Dry Eye Disease Diagnostics & Treatment Market to reach US$ 9.8 Bn by the end of 2030

Emphasis on Improving Management of Dry Eye Diseases and Rise in Research Activities to Aid Market Growth

Dry eye diseases continue to remain a major health problem for millions of patients worldwide. As per the report published by the International Dry Eye Workshop II (DEWS II), dry eye is a multifactorial disease that is caused by the homeostasis loss of the tear film and other ocular symptoms. There are two major types of dry eye diseases as per the pathophysiological classification– aqueous deficient dry eye (ADDE) and evaporative dry eye (EDE). At present, considerable research and development activities are being focused on improving management and treatment of dry eyes by taking into account etiological distinctions.

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Research and development activities are also expected to play an imperative role in new treatment strategies that are in sync with dry eye identification and diagnosis criteria. In recent years, tear film-oriented therapy has gained considerable traction worldwide due to which, the global dry eye disease diagnostics & treatment market is likely to witness a considerable boost during the forecast period. In addition, recent advancements in the medical technology and a growing understanding of pathophysiology, along with risk factors and etiology of dry eye disease, have led to the progress of new therapies.

At the back of these factors, along with the growing emphasis on research and development activities, the global dry eye disease diagnostics & treatment market is on the course to reach US$ 9.8 Bn by the end of 2030.

Promising Pipeline Treatments and Therapies to Provide Impetus for Market Growth

Despite considerable progress and advancements made in dry eye disease diagnostic and treatment, there continues to remain a considerable unmet medical requirement for efficient and highly effective dry eye treatments due to which, research and development activities have gained considerable momentum over the past decade. Due to surplus in the number of research activities, promising treatment and innovative products are currently in the pipeline awaiting approval from the FDA. Due to limited efficacy of current dry eye treatment and diagnostic alternatives, a range of companies in the dry eye disease diagnostics & treatment market has joined the race toward discovering an effective and treatment for dry eye diseases.

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One of the most common dry eye diseases is the chronic inflammatory disease, which continues to affect the quality of life of millions of people worldwide. Due to major shortcomings of existing treatments for dry eye diseases, the focus in the dry eye disease diagnostics & treatment market primarily shifted toward drug development and new treatments. Several companies are currently in the process of developing new drugs or waiting for the approval of the FDA for their newly developed alternatives. For instance, Kala Pharmaceuticals recently submitted a drug application to the FDA for a new drug– KPI-121 for dry eye treatment due to considerable encouragement received in phase one and phase two trials. Similarly, Aldeyra Therapeutics is currently enrolling patients for phase three clinical trials in which, the efficacy of the newly developed reproxalap ophthalmic solution is likely to be evaluated. Research and development activities coupled with a flurry of promising products in the pipeline are set to open up new avenues for players operating in the current dry eye disease diagnostics & treatment market.

Telemedicine Services Likely to Grow amid COVID-19 Pandemic

The ongoing COVID-19 pandemic is expected to have a short-term impact on the overall growth of the global dry eye disease diagnostics & treatment market. In terms of clinical trials and research, activities are likely to remain unaffected due to the exemption provided by governments. In addition, as scientists and researchers continue to explore the link between the novel coronavirus and its effect on patients suffering from dry eye diseases, research activities are projected to remain seamless. In terms of in-person appointments with patients, numbers are likely to witness a considerable drop, as several eye care professionals are increasingly turning toward telemedicine services for routine checkups. The demand for dry eye disease diagnostic and treatment, particularly in the first two quarters of 2020, is expected to remain sluggish. However, the dry eye disease diagnostics & treatment market is projected to show signs of recovery in the latter half of 2020 and continue to grow at a faster rate in 2021.

Analysts’ Viewpoint

The global dry eye disease diagnostics & treatment market is anticipated to grow at a moderate CAGR of ~4% during the forecast period. The market growth can be primarily attributed to factors such as growing prevalence of dry eye diseases worldwide, advancements in medical technology, focus on research and development activities, and promising pipeline products and therapies. Market players should focus on research activities to discover cost-efficient and highly effective treatment and drugs for dry eye disease treatment. Moreover, market players should focus on product diversification mainly during the pandemic, and offer products that are in demand during the COVID-19 crisis.

Dry Eye Disease Diagnostics & Treatment Market: Overview

Dry eye is a disorder of the tear film due to tear deficiency or excessive evaporation, which causes damage to the interpalpebral ocular surface and is associated with symptoms of ocular discomfort

Different diagnostic tests are performed for diagnosis of dry eye disease such as Schirmer’s test, corneal staining, and tear osmolarity. Treatment options for dry eye include artificial tears, anti-inflammatory drugs, and secretagogue.

