DRY EYE DISEASE MARKET ANALYSIS

Regional Analysis

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North America remains the dominant region in the global dry eye disease market and is anticipated to hold 69.8% of the market share in 2024. With high consumer awareness regarding eye health issues, many patients in the U.S. and Canada seek early diagnosis and treatment for dry eye symptoms. This has created a strong demand for various dry eye drugs and devices in the healthcare setting. Increasing number of research studies coupled with growing prevalence of dry eye diseases are the major factors anticipated to drive the growth of the market in this region over the forecasted period. For instance, in January 2021,

Surface Ophthalmics, a pharmaceutical firm dedicated to pioneering treatments for ocular conditions, has revealed that the initial participant in its Phase II clinical study for its experimental product SURF-100 (a combination of mycophenolate sodium and betamethasone sodium phosphate in Klarity vehicle) aimed at addressing chronic dry eye disease has been administered.

The Asia Pacific region, especially China and India, is emerging as the fastest growing market for dry eye disease. Growing industrialization and extensive time spent in front of digital screens have significantly contributed to increased screen time and dry eye cases in Asian countries in recent years. Moreover, the geriatric population in major Asian economies is rising rapidly, adding to the risk of age-related dry eye conditions. Regulatory approvals for clinical trials of novel drugs for the treatment of dry eye disease is anticipated to drive the growth of the market in the Asia Pacific region over the analysis period. For instance, in April, 2023, BRIM Biotechnology Inc., a clinical-stage company, announced that BRM421 for the treatment of dry eye disease, licensed to Grand Pharmaceutical Group Limited, a pharmaceutical company, for the China province, had been approved by the China National Medical Products Administration (NMPA) to conduct Phase 2 clinical trials.