Providers of dry eye therapies can expect to see healthy growth in revenues overall in the next five years as people suffering from dry eye increasingly seek treatment. Market Scope looks for manufacturers’ global revenues in the dry eye treatments market to climb from $4.6 billion in 2018 to $6.2 billion in 2023.
Dry eye is a common but widely underdiagnosed condition that often is exacerbated by modern lifestyles with lengthy computer screen use.
Market Scope forecasts that dry eye revenues will increase fastest in emerging markets due to more rapid growth of elderly populations, increasing wealth, and growing awareness of the availability of treatment in these markets.
The firm forecasts double-digit compound annual growth rates in China, India, Latin America, and the “Rest of World” category. Market Scope forecasts single-digit revenue growth in the US, Japan, Western Europe, and the Other Wealthy Nations category due to the higher base level of diagnosis and treatment options. Factors that will boost the market include more refined diagnostic tools that better identify the mechanisms behind a patient’s dry eye and newer treatment procedures.
Market Scope divides the dry eye market into three broad segments: procedures, over-the-counter (OTC) lubricants, and prescription pharmaceuticals. The firm forecasts moderate global growth in revenues from OTC lubricants and prescription pharmaceuticals, in a range averaging 4.3 percent to 4.5 percent a year, and a much higher cumulative annual growth rate of 21.4 percent in procedure revenues.
Nine competitors account for more than 80 percent of manufacturers’ dry eye revenues. Market Scope ranks them in three tiers. Allergan with Restasis is alone in the first tier. Four companies occupy the second tier with revenues from one-sixth to one-third of Allergan’s Restasis revenues: Alcon (with Systane, Tears Naturale, and Bion Tears), Shire (with Xiidra), Santen (with Hyalein, Diquas, and Ikervis), and Johnson & Johnson Vision (with LipiFlow). Four more companies with incomes from one-sixth to one-half of J&J Vision’s LipiFlow make up the third tier: Rohto, Prestige Brands, Sun Pharma, and Akorn.
Market Scope’s “2018 Dry Eye Products Report” features expanded and reorganized discussions of dry eye diagnostic devices, products, and treatment procedures. The new report includes more products and companies and features profiles of 13 new companies.
Market Scope’s “2018 Dry Eye Products Report” was published in December.