U.S. 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 Forecast, 2023-2030

The U.S. dry eye syndrome market size was valued at USD 2.84 billion in 2022. The market is projected to grow from USD 3.02 billion in 2023 to USD 4.86 billion by 2030, exhibiting a CAGR of 7.0% during the forecast period.

Dry Eye Syndrome (DES) is one of the most commonly observed clinical diseases in the U.S. The subjective symptoms of this condition include irritation, dryness, eye fatigue, foreign body sensation, pain, heavy sensation, brightness, discharge, and fluctuating visual disturbances. It has been observed that this condition is becoming more prevalent amongst the aging population suffering from chronic conditions such as diabetes. As per a study published by Springer Nature in June 2022, there are 16 million confirmed Dry Eye Syndrome (DES) diagnoses in the U.S., and another 6 million people have the symptoms but have not been diagnosed yet. This rise in the prevalence of this condition amongst the geriatric population will lead to an increase in the adoption of these products for treatment.

The public and private organizations of the U.S. are focusing on increasing awareness among the general population by initiating events and campaigns and celebrating July as National Dry Eye Awareness Month. Moreover, even the market players are promoting their product offerings by introducing innovative campaigns to educate patients about the treatment options for this condition. A stronger need for better ocular health, in conjunction with increased awareness for eye care products, is expected to contribute to the U.S. dry eye syndrome market growth during the forecast period.

COVID-19 IMPACT

U.S. Market Witnessed a Negative Impact due to Decrease in the Diagnosis Rate

The U.S. healthcare system has witnessed a negative impact due to the novel coronavirus. The reason for the market decline included lockdown restrictions that were imposed across various states in the U.S. during the initial days of the pandemic to curb the spread of the novel coronavirus. During the pandemic, several factors contributed to the increase in the patient pool of this disease due to the long term exposure to blue lights of electronic gadgets for work or study purposes, which caused strains on the eye led to dry eye syndrome. However, the U.S. market witnessed a decline due to decrease in the adoption of therapeutic measures, owing to COVID-19 lockdown restrictions. This led to disruptions in supply chains and demand for these products.

• As per a 2020 study published by the Ocular Surface, among 388 respondents, 25% had mild, 21% had moderate, and 54% had severe dry eye. The study was conducted on people working from home during the pandemic.

However, the market players witnessed a steady growth in the revenue of their product in the post pandemic and this growth continued in the FY 2022 too.

• Restasis, a product of Allergan, a company of AbbVie, Inc., generated revenues of USD 755.0 million, USD 1,234.0 million, and USD 621.0 million in FY 2020, FY 2021, and FY 2022, respectively in the U.S. market. Similarly, the Refresh series of the company also exhibited positive growth in the period of FY 2020-2022.

Such positive growth exhibited by the key players in this market will continue throughout the forecast period.

LATEST TRENDS

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Strong Pipeline is expected to Create Market Growth Potential

One of the key trends is that the market players are making strategic alliances to support and accelerate the development of pipeline candidates. The introduction of these pipeline candidates in the market will expand the treatment options for patients suffering from this condition. Therefore, companies are investing largely in upscaling their research & development activities to establish their presence and drive market growth in the forecast period.

• For instance, ReGenTree is a U.S. joint venture between HLB Therapeutics and RegeneRx Biopharmaceuticals, Inc., specifically to develop RGN-259 in both the U.S. and Canada for ophthalmic indications. ReGenTree licensed the rights to RGN-259 from RegeneRx in 2015. Thus far, ReGenTree has sponsored three Phase 3 studies in the U.S. for dry eye, which are ARISE-1 (Phase 2b/3), ARISE-2, and ARISE-3. These emergent trends are expected to contribute strongly to the growth in the forecast period.

DRIVING FACTORS

Increasing Prevalence of Dry Eye Disease to Aid Market Growth 

One of the major drivers responsible for market growth is the increasing prevalence of this condition in the U.S. An increase in the prevalence of this condition will expand the patient pool, which will surge the demand for effective therapeutic measures, leading to market growth. According to the Dry Eye Directory Statistics of 2022, between 16 million and 49 million Americans have dry eyes. The rise in prevalence rates of this condition will contribute to an increase in the adoption of effective treatment options.

Moreover, patients suffering from medical conditions, such as Sjogren's syndrome, allergic eye disease, rheumatoid arthritis, lupus, scleroderma, graft vs. host disease, sarcoidosis, thyroid disorders, or vitamin A deficiency, are at high risk of getting this condition. Hence, this will further increase the diagnosis rate of this disease and the number of patients opting for its treatment, which offer growth opportunities in the forecast period.

• In 2021, a survey was conducted by the Sjögren’s Foundation, Inc., in which it was observed that out of 3,622 respondents suffering from Sjögren’s syndrome, 95% had dry eye symptoms. Such driving factors are expected to further boost the adoption of these products in the forecast period.

Awareness Initiative by Market Players to Drive the Market Growth

Government and non-government initiatives are encouraging many individuals to seek diagnoses and treatment for this condition. In July 2021, the Alliance for Eye and Vision Research (AEVR) along with the Tear Film & Ocular Surface Society (TFOS) hosted the sixth annual Dry Eye Awareness Month Congressional Briefing. The aim of the event was to discuss the causes and quality of life impacts from dry eye disease.

Furthermore, many companies involved in this market promote their products through effective strategies, ultimately contributing to the growth trajectory. This is particularly relevant as factors, such as rising awareness of better ocular health and greater efficiency of treatment outcomes, are expected to drive the market’s growth in the forecast period.

