Our recent analysis titled "Dry Eye Products Market Forecast to 2031 - Global Analysis - by Product, Dosage Form, Type, and Distribution Channel" indicates that the market was valued at approximately US$ 6.95 billion in 2023 and is projected to grow to around US$ 10.04 billion by 2030. This growth represents an estimated compound annual growth rate (CAGR) of 4.7% from 2023 to 2031.

Dry eye syndrome is a condition that arises when there is insufficient quality tear production to adequately lubricate and nourish the eyes, or when tears evaporate too quickly. As individuals age, particularly due to hormonal changes, their tear production tends to decline. This condition affects both genders, but it is more frequently reported in women, especially those who have reached menopause. Although there is no definitive cure for dry eye, various treatments are available to alleviate the symptoms.

Dry eye disease (DED) is the third most common reason for patients to visit ophthalmology clinics, following refractive errors and cataracts. The incidence of dry eye is notably increasing in developed countries. This condition can be triggered by a variety of factors that lead to discomfort, irritation, and visual disturbances. An article from the American Academy of Ophthalmology states that DED impacts approximately 1 in 11 individuals globally, with prevalence rates varying from 5% to 50% across different age groups. A press release from Alcon in 2022 highlighted that around 719 million people worldwide and approximately 38 million in the United States are affected by this condition. Additionally, the rise in digital screen usage has been linked to an increase in cases of computer vision syndrome, also known as digital eye strain, which affects between 26% and 70% of screen users worldwide. The prevalence of DED is particularly higher among women and within the Asian demographic.

Furthermore, progressive damage to the retina caused by diabetic retinopathy contributes to the development of DED. The American Academy of Ophthalmology estimates that by 2030, around 191 million individuals globally will be affected by diabetic retinopathy. According to the Centers for Disease Control and Prevention (CDC), approximately 9.6 million people in the United States were diagnosed with diabetic retinopathy in 2021. Consequently, the rising incidence of this condition is a significant factor driving the growth of the dry eye products market.

Insights on Dry Eye Products Market by Product

The dry eye products market is categorized by product type into artificial tears, anti-inflammatory medications, punctal plugs, secretagogues, oral omega supplements, and other products. In 2023, the artificial tears segment dominated the market share. The anti-inflammatory drugs segment is expected to experience the highest CAGR during the period from 2023 to 2031. Dryness in the eyes typically results from inadequate tear production or the absence of a proper tear film. Insufficient lubrication, primarily due to low tear levels, leads to dry eyes. Artificial tears are designed to maintain moisture on the eye's surface, providing necessary lubrication. These products are generally available over-the-counter and come in two forms: those with preservatives and those without, depending on the frequency of use. Additionally, artificial tears can be found in gel and gel insert formats, although they may cause side effects such as temporary blurred vision.

Insights on Dry Eye Products Market by Type

The dry eye products market is also divided by type into over-the-counter (OTC) and prescription products. The OTC segment held a larger market share in 2023 and is projected to grow at a higher CAGR of 5.1% from 2023 to 2031. Patients often seek ophthalmological advice when OTC treatments do not yield satisfactory results. Most prescription dry eye products contain preservatives to extend shelf life by preventing bacterial contamination. These prescription eye drops are utilized to treat conditions such as DED and to reduce intraocular pressure (IOP) in patients with glaucoma.

In preparing the report on the dry eye products market, several key secondary sources were referenced, including the American Academy of Ophthalmology and the World Health Organization.