North America holds a significant share of the overall dry eye disease industry owing to the increasing prevalence of dry eye disease in the region. Moreover, the robust healthcare sector is leading to a surge in the awareness of dry eye disease treatment, which is augmenting the market growth. The increasing research and development (R&D) activities initiated by various companies to develop innovative treatments of dry eye disease are significantly contributing to the industry growth. In addition, the increasing exposure to screens in the United States and Canada is surging the incidents of dry eye disease, which is fuelling the growth of the regional market. Apart from this, the Asia Pacific region is witnessing robust growth owing to the high prevalence of dry eye disease in countries such as Japan, which is augmenting the market growth. In addition, the increasing healthcare accessibility is providing further impetus to the market growth.
AbbVie Inc. (NYSE; ABBV), one of the leading companies in the market, launched REFRESH REPAIR Lubricant Eye Drops, the new over-the-counter (OTC) artificial tear formulation, in July 2018. The product is the first artificial tear in the United States formulated with carboxymethylcellulose (CMC), hydraulic acid, and osmoprotectants. The tears are designed to repair and protect the eyes from the harmful effects of dry eye while improving the clarity of vision. It offers additional options to tailor therapy while adhering to the specific needs of their patients. It also provides improved comfort for patients with dry eye to safeguard the health of epithelial cells and hyperosmotic stress. The development of such products for the treatment of dry eyes is expected to propel the market growth of dry eye disease treatment.
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The major players in the global dry eye disease treatment market are AbbVie Inc., Bausch and Lomb Incorporated, Johnson & Johnson Services, Inc., Santen Pharmaceutical Co., Ltd, and OASIS Medical, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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