The dry eye disease market is primarily driven by the growing geriatric population prone to dry eye problems and increasing awareness regarding advanced treatment options such as punctal plugs that offer long-lasting relief. Dry eye disease, also known as keratoconjunctivitis sicca, occurs when the tears do not provide adequate lubrication and moisture to the eye. Some common symptoms include burning sensation, redness, soreness, dryness, heavy eyelids, blurred vision and increased susceptibility to infection. The treatment of dry eye disease involves mitigating symptoms through eye drops, gels and tear duct plugs that supplement moisture.

The Global dry eye disease market is estimated to be valued at US$ 5492.44 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the dry eye disease market are VISUfarma, Johnson & Johnson, Otsuka Holdings Co. Ltd., OASIS Medical, Novartis AG, Sentiss Pharma Pvt. Ltd., AbbVie Inc. (Allergan PLC), Bausch Health Companies Inc., Santen Pharmaceutical Co. Ltd., and Sun Pharmaceutical Industries Ltd. The key opportunities in the market include increasing focus on development of artificial tears that closely resemble natural tears. Technological advancement in punctal plugs allows longer lasting relief from dry eyes by blocking tear drainage ducts without surgery.

Market Drivers: Aging population is a major growth driver as dry eye disease is more prevalent among the elderly. According to National Eye Institute, around 25 million Americans aged 50 years and above suffer from chronic dry eye disease each year. Also, increasing awareness and easier access to diagnoses and treatment options for dry eye disease contribute to market growth.

Current challenges in the Dry Eye Disease Market:

Some of the key challenges being faced by the dry eye disease market are lack of approved drugs, under diagnosis of the condition, complexity of standardizing diagnostic tests and high cost of prescription drugs. Dry eye being a chronic condition requires long term treatment which increases the cost burden on patients. Many patients discontinue treatment due to affordability issues. Further, lack of awareness about available treatment options also remains a hurdle.

SWOT Analysis
Strength: Strong product pipeline with new treatment modalities in trials. Growing adoption of disease modifying therapies.
Weakness: Lack of approved drugs for treating underlying causes. Complex diagnostic process increases compliance issues.
Opportunity: Rising geriatric population susceptible to dry eye disorders. Increasing awareness programs can boost early diagnosis.
Threats: Intense competition from generics and biosimilars once leading drugs lose patents. Potential side effects of existing drugs.

Geographical regions concentration:
North America currently accounts for the largest share of the global dry eye disease market, primarily due to the rising geriatric population, increasing prevalence of dry eye disorder, and growing adoption of advanced treatments in the region.

Fastest growing region:
The Asia Pacific region is expected to witness the highest growth over the forecast period in the dry eye disease market owing to improving healthcare infrastructure, increasing disposable incomes, growing awareness about available treatment options and rising focus of leading players entering emerging markets in the region.