The prevalence of this chronic condition varies with age. However, the prevalence is increasing in the young as well as the older population due to growing usage of screens, improper diet, growing use of contact lenses, and rise in the number of LASIK surgeries. 

• As per an epidemiological study published by UpToDate, Inc., in January 2023, globally the prevalence of Dry Eye Disease (DED) ranged from 5%-50%. Therefore, the overall burden of dry eye syndrome is one of the highest in terms of cost and healthcare services as it affects a considerable proportion of the population.

Increase in the prevalence will propel the demand for more effective therapeutic measures for this disease, which will drive the dry eye syndrome market growth during the forecast period.

Strong R&D Investments to Support Pipeline Candidates will Boost the Market Growth

The increasing prevalence of dry eye syndrome is propelling the demand for efficient therapeutic options leading to better patient outcomes. The market growth will grow as the adoption rate and accessibility of these products will increase across the globe. A number of market players are upscaling their research activities and focusing on getting regulatory approval of therapeutically effective novel products, which will boost the growth of the global market in the forecast period.

• For instance, in September 2022, TearSolutions reported positive results for its pipeline candidate Lacripep from its first-in-human study, which is indicated to treat dry eye disease. Such positive results of pipeline candidates will accelerate the development and introduction process of novel drugs, eventually leading to the market growth.

RESTRAINING FACTORS

Low Importance Given to Ocular Health May Limit the Market Growth Prospects

One of the critical factors limiting the market growth is the attitude of the general population toward ocular health. People do not visit ophthalmologists on a regular basis unless there is a major symptomatic condition. Dry eye symptoms, such as redness, burning, and so on, are many times ignored and are not diagnosed. This results in the reduction of the patient pool that can be treated with these prescription drugs. Hence, this leads to a lower adoption rate of these eye care products, which limits the market expansion potential.

• According to a survey conducted in the U.K. and published by the Broadgreen University Hospital NHS Trust in March 2022, it was revealed that approximately 5 million people have never had an eye test and a quarter of the people surveyed haven’t had an eye test in more than three years.

Lower importance given to ocular conditions such as dry eye syndrome by the prospective patient population will limit the expansion of this market as it may hinder the adoption rate of these therapeutics in the forecast period.

SEGMENTATION

By Product Analysis

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Artificial Tears and Lubricants Segment Dominates the Market Due to High Adoption Rate in 2022

Based on product, the market is segmented into anti-inflammatory products, artificial tears and lubricants, and others.

The artificial tears and lubricants segment dominated the global dry eye syndrome market share in 2022. The segment’s growth is mainly driven by continuous launches of Over-The-Counter (OTC) medications to meet the rising demand from patients suffering from this condition. In April 2022, Théa Pharma Inc. launched the iVIZIA line of OTC eye-care products in the U.S., which helps in terms of lubrication for the dry eye syndrome. Such launches made by market players will lead to the increase in adoption of these products to meet the demand, and that will lead to the market growth during the forecast period.

The anti-inflammatory products segment held the second largest market share in 2022. These products have shown better treatment outcomes, which is driving its demand amongst the patient population and is anticipated to fuel the growth of this segment. In October 2021, Sun Pharmaceutical Industries Ltd. received an approval for Ikervis in Australia. It is a cyclosporin indicated to treat the inflammation caused by dry eye. Such regulatory approvals are expected to drive the segment’s growth during the forecast period.

The others segment includes the varenicline solution (Tyrvaya) nasal spray and other pipeline candidates for dry eye syndrome, which will display stable growth over the foracast period, after their prospective launches.

By Distribution Channel Analysis

Higher Obtaining of Therapeutics through Hospital Pharmacies Propelled the Dominance in 2022

By distribution channel, the market is classified into hospital pharmacies, retail pharmacies, online pharmacies, and others.

Hospital pharmacies segment held the majority share in 2022. The domination of the segment is attributed as increasing number of the medicines for the treatment of this disease. These medications can only be used after doing detailed inspections by qualified medical experts at these organizations.

Retail pharmacies fragment held the largest share after the hospital pharmacies segment in 2022, due to the use of the settings for attaining of prescription refills. The online pharmacies segment is set to grow at the maximum CAGR during the forecast period. The segment’s growth due to increasing rate of adoption of digital pharmaceutical platforms making medication procurement process easy by delivery.

The others segment held a comparatively lower share and is expected to grow at lower CAGR during the forecast period. Hence, all these factors collectively will fuel the global market growth.

