Asia Pacific Dry Eye Syndrome Market Size, Share & COVID-19 Impact Analysis, By Product (Anti-inflammatory Products {Cyclosporin, Corticosteroids, and Others}, Artificial Tears and Lubricants, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Regional Forecast, 2023-2030

Asia Pacific is the third largest region in the global dry eye syndrome market. It is projected to grow at a CAGR of 9.3% during the forecast period. The global dry eye syndrome market is projected to grow from USD 6.61 billion in 2022 to USD 11.26 billion by 2030.

The growing adoption of eye care products for the treatment of dry eye syndrome has led market players in the region to emphasize getting regulatory approvals to expand their product presence in Asian countries. For instance, in October 2021, Ikervis, a product of Santen Pharmaceutical Co., Ltd. was listed on Australia's Pharmaceutical Benefits Scheme (PBS). The company received approval for Ikervis in December 2020 from the Therapeutics Goods Administration (TGA) to commercialize the product in Australia through Seqirus. Similar efforts from leading players will accelerate the Asia Pacific dry eye syndrome treatment market growth during the forecast duration.

Our report on the Asia Pacific dry eye syndrome market covers the following countries/regions - Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific.

LATEST TRENDS

Introduction of Innovative Campaigns to Increase Product Adoption Rate

One of the prevailing trends observed in the market is the rising initiatives of market players to increase awareness of this condition and promote their product offerings as a therapeutic measure through launching innovative campaigns. In July 2021, Sun Pharmaceutical Industries Limited, an India based company, launched an unbranded video campaign called “Dry Eye Gets Personal”. Furthermore, government authorities of various Asian countries are also organizing events to increase awareness of the diagnosis and treatment of this condition which is anticipated to offer growth opportunities for market players to introduce novel products in the coming years. Such trends will contribute to the increase of the market size in the forecast period.

DRIVING FACTORS

Preference for Over the Counter Drugs in Asian Countries to Drive the Market Growth

One of the critical factors driving the market growth in the region is the growing preference for Over-The-Counter (OTC) drugs especially artificial tears for the treatment of dry eye syndrome. Over-the-counter artificial tears historically have been the first line of treatment for dry eye syndrome and dry eye‐related conditions. Moreover, ocular lubricants are designed to support the quality and quantity of tear film and are the first-line treatment for this condition in many Asian countries such as China, South Korea, Japan, and Thailand.

• According to an article published by Frontiers in August 2021, ocular lubricants such as sodium hyaluronate and pranoprofen were the main pharmacotherapy agents used for treatment of dry eye syndrome in Chinese patients. Out of these two, sodium hyaluronate use increased over time, and the drug was used by 65.9% of patients by the end of the study while pranoprofen was the second most frequently used drug. This growing preference of the patient population toward OTC drugs will drive the adoption rate of eye care products leading to market growth.

RESTRAINING FACTORS

Low Priority Given to Ocular Health May Restrict the Market Growth 

One of the leading factors responsible for the growing prevalence of this condition is the ignorant attitude of the general population toward ocular health. One of the major factors delaying timely treatment is the lack of awareness of eye conditions which can be treated or corrected easily with proper diagnosis and medications such as anti-inflammatory drugs. In Asian countries such as India, people do not visit ophthalmologists on a regular basis unless there is a major symptomatic condition observed. Hence, the prevalence of such ocular conditions is also increasing due to long-term exposure to digital devices.

• As per a news article published in the Hindustan Times in 2019, one in five Indians go for regular eye checkups and about 84% admitted that they are not following their doctor’s advice for eye care. Hence, this leads to a lower adoption rate of these eye care products which include anti-inflammatory drugs that may limit the market expansion potential.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, some of the key players dominating in terms of the Asia Pacific dry eye syndrome market share are AbbVie, Inc., Alcon, Novartis AG, and Santen Pharmaceutical Co., Ltd. The companies are focused on strengthening their market position through active investment in R&D by getting approvals in various Asian countries, especially Santen.

Other players include Bausch & Lomb Pvt. Ltd. and Sun Pharmaceutical Industries Ltd., who are focusing on undertaking research collaborations and expanding product presence across the region. Some other major players are Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Vision Care, Inc., Sentiss Pharma Pvt. Ltd., and others. These companies are focused on expanding their product presence through various campaigns to increase their product adoption rate and market share in Asia Pacific.

LIST OF KEY COMPANIES PROFILED:

• AbbVie Inc. (Ireland)


• Alcon (Switzerland)


• Novartis AG (Switzerland)


• Santen Pharmaceutical Co., Ltd. (Japan)


• OASIS Medical (U.S.)


• Sun Pharmaceutical Industries Ltd. (India)


• Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings, Co., Ltd) (Japan)


• Sentiss Pharma Pvt. Ltd. (India)


• Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.) (U.S.)


• VISUfarma (Netherlands)

KEY INDUSTRY DEVELOPMENTS:

• February 2023: The marketing authorization application of Jiangsu Hengrui Pharmaceuticals Co., Ltd.’s drug SHR8058 (perfluorohexyloctance) was accepted by the Chinese National Medical Products Administration (NMPA), which is indicated to treat dry eye disease.


• November 2022: Santen Pharmaceutical Co., Ltd launched the dry eye treatment DIQUAS LX Ophthalmic Solution 3% (diquafosol sodium) in Japan. This solution improves the symptoms of dry eye and corneal epithelial damage.


• August 2021: Oyster Point Pharma, Inc. sold the rights to two nasal sprays OC-01 and OC-02 for patients with dry eye disease in greater China to Ji Xing Pharmaceuticals.

REPORT COVERAGE

The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments in the market. Along with the market forecast, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are prevalence of dry eye syndrome, by key countries, trend analysis, key industry developments, new product launches, reimbursement policies, regulatory scenario, healthcare industry overview, and the impact of COVID-19 on the market.

Report Scope & Segmentation