As per the latest report by IMARC Group, titled “Dry Eye Syndrome Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 3.5 Billion in 2018. Dry eye syndrome, also known as keratoconjunctivitis sicca (KCS), refers to a condition in which the patient experiences a lack of lubrication or moisture on the surface of their eyes. The symptoms include aching and burning sensations, soreness, redness, fatigue, and itching in the eyes, along with photophobia. Moreover, watery eyes can also be a symptom of this condition as the dry eye surface can over-stimulate the production of the watery component of tears to reduce dryness.
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Global Dry Eye Syndrome Market Trends:
Reliance on electronic gadgets like computers and smartphones is one of the primary factors increasing the prevalence of dry eye syndrome. Prolonged usage of these devices results in strained eyes, diminished visual alertness, and mucosal dryness or burning sensation. Additionally, continuous staring at these devices can decrease the stability of the tear film and cause ocular discomfort. Apart from this, numerous diseases, such as diabetes, thyroid disorders, Sjogren’s syndrome, lupus, scleroderma and rheumatoid arthritis, increase the chances of developing dry eyes among patients. As per statistics, approximately 425-430 million individuals around the world get affected by diabetes. It causes constant changes in the composition of the patient’s blood, thereby adversely affecting their tear glands. On account of these factors, the market value is projected to reach US$ 5.1 Billion by 2024, expanding at a CAGR of around 6.5% during 2019-2024.
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Market Summary:
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