Mar 27, 2023

The global dry eye medication market will grow from $8.67 billion in 2022 to $9.62 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The dry eye medication market is expected to grow to $13.99 billion in 2027 at a CAGR of 9.8%. The dry eye medication market consists of sales of polyethylene glycol, polyvinyl alcohol, propylene glycol, carboxymethylcellulose, povidone, glycerine, and mineral oil. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Dry eye medication refers to the drugs or medication that is used to treat dry eye by increasing your eye moisture. A multifactorial condition of the tears and ocular surface known as dry eye causes symptoms such as pain, blurred vision, and tear film instability, as well as the possibility of ocular surface injury. North America is the largest region in the dry eye medication market in 2022. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the dry eye medication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of dry eye medication are aqueous dry eye syndrome and evaporative dry eye syndrome. Dry eye syndrome is a frequent problem that arises when the tears aren't able to keep the eyes lubricated enough. Tears may be insufficient and unstable for a variety of causes. The different types of products include liquid drops, gel, liquid wipes, and eye ointment and are used by hospital pharmacies, eye health clinics, retail pharmacies, and online pharmacies. The increased number of cases of dry eye disease results in an increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one's eyes to screens for a long duration increase the occurrence of the dry eye more likely. For example, a survey conducted by the American Academy of Ophthalmology reported that in the USA, nearly 3.2 million women and 1.68 million men, over the age of 50 were affected by dry eye syndrome. Similarly, a study conducted by the Indian Journal of Ophthalmology indicated a 32% prevalence of dry eye disease in the Northern part of India. the rising prevalence of the disease would increase the demand for its treatment and ultimately facilitate the growth of this market. The market for dry eye medication is restricted by the long approval process that is undertaken before any drug is approved by the concerned authority. The standard protocol for testing any new drug demands a series of tests and trials including laboratory tests, animal model tests, and clinical trials. Most drugs fail during clinical trials and only a small percent of them successfully move forward. Treatment for dry eye disease improved with the incorporation of modern techniques that helped invent advanced hyaluronic acid-based lubricants and lipid emulsions. This technology replaces artificial tears that include isotonic sodium chloride and provides long-lasting lubrication on the surface of the eye. For instance, Allergan, a global pharmaceutical company, launched Refresh Repair Lubricant Eye Drops which are designed to repair and protect the eyes from dry eye disease and improve the clarity of vision and are formulated with carboxymethylcellulose (CMC), hyaluronic acid, and osmoprotectants. These components maintain the health of the ocular surface and safeguard epithelial cells. Advances in technology will have a positive effect on the market. The dry eye medication market is strictly regulated by government agencies such as USFDA (Food and Drug Administration), the European Medicines Agency (EMA), and others. For instance, in the USA, FDA evaluates and approves the drugs meant for dry eye treatment. According to Section 201(g) of the FDA and CFR (Code of federal regulations) act, the licenses are granted to drug manufacturing companies allowing them to sell only those drugs that are safe and clinically effective. FDA demands several tests and several clinical trial rounds before granting such approvals. For example, FDA approved Kala Pharmaceuticals' eye-related drug called INVELTYS. The countries covered in the dry eye medication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. Key Attributes 3. Dry Eye Medication Market Trends And Strategies 4. Dry Eye Medication Market - Macro Economic Scenario 4.1 COVID-19 Impact On Dry Eye Medication Market 4.2 Ukraine-Russia War Impact On Dry Eye Medication Market 4.3 Impact Of High Inflation On Dry Eye Medication Market 5. Dry Eye Medication Market Size And Growth 5.1. Global Dry Eye Medication Historic Market, 2017-2022, $ Billion 5.1.1. Drivers Of The Market 5.1.2. Restraints On The Market 5.2. Global Dry Eye Medication Forecast Market, 2022-2027F, 2032F, $ Billion 5.2.1. Drivers Of The Market 5.2.2. Restraints On the Market 6. Dry Eye Medication Market Segmentation 6.1. Global Dry Eye Medication Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion Aqueous dry eye syndrome Evaporative dry eye syndrome