April 22, 2024

Dry Eye Disease Market is Estimated to Witness High Growth Owing to Rising Awareness About Disease Management

Dry eye disease, also known as keratoconjunctivitis sicca, is a multifactorial disease of the ocular surface characterized by lack of sufficient moisture and tear film instability. Common symptoms of dry eye include stingy or burning sensation in eyes and blurred vision.

Market Dynamics:

The Dry Eye Disease Market is witnessing high growth owing to rising awareness about disease management and increasing number of people experiencing symptoms of dry eyes. According to the report, increasing usage of electronic devices and prolonged screen time is a major driver fueling the demand for dry eye treatments. Additionally, growing geriatric population worldwide who are more prone to dry eyes is also contributing to the market growth. Availability of various treatment options along with new product launches is further expected to boost the market during forecast period.

Increasing Prevalence of Dry Eye Disease is Driving Market Growth

One of the major market drivers for the dry eye disease market is the increasing prevalence of dry eye disease globally. According to studies, dry eye disease affects millions of people worldwide and its prevalence is continuously rising. The increasing burden of digital device usage and growing geriatric population are major factors contributing to the rising cases of dry eye disease. Prolonged exposure to digital screens decreases blinking rate which hampers tear film stability. Also, aging process decreases tear production over time making older people more prone to dry eye symptoms. The growth in cases is expected to drive more product adoption in the market.

Rising Awareness about Treatment Options is Boosting the Market

Growing patient awareness about various treatment alternatives available for dry eye disease is another major market growth driver. Earlier, dry eye disease use to be considered as a mild condition and under-diagnosed. However, now patients are more informed about how prolonged dry eye can negatively impact daily activities and vision. They are also aware that neglecting mild dry eye symptoms can deteriorate into severe dryness over time. Therefore, more patients are actively seeking treatments instead of ignoring mild discomfort. The increased focus on early diagnosis and management of dry eye disease signs and symptoms is fueling demand in the market.

Lack of Disease-Modifying Drugs acts as a Market Restrain

One of the key restraints for the dry eye disease market is the lack of disease-modifying treatments. Most of the currently available drugs and devices only provide symptomatic relief and do not modify the underlying disease pathology. They aim to lubricate or supplement tears temporarily but do not address actual root causes like meibomian gland dysfunction. This limits long-term treatment outcomes and often requires lifelong adherence to medication routines. The absence of curative options also hampers product development activities in the market. Companies have to invest significantly in R&D to discover novel mechanisms that can target dry eye at its origin. This high innovation barrier poses challenges for market growth.

New Product Launches Present Lucrative Opportunities

The robust product pipeline with novel drug formulations and devices represents a major growth opportunity in the dry eye disease market. Companies are investing heavily in developing innovative drugs that can potentially modify disease course when administered early. Some therapies in clinical trials include corticosteroid nanocrystals, autologous serum tears eye drops and NLRP3 inflammasome inhibitors. Besides, advanced devices like stand-alone lipiflow procedure, new generation punctal plugs and sterile compressive treatment also hold promise. Their expected commercialization over the forecast period will attract more patients, boost adoption rates and stimulate competition in the market. Payer coverage for these breakthrough medications can further expand patient access and market revenue.

Increasing Application of Artificial Intelligence Transforms Market Trends

One of the key emerging trends in the dry eye disease market is the rising integration of artificial intelligence. AI techniques are now being validated to advance diagnostics, develop personalized treatment algorithms and improve remote monitoring solutions. For instance, AI-assisted imaging tools can aid in automated, quantitative and objective dry eye assessment to standardized evaluations. ML applications also allow building specialized management pathways based on individual patient factors, disease traits and response to prior lines of therapy. Telehealth platforms complemented with sensors, AI image recognition and predictive analytics further enable round-the-clock monitoring from the comfort of home. Such digitally-enabled care models aim to enhance outcomes, lower costs and transform dry eye management over the long-run.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it