At 5.6% CAGR, the APAC Eye Products Market is projected to be worth US$ 1,900.70 million by 2028, says Business Market Insights    

According to Business Market Insights’ research, the APAC eye products market was valued at US$ 1,298.49 million in 2021 and is expected to reach US$ 1,900.70 million by 2028, registering a CAGR of 5.6% from 2021 to 2028.  Advancement such as stem cell therapy and ongoing research and growing pipeline for dry eye products are the critical factors attributed to the market expansion.                                

The technologies are emerging based on stem cell therapy that can help in treating a dry eye condition. The aim is to prevent disease development, regeneration, and maintaining corneal transparency. Whereas most of the recent advances do not respond to conventional methods. Therefore, researchers prefer autologous or allogeneic serum drops, platelet-derived plasma products, and umbilical cord blood serum to study them as a treatment method. Additionally, the researchers are focusing on using cytokines and different cell sources such as mesenchymal stem cells more preferably to cure dry eye conditions. During the studies, it was found that mesenchymal cells assist in improving tear volume, tear-film stability, epithelial recovery, and the number of goblet cells. The cells help in decreasing the number of meibomian gland injuries in the conjunctiva, which is expected to be the most promising advancement for the dry eye condition treatment. The other stem cell therapy-based treatment is by using lubricin. Lubricin is a protein present in the tear film that allows lubrication in between eye surface and eyelid. The researchers are aiming to introduce proper treatment that can cure dry eye conditions completely. Thus, advancements in the healthcare industry that has allowed integration of biotechnology and pharmaceutical are likely to propel the market growth during the forecast period.

On the contrary, side effects caused due to eye drops hurdles the growth of APAC eye products market.   

Based on product, the APAC dry eye products market is segmented into artificial tears, antibiotic drops, hormone drops, and others. The artificial tears segment held 48.8% market share in 2021, amassing US$ 633.02 million. It is projected to garner US$ 907.97 million by 2028 to expand at 5.3% CAGR during 2021–2028. The artificial tears segment is further bifurcated into OTC artificial tears and prescription artificial tears.        

Based on type, the APAC dry eye products market is bifurcated into OTC drugs and prescription drugs. The OTC drugs segment held 55.1% market share in 2021, amassing US$ 715.28 million. It is projected to garner US$ 1,019.52 million by 2028 to expand at 5.2% CAGR during 2021–2028.   

Based on country, the APAC dry eye products market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of APAC. Our regional analysis states that Japan captured 26.4% market share in 2021. It was assessed at US$ 343.21 million in 2021 and is likely to hit US$ 520.55 million by 2028, exhibiting a CAGR of 6.1% during the forecast period.                 

Key players dominating the APAC dry eye products market are AbbVie Inc; Bausch Health Companies Inc.; Johnson and Johnson Services, Inc.; Novartis AG; OASIS Medical; OCuSOFT Inc.; Prestige Consumer Healthcare Inc.; ROHTO Pharmaceutical Co, Ltd.; Santen Pharmaceutical Co., Ltd.; and URSAPHARM Arzneimittel GmbH among others.             

• In Nov 2017, Santen Pharmaceutical Co., Ltd received its import drug license for its product Diquas Ophthalmic Solution (generic name: diquafosol sodium), for the dry eye treatment of patients in China. This approval has provided the company high potential for business growth in the region and country.    

• In Jan 2020, Santen Pharmaceutical Co., Ltd as a part of its business expansion in China has decided to construct its second plant for its Chinese subsidiary "Santen Pharmaceutical (China) Co., Ltd." to support the growing demand for products in China.

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