Valley Cottage, New York, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Some of the key players in the global market for dry eye syndrome treatment include names such as Nicox, Candorvision, Novartis, Allergan Inc., Santen Pharmaceutical Co. Ltd., and Bridge Pharma Inc. among others. Among these companies, Santen, Novartis, and Allergen have made a dominant progress in the global market for dry eye syndrome treatment and are projected to continue their dominance over the course of the given forecast period of 2017 to 2027. In addition to this, the companies in the market are constantly striving to gain an upper hand over their rivals. As a result, they are engaging into strategic business activities such as partnerships, takeovers, and mergers to enhance their overall market presence.
According to the latest report by Future Market Insights, the global market for dry eye syndrome treatment is projected to be valued around US$3.56 Bn by the end of 2017. Furthermore, the market is projected to growth and is estimated to be valued at about US$6.61 Bn by the end of the given forecast period in 2027. The overall growth of the global dry eye syndrome treatment market is expected to be achieved with the help of a strong CAGR 6.4% over the course of the aforementioned forecast period of 2017 to 2027.
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From a geographical standpoint, the global market for dry eye syndrome treatment can be segmented into key regions such as North America, Latin America, Europe, Middle East and Africa, and Asia Pacific except Japan. Of these, the global market is expected to be dominated by North America. The overall valuation of the North America market for dry eye syndrome treatment is expected to reach more than US$2.5 Bn. This growth of the market is expected to be achieved with the help of an impressive CAGR of 6.7% during the given forecast period. The North America market is expected to offer a lucrative business opportunity of US$88.6 Mn in year 2018. Moreover, the market is estimated to create growing opportunities worth US$1.207 Bn from 2017 to 2027.
By the fall of 2027, the APEJ market for dry eye syndrome treatment is expected to reach a figure worth US$878.7 Mn. This growth of the APEJ market is expected to be achieved with the help of an impressive CAGR of 7.4% during the given forecast period. The APEJ market for dry eye syndrome treatment is projected to present an absolute business opportunity of around US$29.7 Mn in 2018 over 2017. The market is also expected to create an incremental business opportunities worth US$446.4 Mn during the period of 2017 to 2027.
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Product Innovations to Drive Growth of Market
More and more supplements producers are developing products specifically targeting at dry eye. One of the major reason for this is LASIK is becoming highly mainstream, and almost everyone who undergoes LASIK surgery will suffer from the dry eye syndrome within the first six months of their treatment. It is one of the chief driving factors for the growth of the global dry eye syndrome treatment market. Another important factor responsible for the growth of the global market is the launch of new product in the market. Recently, Candorvision introduced the CALMO eye spray which is the first eye spray free of preservatives in Canada. The leading players in the market are trying to create products that will take care of dry eye in different delivery channels so as to make sure better compliance of patients and utilization along with ample revenue generations.
No Price Regulations to Impede Market Growth
However, there are some factors that may impede the overall growth of the market in the coming years. One of the chief restraining factor for the growth of the global market is expected to be no control on the prices of the products. Without proper regulations on the prices, it might be difficult for the dry eye care products to reach masses.
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