Europe Dry Eye Disease Market Forecast 2024-2032

Europe Dry Eye Disease Market Forecast 2024-2032

The Europe dry eye disease market is projected to grow at a CAGR of 4.70% during the forecast period from 2024 to 2032. The market was valued at $1686.02 million in 2023, reaching a revenue of $2569.11 million by 2032.

MARKET INSIGHTS

The Europe dry eye disease market is set for consistent growth, driven by the aging population, increasing demand for dry eye disease treatment, and technological advancements in diagnostic and therapeutic products. Also, the region’s dry eye disease market is characterized by the rising prevalence of dry eye disease across various age groups, influenced by lifestyle changes such as increased screen time and exposure to environmental pollutants.

REGIONAL ANALYSIS

The Europe dry eye disease market growth assessment comprises the analysis of the United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe. In the United Kingdom, increasing awareness of dry eye disease and growing government support are expected to drive market growth. The National Health Service (NHS) provides eye screening programs and helpline services for dry eye treatment. Additionally, ongoing research on dry eye disease in the UK further enhances growth prospects. In France, market expansion is driven by a growing number of treatment options and an increasing patient population.

Additionally, the growing geriatric population is a significant factor, as older individuals are more susceptible to conditions that impact tear production, leading to higher rates of dry eye disease. The rise in conditions like diabetes and autoimmune diseases, which are common dry eye disease causes, also contributes to the expanding patient base. Furthermore, heightened awareness about dry eye disease diagnosis and the availability of more advanced treatment options are pushing the demand for dry eye disease treatment products across the region.

Advancements in therapeutic and diagnostic products are enhancing the treatment of dry eye disease. The introduction of innovative dry eye disease treatment drugs and products, such as artificial tears, lubricants, and anti-inflammatory treatments, is improving patient outcomes. Moreover, the demand for dry eye disease treatment devices is rising as technological innovations in tear production and management devices continue to emerge.

SEGMENTATION ANALYSIS

The Europe dry eye disease market segmentation includes distribution channel, type, dosage, and product. The distribution channel segment is further divided into hospital pharmacies, online pharmacies/stores, and independent pharmacies and drugstores.

Retail pharmacies are independent establishments licensed to provide medications to the public. Over-the-counter (OTC) products form a key part of this distribution channel, making retail pharmacies a popular one-stop destination for these medications. The cost of OTC drugs at retail pharmacies is typically lower than those found in hospital pharmacies, providing an additional incentive for consumers to choose independent outlets.

Moreover, the retail pharmacy industry offers a seamless omnichannel experience, including home delivery services. There is also a growing trend towards in-home pharmacy services, as consumers prioritize convenience and explore digital-first pharmacy options, particularly in the wake of COVID-19. Many drugstores and small pharmacies are shifting from traditional models to technology-enabled ones, moving from in-person pickups to delivery services, which is expected to boost the growth of independent pharmacies.

Additionally, the increasing prevalence of dry eye disease is leading to more hospital visits, driving the demand for dry eye disease medications through hospital pharmacies. Pharmacists generally collaborate with other pharmacies to source supplies; however, in Eastern Europe, wholesalers are the main suppliers of pharmaceuticals. In contrast, in Western Europe, hospital pharmacists often procure supplies directly from manufacturers.

COMPETITIVE INSIGHTS

Some of the eminent market players in the Europe dry eye disease market are Santen Pharmaceutical Co Ltd, Novartis AG, Oasis Medical, etc.

Novartis AG is a Swiss-American multinational pharmaceutical company specializing in products for gene and cell therapies, as well as treatments for cancer, metabolic, and cardiovascular conditions. Its product portfolio includes biosimilars, generic medicines, vision care products, and ophthalmic pharmaceuticals.