• In July 2020, Novartis launched its direct-to-consumer commercial campaigns named Not Today, Dry Eye, which aims at improving awareness regarding dry eye disease among consumers. The growing awareness about available treatment options and the increased need for improved ocular health are anticipated to boost market growth.

RESTRAINING FACTORS

High Costs of Approved Products to Limit Market Growth

Another critical factor that is limiting the growth of the global market is the high cost of products associated with the treatment of this condition.

• For instance, RESTASIS (Cyclosporine Ophthalmic Emulsion) 0.05% is a higher priced drug product involved in multiple controversies regarding price and patent protection. Further increases in the cost of this product will negatively influence the purchasing nature of the patient population in terms of getting treatment for this condition.

Moreover, companies are focusing on getting regulatory approvals for generic versions of branded products such as Restasis. Hence, such factors are expected to hinder the growth of the market in the forthcoming years.

SEGMENTATION

By Product Analysis

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Anti-inflammatory Segment to Dominate Market in 2022 Due to Increasing Adoption

By product, the market is segmented into anti-inflammatory, artificial tears and lubricants, and others.

The anti-inflammatory segment held a major market share in 2022. The growth of the segment is attributed to the rising demand for prescription medications such as anti-inflammatory drugs. As per an article published by the Journal of Clinical Medicine in 2022, in the U.S., the principle approach for the treatment of this condition is anti-inflammatory therapy. These drugs being the main line of treatment options in the country will increase their adoption rate, leading to segmental growth.

The artificial tears and lubricants held the second largest U.S. dry eye syndrome market share in 2022, owing to the continuous launches of over-the-counter lubricants for the condition, which is projected to drive the segment’s growth. In July 2021, Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., launched the Biotrue Hydration Boost Lubricating Eye Drops in the U.S. that are indicated to relieve symptoms associated with irritated, dry eyes. Such launches will help the segment expand in the U.S. market.

The others segment is estimated to grow at the highest CAGR and includes pipeline candidates and nasal sprays such as Tyrvaya (varenicline solution).

By Distribution Channel Analysis

Large Patient Population Seeking Treatment in Hospitals will Lead to Segment’s Dominance in 2022

By distribution channel, the market is segmented is classified into hospital pharmacies, retail pharmacies, online pharmacies, and others.

The hospital pharmacies segment accounted for the highest market share in 2022. This segment's dominance is largely attributable to the presence of a large patient population seeking treatment for this condition in hospitals, which increases the demand for such drugs in hospital pharmacies.

The retail pharmacies held the second largest share in 2022 and the segment’s growth is attributed to the use of these settings for the procurement of prescription refills. Online pharmacies are expected to grow at the highest CAGR during the forecast period due to factors such as better pricing for artificial tears and lubricants. Moreover, online pharmacies make medications easier to access and more convenient than at retail and hospital pharmacies, which is expected to drive the segment’s growth. Others segment is estimated to grow at a comparatively lower CAGR during the forecast period.

KEY INDUSTRY PLAYERS

Strong Product Portfolio of AbbVie to Intensify its Market Presence in 2022

In terms of the competitive landscape, AbbVie, Inc. has established its market presence through its strong product offering the Over-The-Counter (OTC) products in the artificial tears and lubricants segment. Refresh series is one of the leading product ranges in the market, which is contributing to the company’s established market presence. Similarly, Alcon is focusing on increasing its market share by making strategic acquisitions of products, such as Eysuvis, which is indicated to treat this syndrome.

Some of the other companies with a considerable presence in the U.S. market include Novartis AG. For instance, in May 2019, Novartis AG acquired Takeda’s Xiidra, the first and only prescription treatment approved for both signs and symptoms of dry eye disease. Such strategic moves are expected to further enable companies to strengthen their market presence. Other companies, such as Sun Pharmaceuticals Industries, Inc., Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson Vision Care, Inc., and Santen Pharmaceuticals, are focusing on upscaling their R&D initiatives to introduce novel products in the market.

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)


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


• VISUfarma (Netherlands)

KEY INDUSTRY DEVELOPMENTS:

• November 2022: Alcon acquired Aerie Pharmaceuticals Inc. to expand its ophthalmic pharmaceutical product portfolio. Alcon has also acquired a pipeline of potential ophthalmic pharmaceutical product candidates to make use of Aerie's current research & development resources.


• February 2022: Mylan Pharmaceuticals Inc. received approval from the U.S. FDA for the generic version of AbbVie’s Restasis drug that is indicated to increase tear production in patients with dry eye syndrome.


• November 2021: I-MED Pharma Inc. announced to launch Its Innovative Dry Eye Product Portfolio in the U.S., giving dry eye patients long-lasting relief.


• January 2021: Kala Pharmaceuticals, Inc. received approval for Eysuvis from the U.S. FDA as the first and only corticosteroid indicated to treat the signs and symptoms of dry eye disease for up to two weeks.


• October 2019: Sun Pharmaceuticals Industries Ltd. launched the ophthalmic solution Cequa in the U.S. market, which is indicated for treating dry eye disease.

REPORT COVERAGE

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The research report includes a robust research methodology and provides a detailed analysis and focuses on key aspects such as prevalence of dry eye syndrome in the U.S., key industry developments, pipeline analysis, new product launches, reimbursement policies, regulatory scenario, overview of novel approaches to treat dry eyes, key industry trend, healthcare industry overview, impact of COVID-19 on the market, and overview of over-the-counter eye lubricants in the market. Besides this, the report also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation