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Clinical Trials Elate Dry Eye Syndrome Market – Straits Research

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New York, United States, Sept. 20, 2021 (GLOBE NEWSWIRE) — The dry eye syndrome market is expected to grow at a compound annual growth rate (CAGR) of 6.4% in the forecast period from 2020 to 2029.

The global dry eye syndrome market is expected to reach USD 6.93 billion by 2029.

Dry eye is an ophthalmic disorder caused by a lack of tear fluid or lubrication in the eyes. Based on the National Health and Wellness Survey, an estimated 4.88 million U.S. population aged 50 years and older have been diagnosed with dry eyes. Among these, about 3 million are women, and over 1.68 million are men. In addition, the rise in the geriatric population is a primary contributor to market growth. Older adults are more prone to dry eye conditions due to the decreased ability of their lachrymal glands to produce tears.

COVID-19: Postponed Eye Care and Post-COVID Outlook

The market witnessed a significant decline due to decreased sales of dry eye treatment drugs. Additionally, the pandemic has dramatically affected the healthcare services for people suffering from dry eye conditions. It includes suspension of all elective and non-urgent procedures and limitations on person-to-person contact. Moreover, many pharmaceutical companies experienced challenges in resuming their manufacturing capacity, and industry participants are enduring the effects of shortages in distribution and supply networks.

For instance, Novartis AG’s dry eye product Xiidra faced a revenue decline of -31.4% in the second quarter of 2020 compared to its sales of 2019. However, online sales of dry eye lubricants offered a slight relief to many manufacturers and patients during the lockdown. Further, post-pandemic lifestyle changes such as higher screen time and face mask-related dry eyes could spike the growth rate by 3–4% in upcoming years.

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Dry Eye Syndrome Market by Type

Evaporative Dry Eye Syndrome Spurs the Market for Eye Drugs

With an increase in the prevalence of evaporative eye conditions, the demand for dry eye syndrome drugs is susceptible to exceed. Evaporative dry eye (EDE) is the most common form of dry eye syndrome, occurring in over 85% of dry eye conditions. It is characterized by a lack of tear film lipid layer, which increases tear evaporation. As per a survey from the ARVO journal, evaporative dry eye is more prevalent than aqueous dry eye syndrome.

Dry Eye Syndrome Market by Product

Anti-Inflammatory Therapy Improves Signs of Dry Eye

The anti-inflammatory segment accounts for the largest revenue share and is expected to remain dominant over the forecast period. It is because many essential products belong to this category, including cyclosporine, lifitegrast, and corticosteroids, among others. Recently, an integrin lymphocyte function-associated antigen-1 (LFA-1) antagonist, a lifitegrast ophthalmic solution named Xiidra, was approved for dry eye treatment in the U.S. Several research studies have reported corticosteroids therapy can improve signs of dry eye by normalizing ocular surface mucous production. All the above factors contribute to the growth of this segment.

Dry Eye Syndrome Market by Distribution Channel

Easy Access Fosters Lucrative Opportunities for Online Pharmacies

In terms of the distribution channel, online pharmacies registered the highest growth in the global market in 2020. It is attributed to the high internet penetration, availability of numerous drugs, and large patient pool. Covid-19 pandemic-related movement constraints have had a positive impact on online sales.

Dry Eye Syndrome Market by Regions

North American Dominion over the Dry Eye Syndrome Market

North America held a commanding position in revenue and is anticipated to remain dominant over the forecast period. Essentially, it is due to a spike in factors causing dry eyes, dry eye products, dry eye drugs, including overuse of contact lenses, high screentime, diabetes, lupus, glaucoma, Sjogren’s syndrome, and thyroid disorders, among others. For instance, Americans spend an average of over 10 hours a day on visual display terminals. Availability of better treatment option, growing patient pool, and presence of major market players in this region is expected to fuel the growth for the North American market.

