Global Dry
Eye Syndrome Treatment Market, by Product Type (Cyclosporine,
Corticosteroids, Lifitegrast, Ocular Lubricant, Punctal Plug, and Others), by
Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarket/
Hypermarket, Other Stores, and Online Pharmacies), and by Region (North
America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is
estimated to be valued at US$ 5,382.6 Million in 2020 and is expected to
exhibit a CAGR of 16.2% during the forecast period (2020-2027), as highlighted
in a new report published by Coherent Market Insights.
Dry eyes are a part of the natural
aging process. With increasing age, eyes produce less tears and the eyelids
also become less active at spreading the tears whenever a person blinks.
According to the Glaucoma Association’s 2017 report, one in every three people
over the age of 65 experience problems with dry eyes worldwide. According to
the Fellow of the American College of Surgeons, meibomian gland disease (also
referred as evaporative dry eye), is one of the most common causes of dry eyes
throughout the world. An estimated 50 to 70% of the elderly population have
some degree of dry eye and nearly 70% of dry eye involves at least some degree
of meibomian gland disease.
Browse 27 Market Data Tables and
30 Figures spread through 152 Pages and in-depth TOC on "Global Dry Eye
Syndrome Treatment Market, Product Type (Cyclosporine, Corticosteroids,
Lifitegrast, Ocular Lubricant, Punctal Plug, and Others), by Distribution Channel
(Hospital Pharmacies, Retail Pharmacies, Supermarket/ Hypermarket, Other
Stores, and Online Pharmacies), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
* The sample copy includes: Report Summary, Table of
Contents, Segmentation, Competitive Landscape, Report Structure, Methodology.
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of this report: https://www.coherentmarketinsights.com/insight/request-sample/1173
Various small manufacturers are
also focusing on entering the dry eye syndrome treatment market with innovative
and effective products. For instance, in December 2019, Aldeyra Therapeutics,
Inc., a biotechnology company, announced positive results from its Phase 2b
clinical trial of topical ocular reproxalap in patients with dry eye disease.
Reproxalap is a first-in-class therapy with a novel mechanism of action, with
no significant side effects and a rapid onset of action.
There are various late-stage
pipeline drugs for dry eye treatment such as RegeneRx’s RGN-259, which is expected
to be the strongest pipeline asset in the dry eye treatment market. In April
2018, RegeneRx Biopharmaceuticals, Inc. announced the outcome of discussions
between its U.S. joint venture, ReGenTree LLC, and the FDA regarding the
results of the completed phase 3 clinical trial (ARISE-2) and future
development requirements for a New Drug Application (NDA) submission of
RGN-259, a novel drug candidate to treat dry eye syndrome.
Moreover, in October 2018,
Novaliq GmbH announced the positive results for its phase 2b/3 ESSENCE trial of
CyclASol (cyclosporine) 0.1% in patients with dry eye disease. The company
plans to file New Drug Application (NDA) in the US, Japan, and Europe). Thus,
the increasing product development and launch are driving the market growth.
Global Dry Eye Syndrome Treatment
Market: Impact of COVID-19 Pandemic
The outbreak of Coronavirus has
caused a shortage in supply of ophthalmic drugs for the treatment of dry eyes
as the pandemic has created a disruption in the global pharmaceutical supply
chain which is heavily dependent on China. The major raw materials in drug
production are manufactured in China and are exported to other parts of the
world for production of the final drug. As a result, pharmacies and wholesalers
have reported that several of these drugs are out of stock.
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/dry-eye-syndrome-treatment-market-1173
Owing to the shortage of
medications, governments are advising pharmacists to limit the dispensing of
certain dry eye prescription medicines such as chloramphenicol (an antibiotic
for conjunctivitis) eye drops and ointments to a one-month supply according to
the prescribed dose. Also, pharmacists are recommended to sell certain
over-the-counter (OTC) medicines to a maximum of one unit per purchase due to
concerns regarding health impacts on patients due to the shortage of medicines
during the pandemic.
Key takeaways of the Global Dry
Eye Syndrome Treatment Market:
The global dry eye syndrome
treatment market is expected to exhibit a CAGR of 16.2% during the forecast
period (2020–2027) owing to product launches by major manufacturers. For
instance, In May 2018, Teva Canada Limited, a subsidiary of Teva Pharmaceutical
Industries, launched twice-daily eye drop solution, the first generic version
of Allergan’s Restasis in Canada.
Acquisitions and collaborations
among key market players are expected to drive the segment growth during the
forecast period. For instance, in January 2019, Takeda Pharmaceutical Company
Limited acquired Shire plc and became a global, value-based, R&D-driven
biopharmaceutical leader in Japan.
Major players operating in the
global dry eye syndrome treatment market are Allergan Plc., Novartis AG, Bausch
Health Companies, Inc., Johnson and Johnson Vision Care Inc., I-Med Pharma
Inc., Santen Pharmaceuticals Co. Ltd., AFT Pharmaceuticals, Novaliq GmBH, Otsuka
Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., and Teva
Pharmaceutical Industries Ltd.
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report: https://www.coherentmarketinsights.com/insight/buy-now/1173
About
Coherent Market Insights:
Coherent
Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting
services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
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