Dry Eye Syndrome Treatment Market To Surpass US$ 15,430.8 Million By 2027 - Coherent Market Insights

Global DryEye Syndrome Treatment Market, by Product Type (Cyclosporine,Corticosteroids, Lifitegrast, Ocular Lubricant, Punctal Plug, and Others), byDistribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarket/Hypermarket, Other Stores, and Online Pharmacies), and by Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa), isestimated to be valued at US$ 5,382.6 Million in 2020 and is expected toexhibit a CAGR of 16.2% during the forecast period (2020-2027), as highlightedin a new report published by Coherent Market Insights.

Dry eyes are a part of the naturalaging process. With increasing age, eyes produce less tears and the eyelidsalso become less active at spreading the tears whenever a person blinks.According to the Glaucoma Association’s 2017 report, one in every three peopleover the age of 65 experience problems with dry eyes worldwide. According tothe Fellow of the American College of Surgeons, meibomian gland disease (alsoreferred as evaporative dry eye), is one of the most common causes of dry eyesthroughout the world. An estimated 50 to 70% of the elderly population havesome degree of dry eye and nearly 70% of dry eye involves at least some degreeof meibomian gland disease.

Browse 27 Market Data Tables and30 Figures spread through 152 Pages and in-depth TOC on "Global Dry EyeSyndrome Treatment Market, Product Type (Cyclosporine, Corticosteroids,Lifitegrast, Ocular Lubricant, Punctal Plug, and Others), by Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Supermarket/ Hypermarket, OtherStores, and Online Pharmacies), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"

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Various small manufacturers arealso focusing on entering the dry eye syndrome treatment market with innovativeand effective products. For instance, in December 2019, Aldeyra Therapeutics,Inc., a biotechnology company, announced positive results from its Phase 2bclinical trial of topical ocular reproxalap in patients with dry eye disease.Reproxalap is a first-in-class therapy with a novel mechanism of action, withno significant side effects and a rapid onset of action.

There are various late-stagepipeline drugs for dry eye treatment such as RegeneRx’s RGN-259, which is expectedto be the strongest pipeline asset in the dry eye treatment market. In April2018, RegeneRx Biopharmaceuticals, Inc. announced the outcome of discussionsbetween its U.S. joint venture, ReGenTree LLC, and the FDA regarding theresults of the completed phase 3 clinical trial (ARISE-2) and futuredevelopment requirements for a New Drug Application (NDA) submission ofRGN-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 ofCyclASol (cyclosporine) 0.1% in patients with dry eye disease. The companyplans 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 TreatmentMarket: Impact of COVID-19 Pandemic

The outbreak of Coronavirus hascaused a shortage in supply of ophthalmic drugs for the treatment of dry eyesas the pandemic has created a disruption in the global pharmaceutical supplychain which is heavily dependent on China. The major raw materials in drugproduction are manufactured in China and are exported to other parts of theworld for production of the final drug. As a result, pharmacies and wholesalershave reported that several of these drugs are out of stock.

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Owing to the shortage ofmedications, governments are advising pharmacists to limit the dispensing ofcertain dry eye prescription medicines such as chloramphenicol (an antibioticfor conjunctivitis) eye drops and ointments to a one-month supply according tothe prescribed dose. Also, pharmacists are recommended to sell certainover-the-counter (OTC) medicines to a maximum of one unit per purchase due toconcerns regarding health impacts on patients due to the shortage of medicinesduring the pandemic.

Key takeaways of the Global DryEye Syndrome Treatment Market:

The global dry eye syndrometreatment market is expected to exhibit a CAGR of 16.2% during the forecastperiod (2020–2027) owing to product launches by major manufacturers. Forinstance, In May 2018, Teva Canada Limited, a subsidiary of Teva PharmaceuticalIndustries, launched twice-daily eye drop solution, the first generic versionof Allergan’s Restasis in Canada.

Acquisitions and collaborationsamong key market players are expected to drive the segment growth during theforecast period. For instance, in January 2019, Takeda Pharmaceutical CompanyLimited acquired Shire plc and became a global, value-based, R&D-drivenbiopharmaceutical leader in Japan.

Major players operating in theglobal dry eye syndrome treatment market are Allergan Plc., Novartis AG, BauschHealth Companies, Inc., Johnson and Johnson Vision Care Inc., I-Med PharmaInc., Santen Pharmaceuticals Co. Ltd., AFT Pharmaceuticals, Novaliq GmBH, OtsukaPharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., and TevaPharmaceutical Industries Ltd.

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