Diagnostic tests for dry eye disease include tests, which generally measure three components for diagnosis: subjective symptoms, tear function, and vital staining test

Several diagnostic tests have been developed such as Schirmer’s test, corneal staining, tear break-up time (TBUT), tear osmolarity, tear stability analysis, and OCT

Treatment for dry eye disease consist of medications such as cyclosporine, anti-inflammatory drugs, artificial tear, and secreatagogue. Punctal plugs and eye inserts are also used to treat dry eye disease.

Treatment aims to lubricate eye, reduce inflammation of tear glands, eye linings, avoid withdrawal or drainage of tears, and increase mucin production to support tear film adhesion

Dry Eye Disease Diagnostics & Treatment: Market Drivers

Rise in prevalence and incidence rate of dry eye disease and increase in geriatric population are the major factors boosting the growth of the global dry eye disease diagnostics & treatment market

An article published in the American Journal of Ophthalmology stated that the estimated prevalence of dry eye disease was 5.28% in the U.S. between 2003 and 2015

Technical advancements in diagnostic tools and promising pipeline products for treatment, adverse effects of rising pollution levels, and increase in the use of electronics are the other factors fuelling the growth of the global dry eye disease diagnostics & treatment market

Moreover, rise in the number of laser in-situ keratomileusis (LASIK) surgeries contributes to the growth of the global dry eye disease diagnostics & treatment market

Market Segmentation: Dry Eye Disease Diagnostics & Treatment Market

In terms of type, the global dry eye disease diagnostics & treatment market has been bifurcated into diagnostic test and treatment

The diagnostic test segment has been split into Schirmer’s test, corneal staining, tear break-up time (TBUT), optical coherence topography (OCT), tear film stability analysis, tear osmolarity, and others

The treatment segment has been segregated into artificial tears, anti-inflammatory, punctual plugs, secretagogue, and others

The anti-inflammatory sub-segment has been divided into cyclosporine, corticosteroids, and others

Based on disease, the global dry eye disease diagnostics & treatment market has been classified into evaporative dry eye syndrome and aqueous dry eye syndrome

Each of the dry eye disease diagnostics & treatment market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and useful insights

The dry eye disease diagnostics & treatment market report provides current and future revenues (US$ Mn) for each the segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.

Regional Overview: Dry Eye Disease Diagnostics & Treatment Market

In terms of region, the global dry eye disease diagnostics & treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.

North America dominated the global dry eye disease diagnostics & treatment market in 2019 and the trend is projected to continue during the forecast period

The current and future dry eye disease diagnostics & treatment market sizes in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2018 to 2030, along with their CAGRs for the period from 2020 to 2030

The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and existing companies to increase market shares and help in the decision-making process

Dry Eye Disease Diagnostics & Treatment Market: Major Players

The dry eye disease diagnostics & treatment market report concludes with the company profiles section that includes key information about the major players in the market

Key players analyzed in the dry eye disease diagnostics & treatment market report are 

• Novartis AG
• Allergan plc
• OASIS Medical
• Santen Pharmaceutical Co., Ltd.
• Johnson & Johnson
• Otsuka Pharmaceutical Co., Ltd.
• Sentiss Pharma Pvt. Ltd.
• Tomey Corporation
• Carl Zeiss Meditec AG
• TearLab Corporation
• Bausch Health Companies, Inc.
• RegeneRx (ReGenTree, LLC)

Each of these players has been profiled in the global dry eye disease diagnostics & treatment market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

Key Questions Answered in Dry Eye Disease Diagnostics & Treatment Market Report

• What is the sales/revenue generated by each type and disease segment of the global dry eye disease diagnostics & treatment market across all regions during the forecast period?
• What are the opportunities in the global dry eye disease diagnostics & treatment market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which region is likely to expand at the fastest CAGR during the forecast period?
• Which dry eye disease diagnostics & treatment segments are expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
• What is the market share or position of different companies operating in the global market in 2019?

Dry Eye Disease Diagnostics & Treatment Market – Segmentation

Type

• Diagnostic Test
• Schirmer’s Test
• Corneal Staining
• Tear Break-up Time (TBUT)
• Optical Coherence Topography (OCT)
• Tear Film Stability Analysis
• Tear Osmolarity
• Others
• Treatment
• Artificial Tears
• Anti-inflammatory
• Cyclosporine
• Corticosteroids
• Others
• Secretagogue
• Punctal Plugs
• Others

Disease

• Evaporative Dry Eye Syndrome
• Aqueous Dry Eye Syndrome

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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