Asia-Pacific Strives to Grow

On the other hand, the Asia-Pacific dry eye syndrome drugs industry will experience promising growth over the forecast period. One of the key contributors is a rise in the geriatric population. China has the world’s largest population of older adults. There will be approximately 366 million older adults by 2050 in China, which is significantly larger than the current total U.S. population of 331 million, as per The United Nations Project, January 2020. As the prevalence of dry eyes is more among older adults, the Asia-Pacific market is expected to exhibit sturdy growth in the coming years.

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Detailed Table of Content

1              Introduction

1.1          Market Definition

1.2          Market Scope

2              Research Methodology

2.1          Primary Research

2.2          Research Methodology

2.3          Assumptions and Exclusions

2.4          Secondary Data Sources

3              Executive Summary

4              Market Overview

4.1          Report Segmentation and Scope

4.2          Value Chain Analysis: Dry Eye Syndrome Market

4.2.1      Vendor Matrix

4.3          Key Market Trends

4.3.1      Drivers

4.3.2      Restraints

4.3.3      Opportunities

4.3.4      Challenges         

4.4          Porter’s Five Forces Analysis

4.4.1      Bargaining Power of Suppliers

4.4.2      Bargaining Power of Buyers

4.4.3      Threat of Substitution

4.4.4      Threat of New Entrants

4.4.5      Competitive Rivalry

4.5          Covid-19 Impact Analysis             

4.5.1      Pre-Covid-19 Market Scenario Analysis  

4.5.2      Post-Covid-19 Market Scenario Analysis

4.5.3      Measures Taken by Top Players

5              Global Dry Eye Syndrome Market by Type

5.1          Evaporative Dry Eye Syndrome

5.1.1      Market Size and Forecast (Value)

5.2          Aqueous Dry Eye Syndrome

5.2.1      Market Size and Forecast (Value)

6              Global Dry Eye Syndrome Market by Product

6.1          Anti-inflammatory

6.1.1      Market Size and Forecast (Value)

6.1.2      Cyclosporine

6.1.2.1   Market Size and Forecast (Value)

6.1.3      Lifitegrast

6.1.3.1   Market Size and Forecast (Value)

6.1.4      Corticosteroids

6.1.4.1   Market Size and Forecast (Value)

6.1.5      Others

6.1. 5.1 Market Size and Forecast (Value)

6.2          Artificial Tears

6.2.1      Market Size and Forecast (Value)

6.3          Lubricants

6.3.1      Market Size and Forecast (Value)

7              Global Dry eye syndrome Market by Distribution Channel

7.1          Hospital Pharmacies

7.1.1      Market Size and Forecast (Value)

7.2          Retail Pharmacies

7.2.1      Market Size and Forecast (Value)

7.3          Online Pharmacies

7.3.1      Market Size and Forecast (Value)

8              Regional Overview

8.1          Introduction

8.1.1      Market Size and Forecast (Value)

8.2          North America

8.2.1      Economic Overview

8.2.2      Market Scenario

8.2.3      The U.S.

8.2.4      Canada

8.3          Europe

8. 3.1     Economic Overview

8. 3.2     Market Scenario

8. 3.3     Germany

8. 3.4     The U.K.

8. 3.5     France

8. 3.6     Italy

8. 3.7     Spain

8. 3.8     The Rest of Europe

8.4          Asia-Pacific

8.4.1      Economic Overview

8.4.2      Market Scenario

8.4.3      China

8.4.4      Japan

8.4.5      India

8.4.6      Australia

8.4.7      South Korea

8.4.8      The Rest of Asia-Pacific

8. 5         The Middle East and Africa

8. 5.1Economic Overview

8. 5.2Market Scenario

8. 5.3     The Middle East

8. 5.4     Africa

9              Competitive Landscape — Manufacturers and Suppliers

9.1          Competition Dashboard

9.2          Market Share Analysis, 2020

9.3          Competition Dashboard

9.4          Key Developments

10           Company Profile

10.1        Allergan

10.2        Shire

10.3        Novartis AG

10.4        Santen Pharma

10.5        Oasis Medical

10.6        Sun Pharma Industries

                Others

11           Conclusion and Recommendation

12           Acronyms and Abbreviations

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Have a Look at Related Research Report

