Global Dry Eye Syndrome Market - 2024-2031

Overview

The global dry eye syndrome market reached US$ 6.12 billion in 2023 and is expected to reach US$ 11.35 billion by 2031, growing at a CAGR of 8.1% during the forecast period 2024-2031.

Dry eye syndrome is a prevalent eye condition affecting millions globally, with a global prevalence ranging from 5% to 50%. Dry eye syndrome is a multifactorial eye disease caused by the loss of tear film homeostasis, leading to damage to the ocular surface and causing various symptoms such as redness, dryness, discomfort, itching, stinging, burning, irritation, pain, photophobia, and foreign body sensation. These symptoms can significantly impact patients' quality of life, reduce work and learning efficiency, and increase the risk of mental health disorders like depression and anxiety. Despite this, many people with DED remain untreated, especially among the young population.

Market Dynamics: Drivers & Restraints

Rising Product Development Activities and Regulatory Approvals

The market for dry eye syndrome is expected to attain lucrative growth in the forecast period, driven by rising product development activities and regulatory approvals. For instance, in January 2023, Bausch + Lomb Corporation launched Blink NutriTears over-the-counter supplements for dry eye in the U.S. market. These are clinically proven to be efficacious as nutritional supplements for the condition.

Moreover, in September 2023, Bausch + Lomb has announced the U.S. commercial launch of Miebo. It is a perfluorohexyloctane ophthalmic solution designed to treat signs and symptoms of dry eye disease by directly targeting tear evaporation.

Furthermore, in October 2024, Novaliq - a company focused on developing ocular therapeutics announced the approval of Vevizye (Cyclosporine 0.1% eye drops solution) in Europe by the European Commission.

Complications associated with the drugs

Dry eye is a common condition that can lead to various complications, including conjunctivitis, corneal ulceration, or scarring. Conjunctivitis is inflammation and swelling of the conjunctiva, a thin membrane covering the eye's white. While most cases resolve with treatment, severe cases can cause blindness. Corneal ulceration and scarring can cause pain and permanent vision changes. Symptoms of conjunctivitis and corneal scarring can be similar to dry eye, and individuals should seek immediate medical attention if they experience severe or worsening symptoms.

Segment Analysis

The global dry eye syndrome market is segmented based on type, treatment type, dosage form, distribution channel, and region.

Treatment Type:

Artificial tears segment is expected to dominate the dry eye syndrome market share

The artificial tears segment holds a major portion of the dry eye syndrome market share and is expected to continue to hold a significant portion of the dry eye syndrome market share during the forecast period.

Artificial tears also called lubricant eye drops help to lubricate and hydrate dry eyes. These are commonly prescribed as a first-line treatment for mild to moderate dry eye syndrome. They are widely available over the counter and can provide temporary relief from the symptoms of dryness, discomfort, and irritation in the eyes, by keeping the moisture locked inside the eyes.

Artificial tears work by supplementing the natural tear film and moisturizing the ocular surface. They typically contain a combination of water, electrolytes, lubricants, and other ingredients that mimic the composition of natural tears. These drops can help improve tear film stability, reduce friction between the eyelid and the ocular surface, and enhance overall eye comfort.

Patients with dry eye often require artificial tears, which provide a non-invasive solution for their chronic problem. Due to lower side effects, easy availability, and therapeutic benefits, artificial tears are widely prescribed. As the prevalence of dry eye is projected to increase, the market for artificial tears is also poised to experience significant growth.

The market is further fueled by novel product development and market launch activities by market players.

For instance, on January 12, 2022, Alcon, a prominent player in the eye care industry, introduced its latest product, Systane Complete Preservative-Free Lubricant Eye Drops, in Europe. This innovative addition to their dry eye product portfolio is available in a convenient multi-dose bottle.

Anti-Inflammatory drugs segment is the fastest-growing segment in the Dry Eye Syndrome market share

The anti-inflammatory drugs segment is the fastest-growing segment in the dry eye syndrome market share and is expected to hold the market share over the forecast period.

Nonsteroidal anti-inflammatory drugs (NSAIDs) are used to reduce inflammation in dry eye disease (DED) by inhibiting prostaglandin production. However, they can also reduce corneal sensation, potentially worsening damaged corneal epithelium. Studies on NSAID use in DED are typically shorter than a month, and their exact effects on corneal melting are not yet clear. Hypothesized mechanisms include activation of MMP, neurotrophic effect, and impaired wound healing from anesthetic action. Short-term NSAID use can alleviate discomfort, but caution and close monitoring are necessary due to potential risks to the corneal epithelium.

For instance, in June 2023, Novaliq GmbH, a German biopharmaceutical company concentrating on developing first and best-in-class ocular therapeutics, have revealed that the U.S. Food and Drugs Administration (FDA) has granted the approval for VEVYE (cyclosporine ophthalmic solution) 0.1% for use in the mitigation of dry eye disease signs and symptoms. VEVYE (development name CyclASol), is the first and only approved cyclosporine solution till date with improvement in dry eye disease signs and symptoms after 4 weeks of treatment.

Type:

Aqueous deficient dry eye segment is expected to dominate the dry eye syndrome market share

The aqueous deficient dry eye segment holds a major portion of the dry eye syndrome market share and is expected to continue to hold a significant portion of the dry eye syndrome market share during the forecast period.

Aqueous Deficient Dry Eye (ADDE) is one classification of dry eye conditions where there is insufficient production or secretion of the aqueous layer of the tear film usually caused by the ineffective functioning of the lacrimal glands. This causes a deficit in the quantity of tears in the eye making it hard to angle in the eye without causing agitations such as discomfort, irritation, burning or scratching.

