At 5.1% CAGR, Asia Pacific Dry Eye Products Market is Projected to be Worth US$ 1,641.84 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific dry eye products market was valued at US$ 1,101.46 million in 2023 and is expected to reach US$ 1,641.84 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Upsurge in geriatric population and ongoing research and growing pipeline for dry eye products are among the critical factors attributed to drive the Asia Pacific dry eye products market growth.

Dry eye syndrome is a common eye disorder affecting a substantial share of the population, especially those older than 50. Middle-aged and older adults are more common targets of this syndrome, which can be associated with the usage of contact lenses, the prevalence of autoimmune diseases, systemic drug effects, and refractive surgeries. The burden of dry eye syndrome would continue to surge due to increased life expectancy, along with the rising cases among the elderly population. According to the World Health Organization (WHO), the population aged 60 and above would increase from 1 billion in 2020 to 1.4 billion by 2030; the number is further likely to double and reach ~2 billion by 2050. The number of individuals aged 80 and above is expected to triple from 2020 to 2050 to reach 426 million. Thus, the demand for dry eye products such as artificial tears is increasing with the growing geriatric population worldwide.

On the contrary, side effects of eye drops and product recalls hamper the growth of Asia Pacific dry eye products market.

Based on product, the Asia Pacific dry eye products market is segmented into artificial tears, anti-inflammatory drugs, punctal plugs, secretagogues, oral omega supplements, and others. The artificial tears segment held 47.7% market share in 2023, amassing US$ 525.61 million. It is projected to garner US$ 793.34 million by 2031 to register 5.3% CAGR during 2023–2031. Furthermore, the anti-inflammatory drugs segment is subcategorized into cyclosporine, corticosteroid, and others. Additionally, the punctal plugs segment is subsegmented into dissolvable and removable.

In terms of dosage form, the Asia Pacific dry eye products market is segmented into eye drops, gel, capsules and tablets, and others. The eye drops segment held 64.6% share Asia Pacific dry eye products market in 2023, amassing US$ 711.79 million. It is anticipated to garner US$ 1,078.17 million by 2031 to expand at 5.3% CAGR during 2023–2031.

By type, the Asia Pacific dry eye products market is bifurcated into OTC and prescription. The OTC segment held 57.5% share of Asia Pacific dry eye products market in 2023, amassing US$ 633.07 million. It is projected to garner US$ 967.64 million by 2031 to expand at 5.4% CAGR from 2023 to 2031.

Based on distribution channel, the Asia Pacific dry eye products market is categorized into retail pharmacy, hospital pharmacy, and online pharmacy. The retail pharmacy segment held 46.1% share of Asia Pacific dry eye products market in 2023, amassing US$ 507.55 million. It is predicted to garner US$ 753.37 million by 2031 to expand at 5.1% CAGR between 2023 and 2031.

Based on country, the Asia Pacific dry eye products market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.4% share of Asia Pacific dry eye products market in 2023. It was assessed at US$ 301.56 million in 2023 and is likely to hit US$ 464.17 million by 2031, registering a CAGR of 5.5% during 2023–2031.

Key players operating in the Asia Pacific dry eye products market are Santen Pharmaceutical Co Ltd, Johnson & Johnson, OASIS Medical, URSAPHARM Arzneimittel GmbH, Rohto Pharmaceutical Co Ltd, OCuSOFT Inc, Bausch Health Companies Inc, AbbVie Inc, Prestige Consumer Healthcare Inc, Farmigea SpA, and Alcon AG, among others.

• In September 2023, Bausch + Lomb Corporation (“Bausch + Lomb”), a subsidiary of Bausch Health Companies Inc completed its acquisition of XIIDRA (lifitegrast ophthalmic solution) 5%, a non- steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease focusing on inflammation associated with dry eye, and certain other ophthalmology assets.
• In April 2021, MY OASIS is a cyber platform that allows eye care practitioners to grow their brand as a dry eye resource, broaden the reach of their practice, and provide access to solutions that can improve the quality of life for dry eye patients in their region. Its simple and intuitive design ensures a pleasant user experience.

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