Global dry eye syndrome market is expected to reach an estimated value of ~USD 600 million by 2033, by expanding at a CAGR of ~8%.

NEW YORK, NEW YORK, UNITED STATES, November 16, 2022 /EINPresswire.com/ -- Global Dry Eye Syndrome Market Key Insights
During the forecast period of 2023-2033, the global dry eye syndrome market is expected to reach an estimated value of ~USD 600 million by 2033, by expanding at a CAGR of ~8%. The market further generated a revenue of ~USD 300 million in the year 2022. Major key factors propelling the growth of the dry eye syndrome market worldwide are the increasing prevalence of dry eye syndrome and the rising expenditure on the healthcare sector.

Market Definition of Dry Eye Syndrome
A public health issue, dry eye disease (DED) causes ocular discomfort, weariness, and visual disturbances that reduce the quality of life. One of the most prevalent and unpleasant ocular surface conditions (OSDs). It happens when the amount of moisture/lubrication provided by tears is insufficient or when there is insufficient tear formation. The presence of this illness can cause a variety of symptoms, including redness, burning, inflammation, itching, and blurred vision. Dry eye syndrome treatment includes a wide range of therapeutics that are being utilized to treat dry eye syndrome. The use of these medicines allows patients to lead meaningful lives by greatly reducing a variety of symptoms related to dry eye disease.

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Global Dry Eye Syndrome Market: Growth Drivers
The increase in dry eye syndrome cases and rising treatment costs are the main factors driving the market expansion. The entire cost of dry eye treatments is projected to exceed USD$6.6 billion by the end of 2027. As a side effect of the laser treatment, dry eye issues are anticipated. Therefore, the increase in laser operations is predicted to accelerate the market's growth for dry eye syndrome. Up to 95% of patients may experience dry eyes—a condition in which the eyes produce fewer tears—after laser eye surgery. The market is also anticipated to develop as a result of increasing use of eye drops and a rise in the world's geriatric population.

The global dry eye syndrome market is also estimated to grow majorly on account of the following:
• Increasing geriatric population
• Rising prevalence of dry eye syndrome
• Technology advancement in the treatment of dry eyes
• New product launches by key market players
• Growing healthcare expenditure

Global Dry Eye Syndrome Market: Restraining Factor
The ordinary populace knows very little about eye health. Many of the symptoms of dry eyes, which can be swiftly cured or relieved with a correct diagnosis and medications, are not well known. People don't typically visit an ophthalmologist unless there is a major issue. Hence this factor is expected to be the major hindrance for the growth of the global dry eye syndrome market during the forecast period.

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Global Dry Eye Syndrome Market Segmentation
• By End User (Hospitals, Eye Clinics, and Others)
The eye clinics segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the Increasing demand and the abundance of eye clinics and optometrists around the world. There were over 1000 eye surgery clinics in the US in 2022. Additionally, there are about 300,000 optometrists worldwide in 123 nations and the World Economic Forum estimates that approximately 14 million optometrists are required globally to meet demand.
• By Type (Evaporative, and Aqueous)
• By Diagnosis (Schirmer Test, and Eye Exam)
• By Treatment (Nutritional Supplements, and Surgery)
• By Region

The North America dry eye syndrome market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The growth of the market can be attributed to the increasing number of persons with dry eye syndrome. In America, between 16 and 49 million people have dry eyes, which accounts for 15% of the population. The increased use of eye drops also contributes to the market expansion in the region. By 2024, it is projected that over 123 million Americans would have used eye drops and eye wash, up from the close to 120 million who did so in 2020. Further, the increasing investment in healthcare sector development and the rising geriatric population in the area are anticipated to drive market growth.

The market research report on global dry eye syndrome also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

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Key Market Players Featured in the Global Dry Eye Syndrome Market
Some of the key players of the global dry eye syndrome market are Lumenis, Johnson & Johnson Services Inc., Alcon, Allergan, Novartis AG, Allostera Pharma Inc., I-Med Pharma Inc., Acadia Pharmaceutical Inc., Otsuka Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., and others.

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