Dry Eye Treatment Devices Market to Witness a Pronounce Growth During 2021– 2028

 Dry Eye Treatment Devices Market Growth & Trends

The global dry eye treatment devices market size is estimated to reach USD 414.2 million by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.3% over the forecast period. The increasing demand for targeted, non-invasive, faster, and patient compliant treatment methods to alleviate dry eye symptoms are the factors expected to drive 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 market growth. The application of these advanced technologies in eye care is at a nascent stage in many countries, thereby clinical evidence is essential to increase provider confidence over its acceptance. Besides, clinical studies of these technologies are showing promising results in comparison with conventional treatment methods in dry eye treatment.

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 rendering the growth of the dry eye treatment devices 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 service in the U.K.

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Dry Eye Treatment Devices Market Report Highlights

• The MGX technology held the largest market share in 2020 owing to the factors such as frequent product launches, cost-effectiveness, and improving accessibility
• IPL and Combination (IPL+MGX) technologies are expected to grow at the fastest rate during the forecast period due to the factors such as the development of economical and compact-sized IPL devices having versatility in treating skin tone of all types have boosted its installation rate in clinics and ophthalmic centers
• North America held the largest market share in the market and is anticipated to maintain its dominance over the forecast period, attributable to the growing prevalence of dry eye disease, increasing R&D expenditure, and many ophthalmology trade conferences and expos conducted in the U.S. and Canada
• Some of the prominent companies are Lumenis; ESW Vision; Johnson & Johnson Services, Inc.; MiBo Medical Group; Alcon; and Sight Sciences

Dry Eye Treatment Devices Market Segmentation

Grand View Research has segmented the dry eye treatment devices market based on technology and region:

Dry Eye Treatment Devices Technology Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

• Broadband light (BBL)
• Intense Pulsed Light (IPL)
• Meibomian Gland Expression (MGX)
• Combination (MGX+IPL)

Dry Eye Treatment Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of the Dry Eye Treatment Devices Market

• MiBo Medical Group
• Sight Sciences
• Lumenis
• ESW Vision
• Johnson & Johnson Vision Care
• Alcon, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.