Impact of Outbreak of COVID-19 on Dry Eye Disease Market : Global Industry Analysis, Forecast 2025
The growing array of imaging modalities to shed light on the pathophysiology of dry eye market. This is one of the prominent trends on the back of which the dry eye disease market evolved steadily. The substantial prevalence of dry eye disease (DED) and its growing prevalence among women and aging populations has made the disease a considerable health burden. This has propelled investments in the diagnosis and management of DED. Resultantly, the dry eye diseases market has seen a slew of investments in research and development of novel drugs.
Top players are engaging in licensing agreements and pinning hopes on tactical collaborations to consolidate their positions in the dry eye disease market. In recent years, blockbuster drugs have attracted investments.
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Some of the prominent companies in the dry eye diseases market are Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Allergan plc, Novartis AG, and Santen Pharmaceutical Co.
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Large Strides Made In Diagnostic Modalities Underpin New Avenues for Growth
Among the various regions, the drug pipeline is markedly robust in North America. In fact, the region held a leading share in the global dry eye disease market in 2016. Rising uptake of prescription eyedrops among the patient populations and large strides made in diagnostic modalities have helped the region to occupy a prominent position. In this regard, advancement in mechanism of cyclosporine eye drops. The regional market will continue to do so in coming few years. Growing body of clinical studies and research in ocular surface health has further augmented the prospects in this key market.
Expanding array of anti-inflammatory drugs have kept the drug pipeline rich in the dry eye disease market. Moreover, the loss of productivity due to DED is propelling interest of global health systems in their management, especially in developed nations. Further, advances in diagnostic modalities have expanded understanding of the pathophysiology of the disease among general ophthalmologists.
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Targeted Diagnostic and Therapeutic Approaches expand Potential of Revenues
New targeted diagnostic and therapeutic approaches to the management of this multifactorial condition are opening lucrative avenues in the dry eye disease market. For instance, there is significant unmet need for new diagnostic tests that can detect nerve dysfunction in DED. The association of dry eye diseases with autoimmune diseases and systemic drug therapies has increased the identification of the disease, thereby fueling strides in the market.
The advent of punctal occlusion solutions has expanded the window of management for dry eye diseases. Further, the growing popularity of drug-eluting contact lenses has opened new potential for players in the dry eye disease market. These lenses due to the ease of use are likely to emerge as attractive substitutes for eye drops in patients. Meanwhile, new anti-inflammatory drugs are making way to the dry eye disease market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Dry Eye Disease Market (Product – Artificial Tears, Anti-inflammatory (Cyclosporine, Corticosteroid, and Lifitegrast), Punctal Plugs, and Secretagogue; Distribution Channel – Hospital Pharmacies, Independent Pharmacies & Drug Stores, and Online pharmacies) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025”
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