Dry Eye Treatment Devices Market Demand Escalates Amid Increasing Aging Population
The global dry eye treatment devices market size is expected to reach USD 537.5 million by 2030, registering a CAGR of 7.6% from 2023 to 2030, 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 is expected to foster the market growth 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 the growth of the market. For instance, Americans are estimated to spend an average time of more than 10 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 market growth. The application of these advanced technologies in eye care is at a nascent stage in many countries, therefore clinical evidence is essential to increase provider confidence. Besides, clinical studies of these technologies are showing promising results in comparison with conventional treatment methods in dry eye treatment.
Gather more insights about the market drivers, restrains and growth of the Global Dry Eye Treatment Devices Market
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 fueling the growth of the market. For instance, the treatment of dry eye syndrome using intense pulsed light (IPL) is not covered under the NHS, a major provider of healthcare services in the U.K.
Dry Eye Treatment Devices Market Report Highlights
- The MGX technology held the largest market share 41.2% in 2022 owing to the factors such as frequent product launches, cost-effectiveness, and improving accessibility
- IPL and combination (MGX+IPL) technologies are is anticipated to register a CAGR of 7.6% over the forecast period due to the factors such as the development of economical and compact-sized IPL devices having versatility in treating skin tones of all types, which has boosted its installation rate in clinics and ophthalmic centers
- North America held the largest revenue share of 34.1% in 2022and is anticipated to maintain its dominance over the forecast period. This is attributed to the growing prevalence of dry eye disease, increasing R&D expenditure, and a large number of ophthalmology trade conferences and expos conducted in the U.S. and Canada
List of Key Players in the Dry Eye Treatment Devices Market
- MiBo Medical Group
- Sight Sciences
- Lumenis
- ESW Vision
- Johnson & Johnson Vision Care
- Alcon, Inc.
Order a free sample PDF of the Dry Eye Treatment Devices Market Intelligence Study, published by Grand View Research.
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