Analysis by Type (Evaporative, and Aqueous); by Diagnosis (Schirmer Test, and Eye Exam); by Treatment (Nutritional Supplements, and Surgery); and by End User (Hospitals, Eye Clinics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The global dry eye syndrome market is estimated to garner a revenue of ~USD 600 Million by the end of 2035 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 300 Million in the year 2022. The growth of the market can primarily be ascribed to the rise in the number of people suffering with dry eye syndrome and higher spending on its treatment. Moreover, there has been a high prevalence from dry eyes owing to various other diseases such as thyroid disorders, diabetes, arthritis, and others, that is expected to boost the market’s growth in the upcoming years. By the end of 2027, the total cost of dry eye treatments is anticipated to reach over USD 6.6 billion across the globe.
The laser treatment is expected to cause the problems with dry eyes as the after results. Therefore, a rise in laser procedures is anticipated to boost the growth of the dry eye syndrome market. After having laser eye surgery, up to 95% of patients may develop dry eyes, that occur when the eyes produce fewer tears. Furthermore, the market growth is also expected to grow on the account of higher use of eye drops, followed by rise in geriatric population worldwide. It is commonly found more among aged population, as it is a disease of the tear film, and ocular surface that requires regular treatment and checks.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~USD 300 Million |
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Forecast Year Market Size (2035) |
~USD 600 Million |
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Regional Scope |
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Growth Drivers
Rising Prevalence of Dry Eye Syndrome- The various environmental problems have led to a rising problem of dry eyes among the population. Higher number of people are getting affected by less secretion tears and irritation in their eyes. Globally, around 5 to 50% of the population suffers from dry eye disease.
Higher Use of Eye Drops- Eye drops are used by the patients suffering from dry eye symptoms, that provides relief to the eyes through adding moisture and nutrition in the eyes. Hence, it is projected to drive the growth of the global dry eye syndrome market. In the United Kingdom, around 3 million people or more used eye drops and ointments per day in 2020. Moreover, there are approximately 2 million people who used eye drops and ointments less frequently than once per month came after this.
Surging Count of People Using Contact Lenses- The post lens tear films become thin, when there is a lack of tear volume in the eye, and the friction between the corneal surface and the contact lens rises, that is expected to increase the market’s growth by the end of 2035. The part of 45 million of adult population in the United States wears contact lenses and nearly two-third share of this population is female.
Growing Number of Elderly Population- In 2020, the count of the geriatric population of the age 60 years and above rose form 1 billion to around 1.4 billion, as per the statistics of the World Health Organization.
Increased Popularity of Laser Treatments- The dry eye symptoms increase after the few months of surgery owing to the lack of moisture in the eyes, for which eye drops are recommended by the doctors. Therefore, it is predicted to rise the growth of the global dry eye syndromes market over the forecast period. Every year, 30 million people have laser eye surgery. Every year around 100,000 individuals in the United Kingdom go for laser eye surgery, moreover, nearly 10 million people in the United States had laser eye surgery in 2018.
Challenges
The global dry eye syndrome market is segmented and analyzed for demand and supply by end user into hospitals, eye clinics, and others. Out of which, the eye clinics segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher demand and greater number of eye clinics and optometrists present all around the world. Furthermore, eye clinics have the specialty in providing treatment for the eye disorders, that leads to better facilities and advanced technique adoption for the treatment of the diseases, and it is further expected to boost the segment’s growth in the market. In 2022, the United States have nearly 1000 eye surgery clinics. Moreover, in 123 countries, there are around 300,000 optometrists. Furthermore, according to the World Economic Forum, to meet the global needs, the world needs around 14 million optometrists.
Moreover, the global dry eye syndrome market can be segmented by treatment into nutritional supplements, and surgery. Out of these, the nutritional supplements segment is expected to hold the largest share over the forecast period. This can be attributed to an upsurge in the intake of dietary supplements in the form of vitamin D and vitamin B12 that helps in providing relief from the symptoms such as inflammation and alleviating burning. In addition, mineral oils are also present in the eye drops that treat mild to moderate dry eye disorders, and it is predicted to surge the growth of the segment in the market.
Our in-depth analysis of the global dry eye syndrome market includes the following segments:
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By Type |
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By Diagnosis |
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By End User |
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By Treatment |
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The North American market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be ascribed to the higher number of people suffering from dry eye disease. Around 16 million to 49 million people in America have dry eyes, which make up approximately 15% of the population. Furthermore, the region’s market growth is also boosted on the account of the higher use of eye drops. In the United States, nearly 120 million Americans used eye drops and eye wash in 2020, and the count is expected to increase to around 123 million by 2024. In addition, there has been a surge in the expansion of eye products, along with the expansion in ocular implants which is further predicted to increase the market’s growth in the region.
On the other hand, the Asia Pacific region is estimated to witness the fastest growth by the end of 2035, backed by the increase in the older population percentage, that are more prone to dry eye disorders. Moreover, the population is also increasing, that is expected to surge the number of dry eye syndrome cases in the region, which in turn is projected to boost the growth of the market in the Asia Pacific region.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Surging count of people using contact lenses, and rising prevalence of dry eye syndrome are estimated to majorly boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2035.
Ans: Several nations lack effective health insurance programmes, and higher cost of the treatment is estimated to challenge the market growth.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Johnson & Johnson Services Inc., Alcon Vision LLC, Allergan (AbbVie), Novartis AG, Allostera Pharma Inc., I-Med Pharma Inc., Acadia Pharmaceutical Inc., Otsuka Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., Lumenis Be Ltd., and others
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, treatment, end user, diagnosis, and by region.
Ans: The eye clinics segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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