The global dry eye syndrome treatment market is estimated to be valued at nearly US$ 3,560 Mn by 2017 end, and is projected to reach about US$ 6,610 Mn by the end of 2027, registering a CAGR of 6.4% over the forecast period.
Development of newer delivery systems aiding market growth in the North America region
Candorvision launched the CALMO Eye Spray, which was the first preservative free eye spray to be launched in Canada. Eye spray improves the humidification of the eyelids and eyes and acts as a substitute for people who avoid eye drops. With its German liposome technology, CALMO Eye Spray repairs and stabilises the lipid layer of the tear film and thus effectively addresses one of the root causes of dry eye syndrome. Leading market players are trying to develop dry eye care products in different delivery systems so as to ensure better patient compliance and utilisation along with company profitability.
LASIK surgery becoming mainstream
More and more supplement manufacturers are creating products targeted specifically at dry eye. One reason for this is because LASIK surgery is becoming more mainstream, and almost everybody who has LASIK will also suffer from dry eye syndrome in the first six months after their treatment. At the same time however, not all the supplements that exist have proven benefits, and they certainly aren’t all created equally. It is also very important to understand that certain supplements counteract other types of medication. Hence, self-medication on supplements without first seeking medical advice is not recommended.
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No price control stifling the market growth of dry eye syndrome treatment in United States
Most of the other countries have some form of price controls; the government negotiates with drug companies and device makers for lower prices, and the government has the power to win those negotiations. The United States doesn’t do that. It leaves the negotiations up to individual insurers. Defenders of the American system argue that price controls stifle innovation. Many say that higher spending creates financial incentives for drug companies to come up with wonderful new drugs. But that means the U.S. population is paying higher prices to subsidise drugs for the rest of the world.
Global Dry Eye Syndrome Treatment Market Forecast, By Region
By the end of 2027, the dry eye syndrome treatment market in North America is anticipated to reach a market valuation in excess of US$ 2,500 Mn, exhibiting a CAGR of 6.7% over the forecast period. The North America dry eye syndrome treatment market is expected to represent an absolute $ opportunity of US$ 88.6 Mn in 2018 over 2017, also creating an incremental opportunity of US$ 1,207.4 Mn between 2017 and 2027.
By the end of 2027, the dry eye syndrome treatment market in APEJ is anticipated to reach US$ 878.7 Mn, registering a CAGR of 7.4% over the forecast period. The APEJ dry eye syndrome treatment market is expected to represent an absolute $ opportunity of US$ 29.7 Mn in 2018 over 2017, also creating an incremental opportunity of US$ 446.4 Mn between 2017 and 2027.
“Preference for preservative free single dose formulation presents a lucrative market opportunity
Eye drops containing preservatives often have chances of causing some eye allergies and prolonged use may hamper the sight of an individual. The trend of using single dose preservative free eye drops has now created new opportunities especially in developed regions of the world. Such eye drops are considered as safe for prolonged usage as they are preservative free. Allergan recently launched their OPTIVE REFRESH product, which is single use preservative free lubricating eye drops. Biocia Inc. commercialised their viscoadaptive eye drop innovations in a preservative free delivery system. Viscoadaptive eye drops are lubricant eye drop solutions that exhibit both cohesive and dispersive behaviours depending on the shear energy in the solution.” — Analyst – Healthcare, Pharmaceuticals and Medical Devices, Future Market Insights
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