According to the projections put forth by Inkwood Research, the Global Dry Eye Disease Market is estimated to register a CAGR of 5.76% in terms of revenue during the forecasting years of 2021-2028.
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Dry eye is a chronic syndrome occurring when a person does
not have enough tears to lubricate his or her eyes. The condition is progressive
depending upon the severity as well as cause. Tears are an important aspect of
maintaining optimum eye health, in addition to providing good vision. Although
the disease is typically observed among the elderly, it is becoming widespread
among individuals spending a long time in front of computers. Some of the
leading factors ascribed to dry eye disease include long-term use of contact
lenses, age, medications, and environmental conditions.
Launch of
Promising Pipeline Products to Reinforce Market Growth
The list of pharmaceutical treatments for dry eye disease was
formerly very short, with numerous options categorized as off-label drugs not
designed to treat the condition. The condition’s management is entering a new
era, characterized by the development of drugs that have very specific dry eye
disease indications in mind. For instance, OTX-101 (cyclosporine A 0.09%, manufactured
by SunPharma) is a nanomicellar formulation of cyclosporine A, preservative-free,
in a more robust formulation. Subsequently, in 2017, the Food and Drug
Administration (FDA) accepted it as a new drug application (NDA). During the
same year, the FDA witnessed positive topline results of a confirmatory phase-3
clinical trial for OTX-101, demonstrating a faster onset of action and efficacy
within a trial environment.
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Prescription
is the Fastest-Growing Type
Patients who do not get the desired results despite the
prolonged use of artificial tears available over the counter are advised to
visit an eye specialist. Doctors often prescribe eye drops when satisfactory
outcomes are not obtained by over-the-counter teardrops. For example, Xiidra was
acquired by Novartis acquired from Takeda Pharmaceutical in 2019, an FDA-approved
treatment for dry eye disease caused due to inflammation on the eye’s surface.
Moreover, clinical studies products have depicted a considerable decrease in
dry eye symptoms at twelve and six weeks for some patients.
North
America Dominated the Global Market in 2020
The growth of the dry eye disease market in North America is
predominantly accredited to key drivers such as the presence of
well-established companies, the increasing demand for dry eye products, the
surging healthcare expenditure, and rising government support. However, the
region’s market growth may be limited due to the side effects caused by eye
drops.
Substantial competition exists between leading companies for
developing a new treatment for dry eye disease. Moreover, highly sustainable
competitive benefits via innovations are projected to intensify rivalry among
firms.
Some of the distinguished firms operating in the global
market are Johnson & Johnson, Bausch Health Companies Inc, Allergan PLC
(Acquired by Abbvie), etc.
About Inkwood Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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