Dry Eye Medication Global Market Report 2020 REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The dry eye medication market consists of sales of dry eye medications (drugs) to reduce eyelid inflammation, redness, cornea inflammation and tear-stimulating drugs. The global dry eye medication market was valued at about USD 5.09 billion in 2018 and is expected to grow to USD 6.17 billion at a CAGR of 4.9% through 2022. The global dry eye medication market was worth USD 3.95 billion in 2018. It is expected to grow at a compound annual growth rate (CAGR) of 6.14% and reach USD 5.32 billion by 2023. The dry eye medication market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023. The increased number of cases for dry eye disease results in the increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one’s eyes to screens for long duration increase the occurrence of the dry eye more likely. For example, a survey conducted by the American Academy of Ophthalmology in 2015 reported that in the USA, nearly 3.2 million women and 1.68 million men, over the age of 50 were affected by dry eye syndrome. Similarly, a 2017 study conducted by Indian Journal Ophthalmology indicated a 32% prevalence of dry eye disease in the Northern part of India. Rising prevalence of the disease would increase the demand for its treatment and ultimately facilitate the growth of this market. The market for dry eye medication is restricted by the long approval process that is undertaken before any drug is approved by the concerned authority. The standard protocol for testing any new drug demands a series of tests and trials including laboratory tests, animal model tests, and clinical trials. Most drugs fail during clinical trials and only a small percent of them successfully move forward. The cumbersome process of obtaining approvals takes longer duration of time and restricts the growth of this market. For example, Xiidra, a drug for dry eyes was approved by FDA in 2016 after its safety and effectiveness were assessed on more than 1,000 adults in four different clinical trials. Similarly, Kissei Pharmaceutical announced to discontinue the development of KCT-0809 drug after it failed to pass the 3rd phase of clinical trials in 2017. Treatment for dry eye disease improved with incorporation of modern techniques that helped invent advanced hyaluronic acid-based lubricants and lipid emulsions. This technology replaces artificial tears that include isotonic sodium chloride and provide long-lasting lubrication on the surface of the eye. For instance, in 2018 Allergan, a global pharmaceutical company, launched Refresh Repair Lubricant Eye Drops which are designed to repair and protect the eyes from dry eye disease and improve the clarity of vision and is formulated with carboxymethylcellulose (CMC), hyaluronic acid, and osmoprotectants. These components maintain the health of the ocular surface and safeguard epithelial cells. Advances in technology will have a positive effect on the market. The dry eye medication market is strictly regulated by government agencies such USFDA (Food and Drug Administration), European Medicines Agency (EMA), and others. For instance, in the USA, FDA evaluates and approves the drugs meant for dry eye treatment. According to Section 201(g) of the FDA and CFR (Code of federal regulations) act, the licenses are granted to the drug manufacturing companies allowing them to sell only those drugs that are safe and clinically effective. FDA demands a number of tests and several clinical trial rounds before granting such approvals. For example, in January 2019, FDA approved Kala Pharmaceuticals eye related drug called INVELTYS. In 2019, Takeda, largest pharmaceutical in Asia acquired the Shire plc for USD 62 billion. This acquisition expands Takeda’s portfolio which is strengthened by innovative drugs to different therapeutics including dry eyes and has expanded the geographic footprint of the company in Japan and the USA. Shire was founded in 1986 and is headquartered in Massachusetts, USA. Shire develops medicines that aim to improve their patient’s quality of life. Major players in the market are Novartis, Allergan, Otsuka, Santen Pharmaceutical and Auven Therapeutics. Post Views: 1 Tags: Global Dry Eye Medication Market, Global Dry Eye Medication Market Analysis, Global Dry Eye Medication Market Forecast, Global Dry Eye Medication Market Outlook, Global Dry Eye Medication Market Research Report