Dry eye disease, also known as keratoconjunctivitis sicca, is a common disorder in which tears fail to provide adequate lubrication or moisture in the eyes. This can be caused by two basic factors: decreased tear production or the generation of low-quality tears that are unable to maintain a coating of tears to cover the eyes. This tearing instability further damages ocular surfaces and causes inflammation. Dry climates, strong winds, excessive use of contact lenses, and prolonged exposure to computer and mobile phone displays are all factors that lead to dry eye illness. Dry eyes can also be caused by chronic disorders such as thyroid disease, rheumatoid arthritis, and others. According to the National Eye Institute, severe or moderate dry eye disease affects 20%–50% of the global population. Due to all these factors, the dry eye disease market will grow significantly during the forecast period. According to OMR Research, the market is expected to grow at a CAGR of 4.6% between 2022 and 2028.
Segments of the Market
The global dry eye disease market is segmented on the basis of type, treatment, and anti-inflammatory drugs. Based on type, the market is sub-segmented into aqueous and evaporative. Based on treatment, it is sub-segmented into drugs, artificial tears, punctal plugs, and secretagogues. Further, based on anti-inflammatory drugs, the market is sub-segmented into lifitegrast, corticosteroids, and cyclosporine.
Based on type, the evaporative sub-segment held the largest market share and is expected to grow the most in the forecast period. The increased prevalence of evaporative dry eye among the global population is the key factor attributed to the segmental rise. Evaporative dry eyes are the most prevalent kind of dry eyes detected in humans, according to the US National Library of Medicine (ClinicalTrials.gov). As of 2021, dry eye disease affected approximately 16.4 million people in the US. Furthermore, evaporative dry eyes account for around 35% to 45% of all occurrences.
Recent Developments
Allergan PLC, Santen Pharmaceutical Co., Ltd., Novartis AG, Pfizer, Inc., Bausch Health Companies, Inc., Johnson & Johnson Vision Care, Inc., and Sun Pharmaceutical Industries, Ltd. are among the prominent competitors in the worldwide dry eye disease market. These market participants are employing a variety of techniques in order to remain competitive. In order to establish a global leadership position in the dry eye disease market, these players are pursuing aggressive methods such as partnerships and product releases. Some of the recent developments in the market include:
• In July 2022, Scope Ophthalmics Ltd. and Aequus Pharmaceuticals Inc. formed a distribution deal for dry eye solutions in Canada. As part of this deal, Aequus obtained the commercial rights to add ten distinct items from Scope's portfolio to its current portfolio. This deal helped Scope Ophthalmics Ltd. expand its presence and consumer base.
• In April 2022, Johnson & Johnson Vision announced the launch of the next-generation TearScience Activator Clear. It is a completely automated therapy for meibomian gland dysfunction (MGD), a primary cause of dry eyes. The TearScience Activator used to provide the therapy has been improved, offering eye care practitioners increased treatment accuracy.
• In February 2021, Kala Pharmaceutical introduced Eysuvis 0.25% for dry eye conditions in the US. Eysuvis is a loteprednol etabonate ophthalmic suspension that has been approved for commercialization by the US Food and Drug Administration. It is the first and only prescription medicine licensed for the treatment of short-term dry eye problems. The drug was approved based on four clinical trials, including three phase III trials and one phase II trial.
• In July 2021, Bausch Health Companies, Inc. introduced Biotrue® Hydration Boost Lubricant Eye Drops and Biotrue® Micellar Eyelid Cleansing Wipes. Both treatments are preservative-free and individually created with organically inspired components to ease symptoms associated with itchy, dry eyes.
Conclusion
The rising incidences of diabetic dry eye are one of the key factors that are prompting the growth of the market. Dry eyes are a relatively common symptom of both type 1 and type 2 diabetes. According to the International Diabetes Federation, roughly 537 million people aged 30 to 80 were diagnosed with diabetes in 2021. The figure is expected to rise to about 630 million by 2030. Additionally, dry eye disease is one of the most common and serious eye disorders among the elderly. As a result of the increased number of senior individuals, the market for dry eye illness is predicted to expand further.