Artificial Tears Market: Information by Type (Cellulose Derived Tears, Glycerin Derived Tears), Delivery Method (Eye Drops, Ointments), and Applications (Dry Eyes Treatment) —Forecast Till 2026

Eye Health Supplements Market: Information by Supplement Category (Antioxidants), Therapeutic Domain (Age-Related Macular Degeneration), Product Type, and Region — Forecast till 2029

Wearable Camera Market: Information by Type (Head Mount, Body Mount, Ear Mount and Smart Glass), Application (Healthcare, Industrial, Sports, and Adventure), and Region — Forecast Till 2026

Eyewear Market: Information By Type (Spectacles, Sunglasses, Contact Lenses), End-User (Men, Women, Unisex), Channel(Online, Offline), and Region — Forecast Till 2026

Enterprise Wearable Market: Information by Technology (IoT, Bluetooth, BLE), Product (Wristwear, Footwear, Eyewear), Application (Infotainment, IT), and Regional Outlook – Forecast Till 2026

About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

So let us put our minds together. We will make your vision a reality and help you grow.


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HKPC and HP Launch Joint Technology Centre in Hong Kong on Advanced 3D Printing

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HONG KONG, May 7, 2024 /PRNewswire/ — Hong Kong Productivity Council (HKPC) and HP signed a collaboration agreement (agreement) today to establish the HKPC-HP 3D Printing Technology Centre (Centre) in Hong Kong for application research development on additive manufacturing, also known as 3D printing. The Centre aims to become a pilot transformation base, applying advanced 3D printing technologies to empower various industries, sharpen their competitive edge, and foster the development of high-value strategic industrial chains. It will also accelerate Hong Kong’s pioneering effort in micro-factory and new industrialisation development, offering important references and inspiration worldwide in the pursuit of innovative and sustainable development.

