According to our latest study on "Dry Eye Products Market Forecast to 2031 - Global Analysis - by Product, Dosage Form, Type, and Distribution Channel" the market was valued at US$ 6.95 billion in 2023 and is expected to reach US$ 10.04 billion by 2030. It is estimated to register a CAGR of 4.7% from 2023 to 2031.

Dry eye is a condition characterized by the lack of adequate quality of tears to lubricate and nourish the eye or by a quick evaporation of tears. With hormonal changes, as people get older, the tendency to produce tears decreases. Dry eye is common in both males and females. However, more cases are recorded in women, mainly those who have gone through menopause. Dry eye is a chronic condition that doesn't have a specific cure, but treatments can help manage the symptoms.

Dry eye disease (DED) ranks third among the most common reasons for visits to an ophthalmology clinic after refractive errors and cataracts, respectively. The prevalence of dry eye is particularly rising in developed nations. Dry eye is caused by multiple factors that result in discomfort, irritation, and visual disturbance. According to an article published by the American Academy of Opthalmology, DED affects approximately 1 in 11 people worldwide, with prevalence ranging from 5% to 50% at various ages. According to a press release by Alcon in 2022, the disease affects ~719 million people globally and ~38 million people in the US. Moreover, the increasing use of digital screens can be associated with a rise in computer vision syndrome (digital eye strain) cases, affecting 26-70% of screen users globally. The prevalence of DED is higher in women and the Asian population among the major demographic groups.

Pprogressive damage caused to the retina due to diabetic retinopathy further results in DED. According to an article published by the American Academy of Ophthalmology, ~191.0 million people globally are estimated to suffer from diabetic retinopathy by 2030. As per the Centers for Disease Control and Prevention (CDC), approximately 9.6 million people (across all ages) in the US were living with diabetic retinopathy in 2021. Thus, the increasing incidence of diabetic retinopathy is driving the growth of the dry eye products market.

By Product, Dry Eye Products Market-Based Insights

The dry eye products market, by product, is segmented into artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, oral omega supplements, and others. The artificial tears segment held the largest dry eye products market share in 2023. The anti-inflammatory drugs segment is anticipated to register the highest CAGR during 2023-2031. The dryness of eyes is a result of the low level of tear production or the lack of the right-quality tear film in the eye. The lack of lubrication of eyes, mostly due to the insufficiency of tears, leads to the dryness of eyes. Artificial tears help maintain good moisture content on the outer surface of eyes, subsequently lubricating them. They are generally available as over-the-counter products. Artificial tears, or eye drops, are available in two forms: with preservatives and without preservatives. These are recommended based on the frequency of use. Artificial tears are also available in gel and gel insert forms. These products may have side effects such as blurred vision.

By Type, Dry Eye Products Market -Based Insights

In terms of type, the dry eye products market is bifurcated into OTC and prescription. The OTC segment held a larger share of the market in 2023, and it is anticipated to register a higher CAGR of 5.1% during 2023-2031. Patients tend to visit ophthalmologists when OTC drugs fail to produce the desired effects. Most of the prescription dry eye products contain preservatives that are added to enable a longer shelf life by preventing bacterial growth. Further, prescription eye drops are used to treat disorders such as DED and the lowering of intraocular pressure (IOP) in glaucoma patients.

American Academy of Opthalmology, and World Health Organization are a few of the major secondary sources referred to while preparing the report on the dry eye products market.