Dry Eye Syndrome Global Market Report 2023

May 28, 2023

Major players in the dry eye syndrome market are Allergan plc, Novartis AG, Otsuka Pharmaceutical Co. Ltd., Santendo Pharmaceutical Co. Ltd., Sentiss Pharma Pvt. Ltd., Johnson And Johnson, Alcon Vision LLC, Akorn Operating Company LLC, Sun Pharmaceutical Industries Ltd.

New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dry Eye Syndrome Global Market Report 2023" - https://www.reportlinker.com/p06486471/?utm_source=GNW , Bausch Health Companies Inc., AbbVie Inc., GlaxoSmithKline Plc., I-MED Pharma Inc., Hoffmann-La Roche AG, and Acadia Pharmaceuticals Inc.The global dry eye syndrome market is expected to grow from $3.40 billion in 2022 to $3.68 billion in 2023 at a compound annual growth rate (CAGR) of 8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dry eye syndrome market is expected to reach $4.86 billion in 2027 at a CAGR of 7.3%.The dry eye syndrome market includes revenues earned by entities by providing services such as dry eye diagnosis, treatment of dry eye syndrome, prescribed medications, antibiotics, humidifiers, and protective eyewear.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.Dry eye syndrome, commonly known as dry eye illness, is a common disorder in which the eyes either do not produce enough tears or produce poor-quality tears.Dry eye occurs when your eyes do not produce enough tears to keep your eyes moist.This can cause discomfort, irritation, and inflammation of the eyes.North America was the largest region in the dry eye syndrome market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in dry eye syndrome report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of products for dry eye syndrome are liquid drops, gel, liquid wipes, eye ointment, and others.Liquid eye drops refer to a fluid formulation applied directly into the eyes to provide moisture, lubrication, and relief from dryness and irritation.It includes various treatments, such as corticosteroids, artificial tears, oral omega supplements, lubricating agents, and others.It is distributed through offline and online channels, and it is used to treat evaporative and aqueous diseases.These are used for several applications, including hospitals and clinics, medical laboratories, and others.The growing prevalence of dry eye syndrome is expected to propel the growth of the dry eye syndrome market going forward.Dry eye syndrome is when eyes do not produce enough tears.Dry eye syndrome products and medications help treat dry eye syndrome by providing lubrication and moisture to the eyes, increasing tear production, improving tear quality, reducing inflammation, and protecting the ocular surface.For instance, in March 2022, according to a survey conducted by Eyes On Eyecare with 540 eyecare experts, a US-based eyecare professionals company, according to the report, 35 million Americans will suffer from dry eye disease (DED) in 2022, with the frequency increasing year after year.Furthermore, according to UpToDate Inc., a US-based health information provider, in 2022 meta-analysis of three US studies showed an 8.1% pooled prevalence of dry eye. Therefore, the rising prevalence of dry eye syndrome is driving the dry eye syndrome market.Product innovation is a key trend gaining popularity in the dry eye syndrome market.Major companies operating in the home dry eye syndrome market are developing innovative products to sustain their position in the market.For instance, in May 2023, Entod Pharmaceuticals Ltd., an India-based company, launched Cyclotears eye drops, especially to treat dry eye disease. This innovative product was developed with self-emulsifying drug delivery system (SEDDS) technology, which enhances the ocular delivery of poorly water-soluble drugs. Cyclotears eye drops are formulated with cyclodextrin, which is intended to improve the stability and retention time of the tear film on the surface of the eye. Some of the claimed features of Cyclotears eye drops included a novel active ingredient, improved retention time, a lubricating effect, and being safe and preservative-free.In June 2022, Novartis AG., a Switzerland-based pharmaceutical corporation, acquired Kedalion Therapeutics., for an undisclosed amount. With this acquisition, Novartis AG aims to deliver innovative, customer- and patient-centric ophthalmic advancements for a range of eye conditions, expand its presence in the rapidly growing ophthalmology market, and strengthen its position as a leader in the field. Kedalion Therapeutics is a US-based clinical-stage ophthalmic drug company that provides dry eye syndrome products and preventive services.The countries covered in the dry eye syndrome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The dry eye syndrome market research report is one of a series of new reports that provides dry eye syndrome market statistics, including dry eye syndrome industry global market size, regional shares, competitors with a dry eye syndrome market share, detailed dry eye syndrome market segments, market trends, and opportunities, and any further data you may need to thrive in the dry eye syndrome industry. This dry eye syndrome market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06486471/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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