The Business Research Company’s Dry Eye Medication Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 18, 2021 /EINPresswire.com/ — Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to improve treatments for dry-eye syndrome. Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the disease with the topical corticosteroid drops being the most common therapy. Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye. However, prolonged usage of corticosteroids has been seen to produce side effects that include the risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation. As a consequence, NSAIDs are increasingly being used as dry-eye treatment instead of steroids because of their non-severe side effects. For instance, Aciex Therapeutics, a US-based pharmaceutical company, is developing NSAIDs which decrease ocular discomfort.
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The global dry eye medication market size is expected to grow from $2.89 billion in 2015 to $3.25 billion in 2020 at a compound annual growth rate (CAGR) of 2.3%. The dry eye medication market is expected to grow at a CAGR of 8.2% to nearly $4.81 billion by 2025, and at a CAGR of 5.7% to $6.33 billion by 2030.
Promising drugs in the pipeline are expected to boost the dry eye disease market in the future. There are several drugs that are being studied in Phase 3 trials for dry eye treatment such as reproxalap (Alderya Therapeutics), tanfanercept (HanAll BioPharma), tivanisiran (Sylentis), Loteprednol etabonate (Kala Pharma), timbetasin (Regenerx) and NOV03 (Bausch + Lomb). Among the most promising drugs, Kala Pharma plans to file the Loteprednol etabonate (KPI-121) by second quarter 2020 with U.S Food and Drug Administration (FDA) based on the STRIDE 3 trial results. KPI-121 0.25% is developed by utilizing the AMPPLIFY mucus-penetrating particle (MPP) drug delivery technology for the treatment of dry eye. Loteprednol etabonate (KPI-121) met both the primary efficacy endpoints in Phase 3 (Stride 3) trial. Upon review and approval by USFDA, the drug may be available for commercialization soon.
Major players covered in the global dry eye medication market are Allergan plc, Alcon Inc., Bausch Health Companies Inc., Novartis AG, Otsuka Holdings Co, Ltd.
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North America was the largest region in the dry eye medication market, accounting for 31.3% of the global dry eye medication market in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest growing regions in the dry eye medication market will be the Middle East and Africa, where growth will be at CAGRs of 20.2% and 12.1% respectively. These will be followed by Western Europe and North America where the markets are expected to grow at CAGRs of 8.3% and 7.6% respectively.
TBRC’s global dry eye medication market report is segmented by type into aqueous dry eye syndrome, evaporative dry eye syndrome, by end-user into hospital pharmacies, eye health clinics, retail pharmacies, online pharmacies, by product type into liquid drops, gel, liquid wipes, eye ointment.
Dry Eye Medication Market 2021 – By Prescription Type (OTC Drugs, Prescription Drugs) By Drug Variation (Branded, Generic) By Type Of Product (Aqueous, Evaporative, Aqueous And Evaporative) By Distribution Channel (Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies) By Delivery System (Liquid, Gel, Ointment) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides dry eye medication market overview, forecast dry eye medication market size and growth for the whole market, dry eye medication market segments, and geographies, dry eye medication market trends, dry eye medication market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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