Europe Dry Eye Product Market Developments and Forecast by 2027

The Europe Dry Eye Product market is expected to reach US$ 2631.70 million by 2027 from US$ 1868.93 million in 2019. The market is estimated to grow with a CAGR of 4.6 % from 2020 to 2027.

Dry eye is a chronic syndrome that develops progressively and gets severe with time. It is a condition when a person has scarcity of tears to lubricate his or her eyes. Tears are an essential part of eyes for maintaining good health of the eye and helps in providing good and clear vision. The syndrome is commonly seen among geriatric population and is becoming common among people spending long hours in front of the computer and mobile screens. The reasons that cause dry eye include age, medications, environmental conditions, long term use of contact lenses and accessories. The conditions cannot be cured completely; however, it can be managed by using medical products.

The incidence of dry eye is commonly seen in older people of age 65 and above. The number of geriatric population is increasing rapidly across the world.  Various healthcare companies design their products by focusing on geriatric population. As the degeneration process among older people is much faster, they are highly prevalent to dry eye conditions. Therefore, the high prevalence of dry eye among older population is likely to promote manufacturers to introduce new dry eye products in the market, which, in turn, contributes to the growth of the market.

The development in the healthcare industry has enabled to offer various hi tech healthcare facilities that have allowed offering increased life expectancy. Countries across the world are adopting new techniques to treat older people safely and effectively.

In Europe, countries like Italy, Spain, France, and the UK were highly affected by the COVID–19 pandemic. On the other hand, countries such as Russia, Germany, Switzerland were other countries, which were affected moderate to severe. According to the European Centre for Disease Prevention and Control, as of July 2020, 203 542 deaths have been registered due to COVID–19. Therefore, there has been a great shift towards supplying products to prevent the spread of COVID–19 infection. Various ophthalmic companies have been contributing their funds as COVID–19 relief fund. For instance, the European Commission has granted ~US$ 195 million (€166 million) through its European Innovation Council (EIC) Accelerator Pilot. In the initiative, 36 companies have participated in the recovery plan for Europe. In addition, companies are individually contributing their help to fight against COVID–19 pandemic. For instance, in Spain, the Bausch Foundation has increased its supply of Artelac Splash eye drops in local hospitals as a part of the donation. The eye drops are used for treating dry eye conditions. Thus, the shift from the production of ophthalmic products companies is manufacturing personal protective equipment, which is expected to hinder the dry eye products market in the following years.

Europe Dry Eye Product Market revenue and forecast to 2027:

Europe Dry Eye Product MARKET SEGMENTATION

By Product

• Artificial Tears
• Antibiotic drops
• Hormone drops
• Others

By Type

• OTC Drugs
• Prescription Drugs

By Geography

• Europe
• Germany
• UK
• France
• Spain
• italy

Company Profiles

• Novartis AG
• Johnson And Johnson Services Inc.
• Santen Pharmaceuticals CO. Ltd
• OASIS Medical
• Abbvie Inc.

Europe Dry Eye Product Report Scope