Pune, Sept. 15, 2020 (GLOBE NEWSWIRE) — The global dry eye syndrome market size is projected to reach USD 7.73 billion by the end of 2026. The high prevalence of dry eye syndrome has created several opportunities for the companies operating in the market. According to a published report, titled “Dry Eye Syndrome Market Size, Share and Global Trend By Product (Anti-inflammatory and, Artificial Tears and Lubricants), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Geography Forecast till 2026,” the market was worth USD 4.22 billion and will exhibit a CAGR of 6.9% during the forecast period, 2019-2026.
Dry eye syndrome is a critical disorder that possesses severe symptoms. The emphasis on the treatment of the disease, mainly due to its severity and potential to affect vision has created several growth opportunities for the companies operating in the market. The increasing investment in the R&D of treatment options associated with this disease will have a positive impact on the growth of the market in the coming years.
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Recent advancements in clinical trials associated with the disease, coupled with the increasing number of research and development activities will bode well for the market in the coming years. The presence of several reimbursement policies will emerge in favour of market growth.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
An Overview of the Impact of COVID-19 on this Market:
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Advancements in Clinical Trials Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the advancements in clinical trial for the rugs associated with dry eye syndrome will bode well for the companies operating in the market. Several large scale companies have made progress in ongoing clinical trials.
In April 2019, a clinical trial for ‘A Study to Assess the Safety and Effectiveness of SJP-0035 for treatment of patients with dry eye syndrome has made progress and sponsored by the Senju Pharmaceutical Co., Ltd. is currently in phase-3 of clinical trials. Such advancements in drug trials will have a direct impact on the growth of the market in the coming years.
North America to Emerge Leading; Presence of Several Large Scale Companies Will Aid Growth
The report analyzes the ongoing diabetic dry eye treatment market trends across fiver major regions, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among all regions, the market in North America currently holds the largest market share. As of 2018, the market in North America was worth USD 2.42 billion and this value is likely to increase further in the coming years. The presence of several large scale companies in this region has contributed to the growth of the market in recent years.
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List of the leading companies that are operating in the global dry eye syndrome market are:
- Novartis AG
- Santen Pharmaceutical Co., Ltd.
- OASIS Medical
- Sun Pharmaceutical Industries Ltd
- Otsuka Pharmaceutical Co., Ltd.
- Sentiss Pharma Pvt. Ltd.
- Johnson & Johnson Vision Care, Inc.
- July 2019 – Novartis announces acquisition of ‘Xiidra’
Xiidra is the first and only prescription treatment to address signs and symptoms of dry eye by controlling the inflammation caused by the disease.
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Dry Eye Syndrome Market Segmentations:
By Product Type
• Artificial Tears and Lubricants
By Distribution Channels
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• North America (the U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and the Rest of Latin America)
• Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
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