Dry Eye Syndrome Treatment Market Size, Share & Trends Analysis Report By Type (Evaporative, Aqueous Deficient), By Drug, By Product, By Dosage Form, By Sales Channel, By Distribution Channel- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Dry Eye Syndrome Treatment market size was estimated at USD 5.18 billion in 2021 and is expected to surpass around USD 8.13 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period 2022 to 2030.

Key Takeaways:

• By Type, the U.S. Dry Eye Syndrome Treatment market was valued at USD 2.0 Billion in 2021 and expected to witness growth at a CAGR of 4.85% from 2022 to 2030.
• By type, evaporative dry eye syndrome held the largest share in 2021 owing to the increasing prevalence of the condition and heightened screen time
• Based on dosage form, eye drops held the largest revenue share in 2021 owing to easy availability as well as increased preference for eye drop administration of the product
• By drug, Restasis held the largest market share in 2021 owing to its high adoption as a prescription drug for dry eye treatment
• Based on distribution channel, online pharmacies are expected to grow at the fastest rate over the forecast period due to the increased consumer preference for online pharmacies owing to the convenience
• North America dominated the market in 2021 due to the high prevalence of the disease, surging awareness, and enhanced treatment rate

The growth of the market is attributed to factors such as the increasing use of screens, the rising geriatric population, and a heightened prevalence of eye diseases.

The heightened use of devices with a screen, surging use of computers, and a decreased number of blinks are subsequently leading to the growth of evaporative dry eye syndrome globally. For instance, as per Frontiers Journal in 2021, when compared to pre-pandemic years, the use of screens has increased by 60–80% in adults during the COVID-19 pandemic. The exposure to the screen leads to a 66% decreased blinking rate, thus escalating the evaporation of tears and leading to dry eye disease.

Over-the-counter (OTC) products predominate the marketplace due to the extremely low acceptance of prescription products. For instance, only 10% of the diagnosed population is on prescription therapies, while 75% of the population has never tried prescription therapy. However, the number of patients diagnosed with dry eye syndrome accounts for 5-35% of overall ophthalmologist visits.

Moreover, existing products such as Xiidra and Restasis take months or weeks to demonstrate effects. In addition, as per eye consultants, these products have tolerability issues and a failure rate of as high as 50%. This depicts an unmet need in the market and is anticipated to create a lucrative opportunity for pipeline products expected to launch in the upcoming years. Moreover, regulations associated with the drugs further hamper the growth of the overall market. For instance, in 2020, Novartis had to voluntarily withdraw the use of Xiidra in Europe after regulators raised major objections to its use of xiidra.

Innovations and strategic initiatives by key players are driving the market. New product launch is a common strategy being used by the players. For instance, in October 2021, Tyrvaya (varenicline solution) nasal spray by Oyster Point Pharma was approved by the FDA as an alternative treatment approach.

Report Scope of the Dry Eye Syndrome Treatment Market

Type Insights

Evaporative dry eye syndrome dominated the market in 2021 with a revenue share of over 81.0% owing to the high prevalence of the disease, which can be associated with factors such as an increase in screen time, reduced rate of blinking, and reduced tear formation due to age. The easy availability of products such as EvoTears targeted at the evaporative type of the disease makes access to treatment easier.

Aqueous dry eye syndrome occurs due to the inability of the lacrimal glands to produce tears. The chronic inflammation along with the thickened tear ducts can result in the accumulation of tears within the lacrimal gland, thus causing aqueous tear deficiency and dry eye. Treatment for aqueous dry eye syndrome includes artificial tears and medicines such as cyclosporine and punctal plugs. 

Drug Insights

The Restasis drug segment accounted for the largest revenue share of over 26.0% in 2021 owing to its use in chronic dry eye symptoms. The drug is marketed by Allergan and is highly adopted across the population pertaining to very less side effects associated with the drug. Although the drug requires 3 to 6 months to start working on the condition, it is highly being used as a prescription drug with remarkable treatment results. The segment is expected to register a slow growth rate during the forecast period owing to the approval of generic Restasis from Mylan Pharmaceuticals Inc. by the FDA in February 2022.

Xiidra drug is anticipated to grow at a lucrative rate during the forecast period. The drug was approved by the U.S. FDA for the treatment of signs and symptoms of dry eye disease. The growth of xiidra is due to the high adoption of the drug. Moreover, it is the first medication in a new class of drugs, called lymphocyte function-associated antigen 1 antagonist for the treatment of the dry eye. Moreover, the drug is a leading product for dry eye commercially marketed by Novartis and approved in major regions across the world.

