Rising organic tactics, such as FDA clearance, are projected to drive growth in the worldwide dry eye syndrome treatment market over the forecast period. Additionally, leading firms concentrating on dry eye syndrome treatment product launches are projected to drive growth in the global dry eye syndrome treatment market during the forecast period. The lack of knowledge about dry eye syndrome in rising countries such as Saudi Arabia is one of the primary problems impeding the expansion of the worldwide dry eye syndrome therapy. For example, in January 2021, the International Journal of Medicine in Developing Countries released a study report stating that there is a lack of knowledge about dry eye condition among the Saudi Arabian population, and that most individuals did not have routine ophthalmologist appointments and needed to use electronic gadgets for an extended period of time without taking a break, despite the danger of contracting dry eye syndrome.
According to Coherent Market Insight, Global Dry Eye Syndrome Market is estimated to be valued at US$ 7,245.3 million in 2022 and is expected to exhibit a CAGR of 16.4% during the forecast period (2022-2030).
Key Leaders in the Dry Eye Syndrome Industry:
1. AbbVie Inc.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals worldwide. It has collaborations with Calico Life Sciences LLC; REGENXBIO Inc.; I-Mab Biopharma; Genmab A/S; Janssen Biotech, Inc.; and Genentech, Inc. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
2. Novartis AG
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.
3. Bausch Health Companies Inc.
Bausch Health Companies Inc., together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Salix, International, Solta Medical, Diversified Products, and Bausch + Lomb. Bausch Health Companies Inc. is headquartered in Laval, Canada.
4. Johnson & Johnson
Johnson & Johnson is involved in the research and development, manufacturing, and sale of a variety of healthcare products. Consumer, Pharmaceutical and Medical Devices, and Diagnostics are the three business segments of the company. The company was founded in 1886, headquartered in New Jersey, U.S.
5. Santen Pharmaceutical Co., Ltd
Santen Pharmaceutical Co., Ltd. researches and develops, manufactures, and markets pharmaceuticals and medical devices in Japan and internationally. It offers various pharmaceutical products, including Verkazia, which is used for the treatment of vernal keratoconjunctivitis; STN1008903, which is used for dry eye treatment Santen Pharmaceutical Co., Ltd. was founded in 1890 and is headquartered in Osaka, Japan.
6. AFT Pharmaceuticals
AFT Pharmaceuticals Limited develops, licenses, distributes, and sells pharmaceutical products in New Zealand, Australia, Asia, and internationally. It offers products for use in the areas of allergy, cold and flu, eyecare, first aid, pain management, gastrointestinal, dermatology, and medicated vitamins. The company was incorporated in 1997 and is headquartered in Auckland, New Zealand. In August 2021, AFT Pharmaceuticals, a specialty pharmaceutical company, provided a clinical study data according to which NovaTears+Omega-3, indicated for dry eye treatment, shows significantly effective treatment for evaporative Dry Eye Disease.
7. Novaliq GmbH
The company was founded in 2007, headquartered in Heidelberg, Germany. It is Operator of a biopharmaceutical company designed to develop innovative pharmaceutical formulations. The company's drugs focus on the development and commercialization of ocular therapeutics for dry eye disease (DED), enabling ophthalmologists to get a suitable option for eye treatment.
8. Otsuka Pharmaceutical Co., Ltd.
The company was established in 1989, Otsuka Pharmaceuticals is a pharmaceutical company that operates throughout the globe it is headquartered in Maryland, U.S.
9. Mitotech
Operator of biotechnology Pharmaceuticals Company intended to develop novel drugs for the treatment of age-related disorders. The company was founded in 2009, headquartered in Luxembourg. In February 2021, Mitotech, SA, a Luxembourg-based single-molecule biotechnology company, in collaboration with Essex Bio-Technology Limited, a bio-pharmaceutical company announce the result of phase 3 clinical study of SkQ1 as a treatment for Dry Eye Disease (DED).The clinical study clearly indicate significant impact of SkQ1on central corneal staining, that is further supported by improvement in visual function to patients suffering from dry eye.
*Definition- Diabetes mellitus, Parkinson's disease, rosacea, rheumatoid arthritis, systemic lupus erythematosus, sarcoidosis, Sjögren syndrome, and thyroid illness can all cause dry eye syndrome.
