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Dry Eye Syndrome Market Growth Analysis Report 2023-2028: Key Trends and Forecast

Dry Eye Syndrome Market Growth Analysis Report 2023-2028: Key Trends and Forecast

The market is primarily driven by the increasing prevalence of dry eye syndrome in individuals across the globe.

BROOKLYN, NY, UNITED STATES, July 25, 2023/ -- How big is the dry eye syndrome market?

The global dry eye syndrome market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.67% during 2023-2028.

What is dry eye syndrome?

Dry eye syndrome, or dry eye disease or keratoconjunctivitis sicca, is a common ocular condition that influences the quality and quantity of tears, resulting in insufficient lubrication and moisture of the eyes. It occurs when the eyes fail to create enough tears or when the tears vaporize too quickly. In individuals with dry eye syndrome, the tear film becomes unstable and inadequate, leading to a range of uncomfortable symptoms. Dry eye syndrome symptoms include dryness, itching, burning, redness, a gritty sensation, excessive tearing, sensitivity to light, and blurred vision, which can vary in severity and can significantly impact daily activities, such as reading, using digital devices, or driving. It can be caused by hormonal changes, age, certain medical conditions such as diabetes and autoimmune disorders, medications, environmental factors including dry or windy climates, prolonged screen time, and contact lens wear. In addition, treatment options for dry eye syndrome aim to alleviate symptoms, improve tear production, and maintain eye health by including the use of prescription medications, warm compresses, artificial tears or lubricating eye drops, eyelid hygiene, lifestyle modifications, and in severe cases, procedures or surgeries to conserve tears or enhance tear production.

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What are the growth prospects and trends in the dry eye syndrome industry?

The market is primarily driven by the increasing prevalence of dry eye syndrome in individuals across the globe. In addition, the growing geriatric population, rapid urbanization, rising digitization, the increasing use of digital devices, prolonged screen time, pollution, and dry air led to the growing incidence of dry eye syndrome. Moreover, several advancements in diagnostic technologies, innovative tools, and techniques, such as tear film analysis and ocular surface imaging, allow healthcare professionals to accurately diagnose and assess the severity of dry eye syndrome representing another major growth-inducing factor. This facilitates personalized treatment approaches, leading to improved patient outcomes. Along with this, the introduction of artificial intelligence (AI) and machine learning (ML) algorithms in diagnostic systems is improving the efficiency and accuracy of dry eye syndrome diagnosis, further augmenting the market growth. Besides this, the increasing awareness and understanding of the condition among healthcare professionals and the general population is accelerating market growth. Also, education initiatives, awareness campaigns, and increased media coverage have contributed to greater recognition of dry eye syndrome as a chronic and debilitating condition. As a result, more individuals are seeking medical intervention and exploring available treatment options. Apart from this, healthcare providers are actively investing in research and development (R&D) activities to develop novel therapies and enhance existing treatment modalities, further driving market expansion. Furthermore, the widespread adoption of innovative treatment approaches with traditional therapies, such as lubricating eye drops, remains the cornerstone of treatment, and new interventions, such as in-office procedures and novel drug formulations, offer improved efficacy, longer-lasting relief, and better patient compliance creating a positive market outlook.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Disease Type Insights:

• Evaporative Dry Eye Syndrome
• Aqueous Dry Eye Syndrome

Drug Type Insights:

• Anti-inflammatory Drugs
• Lubricant Eye Drops
• Autologous Serum Eye Drops

Distribution Channel Insights:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

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Who are the key players operating in the industry?

The report covers the major market players including:

• Akorn Operating Company LLC
• Alimera Science
• Allergan plc.
• Auven Therapeutics
• Bausch + Lomb Incorporated
• GlaxoSmithKline plc
• Nicox S.A.
• Novartis AG
• Otsuka Holdings Co., Ltd.
• Santen Pharmaceutical Co., Ltd.

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Elena Anderson
IMARC Services Private Limited
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