The global dry eye disease treatment devices market is projected to grow at a CAGR of 6.1% during the forecast period. An increase in the prevalence of meibomian gland dysfunction, overuse of contact lenses and prolonged exposure to digital gadgets leading to dry eye symptoms, and a fast rising elderly patient pool susceptible to ocular diseases will drive the global market in the future.
Adroit Market Research report on global dry eye disease treatment devices market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global dry eye disease treatment devices market have been studied in detail.
Hundreds of millions of individuals suffer from dry eye disease (DED). Dry eye is a multifactorial illness of the ocular surface defined by a loss of tear film homeostasis and accompanied by ocular symptoms, in which tear film instability and hyperosmolarity, ocular surface inflammation and injury, and neurosensory abnormalities play etiological roles. Increased need for rapid, non-invasive treatment options that provide long-term relief from dry eye problems is projected to propel the dry eye treatment devices market. Increase in geriatric patient pool susceptible to ocular disorders will further fuel the growth of the market in the future.
The global dry eye disease treatment devices market has been segmented based on technology and region. Based on technology, the global dry eye disease treatment devices market is categorized into Broadband Light (BBL), Intense Pulsed Light (IPL), Meibomian Gland Expression (MGX), and Combination (MGX+IPL). Meibomian Gland Expression (MGX) segment held substantial share of the market in 2020. MGX is one of the most effective treatments for Meibomian Gland Dysfunction (MGD), one of the most common causes of dry eye syndrome. It aids in the removal of the obstruction around the meibomian gland. All these factors are anticipated to drive the growth of the segment in the coming years.
North America dominated the global dry eye disease treatment devices market in 2020. High adoption of modern digital technologies leading to dry eye diseases in adults and children in the U.S. and Canada is a key factor likely to drive the growth of the market in the next few years. For instance, 6 in 10 adults in the U.S. spend more than 5 hours a day on digital devices which contributes to dry eye symptoms. However, Asia Pacific dry eye disease treatment devices market is anticipated to grow at a rapid pace over the forecast period. Presence of large geriatric population, increase in disposable income, and high prevalence of ocular diseases will propel the global dry eye disease treatment devices in the region in the next few years.
Major players operating in the global dry eye disease treatment devices market include ESW Vision, Lumenis, Johnson & Johnson Vision Care, Alcon, Inc., MiBo Medical Group, and Sight Sciences among others.
Key Segments of the Global Dry Eye Disease Treatment Devices Market
Technology Overview, 2018-2028 (USD Million)
- Broadband Light (BBL)
- Intense Pulsed Light (IPL)
- Meibomian Gland Expression (MGX)
- Combination (MGX+IPL)
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa