Fairfield Market Research, a leading market research firm, has recently published an extensive report on the global dry eye treatment devices market. The report provides valuable insights and growth forecasts for the period 2022-2030, highlighting the growing demand for effective dry eye disease treatment devices driven by an aging population and prolonged exposure to digital screens.
For more industry insights, read: https://www.fairfieldmarketresearch.com/report/dry-eye-disease-treatment-devices-market
Meibomian gland unblocking devices lead the market
The report reveals that the meibomian gland unblocking device segment leads the market. These devices play a crucial role in treating meibomian gland blockage, a common cause of dry eye condition. Optometrists’ steady demand for these devices accounts for their market dominance. Prominent products like Sight Sciences’ TearCare and Johnson & Johnson Vision’s LipiFlow Thermal Pulse System keep the market driven for blocking devices.
Wearables show lucrative potential
The report shows a promising growth outlook for the wearables segment, mainly attributing to their convenient usage. Continuous innovations in this segment further contribute to its attractiveness. The introduction of contact lenses as a treatment for corneal dryness has given an additional boost to the category, adding to its potential.
The evaporative application segment stores the lead
By application, the evaporative application segment maintains the lead due to higher prevalence of meibomian gland dysfunction (MGD). This segment continues to generate significant revenue, reaching USD 171 million in 2022. While adoption remains highest in hospitals, specialty eye care centers are estimated to exhibit the highest adoption potential during the forecast period.
North America dominates, Asia Pacific shows the fastest growth
The report highlights North America as the region is expected to continue its dominance in the dry eye treatment devices market. With an estimated CAGR of 5.5% between 2022 and 2030, the market in North America is projected to reach a revenue of US$ 146.5 million. Factors such as increasing elderly patient population, dramatic increase in the number of smartphone users, and higher prevalence of diabetes contribute to the growth of the market in this region.
Meanwhile, the report identifies Asia Pacific as the region with the highest market attractiveness and fastest growth. Poised for an impressive CAGR of 7.8% during 2022 to 2030, Asia Pacific is led by India, which experiences the fastest growing prevalence of dry eye disease patients. Asia Pacific’s key position in the global medical tourism industry will pave the way for the expansion of the dry eye treatment devices market in this region.
Major market players
The dry eye treatment devices market is moderately consolidated, with a few players holding significant revenue shares. Some of the major companies operating in this market include Alcon Vision LLC, Johnson and Johnson Services Inc., Lumenis Be Ltd, AbbVie Inc., ESW – Vision, Sight Sciences, Eyedetec Medical Inc., BlephEx, MiBo Medical Group and NuSight Medicals – NuLids LLC.
The report predicts that the global dry eye disease treatment devices market will surpass revenues of $327.1 million by the end of 2030, reflecting a healthy CAGR of 6%. This represents a significant expansion compared to the market estimate of $192 million in 2021.
Read more: https://www.globenewswire.com/en/news-release/2023/07/05/2699667/0/en/Dry-Eye-Disease-Treatment-Devices-Global-Industry-Report-2023-Global-Market- Income-to-achieve-over-US-327-Mn-in-2030.html