Press Release / Business / Global Dry Eye Syndrome Market is Estimated to Reach $5 Billion by 2024

Global Dry Eye Syndrome Market is Estimated to Reach $5 Billion by 2024

Global Dry Eye Syndrome Market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2024; growing at a CAGR of 6.8% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Upsurge in instances of dry eye syndrome drives the global market

Increase in occurrence of dry eye syndrome, rising geriatric population, and increasing awareness about this syndrome are some of the major reasons driving the growth. Though, expiry of patents on major drugs used in the treatment is a major deterrent for the dry eye syndrome market growth. Furthermore, technological advancement and steady government support for medical research is likely to boost the growth opportunities for the market.

Market Segmentation

The global dry eye syndrome market is split into type, treatment type, and geography. By type the market is categorized into evaporative dry eye & aqueous dry eye. Based on treatment type, the market is divided into serum eye drops, nutritional supplement, lubricant eye drops and anti-inflammatory drugs.

North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.

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“Aqueous dry eye accounted for the largest market share in the type segment", says Accurize

Aqueous dry eye accounted for the largest market share in 2017, and are anticipated to continue its dominance during the forecast period 2017 – 2025, in type segment. Nutritional supplements accounted for the largest market share in 2017, and are likely to remain the largest over the forecast period.Whereas, lubricant eye drops sub segment is anticipated to grow at a fastest CAGR from 2017 to 2025.

"North America dominated the global market with the highest market share over the forecast period", says Accurize

North America accounted for the largest share, because to the growing number of patients with this syndrome, advanced healthcare infrastructure, increased number of diseases such as diabetes, lupus, rheumatoid arthritis, scleroderma, and Sjogren’s syndrome, among others.

Top players in the market

Major players operating in the market include Allergan, Alcon, EyegatePharma, Otsuka Holdings, Santen Pharmaceutical, Bridge Pharma Inc., LTT Bio-Pharma, Can-FiteBiopharma, Shire/SAR code Bioscience, and Novartis among others.