Dry Eye Treatment Devices Market Growth & Trends
The global dry eye treatment devices market size is estimated to reach USD 400.8 million by 2027, expanding at a CAGR of 6.4%, according to a new report by Grand View Research, Inc. The increasing demand for targeted, non-invasive, faster, and patient compliant treatment methods to alleviate dry eye symptoms are the factors expected to drive the market during the forecast period.
The rising incidence of causative risk factors such as over usage of contact lenses, prolonged exposure to digital screens, diabetes, glaucoma, and Sjogren’s syndrome globally is anticipated to propel market growth. For instance, the Americans are estimated to spend an average time of more than 10.0 hours a day at visual display terminals.
The increasing number of clinical and research activities conducted to evaluate the safety and efficacy of advanced dry eye treatment devices such as IPL and BBL will boost the growth of the market. As the application of these advanced technologies in eye care is at a nascent stage in many countries, thereby clinical evidence is essential to increase provider confidence over its acceptance. Besides, clinical studies of these technologies are showing promising results in comparison with conventional methods to treat dry eye syndrome.
The availability of alternative treatment, high cost of IPL/BBL treatment, numerous contraindications associated with IPL, and lack of an efficient health insurance policy in several countries are the factors rendering the growth of the market. For instance, the treatment of dry eye syndrome using IPL is not covered under the NHS, a major provider of healthcare service in the U.K.
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Dry Eye Treatment Devices Market Report Highlights
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The Meibomian Gland Expression (MGX) technology held the largest market share in 2019 owing to the factors such as frequent product launches, cost-effectiveness, and improving accessibility
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IPL and Combination (IPL+MGX) technologies are expected to grow at the fastest rate during the forecast period due to the factors such as the development of economical and compact-sized IPL devices having versatility in treating skin tone of all types
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In Asia Pacific, the market is expected to grow at the fastest rate of 6.9% during the forecast period
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North America held the largest market share in 2019 and is anticipated to maintain its dominance over the forecast period
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This is attributable to the growing prevalence of dry eye disease, increasing R&D expenditure, and many ophthalmology trade conferences and expos conducted in the U.S. and Canada.
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Dry Eye Treatment Devices Market Segmentation
Grand View Research has segmented the global dry eye treatment devices market on the basis of technology and region:
Dry Eye Treatment Devices Technology Outlook (Revenue, USD Million, 2016 – 2027)
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Broadband light (BBL)
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Intense Pulsed Light (IPL)
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Meibomian Gland Expression (MGX)
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Combination (MGX+IPL)
Dry Eye Treatment Devices Regional Outlook (Revenue, USD Million, 2016 – 2027)
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North America
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The U.S.
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Canada
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Europe
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Germany
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The U.K.
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France
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Italy
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Spain
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Asia Pacific
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China
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Japan
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India
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Thailand
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
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List of Key Players of Dry Eye Treatment Devices Market
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MiBo Medical Group
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Alcon
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Sight Sciences
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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