Dry Eye Drugs and Devices Treatment Market Gains Momentum with Growing Demand for Effective Cure, says Market.us

Market growth is expected to be driven by the demand for non-invasive and faster treatment options that provide long-term relief of dry eye symptoms. A session of intense pulsed light (IPL), which lasts approximately 15-20 minutes, is ideal to provide long-term relief for dry eye symptoms. Ideally, 4-5 sessions are required. The market is expected to grow because of the increasing preference of patients who are uncomfortable with the frequent use of eye drops to relieve dry eye symptoms.

According to Market.us, “The Dry Eye Drugs and Devices Treatment Market is projected to reach a valuation of USD 9.53 Billion by 2032 at a CAGR of 7.1%, from USD 4.8 Billion in 2021.” 

Asia Pacific is forecast to grow at 8.1% per year during the forecast period. These devices will be in high demand due to the large patient population. Newer treatment options will be more widely adopted due to the rising incidence of DED in India, Japan, China, and China. Global players are looking for technologically advanced devices to meet this growing demand.

Anurag Sharma, a senior research analyst at Market.us, said, “ One of the most important market trends in dry eye disease is the rise in R&D spending, the success of clinical trials, and the increasing number of product approvals. Many players are involved in clinical trials, such as Aldeyra Therapeutics, Inc., which has Reproxalap, a pipeline candidate, currently in Phase III. This initiative will drive revenue generation from the dry eye disease market.”

The market is expected to grow due to the rising prevalence of dry eyes syndrome (DES) and meibomian dysfunction (MGD), globally. Dry eye is a growing problem due to increased incidence of risk factors like over-use of contact lenses, prolonged digital screen exposure, diabetes, glaucoma, and Sjogren’s syndrome. 

On average, Americans spend more than 10 hours per day looking at digital screens. Because of the growth in the internet network, the average screen time has been steadily increasing every year. The market growth will be negatively affected by COVID-19. This pandemic is expected to result in a decrease in dry eye treatment device adoption. A large number of ophthalmic treatment options have declined due to the virus threat, which is expected to limit the market growth.

Dry eye syndrome management is rapidly changing. Eye care professionals are more likely to address the root cause than just temporary relief. This trend is expected to be a boon for the market. Eye care professionals are also investing in IPL and MGX treatment devices to treat patients at home. This will allow them to make more money, as well as refer patients to other centers.

Its adoption rate is limited by the availability of other treatments, the high costs of IPL treatment, many contraindications, and a lack of a comprehensive health insurance policy in different countries. Patients with low- to moderate incomes are almost unable to afford intense pulsed light treatment at a cost of 700 USD.

The MGX segment accounted for 40.0% of the highest revenue sharing in 2021. MGX is one of top causes of dry eye disease. It removes the meibomian blockage. The frequent introduction of new technologically advanced products that are lighter, more portable, more comfortable for patients, and more effective in treating illnesses is expected to drive this segment. Tearcare by Eye Sciences is an example of a thermal pulse system for treating evaporative dry eyes. It is specifically designed for open-eye procedures.

Intense Pulsed Light is expected to grow at a 7.6% CAGR over this forecast period. Market players are expected to make active efforts in strengthening their distribution network through collaborations and partnerships to help boost segment growth. I-Med Pharma, an American company that specializes in dry eye management technologies, has been granted distribution rights by ESW Vision Canada in April 2020.

The fastest expected growth rate for the forecast period is expected to be the combination of intense pulsed lighting (IPL), and MGX technology. Segment growth will be supported by ongoing clinical trials to determine the effectiveness of this combination technology in treating dry eye disease.

Market Leaders in Dry Eye Drugs and Devices Treatment:

• MiBo Medical Group
• Sight Sciences
• Lumenis
• ESW Vision
• Johnson & Johnson Vision Care
• Alcon, Inc.