The company has a global presence, operating in regions such as the Middle East & Africa, the Americas, Europe, and Asia-Pacific, with its headquarters located in Basel, Switzerland. One of its notable products, Xiidra® (lifitegrast ophthalmic solution) 5%, is the only prescription treatment approved to address the symptoms and signs of dry eye disease by inhibiting inflammation associated with the condition.KEY FINDINGS The Europe dry eye disease market is projected to grow at a CAGR of 4.70% during the forecast period from 2024 to 2032. The market was valued at $1686.02 million in 2023, reaching a revenue of $2569.11 million by 2032. MARKET INSIGHTS The Europe dry eye disease market is set for consistent growth, driven by the aging population, increasing demand for dry eye disease treatment, and technological advancements in diagnostic and therapeutic products. Also, the region’s dry eye disease market is characterized by the rising prevalence of dry eye disease across various age groups, influenced by lifestyle changes such as increased screen time and exposure to environmental pollutants. REGIONAL ANALYSIS The Europe dry eye disease market growth assessment comprises the analysis of the United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe. In the United Kingdom, increasing awareness of dry eye disease and growing government support are expected to drive market growth. The National Health Service (NHS) provides eye screening programs and helpline services for dry eye treatment. Additionally, ongoing research on dry eye disease in the UK further enhances growth prospects. In France, market expansion is driven by a growing number of treatment options and an increasing patient population. Additionally, the growing geriatric population is a significant factor, as older individuals are more susceptible to conditions that impact tear production, leading to higher rates of dry eye disease. The rise in conditions like diabetes and autoimmune diseases, which are common dry eye disease causes, also contributes to the expanding patient base. Furthermore, heightened awareness about dry eye disease diagnosis and the availability of more advanced treatment options are pushing the demand for dry eye disease treatment products across the region. Advancements in therapeutic and diagnostic products are enhancing the treatment of dry eye disease. The introduction of innovative dry eye disease treatment drugs and products, such as artificial tears, lubricants, and anti-inflammatory treatments, is improving patient outcomes. Moreover, the demand for dry eye disease treatment devices is rising as technological innovations in tear production and management devices continue to emerge. SEGMENTATION ANALYSIS The Europe dry eye disease market segmentation includes distribution channel, type, dosage, and product. The distribution channel segment is further divided into hospital pharmacies, online pharmacies/stores, and independent pharmacies and drugstores. Retail pharmacies are independent establishments licensed to provide medications to the public. Over-the-counter (OTC) products form a key part of this distribution channel, making retail pharmacies a popular one-stop destination for these medications. The cost of OTC drugs at retail pharmacies is typically lower than those found in hospital pharmacies, providing an additional incentive for consumers to choose independent outlets. Moreover, the retail pharmacy industry offers a seamless omnichannel experience, including home delivery services. There is also a growing trend towards in-home pharmacy services, as consumers prioritize convenience and explore digital-first pharmacy options, particularly in the wake of COVID-19. Many drugstores and small pharmacies are shifting from traditional models to technology-enabled ones, moving from in-person pickups to delivery services, which is expected to boost the growth of independent pharmacies. Additionally, the increasing prevalence of dry eye disease is leading to more hospital visits, driving the demand for dry eye disease medications through hospital pharmacies. Pharmacists generally collaborate with other pharmacies to source supplies; however, in Eastern Europe, wholesalers are the main suppliers of pharmaceuticals. In contrast, in Western Europe, hospital pharmacists often procure supplies directly from manufacturers. COMPETITIVE INSIGHTS Some of the eminent market players in the Europe dry eye disease market are Santen Pharmaceutical Co Ltd, Novartis AG, Oasis Medical, etc. Novartis AG is a Swiss-American multinational pharmaceutical company specializing in products for gene and cell therapies, as well as treatments for cancer, metabolic, and cardiovascular conditions. Its product portfolio includes biosimilars, generic medicines, vision care products, and ophthalmic pharmaceuticals. The company has a global presence, operating in regions such as the Middle East & Africa, the Americas, Europe, and Asia-Pacific, with its headquarters located in Basel, Switzerland. One of its notable products, Xiidra® (lifitegrast ophthalmic solution) 5%, is the only prescription treatment approved to address the symptoms and signs of dry eye disease by inhibiting inflammation associated with the condition.

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