Global dry eye by the numbers

Image credit: AdobeStock/Chhayny/AI

Did you know that according to a research firm, the global dry eye disease market size is expected to reach $6.11 billion in 2024? That number is estimated to grow at a compounded annual growth rate (CAGR) of 4.09% to reach $7.46 billion by 2029 in the forecast period.¹ Another report corroborates these numbers, with the dry eye disease market valued at $6.45 billion in 2022 and expected growth at $9.54 billion in 2029 (CAGR, 5.74%).² In finance, CAGR is one of the most accurate ways to calculate and determine returns for anything that can rise or fall in value over time.¹

That $9.45 billion is a substantial number that we as eye care providers should pay special attention to.

In 2024, North America accounts for the largest dry eye disease market share. The Asia-Pacific region is estimated to grow at the second-highest CAGR over the forecast period (2024-2029).¹ Not surprisingly, pharmaceutical products are the drivers of the dry eye market.

However, one must consider adjunct therapies that include punctal plugs, imaging devices, and handheld examination and treatment tools that include lid margin expressors and debriders, tarsal gland and corneal imaging instruments, eyelid warming and hydration masks, and meibomian gland expression systems for office and home use. Additionally, lid margin cleaning tools and products, dry eye diagnostics for tear and eye redness analysis, corneal esthesiometers, point-of-care tear osmolarity testers, eyelid flippers, lid/eyelid margin viewers, and other gadgets are all used to diagnose, treat, and monitor dry eye.

Of course, we must not forget radio frequency and light or phototherapies (intense pulsed light, low-level red light, and infrared light). Interestingly, the market size of light therapy devices for home health care has been growing steadily, driven by increasing consumer interest in skin care technology and the convenience of home-based treatments. Although specific market figures may vary depending on the source and time frame of the data, the global home-based light therapy market size (ocular and other applications) is expected to reach $1.44 billion by 2030, expanding at a CAGR of 4.6% during the forecast period, based on a report by Grand View Research.³

Added to treating the signs and symptoms of dry eye and ocular surface disease (OSD), dysfunctional tear film and meibomian gland dysfunction, and blepharitis of bacterial, viral, parasitic, and fungal origin, we must consider the aesthetic benefits of treating disease in and around the eye, then beyond into the facial area. For example, ocular rosacea can manifest in multiple forms—ocular, papulopustular, erythematotelangiectatic, and phymatous—and management for ocular-driven symptoms can improve these and other disease expressions. Patient appreciation of cosmetic improvements cannot be underestimated.

Other areas of dollars invested or income generated derive from education for eye care professionals and the public. Such education on dry eye information includes the following:

• Attending medical conferences, symposia, and workshops
• Participating in continuing medical education programs
• Contributing resources to develop guidelines, conducting research, and organizing educational initiatives focused on dry eye (professional associations and organizations)
• Investing in educational initiatives targeting health care professionals and patients (pharmaceutical companies)

Finally, one must consider the OTC nutraceuticals, medical foods, and supplement and vitamin market dedicated to dry eye, tear health, and digital eye fatigue. The global market size for eye health supplements was valued at $1.5 billion in 2019 and is expected to expand at a CAGR of 6.1% from 2020 to 2027 ($2.4 billion is the global estimate for 2027).⁴ This quote includes supplements for other marketed eye diagnoses, including but not limited to macular degeneration, glaucoma, cataracts, and myopia. About 30% of this
supplement market is attributed to the dry eye market.⁴

With this information, consider the following questions: How does my practice tap into the growing dry eye market? What can my practice offer to my patient with dry eye? What, where, or whom can I add to cater to my patients with OSD? Find your dry eye path.

References:

1. Dry Eye Disease Market Size and Share Analysis: Growth Trends and Forecasts (2024-2029). Mordor Intelligence. Accessed June 18, 2024. https://www.mordorintelligence.com/industry-reports/dry-eye-disease-market

2. Dry Eye Disease Market: Industry Analysis and Forecast (2023-2029). Maximize Market Research. Accessed June 18, 2024.
   https://www.maximizemarketresearch.com/market-report/dry-eye-disease-market/36619/

3. Light therapy market worth $1.44 billion by 2030: CAGR 4.6%.
   News release. Grand View Research. February 2023. Accessed
   June 18, 2024. https://www.grandviewresearch.com/press-release/global-light-therapy-market

4. Eye Health Supplements Market Size, Share & Trends Analysis Report by Ingredient Type, by Indication (AMD, Cataract, Dry Eye Syndrome, Inflammation), by Formulation, by Region, and Segment Forecasts, 2020-2027. Grand View Research. GVR-4-680390148-0. Accessed June 18, 2024. https://www.grandviewresearch.com/industry-analysis/eye-health-supplements-market