Common forms of artificial tears are known for being quick-fix remedies to dry eye syndrome. Drops of artificial tears with CMC and HPMC formulations were a top-selling product in the global market for dry eye syndrome treatment. Now, new products formulated from derivations of hyaluronic acid are witnessing a soaring demand among dry eye syndrome patients from around the world. Future Market Insights’ latest study on the global dry eye syndrome treatment market predicts that developing products with hyaluronic acid formulations will be observed lucrative for the market’s overall expansion.
According to the study, the global market for dry eye syndrome treatment is anticipated to bring in over US$ 4,500 Mn revenues by the end of 2017. Growing preference of consumers towards preservative-free, single dose remedies on dry eye syndrome is expected to stimulate the market’s growth. The market is also expected to witness promising support from governments & private organisations through awareness campaigns and other initiatives in the field of ophthalmic care. Towards the end of 2027, the global market for dry eye syndrome treatment is predicted to expand robustly at 6.4% CAGR, roughly doubling the 2017 value estimations by reaching US$ 6,609.3 Mn.
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Dry Eye Syndrome Treatment Market – Key Trends
Public service programs in developed economies such as the US are providing eye care through volunteering ophthalmologists. These service are free of costs, successfully drawing attention of masses. Participation of government health authorities in such eye care drives is expected to promote the market’s growth. Reduced average length of stay (AVLOS) of dry eye syndrome treatment is also driving their demand among ophthalmology labs. Increasing demand for preservative-free eye care products, harmonised data collection, and availability of advanced labs to treat dry syndrome are also observed as key trends in the global dry eye syndrome treatment market.
Forecast Highlights & Key Players
The report has profiled key players in the global market for dry eye syndrome treatment. A competitive landscape on global dry eye syndrome treatment market includes companies such as Allergan Plc., Novartis AG, Otsuka Pharmaceutical Co. Ltd., Shire Plc., Santen Pharmaceutical Co Ltd., Valent Pharmaceuticals, Akorn, Inc., Abbott Laboratories, Thea Pharmaceuticals Limited, OASIS Medical, Altaire Pharmaceuticals Inc., Boiron USA, Similasan Corporation, Scope Ophthalmics Ltd., Reckitt Benckiser Group PLC., Medicom Healthcare Ltd., FDC Limited, Lupin Limited, Jamjoom Pharmaceuticals Co., and Sentiss Pharma Private limited.
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Key highlights of the report include:
- North America and Western Europe will collectively dominate the market throughout the forecast period, however, the individual revenue share will incur a marginal decline towards the latter half of the forecast period
- Due to rising pollution levels and proximity of industrial contamination, the demand for dry eye syndrome treatment will surge significantly in Asia-Pacific excluding Japan region, reflecting fastest value growth at a CAGR of 7.4%
- In 2017 and beyond, cyclosporine will be observed as top-selling product on dry eye syndrome treatment, global sales of which will account for a vigorous revenue growth at 6.9% CAGR
More than 60% of global dry eye syndrome treatment market will be dominated by sales through retail pharmacies, making them the largest distribution channel in the market.