Fairfield Market Research, a leading market research firm, has recently published an extensive report on the global dry eye disease treatment devices market. The report provides valuable insights and growth projections for the period 2022 to 2030, highlighting the increasing demand for effective dry eye disease treatment devices driven by an aging population and prolonged exposure to digital screens.
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Meibomian Gland Unclogging Devices Lead the Market
The report reveals that the meibomian gland unclogging device segment spearheads the market. These devices play a crucial role in treating meibomian gland occlusion, a common cause of dry eye condition. Optometrists consistently demand these devices, and notable products such as Sight Sciences' TearCare and Johnson & Johnson Vision’s LipiFlow Thermal Pulsation System contribute to the growth of unclogging devices.
Wearable Devices Offer Lucrative Opportunities
The report highlights the promising growth outlook for wearable devices in the dry eye disease treatment market. With convenient usage and continuous innovations, wearable devices have gained popularity. The introduction of contact lenses for corneal dryness treatment has further fueled the attractiveness and potential of this category.
Evaporative Application Segment Maintains Market Lead
The evaporative application segment maintains its lead in the market, driven by the higher prevalence of meibomian gland dysfunction (MGD). This segment, addressing the needs of patients with MGD, generated significant revenue of $171 million in 2022. While hospitals currently exhibit higher adoption rates, specialty eye care centers are expected to have the highest adoption potential during the forecast period.
North America Dominates, Asia Pacific Shows Fastest Growth
The report indicates the continued dominance of the North American market in the dry eye disease treatment devices market. With an estimated CAGR of 5.5% between 2022 and 2030, the market is projected to reach a revenue of $146.5 million. The region benefits from an expanding elderly patient pool, a significant rise in smartphone usage, and a higher prevalence of diabetes.
Asia Pacific, led by India, emerges as the region with the highest market attractiveness and fastest growth. With a projected CAGR of 7.8% during the forecast period, Asia Pacific witnesses the fastest-growing prevalence of dry eye disease patients. The region's prominent position in the medical tourism industry further drives market expansion.
Key Market Players
The dry eye disease treatment devices market is moderately consolidated, with a few key players holding significant revenue share. Leading companies such as Alcon Vision LLC, Johnson and Johnson Services Inc., Lumenis Be Ltd, AbbVie Inc., ESW – Vision, Sight Sciences, Eyedetec Medical Inc., BlephEx, MiBo Medical Group, and NuSight Medicals- NuLids LLC are actively operating in this market.
The report forecasts the global dry eye disease treatment devices market to exceed $327.1 million in revenue by the end of 2030, reflecting a robust compound annual growth rate (CAGR) of 6%. These projections indicate significant expansion compared to the market valuation of $192 million in 2021.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the dry eye disease treatment market include Bausch + Lomb, Akorn Inc., Novartis AG, Alimera Science, Allergan plc., Santen Pharmaceutical Co. Ltd, Auven Therapeutics, GlaxoSmithKline plc, Nicox S.A., and Otsuka Holdings Co. Ltd.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Dry Eye Disease Treatment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/dry-eye-disease-treatment-market/download-sampleMarket DynamicsExcessive use of smartphones & computers, expanding aging population, which is highly prone to the syndrome, and other risk factors are steering the dry eye disease treatment market.
As per World Population Prospects 2019 estimates, around 9% of the global population is over 65 years of age, and by 2050 this is expected to account for nearly 17% of the worldwide population.
Expanding prevalence of these diseases will tend to cause a rise in the incidence of dry eye disease.
Increasing awareness levels, rising diagnostic rates, availability of better treatment options are other factors augmenting the market's growth.