The Centre will be located in the HKPC Building, being the first in Asia to be equipped with both HP’s research version of “Metal Jet” and “Multi Jet Fusion” industrial 3D printers. HP will bring advanced equipment and talent to support the operations of the Centre, and HKPC will contribute expertise in raw material development, process development, and smartification. Market research data estimate that the value of the 3D printing industry will reach US$186.4 billion by 2033, a significant increase from US$27.7 billion in 2023, indicating the immense market potential.
Clean, digitally powered 3D printing generates minimal waste and a minimal carbon footprint. This aligns with global goals of achieving green and sustainable development, while also promoting long-term economic growth through sustainable industries. At the same time, advanced 3D printing provides significant opportunities in strategic industries, such as healthtech, critical components, electronics, and more. In the future, the Centre, with its focus on customisation and precision, can be a game-changer in meeting the demand for hard-to-source parts, complex structures, patient-specific implants, and other tools. This will enable enterprises, especially small and medium enterprises (SMEs), to leverage advanced 3D printing technology and produce high-value, customised goods that can respond to market-specific demands in real-time, offering new levels of flexibility and efficiency that conventional factories are unable to meet.
In the ceremony, Professor Dong SUN, JP, Secretary for Innovation, Technology and Industry, HKSAR Government, said, “3D printing enables the development of more micro-factories in Hong Kong.  Compared to the traditional one, micro-factories require less land and materials, generate higher efficiency but less waste. This best suits Hong Kong’s condition, where land resources are limited and labour costs are relatively high. The establishment of this 3D printing technology centre is undoubtedly a good answer to show how we make use of state-of-the-art technology to promote advanced manufacturing and new industrialisation in Hong Kong. I am confident that Hong Kong’s manufacturing industry will reach new heights, and ‘Made in Hong Kong’ will continue to be a reputable and brilliant international brand. I look forward to more representative technology companies from all around the globe, such as HP to team up with our I&T quangoes, such as HKPC, bringing talents, technologies and machinery to Hong Kong to redefine Hong Kong’s manufacturing industry and drive high-quality economic growth.”  
Hon Sunny TAN, Chairman of HKPC, said, “We’re very pleased to form this research collaboration with HP, underscoring the confidence that global technology firms have in Hong Kong’s strengths in innovation. As an international innovation and technology centre, Hong Kong can be a paragon of the micro-factory city of the future that provides Hong Kong’s answer to develop new productive forces and set a fine example in Asia and across the globe to pursue innovation-driven, sustainable development. Hong Kong’s unique conditions make it particularly suitable for the development of micro-factories. The vibrant ecosystem in Hong Kong, combined with the robust supply chains in the Guangdong-Hong Kong-Macao Greater Bay Area, will provide an excellent pilot transformation base for the development of micro-factories, with significant implications for economies in Asia and worldwide.”
Mr Ramon PASTOR, Global Head of 3D Metals at HP Personalisation & 3D Printing, said, “It’s truly exciting to witness the launch of this collaborative effort between HKPC and HP, which aligns perfectly with our vision of leveraging Additive Manufacturing to drive industrialisation. This initiative not only showcases our dedication to technological advancement but also our shared vision for propelling industry innovation forward. HP believes in the immense potential of Hong Kong’s technology sector. We are also glad to bring in Pro-Technic Machinery Ltd. (Pro-Technic) to provide local support for our collaboration with HKPC.”
The Centre is planned to open in September, serving as a networking hub to promote closer collaboration among academia, research institutions and industries, empowering diverse sectors to grasp market trends. In addition to application development, the Centre will also provide consultancy and training services, driving advancements and propelling the 3D printing industry, as well as other industries utilising 3D printing technologies, forward.
About Hong Kong Productivity Council 
The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through relentless drive of world-class advanced technologies and innovative service offerings to support Hong Kong enterprises. Being a key enabler of Industry 4.0 and Enterprise 4.0, HKPC strives to facilitate new industrialisation in Hong Kong, as well as bolstering Hong Kong to be an international innovation and technology centre and a smart city. The Council offers comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhance competitiveness in both local and overseas marketplace. The Council partners and collaborates with local industries and enterprises and world-class R&D institutes to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation, technology transfer, and commercialisation, bringing enormous business opportunities ahead. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades.   
In addition, HKPC offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, and strengthens talent nurturing and Hong Kong’s competitiveness with FutureSkills training for enterprises and academia to enhance digital capabilities and TechEd competencies.
For more information, please visit HKPC’s website: www.hkpc.org/en.  
About HP
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.
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ShipFlex from Locus Expands Global Carrier Network to Over 160 Carriers, Enhancing Multi-Carrier Parcel Management Capabilities

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SAN FRANCISCO, May 7, 2024 /PRNewswire/ — Locus.sh, a global AI-powered integrated logistics management SaaS company, announced its global carrier network for ShipFlex (its innovative multi-carrier parcel management solution) now has over 160 carriers. This significant expansion reflects ShipFlex’s continued commitment to redefining flexibility and efficiency in logistics for shippers globally.

“By efficiently broadening our carrier network globally, ShipFlex stands out as a marketing-leading offering that has the agility to cater to shippers’ fulfillment needs across diverse geographies, industries, fulfillment models, and fleet types, among other variables crucial to shippers,” said Nishith Rastogi, Founder and CEO of Locus.
For retail, manufacturing, and consumer packaged goods (CPG) companies that outsource their deliveries, ShipFlex stands out as a powerful ally as it optimizes fulfilmment operations across captive, contracted, outsourced and even hybrid fleets. “These sectors prize end-to-end optimization of operations and costs to deliver exemplary customer experiences. By automating decision-making around selecting third-party delivery providers, ShipFlex empowers shippers to meet both current and future demands efficiently across diverse fleet types used by these industries,” added Rastogi.
ShipFlex automates multi-carrier deliveries tailored to specific business constraints regarding cost, speed, and efficiency. The platform simplifies the logistics of sourcing additional capacity and assigning shipments, all from a single dashboard.
The solution enhances dispatch flexibility with its capacity to integrate various carriers easily. It provides end-to-end visibility of the order journey, including real-time status updates and customer notifications, ensuring a top-notch post-purchase experience and minimizing delivery re-attempts.
About Locus
Locus’ order-to-delivery AI-powered dispatch and transport management software helps enterprises transform their logistics from cost centers to revenue generators through advanced optimization algorithms and intuitive workflow automation. Backed by GIC Singapore, Tiger Global, and Qualcomm Ventures, it has helped 200+ global customers across industries – Unilever, Nestle, BlueDart-DHL, etc. – execute over 1 billion deliveries across USA, Southeast Asia, the Middle East, and the Indian subcontinent.
www.locus.sh 
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Metacon and Siemens enter into collaboration for the manufacture of systems for green hydrogen production

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STOCKHOLM, May 7, 2024 /PRNewswire/ — Metacon AB (publ) and Siemens AB have signed a Memorandum of Understanding to enter into a partnership with the aim of accelerating the manufacturing of hydrogen production systems in Sweden, for the European market.

At the beginning of the year, Metacon announced that the company has been granted exclusive rights for the manufacture of complete electrolysis plants based on the partner PERIC’s world-leading technology for pressurized alkaline electrolysis modules (stacks). One of the key components of PERIC’s alkaline technology is efficient and proven 5 MW modules with over 10 years of operating data. Metacon also has access to the 10 MW module that PERIC recently launched and which today, in terms of power and production, is one of the world’s largest. The rights apply to most European countries and mean that Metacon can start from a proven technology that has been developed and refined for over 60 years, and make the adaptations required to match the requirements for safety and automation found in European standards for hydrogen production. With the exclusive right, Metacon now aims to become one of the market leaders in Europe for this type of large-scale hydrogen plants.
The joint MoU means that Siemens will become a technology partner to Metacon to contribute with its solid experience in delivering products, solutions and services in automation, power distribution, electrification, instrumentation, building technology and drives. Siemens will also be able to contribute with its wide range of digital services and software for optimisation, standardisation and simulation during both the manufacturing and operational phases of hydrogen plants.
“Hydrogen is an important piece of the puzzle in the industrial, energy and transport sectors to become CO2 neutral, and is the focus of Siemens’ global investment in Power-to-X. The partnership with Metacon marks a milestone in our quest to create a more sustainable world by, among other things, developing innovative solutions for the energy sector,” says Mikael Kraft, Head of Factory Automation and Sales at Siemens Digital Industries.
“Metacon has big plans for the investment in the manufacture and sale of large-scale electrolysis plants to, among others, the basic industry, the wind power sector and the transport sector in Europe. I have a hard time imagining a better partner on such a journey than Siemens. With its world-leading portfolio of technology, expertise and long-standing experience of similar projects, this partnership gives us the opportunity to both accelerate and optimize central parts of our unique Gigafactory project,” says Christer Wikner, CEO and President, Metacon.
For further information, please contact Christer Wikner, by phone 0707-647389 or e-mail [email protected]
About Metacon
Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free “green” hydrogen. The products in the Reforming business area are based, among other things, on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other hydrocarbons. The development of Metacon’s reforming products is done within the wholly owned subsidiary Metacon S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production.
Metacon also offers complete electrolysis plants and integrated refueling stations for green hydrogen, a large and globally growing area for the production of green hydrogen. Electrolysis is a process of driving a chemical reaction to split water by adding electricity. If the electricity used is non-fossil, the hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in sectors such as transport, basic industry and the real estate sector, with a better environment and climate as a result. www.metacon.com
About Siemens
Siemens AG (Berlin and Munich) is a technology company with a focus on industry, infrastructure, transport and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more convenient transportation and advanced healthcare, the company is developing technologies to create real value for customers and users. By combining the real and digital worlds, Siemens empowers its customers to transform their businesses and markets, helping them transform the lives of billions of people. Siemens owns a majority stake in the listed company Siemens Healthineers, a global leading medical device provider that is shaping the future of healthcare.
In the 2023 financial year ended September 30, 2023, the Siemens Group generated revenues of €77.8 billion and net profit of €8.5 billion. As of September 30, 2023, the company had approximately 320,000 employees worldwide. During the same period, Siemens in Sweden generated revenues of SEK 6.9 billion and employed approximately 1,500 people. For more information, see www.siemens.com and www.siemens.se. 
For more information see:www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab
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