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Europe 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

Last Updated: April 08, 2024 | Format: PDF | Report ID: FBI107540

 

KEY MARKET INSIGHTS

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Europe is the second largest region in the global dry eye syndrome market. It is projected to grow at a CAGR of 6.1% during the forecast period. The global market for dry eye syndrome is projected to grow from USD 6.61 billion in 2022 to USD 11.26 billion by 2030.


The growing adoption of innovative therapeutics for treating dry eye syndrome has led market players in the region to accelerate their R&D activities. These companies are focusing on getting regulatory approvals to meet the growing demand of patients suffering from dry eye syndrome. For instance, in February 2023, Novaliq GmbH, a Germany-based company, filed the Marketing authorization Application (MAA) for CyclASol (ciclosporin ophthalmic solution), an anti-inflammatory product for the treatment of Dry Eye Disease (DED) in the European Union. Similar efforts from leading players will accelerate the Europe market growth during the forecast duration.


Our report on the Europe dry eye syndrome market covers the following countries/regions – the U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe.


LATEST TRENDS


Rising Prevalence of Dry Eye Coupled with Rising Geriatric Population to Foster Market Growth


Dry eye syndrome is a commonly occurring ocular condition and has become a frequent reason for patients to seek eye care. Studies have observed that the prevalence of suffering from this condition increases with growing age as well as among patients with existing chronic conditions such as diabetes, rheumatoid arthritis, thyroid disorders, and many more. According to a study published by the BMJ Journal in February 2021, the overall prevalence of dry eye disease was 9.6% amongst a female cohort in the U.K. while the prevalence of reported symptoms of this condition in the previous three months was 20.8%. The study further stated that the prevalence of this condition in the U.K. is higher among women as compared to men and increases with age, with the majority of the individuals aged above 50 years.  


DRIVING FACTORS


New Product Launches to Accelerate the Europe Dry Eye Syndrome Market Growth


One of the crucial factors driving the market growth is the focus of market players on getting regulatory approvals for their products and introducing novel therapeutic measures in the market. These companies are also actively investing in supporting and accelerating the development of pipeline candidates. This provides wider treatment options to the patient population and also increases the adoption of these products, which will augment the market size.



  • For instance, in January 2022, Alcon launched the Systane Complete Preservative-Free Lubricant Eye Drops in Europe. Systane is an artificial tear brand and is available in multi-dose bottles. This helps the company to expand its footprint in the fast-growing artificial tears category.


RESTRAINING FACTORS


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Stringent Regulatory Requirement for Approval to Hamper Growth 


One of the key restraining factors for the market growth is the stringent regulatory process for getting approval for products indicated for the treatment of this condition. The stringent regulatory process influences the investment strategies of companies involved in this market as it leads to delays in the commercial launches of products and restricts its market presence. Despite this condition, being a commonly occurring disease, this encourages market players to withdraw their products from the market to continue their sustainable revenue growth. Furthermore, the high cost of specialty dry eye products restricts the market growth.



  • For instance, in June 2020, Novartis Europharm Ltd. withdrew its application for marketing authorization of Xiidra (Liftegrast) for the treatment of dry eye disease from Europe. The company decided to discontinue its product, the objections raised by European Medicines Agency (EMA) cannot be resolved in the given time frame. Hence, such factors are expected to hinder the growth of the market in the forthcoming years.


KEY INDUSTRY PLAYERS


In terms of the competitive landscape, Alcon and Santen Pharmaceutical Co., Ltd. are some of the prominent players dominating the Europe dry eye syndrome market share, owing to the strategic expansion of their business by getting regulatory approvals to introduce novel products, which will lead to the market growth in the forecast period.


Other players, such as Sun Pharmaceuticals Industries, Inc., Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Vision Care, Inc., and Sentiss Pharma Pvt. Ltd., also held significant markets due to their active investment in supporting and accelerating the development of their pipeline candidates. These companies are also focused on strengthening their product portfolio and distribution network through strategic collaboration and partnerships to increase their market share in the Europe market.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • October 2022: Oculis, SA entered into a definitive business combination agreement with European Biotech Acquisition Corp. to accelerate the development of Oculis’s ophthalmology pipeline candidates.

  • February 2022: Ntc s.r.l. entered into an exclusive agreement with Laboratoires Théa to grant marketing rights for its innovative preservative-free lubricating and lenitive eye spray in Western Europe.

  • May 2022: Bausch + Lomb in collaboration with a Germany-based company, Novaliq GmbH announced positive results for its phase three investigational treatment NOV03, which is under clinical trial to treat signs and symptoms of dry eye disease associated with Meibomian Gland Dysfunction.


REPORT COVERAGE


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The Europe dry eye syndrome market research report provides qualitative and quantitative insights on the market and a detailed analysis of the Europe market size & growth rate for all possible segments in the market. Along with the Europe market forecast, the research report provides an elaborative analysis on the basis of distribution channel and competitive landscape. Various key insights presented in the report are prevalence of this type of syndrome such as key countries, key industry developments, new product launches, reimbursement policies, regulatory scenario, healthcare industry overview, by key countries, and the impact of COVID-19 pandemic on the market.


Report Scope & Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 6.1% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Product, Distribution Channel, and Country/Sub-Region



By Product




  • Anti-inflammatory Products

    • Cyclosporin

    • Corticosteroids

    • Others



  • Artificial Tears and Lubricants

  • Others



By Distribution Channel




  • Hospital Pharmacies

  • Retail Pharmacies

  • Online Pharmacies

  • Others



By Country/ Sub-Region




  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Scandinavia

  • Rest of Europe



 


 


 


 


 


 


 


 


 


 


 





Frequently Asked Questions

Growing at a CAGR of 6.1%, the market will exhibit steady growth in the forecast period (2023-2030).

The rising prevalence of this condition and increasing demand for effective therapeutic measure are the major factors driving the growth of the market.

Alcon and Santen Pharmaceutical Co., Ltd. are the major market players in the Europe market.

Germany dominated the market in 2022.

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