The Dry Eye Disease Market is estimated to be valued at US$ 5750.66 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Dry eye disease, also known as keratoconjunctivitis sicca, is a multifactorial disease of the tears and ocular surface that results in symptoms of discomfort, visual disturbance, and tear film instability with potential damage to the ocular surface. It is accompanied by increased osmolarity of the tear film and inflammation of the ocular surface. The major symptoms of dry eye disease include burning, stinging, soreness, itchy and irritated eyes. Treatment includes tear substitutes, called artificial tears, anti-inflammatory medications, ointments and plugs that release tears and tears all night. While severe cases require surgery, newer therapies aim to stimulate tear glands or block neuro Signals to reduce dryness.
Increasing prevalence of dry eye disease driven by aging population and rising screen time is a major driver expected to fuel market growth over the forecast period. According to the American Academy of Ophthalmology, dry eye disease affects around 30 million Americans annually. With increasing life expectancy and older population, burden of chronic illnesses like dry eye will continue to rise. Additionally, widespread usage of digital devices like smartphones, tablets and laptops for extended periods have raised the prevalence of dry eye disease due to decreased blinking rates.
Another driver is the introduction of innovative therapies. Companies are investing in R&D to develop novel treatment options beyond artificial tears. This include therapies targeting tear glands stimulation through secretagogues, punctal plugs that block tear drainage, moisturizing ointments and immunomodulators targeting ocular surface inflammation. For example, companies are developing cell-based therapies using autologous adult mesenchymal stem cells that regenerate tear glands and enhance tear volume. If proven safe and effective, such innovative therapies can transform dry eye management.
The global dry eye disease market can be segmented based on product type, distribution channel, and geography. By product type, the market is classified into (1) tear substitutes, which is dominating segment, holding around 60% market share due to easy availability and low cost. Tear substitutes are used to provide temporary relief and lubrication to eyes. (2) Anti-inflammatory Drugs, (3) Autologous Serum Eye Drops. By distribution channel, the market is divided into (1) hospital Pharmacies, which is dominating segment due to availability of wide range of treatment options, (2) Retail Pharmacies, (3) Online Pharmacies. Geographically, North America is currently dominating dry eye disease market due to high awareness and easy availability of treatment options in the region.
Political: Government regulations and reimbursement policies play a significant role in dry eye disease market. Favorable government initiatives to increase awareness regarding dry eye disease.
Economic: Rising geriatric population suffering from dry eye disease and increasing healthcare expenditure boosting the market growth.
Social: Increasing prevalence of diabetes and other chronic diseases causing dry eye disease. Rising awareness through social media platforms regarding symptoms and treatment options.
Technological: Advancements in diagnostic techniques like tear breakup time measurement, introduction of novel drug delivery systems, and therapies enhancing the growth.
The global Dry Eye Disease Market Share size was valued at US$ 5750.66 Mn in 2023 and is expected to reach over US$ 8000 Mn by 2030, exhibiting a CAGR of 5.1% during the forecast period.
North America dominated with around 40% market share in 2023 due to high awareness and advanced healthcare infrastructure in the region. Asia Pacific is anticipated to witness fastest growth over the forecast period owing to rising geriatric population, improving healthcare facilities, and increasing healthcare expenditure.
Key players analysis
Key players operating in the dry eye disease market are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd., among others. These players are focusing on R&D activities to develop advanced treatment options
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it