Albany, NY -- (SBWIRE) -- 04/17/2019 -- Dry eye disease is a condition that affects the tear film and ocular surface. It is medically known as keratoconjunctivitis sicca. It is an ocular disorder caused by the lack of tear fluid to lubricate the eyes. There are primarily two types of dry eye conditions. One is aqueous tear-deficient dry eye, and the other one is evaporative dry eye. Dry eye syndrome is one of the most common eye disorders around the world and is particularly common in the geriatric demographic. Reduction in the production of tears due to aging is the primary cause of dry eye syndrome among the elderly. Regular users of contact lenses also have an increased risk of dry eye disease. Key players in the Dry Eye Drugs And Devices Treatment Market are constantly introducing new products for the treatment of dry eye disease.
Factors such as rise in the geriatric population around the world, increase in the prevalence of dry eye syndrome, and high incidence of diabetes are expected to boost the dry eye drugs and devices treatment market in the coming years. Moreover, an increase in awareness among the population about dry eye disease is anticipated to drive the market in the near future.
Based on drug, the global dry eye drugs and devices treatment market can be classified into antibiotic drops, hormone drops, artificial tears, and others. The artificial tear segment is projected to account for a significant share of the market in the near future, as artificial tears eye drops are the first step in dry eye treatment. They help to maintain moisture on the outer surface of the eye for a long time. Moreover, artificial tears eye drops can be bought without prescriptions. In terms of device, the market can be segmented into tear duct plugs, thermal pulsation devices, intranasal devices, and others. The thermal pulsation devices segment is expected to expand during the forecast period as the devices effectively remove blockages from the meibmomian gland in the eye, allowing it to properly work to protect the tear film of the eye.
In terms of distribution channel, the global dry eye drugs and devices treatment market can be categorized into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment is expected to constitute a considerable share of the market during the forecast period, because most dry eye drugs can be easily bought without a doctor's prescription. Therefore, patients find it convenient to buy drugs from retail pharmacies.
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In terms of region, the global dry eye drugs and devices treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. The region is projected to account for a significant share of the global dry eye drugs and devices treatment market during the forecast period due to a high incidence of dry eye disease among the American population.
Also, according to available data, the economic burden of dry eye disease in the U.S. alone is US$ 4 Bn per year. The high prevalence of conditions such as diabetes that boost the prevalence of dry eye disease in Europe is expected to drive the market in Europe. According to data published in journals, the prevalence of dry eye diseases is higher in women in Asia as compared to those in Europe and Africa. High prevalence of dry eye disease and availability of advanced diagnostics tools to test the condition are anticipated to propel the market in Asia Pacific.
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Major players operating in the global dry eye drugs and devices treatment market include EyeGate Pharmaceuticals, Inc., Allergan, Inc., Novartis AG, Merck and Co, Inc. Santen Pharmaceutical Co., Ltd, and Shire.