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Increasing Number of Research and Development Activities Expected to Drive the Market's Growth

 

The growth in the prevalence of dry eye syndrome, which is related to several reasons is a major driver in the development of the worldwide dry eye syndrome market. The syndrome is more common among the ageing population because their tear glands become less effective as they age and cannot produce enough tear fluid to maintain an eye-lubricating layer. The greater frequency of other illnesses such as diabetes that can impair ocular function is a major contributing cause to the rising incidence of dry eye syndrome. The weeping glands will be negatively impacted by the changes in the patient's blood composition brought on by diabetes, leading to dry eye syndrome. Numerous conditions, such as vitamin A deficiency, lupus, thyroid disease, and rheumatoid arthritis, can indirectly induce dry-eye syndrome. The market is anticipated to develop as a result of the increasing prevalence of these disorders.

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According to Data Bridge Market Research the Dry Eye Syndrome Market accounted for USD 4.20 billion in 2021, and expected to reach USD 7.38 billion by 2029. The market is expected to grow with a CAGR of 7.30% in the forecast period of 2022 to 2029.

“Advancements in Clinical Trials Will Aid Growth”

The developments in dry eye syndrome drugs' clinical trials will be positive for the businesses competing in the market. Several significant businesses have advanced ongoing clinical trials. A clinical trial funded by Senju Pharmaceutical Co., Ltd. and titled "A Study to Assess the Safety and Effectiveness of SJP-0035 for Treatment of Patients with Dry Eye Syndrome" made progress in April 2019. It is presently in phase 3 of the trial. Such improvements in medication trials will directly affect the market's expansion during the next few years.

What restraints the growth of Dry Eye Syndrome Market?

“Disadvantages Associated with Dry Eye Syndrome Are Expected to Hamper the Market's Growth”

The market's growth pace will be hindered by the drug approval process's delay. The dry eye syndrome market will face difficulties due to a shortage of highly qualified workers and a lack of healthcare infrastructure in developing nations. Additionally, during the forecast period of 2022–2029, tight drug approval procedures of testing bodies that postpone the introduction of new pharmaceuticals would act as a restraint and further hamper the market's growth rate.

Segmentation: Dry Eye Syndrome Market

The dry eye syndrome market is segmented on the basis of product type, dosage type, drug class, dose, medication type, container type, packaging type, type, end-users and distribution channel.

  • On the basis of product type, the market is segmented into tear stimulators, artificial tears, secretagogue and others.
  • On the basis of dosage type, the market is segmented into liquid, semi solid and others.
  • On the basis of drug class, the market is segmented into anti-inflammatory, lubricating agents, anti-infectives, anti-allergics, cholinergics and others.
  • On the basis of dose, the market is segmented into multi dose and unit dose.
  • On the basis of medication type, the market is segmented into prescription (RX) drugs, and over the counter (OTC) drug.
  • On the basis of container type, the market is segmented into unit dose vials, bottles, and tubes.
  • On the basis of packaging type, the market is segmented into plastic, glass, and aluminium.
  • On the basis of type, the market is segmented into generics and brands.
  • On the basis of end-users, the dry eye syndrome market is segmented into hospitals, specialty clinics, homecare and others.
  • On the basis of distribution channel, the dry eye syndrome market has also been segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.

Regional Insights: North America is expected to dominate the Dry Eye Syndrome Market

North America is expected to dominate the market because dry eye disease is becoming more common in this area. The increased attention of significant market participants on emerging technology will also accelerate the market's growth rate in this area.

In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to the region's growing population and rising healthcare costs.

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Recent Developments in Dry Eye Syndrome Market

  • In January 2022, Sun Pharma already announced the arrival of Cequa, a dry eye medication, in Canada. It is the first treatment for dry eye illness to use nanomicellar (NCELL) technology. This method increases the cyclosporine's bioavailability and physiochemical stability to increase eye tissue penetration.

The Prominent Key Players Operating in the Dry Eye Syndrome Market Include:

  • Teva Pharmaceutical Industries Ltd (Israel)
  • Sanofi (France)
  • Novartis AG (Switzerland)
  • Eli Lilly and Company (U.S.)
  • Merck & Co., Inc. (U.S.)
  • AstraZeneca (U.K.)
  • Johnson & Johnson Private Limited (U.S.)
  • Abbott (U.S.)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • AbbVie Inc. (U.S.)
  • Otsuka America Pharmaceutical, Inc. (U.S.)
  • Pfizer Inc. (U.S.)
  • GSK plc (U.K.)
  • Merck KGaA (Germany)
  • Akorn Operating Company LLC (U.S.)
  • Allostera Pharma Inc. (Canada)
  • I-Med Pharma Inc. (Canada)
  • Santen Pharmaceuticals Co. Ltd., (Japan)
  • AFT Pharmaceuticals (New Zealand)
  • Novaliq GmbH (Germany)  

Above are the key players covered in the report, to know about more and exhaustive list of dry eye syndrome    market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Global Dry Eye Syndrome Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.