REGIONAL INSIGHTS

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In terms of region, the global market is studied into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

The North America dry eye syndrome treatment market size was valued at USD 3.10 billion in 2022 and is likely to dominate the market throughout the forecast period due to increasing prevalence of this disease and growing adoption of drugs for the treatment. For instance, in March 2022, based on a report published by Eyes On Eyecare, dry eye disease is more prevalent than ever, with an estimated 35.0 million people in the U.S. suffering from this disease. Such rising prevalence is likely to surge the demand of these therapeutic measures, contributing to the regional growth during the forecast period.

The Europe market is expected to grow with substantial CAGR during forecast period, including the increase in the number of geriatric individuals suffering from this condition, which is likely to propel market growth across the region. For instance, in 2022, around 22.4% of the population in Germany fell under the age group of 65 years and above, which is anticipated to increase the burden of the disease in Germany during the forecast period. This will offer a lucrative opportunity for the market players to launch novel products during the forecast period.

The Asia Pacific market is expected to grow with highest CAGR during the forecast period and the growth in this region is primarily attributed to the higher preference of the patients toward the OTC drugs, new drug launches, and the rising prevalence of this condition across the region. Latin America and the Middle East and Africa are estimated to grow at a comparatively lower CAGR during the forecast period. This is due to comparatively lack of awareness amongst people in these regions coupled with low out-of-pocket expenditure for the diagnosis and treatment of this disease.

KEY INDUSTRY PLAYERS

AbbVie, Inc. Held a Significant Market Share in 2022 Due to Strong Brand Presence

In terms of competitive landscape, AbbVie, Inc. is one of the leading market players, owing to its robust distribution network and strong brand presence especially in the OTC artificial tear and lubricants segment with its leading brand of the Refresh range of artificial tears and lubricants. Alcon also held a considerable market share in 2022 and is focusing on maintaining its position by making strategic alliances to expand its portfolio.

Some other key players of the market include Novartis AG and Santen Pharmaceutical Co., Ltd, which are focusing on new product launches, getting regulatory approval in emerging countries to strengthen its business operations and supply chain network. Furthermore, there are several market players that are focusing on expanding research and development of novel drugs for the treatment of this condition. Some of them include Sun Pharmaceuticals Industries, Inc., Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Vision Care, Inc., and Sentiss Pharma Pvt. Ltd.

LIST OF KEY COMPANIES PROFILED:

• AbbVie Inc. (Ireland)


• Alcon (Switzerland)


• Novartis AG (Switzerland)


• Santen Pharmaceutical Co., Ltd. (Japan)


• OASIS Medical (U.S.)


• Sun Pharmaceutical Industries Ltd. (India)


• Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings, Co., Ltd) (Japan)


• Sentiss Pharma Pvt. Ltd. (India)


• Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.) (U.S.)


• VISUfarma (Netherlands)

KEY INDUSTRY DEVELOPMENTS:

• August 2022: Novaliq GmbH submitted New Drug Application (NDA) to the U.S. FDA for the approval for CyclASol (cyclosporine ophthalmic solution), which is a topical anti-inflammatory and immunomodulating ophthalmic drug solution, developed for the treatment of dry eye disease.


• December 2021: Ntc s.r.l. entered into a strategic partnership with I-MED Pharma Inc. to launch I-DEFENSE, HA-based dry eye ointment to the U.S. market.


• September 2021: Bausch Health Companies Inc. collaborated with Novaliq GmbH to develop the investigational drug NOV03 (perfluorohexyloctane), an eye drop used to treat the signs and symptoms of Dry Eye Disease (DED). The pipeline candidate is under phase 3 clinical study.


• April 2021: Alcon launched Systane Hydration Multi-dose preservative free lubricant eye drops in the U.S. market to provide long-lasting relief to patients with dry eyes.


• February 2021: AbbVie Inc. launched a new lubricant eye drop named REFRESH DIGITAL that supports all three layers of the tear film to keep eyes hydrated.

REPORT COVERAGE

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The global market research report provides qualitative and quantitative insights on the global market and a detailed analysis of global market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of dry eye disease, by key countries, key industry developments, pipeline analysis, new product launches, regulatory scenario, reimbursement policies, overview of novel approaches to treat dry eye, key industry trends, healthcare industry overview, the impact of COVID-19 on the market, and overview of over the counter eye lubricants in the market.

Report Scope & Segmentation