LONDON--(BUSINESS WIRE)--The global dry eye syndrome drugs market is expected to grow at a CAGR of close to 8% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global dry eye syndrome drugs market for 2017-2021. The market is further categorized into two product segments, comprising of over the counter (OTC) drugs and prescription drugs. The OTC drug segment accounted for more than 57% of the market share in 2016.
“Emerging economies such as India, China, and Brazil are some of the most attractive countries for pharmaceutical companies globally. Several factors are responsible for the high growth of the healthcare sector in these countries, which include a large population and lifestyle disorders such as obesity and diabetes. All these factors are expected to drive the market for dry eye syndrome drugs,” says Sapna Jha, a lead infectious and rare diseases research expert from Technavio.
Technavio’s research analysts segment the global dry eye syndrome drugs market into the following regions:
- Americas
- EMEA
- APAC
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Dry eye syndrome drugs market in Americas
The Americas holds the largest share of the dry eye syndrome drugs market. This is primarily due to the large investment in the healthcare sector in the US. The US is the major revenue generator in the region followed by Canada. Huge investments in the pharmaceutical industry, along with the presence of pharmaceutical giants, and high prevalence rate of dry eye disease are some of the major factors responsible for market growth in the Americas. High R&D investment is expected to introduce more treatment facilities and change the market landscape.
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Dry eye syndrome drugs market in EMEA
EMEA holds a significant portion of the global dry eye syndrome drugs market due to world-class healthcare infrastructure and facilities of European countries, especially the UK, Germany, France, Spain, and Italy. The growing geriatric population has led to the high incidence rate of various disorders in the region, dry eye disorder being one of them.
The Middle East and Africa are expected to drive the growth of the market in the region owing to recent advancements in the healthcare industry. The African region has been long deprived of basic healthcare facilities leading to high mortality rate from various diseases. However, today the region benefits due to substantial aid from government and non-government organizations. This is expected to boost the demand for dry eye syndrome drugs in the region.
Dry eye syndrome drugs market in APAC
APAC is expected to witness the highest CAGR owing to the growing cases of dry eye syndrome in countries such as China, India, and Japan. The markets in India, China, Japan, and other Asian countries are also expected to grow at a fast pace with the growing aging population in these countries.
“China has the world’s largest aging population owing to the huge population of the country and adoption of various population control measures undertaken by the country such as the earlier “one child per family policy.” Increasing aging population leads to an increase in the rate of risk factors for eye diseases, including dry eye syndrome, thereby boosting market growth,” says Sapna.
The top vendors in the global dry eye syndrome drugs market as highlighted in this market research analysis are:
- Allergan
- Novartis
- Otsuka Holdings
- Santen Pharmaceutical
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