Akorn, Incorporated., AbbVie, Auven Therapeutics, Nicox S.A., and Novartis AG, among others, are significant players in the global dry eye syndrome market.
The global dry eye syndrome market is expected to grow at a CAGR of about 6.8% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the growing geriatric population.
Dry eye syndrome, variously known as keratoconjunctivitis sicca (KCS), refers to a condition in which the eye surface of an individual is dehydrated or lacks lubrication. It is a common illness that can affect almost everyone. Some symptoms of dry eye syndrome include nausea and burning sensations, watery eyes, swelling, redness, fatigue, itchiness, and photophobia. Dry eye illness may be triggered by a variety of factors, including menopause, excessive computer usage, LASIK eye surgery, allergies, smoking, obesity, and hormone replacement treatment, among others.
The market is growing on account of the increasing prevalence of dry eye syndrome across the globe. The surging incidences of dry eye syndrome in the global ageing population owing to the weakening tear gland are expected to aid the market growth. Moreover, the increasing cases of illnesses, including vitamin A deficiency, lupus, thyroid disease, and rheumatoid arthritis, among others, are also inducing dry-eye syndrome, which is likely to support the dry eye syndrome treatment market in the forecast period.
As diabetes can impair eye function, the frequency of dry eye syndrome is increasing due to the growing diabetic population. With the rising awareness regarding the complications related to dry eye syndrome, including damage to the eye surface, eye infections, and decreased quality of life, the demand for optimal treatment of dry eye syndrome is anticipated to grow. In addition, the market is likely to be bolstered by the growing exposure to wind, smoke, and dry climates amid the rapid climate change, which is boosting the prevalence of dry eye syndrome.
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|Headquarters:||Illinois, United States|
Akorn is a specialised pharmaceutical company that develops, manufactures, and markets prescription, consumer health, and animal health products. The company offers branded and generic medicines in alternative dosage forms such as ophthalmic, injectables, oral liquids, optics, topicals, inhalants, and nasal sprays among others. Its eye health division offers therapeutic and diagnostic services in eye health, while its consumer health division sells private label OTC brands and markets OTC counter brand.
|Headquarters:||Illinois, United States|
AbbVie is a biopharmaceutical company that is engaged in discovering and delivering products and medicines in various therapeutic areas such as oncology, women’s health, neuroscience, immunology, and eye care, among others. With nearly 48,000 employees in more than 70 countries across the globe, the company has invested about USD 50 billion in the R&D of new medicines, including USD 5.8 billion in 2020. Its products treat about 57 million people with over 60 health issues each year.
|Headquarters:||US Virgin Islands, United States|
Auven Therapeutics is a private equity company focused on life science investing. It also operates an internal drug development segment to efficiently manage drug development while increasing the value of its therapeutic assets. The company aims to bridge the gap between tiny biotechnology firms’ lack of financing and often limited development competence and established pharmaceutical companies’ pipeline scarcity of late-stage clinical medicines. Moreover, its portfolio addresses the growing demand for the treatment of women’s health, cancer, ophthalmic conditions, and orphan diseases.
Nicox S.A. is a French ophthalmology firm that develops therapies for vision preservation and ocular health. Nicox is listed on Euronext Paris and is a part of the CAC Healthcare, CAC Pharma & Bio, and Next 150 indexes. It has three projects in development and two products authorised by the United States Food and Drug Administration (FDA).
Novartis International AG is among the world's biggest pharmaceutical companies. It has pioneered in developing innovative solutions for cancer, inflammatory conditions, and heart diseases. By using innovative digital technologies and science, the company aims to transform the medical sector. Its leading companies include Sandoz, Gyroscope Therapeutics, and Advanced Accelerator Applications. It employs 108,000 people in over 140 countries and generated net sales of USD 51,626 million in 2021.
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