Additionally ADDE is often found in women with Sjogren's syndrome which is an autoimmune disorder where immune system attacks mucosal glands such as tear and salivary glands causing less tear production. Other reasons are age-related disorders of lacrimal glands, some drugs, and some systemic conditions that may influence tear help. When there is an insufficiency of tear volume in the eye, the surface of the eye becomes more vulnerable to injury, inflammation, and even infection, that is why individuals suffering from ADDE would require effective procedures aimed at enhancing tear volume and relieving pain.

Evaporative dry eye segment is the fastest-growing segment in the dry eye syndrome market share

The evaporative dryg eye segment is the fastest-growing segment in the dry eye syndrome market share and is expected to hold the market share over the forecast period. Evaporative dry eye is a common condition where there is insufficient oil in tears, rather than the common aqueous deficiency dry eye, which is caused by insufficient water in tears.

Evaporative Dry Eye (EDE), mainly associated with environmental and lifestyle trends, is a crucial market driver of the global dry eye syndrome market. Urbanization has made many activities sedentary, accompanied by prolonged hours before a screen, which reduces the blinking frequency and thereby, increasing the rate of tear evaporation. In addition, air conditioning and heating systems and pollution typical of most cities encourage increased evaporation of the tear film. Evaporative dry eye is predominantly related to meibomian gland dysfunction (MGD), in which there is inadequate quantity and/or quality of lipids produced by the glands to inhibit tear loss by evaporation.

Geographical Analysis

North America is expected to hold a significant position in the dry eye syndrome market share

North America holds a substantial position in the dry eye syndrome market and is expected to hold most of the market share.

North America is well known for its advanced health care industry. The investments by market players are high in research and development activities and subsequent product launches. Due to higher disposable income, availability of care facilities, and high diagnosis and treatment rate in North America, especially in the U.S. and Canada the demand for advanced therapies is higher.

Moreover, the market players majorly generate their revenue from the region, which is a major contributing factor for the region's dominance. For instance, AbbVie Inc, has generated 436 USD million in 2023 for Restasis- a key product prescribed for dry eye. Among the total revenue the company has generated approximately 87% from the U.S., and the rest from international markets.

In addition, Viatris developed Tyrvaya a novel nasal spray approved by the U.S. FDA for dry eye has generated nearly 47 USD million in the first year of its launch i.e., 2023. The major portion of this revenue is from the U.S. market.

The availability of branded formulations in the U.S. and the revenue generated by the manufacturers act as a key contributor to the region's dominance.

Moreover, the higher prevalence of dry eye in the region is another factor contributing to market growth in the region. For instance, according to Johnson & Johnson Services, Inc., nearly 16 million U.S. population are living with dry eye disease. The cases are anticipated to increase in the forecasted period creating a demand for better therapeutics.

Asia Pacific is growing at the fastest pace in the dry eye syndrome market

Asia Pacific holds the fastest pace in the dry eye syndrome market and is expected to hold most of the market share.

The Asia-Pacific region has been a major contributor to the global dry eye syndrome market for various specific reasons. Countries such as China, India, and Japan have undergone rapid urbanization and industrial growth over the past few decades which has caused high levels of pollution which is a known aggravator of dry eye symptoms. The increase in the use of digital devices to perform work-related tasks and for leisure has therefore had the effect of increasing the amount of time spent on screens which in turn reduces the rate of blinking, thereby causing more incidences of dry eye syndrome.

In Japan and South Korea where the population is quite old, there is also increased uptake of dry eye syndrome management solutions given that older adults are at a higher risk of developing the dry eye associated with old age. Moreover, changes in lifestyle habits such as sitting in air conditioning left for prolonged periods of time in the cities has also resulted in a higher population suffering from dry eye disease.

For instance, in May 2024, HanAll Biopharma Co., Ltd. has launched a Phase III VELOS-4 trial to assess the effectiveness and safety of tanfanercept, a topical anti-inflammatory treatment for moderate to severe dry eye disease. The study, based on the results of the previous Phase III VELOS-3, showed significant improvement in the secondary outcome measure, Schirmer testing of tear volume. The top-line data for the Phase III VELOS-4 trial is expected in the second half of 2025.

Competitive Landscape

The major global players in the Dry Eye Syndrome market include AbbVi, Viatris Inc, Sun Pharmaceutical Industries, Inc, Bausch + Lomb, Alcon Inc, Santen Pharmaceutical Co., Ltd, OASIS Medical, Inc, Prestige Consumer Healthcare Inc, OCuSOFT, Otsuka Pharmaceutical Co., Ltd among others.

Emerging Players

The emerging players in the dry eye syndrome market include Eyevance Pharmaceuticals, Novaliq GmbH, Aldeyra Therapeutics, Aerie Pharmaceuticals among others.

Key Developments

• In October 2024, Aldeyra Therapeutics, Inc (Aldeyra), a biopharmaceutical company focused on the discovery and the development of new treatment options for disorders of the immune system as well as metabolic disorders, announced that it has resubmitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for investigational topical ocular reproxalap for the treatment of dry eye syndrome.
• In June 2023, Novaliq GmbH, a biopharmaceutical company focused on developing groundbreaking eye care products, has revealed that the Food and Drug Administration (FDA) has sanctioned the use of VEVYE (cyclosporine ophthalmic solution) 0.1% for management of dry eye syndrome. VEVYEl, is the first and sole cyclosporine solution allowed for the treatment dry eye diseases with proven effectiveness within 4 weeks of therapy.

Why Purchase the Report?

• To visualize the global dry eye syndrome market segmentation based on type, treatment type dosage form, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the dry eye syndrome market with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in excel consisting of key products of all the major players.

The global dry eye syndrome market report would provide approximately 70 tables, 65 figures, and 184 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies