Indian Dry-Eye Medication market size stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
India has the 32% prevalence of dry eye disease (DED), and based on symptoms 81% were severe DED. In India, the pharmaceutical ophthalmic market has grown from around 1400 crores INR in 2014 to 2200 crores INR in 2018. Dry eye disease with its multifactorial etiology impacts not only the vision but also imposes various limitations on the victim. The patient suffers with pain, low vitality and poor general health and experiences poor quality of life (QOL) comparable to medical conditions such as severe angina and those warranting hospital-based hemodialysis. The aging population, a rising number of contact lens users, and increase in disposable income, increase in number of treatment options and an increased number of allergies. The growth of this market include increasing awareness levels, rising diagnostic rates, better treatment options, etc.
The increased number of cases for dry eye disease results in the increased demand for its treatment. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke, and exposing one’s eyes to screens for long duration increase the occurrence of the dry eye disease. Prevalence of the aging population and the popularization of electronic products such as mobile phones and tablets, which have led to changes in eye use habits, it is expected that patients with dry eyes will still show a growth trend in the future. A rising number of contact lens users, increase in disposable income, increase in the number of treatment options and an increased number of allergies will boost the market growth. Going forward, rising laser surgeries, busy lifestyles, the increasing burden of diabetes, an increase in the prevalence of dry eye disease, the promising pipeline for dry eye disease, and the side effects of other medications will drive growth. Factors that could hinder the growth of the dry eye medication market in the future include long and costly drug approvals, stringent rules and regulations, and disruption in the supply chain of drugs related to dry eyes due to the impact of covid-19.