Dry Eye Disease Diagnostics & Treatment Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According toVision Research Reports, the global dry eye disease diagnostics & treatment market size surpassed at US$ 6.2 Bn in 2019 and to reach US$ 9.5 billion by 2027 with a CAGR of 3.7% from 2020 to 2027.

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 is one of the common problems, which occurs when eyes do not produce enough tears. Several factors can cause dry eyes such as natural aging process and side effects of certain drugs such as histamines. Diabetes increases the risk of dry eye disease. Moreover, people who wear contact lenses complain of dry eye diseases. Dry eye is caused 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.

North America dominated the global dry eye disease diagnostics & treatment market in 2019. It is expected to dominate the global market in terms of revenue during the forecast period.

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

Rise in Prevalence & Incidence Rates of Dry Eye Disease and Increase in Geriatric Population to Drive Global Market

Rise in prevalence & incidence rates 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. Technical advancements in diagnostic tools and promising pipeline products for dry eye treatment also fuel the growth of the global dry eye disease diagnostics & treatment market. For instance, in Japan, decreased tear film stability is regarded as the core mechanism of dry eye. Hence, dry eye is treated from the aspect of improving the tear film stability. This therapeutic approach has been increasing in importance due to the introduction of ophthalmic solutions that stimulate the secretion of mucin and water. Moreover, adverse effects of rising pollution levels, surge in use of electronics, and increase in number of laser in-situ keratomileusis (LASIK) surgeries are the other factors contributing to the growth of the global dry eye disease diagnostics & treatment market.

Treatment Preferred over Diagnostic Tests Due to Approval of Novel Treatments

In terms of type, the global dry eye disease diagnostics & treatment market has been bifurcated into diagnostic test and treatment. The treatment segment accounted for major market share in 2019 due to large pool of pipeline products for dry eye disease treatment, high number of dry eye patients, and approval of novel treatment approaches in recent years. 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 artificial tears sub-segment accounted for a major share of the treatment segment in 2019, as it is the most commonly prescribed drug forms in ophthalmology. The anti-inflammatory sub-segment has been divided into cyclosporine, corticosteroids, and others.

Evaporative Dry Eye Syndrome to be Major Disease Type

Based on disease, the global dry eye disease diagnostics & treatment market has been classified into evaporative dry eye syndrome and aqueous dry eye syndrome. The evaporative dry eye syndrome segment dominated the global dry eye disease diagnostics & treatment market in 2019. The evaporative dry eye syndrome is projected to be a highly lucrative segment during the forecast period. The segment is anticipated to expand at a higher CAGR from 2020 to 2030, owing to large number of patients, easy access to treatment products, and changing lifestyle habits, which cause evaporative dry eye syndrome.

North America to Dominate Global Market

In terms of region, the global dry eye disease diagnostics & treatment market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global dry eye disease diagnostics & treatment market in 2019, owing to rise in the number of prescriptions for dry eye treatment, favorable reimbursement scenario for diagnostic tests of dry eye disease, high prevalence of dry eye disorders, and approval of branded products by major players. The prevalence of dry eye increases with age. In the U.S., around 98 million people are aged above 50. Therefore, the chances of an increase in the cases of glaucoma in the U.S. are higher. The market in Asia Pacific is expected to expand at a high CAGR during the forecast period, owing to rise in prevalence & incidence of dry eye syndrome, increase in geriatric population, surge in number of eye care centers leading to increased product utilization, rise in air pollutant levels, and increase in awareness about dry eye disease.

Competition Landscape

The global dry eye disease diagnostics & treatment market is fragmented in terms of number of players, with entry of several new players in services sector. Key players in the global market include 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., and RegeneRx (ReGenTree, LLC). Mergers, acquisitions & strategic collaborations, increased research & development expenditure, expansion of distribution channels, and new product & technology launch are major strategies adopted by major companies in the global dry eye disease diagnostics & treatment market.

Market Segmentation

By 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

By Disease

    • Evaporative Dry Eye Syndrome
    • Aqueous Dry Eye Syndrome

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

The Dry eye disease diagnostics & treatment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Dry eye disease diagnostics & treatment market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Dry eye disease diagnostics & treatment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Dry eye disease diagnostics & treatment market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Dry eye disease diagnostics & treatment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Dry eye disease diagnostics & treatment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Dry eye disease diagnostics & treatment by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Dry eye disease diagnostics & treatment market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Dry eye disease diagnostics & treatment market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Dry eye disease diagnostics & treatment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Dry eye disease diagnostics & treatment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Dry eye disease diagnostics & treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Dry eye disease diagnostics & treatment market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Dry eye disease diagnostics & treatment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Dry eye disease diagnostics & treatment market. These factors have benefited the growth of the global market for Dry eye disease diagnostics & treatment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Dry eye disease diagnostics & treatment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Dry eye disease diagnostics & treatment are as follows:

  • History Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 


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