PUBLISHER: The Insight Partners | PRODUCT CODE: 1666253
PUBLISHER: The Insight Partners | PRODUCT CODE: 1666253
The Europe dry eye products market was valued at US$ 1,617.59 million in 2023 and is expected to reach US$ 2,311.60 million by 2031; it is estimated to register a CAGR of 4.6% from 2023 to 2031.
Upsurge in Geriatric Population Drives Europe Dry Eye Products Market
Dry eye syndrome is a common eye disorder affecting a substantial share of the population, especially those older than 50. Middle-aged and older adults are more common targets of this syndrome, which can be associated with the usage of contact lenses, the prevalence of autoimmune diseases, systemic drug effects, and refractive surgeries. The burden of dry eye syndrome would continue to surge due to increased life expectancy, along with the rising cases among the elderly population. According to the World Health Organization (WHO), the population aged 60 and above would increase from 1 billion in 2020 to 1.4 billion by 2030; the number is further likely to double and reach ~2 billion by 2050. The number of individuals aged 80 and above is expected to triple from 2020 to 2050 to reach 426 million. Thus, the demand for dry eye products such as artificial tears is increasing with the growing geriatric population worldwide.
Europe Dry Eye Products Market Overview
The Europe dry eye products market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region occupies a significant position in the Europe dry eye products market and is expected to record a strong CAGR during the forecast period. The market growth in the region is mainly attributed to rising incidences of glaucoma (leading to the growing cases of dry eye condition), availability of new products, the surging aging population, and rising awareness about DED. Germany is a country with a large number of patients living with eye disorders. Due to the widespread occurrence of ophthalmic conditions such as glaucoma, cataracts, and retinal detachments, eye drops have become increasingly important in the country. According to the "Incidence of Retinal Detachment in Germany: Results from the Gutenberg Health Study," published in Ophthalmologica in May 2021, the incidence of retinal detachment disease in Germany was 42 per 100,000 people per year in the age group of 35-74. Compared to estimates from other European nations, Germany has a high incidence of retinal detachment in people from this age group.
According to the Federal Statistical Office (Destatis), in 2021, ~16.2 million people in Germany aged 67 or more, and the number is projected to rise to 21.6 million by 2060. Eyesight problems and other illnesses are more common among older people. The aging population is more likely to develop eye-related diseases during the projected period, thereby driving the growth of the dry eye products market in Germany.
Europe Dry Eye Products Market Revenue and Forecast to 2031 (US$ Million)
Europe Dry Eye Products Market Segmentation
The Europe dry eye products market is categorized into product, dosage form, type, distribution channel, and country.
Based on product, the Europe dry eye products market is segmented into artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, oral omega supplements, and others. The artificial tears segment held the largest Europe dry eye products market share in 2023. Furthermore, the anti-inflammatory drugs segment is subcategorized into cyclosporine, corticosteroid, and others. Additionally, the punctal plugs segment is subsegmented into dissolvable and removable.
In terms of dosage form, the Europe dry eye products market is segmented into eye drops, gel, capsules and tablets, and others. The eye drops segment held the largest Europe dry eye products market share in 2023.
By type, the Europe dry eye products market is bifurcated into OTC and prescription. The OTC segment held a larger Europe dry eye products market share in 2023.
Based on distribution channel, the Europe dry eye products market is categorized into retail pharmacy, hospital pharmacy, and online pharmacy. The retail pharmacy segment held the largest Europe dry eye products market share in 2023.
Based on country, the Europe dry eye products market is categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe dry eye products market share in 2023.
Santen Pharmaceutical Co Ltd, Johnson & Johnson, OASIS Medical, URSAPHARM Arzneimittel GmbH, Rohto Pharmaceutical Co Ltd, OCuSOFT Inc, Bausch Health Companies Inc, AbbVie Inc, Prestige Consumer Healthcare Inc, Farmigea SpA, and Alcon AG. are some of the leading companies operating in the Europe dry eye products market.