Product Insights

The cyclosporine segment accounted for the largest revenue share of over 61.0% in 2021 owing to the long-standing use of medications using cyclosporine as a basis. Its effectiveness for dry eye disease symptoms and clinical indicators has been demonstrated through research. As an inflammatory reaction that plays a part in illness, cyclosporine has been found to inhibit T-cell proliferation. FDA-approved medications for treating the symptoms of dry eye include Restasis and Cequa.

Topical corticosteroids are anticipated to grow at the fastest rate over the forecast period. The growth of the market is attributed to the quick action of corticosteroid drugs than immunomodulatory-based drugs. The U.S. FDA-approved Eysuvis launched in Jan 2021 is used for treating both signs and symptoms of dry eye disease. 

Dosage Form Insights

The eye drops segment accounted for the largest revenue share of over 36.0% in 2021 owing to the ease of usage and administration, which leads to increased patient compliance with the treatment. However, this is a topical mode of administration, which makes the action of the product less sustained and the elimination of the product easy. The launch of products in this segment is common and the movement of players is high. For instance, in April 2021, Alcon announced the launch of its Systane eye drops with hydroboost technology for providing long-lasting relief to patients that apply eye drops over 4 times a day. 

Eye solutions are anticipated to grow at the fastest rate owing to the presence of products such as Xiidra and Restasis. However, products such as ointments and gels are preferred for usage at night owing to their long-lasting effects, thereby making this segment lucrative for the key players. For instance, in December 2021, NTC Srl and I-MED announced a partnership for making 0.4% sodium hyaluronate ointment available in the U.S. market.

Sales Channel Insights

The OTC segment accounted for the largest revenue share of over 61.0% in 2021 owing to the ease of usage and purchase. The advent of the pandemic and an increasing number of people moving toward self-medication have compelled people to buy drugs over the counter. The availability of various eye drops that are easy to use is leading to the growth of the segment. 

Prescription drugs are anticipated to grow at a lucrative rate over the forecast period. The growth of the market is attributed to the increasing prevalence of dry eye among the population. For instance, according to the American Academy of Ophthalmology, over the age of 50 years, 1.68 million men and 3.2 million women experience dry eye. However, out of a total number of patients diagnosed with dry eye syndrome, only 10% of the population is on prescription therapies, while 75% of the population has never tried prescription therapy. 

Distribution Channel Insights

The retail pharmacies segment accounted for the largest revenue share of over 46.0% in 2021. This is attributed to the ease of access to retail pharmacies. Moreover, the presence of pharmacists to assist with dosages, customer services, and provision of consultations in some regions help the segment gain a competitive edge in the market.

The online pharmacies segment is projected to grow at the fastest rate over the forecast period due to a surge in the number of people buying products due to convenience. Furthermore, the pandemic has increased the adoption of online pharmacies due to restrictions on the movement of people. Moreover, the availability of better pricing in these online stores facilitates repeat purchases.

Regional Insights

North America accounted for the largest revenue share of over 36.0% in 2021. The presence of a wide target population, better access to healthcare, and a high rate of treatment adoption are anticipated to drive the market in this region. Moreover, the lucrative nature of the market attracts players in this region. For instance, in October 2019, Cequa was launched by Sun Pharmaceutical Industries Ltd. in the region. 

Asia Pacific is estimated to be the fastest-growing segment over the forecast period due to improvements in overall healthcare infrastructure, rising prevalence of dry eye disease, and improved access to healthcare. In addition, the presence of key players in this region such as Otsuka Pharmaceuticals Co. Ltd. and Santen Pharmaceuticals is expected to drive the overall market.

Some of the prominent players in the Dry Eye Syndrome Treatment Market include:

• Novartis AG
• AbbVie, Inc.
• Sun Pharmaceutical Industries Ltd.
• Santen Pharmaceutical Co., Ltd.
• AFT Pharmaceuticals
• Johnson & Johnson Services, Inc.
• Otsuka Pharmaceutical Co., Ltd.
• OASIS Medical
• Oyster Point Pharma, Inc.
• Bausch & Lomb

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Dry Eye Syndrome Treatment market

• Type
• Evaporative Dry Eye Syndrome
• Aqueous Deficient Dry Eye Syndrome 
• Drug
• Restasis
• Xiidra
• Cequa
• Eysuvis
• Tyrvaya
• Others
• Product
• Cyclosporine
• Topical Corticosteroids
• Artificial Tears
• Punctal Plugs

• Removable
• Dissolvable
• Oral Omega Supplements
• Others
• Dosage Form
• Gels 
• Eye Solutions 
• Capsules & Tablets
• Eye Drops 
• Ointments 
• Sales Channel
• Prescription
• OTC
• Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Dry Eye Syndrome Treatment industry analysis from 2022 to 2030 to identify the prevailing Dry Eye Syndrome Treatment industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Dry Eye Syndrome Treatment industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Dry Eye Syndrome Treatment industry trends, key players, market segments, application areas, and market growth strategies.