A three-pronged approach was followed for deducing the dry eye syndrome treatment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for dry eye syndrome treatment market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of dry eye syndrome treatment market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The dry eye syndrome treatment market was categorized into seven segments, namely type (Evaporative Dry Eye Syndrome, Aqueous Deficient Dry Eye Syndrome ), drug (Restasis, Xiidra, Cequa, Eysuvis, Tyrvaya), product (Cyclosporine, Topical Corticosteroids, Artificial Tears, Punctal Plugs, Oral Omega Supplements), dosage form (Gels, Eye Solutions, Capsules & Tablets, Eye Drops, Ointments), sales channel (Prescription, OTC), distribution channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The dry eye syndrome treatment market was segmented into type, drug, product, dosage form, sales channel, distribution channel, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The dry eye syndrome treatment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; China; Japan; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The dry eye syndrome treatment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Novartis AG - Novartis AG works in three segments: innovative medicine, corporate, and Sandoz. Pharmaceuticals and oncology are the two main segments of new medicine. Novartis’ main therapeutic areas include cardiovascular, renal and metabolism, hepatology, immunology and dermatology, musculoskeletal disorders, neurology, ophthalmology, renal/nephrology, respiratory, cancer, and immuno-oncology. It has a presence in over 140 nations.
AbbVie Inc. - AbbVie Inc. works as a single worldwide business sector dedicated to the research and development, production, and marketing of treatments and medications. AbbVie’s product portfolio comprises medicines for a variety of ailments, including immunology, cancer, aesthetics, neurology, women’s health products, and biosimilars used to treat chronic inflammatory bowel disease. The company’s product line includes over 30 products that treat more than 60 different diseases. The company has 220+ research relationships in 175+ countries, as well as 14 production facilities, which allows it to diversify its operations internationally.
Sun Pharmaceutical Industries Ltd. - It is a generic and specialty pharmaceutical firm that develops and promotes pharmaceutical formulations and APIs in India and abroad. The firm provides treatment solutions in a variety of therapeutic areas, including neurology, cardiology, diabetology, urology, dermatology, gynaecology, orthopaedics, anti-infectives, cancer, dentistry, psychiatry, and nutrition.
Santen Pharmaceutical Co Ltd - It is a pharmaceutical company that specializes in eye care products. Its two primary business segments are prescription ophthalmic medications and others. Pharmaceuticals include over-the-counter (OTC) medications, while medical equipment is under the medical devices category. The prescription ophthalmic pharmaceuticals segment, which manufactures and distributes prescription and OTC drugs, contributes the majority of company's income. Santen’s revenue is mostly produced in Japan, with sales in other Asian countries following close behind.
AFT Pharmaceuticals - AFT Pharmaceuticals is a publicly traded worldwide pharmaceutical company that develops, promotes, and distributes a wide range of pharmaceutical products across several therapeutic areas. The company's product line consists of generic, branded, and patented medications, as well as proprietary and in-licensed goods. Its business model includes producing in-license items for sale by specialized sales teams in Australia, New Zealand, and some Southeast Asian regions, as well as out-licensing its products to local licensees and distributors in over 109 countries across the world.
Johnson & Johnson Services, Inc. - It manufactures pharmaceuticals, medical devices, and consumer healthcare products. The company is divided into three segments: consumer products, medical devices, and pharmaceuticals. The consumer product segment includes oral healthcare, baby, skin, & beauty products, and wound & eye care products. The medical devices segment offers cancer surgery, neurological & cardiovascular disease treatment, bariatric & metabolic surgeries, hernia repair, wound closure, gynaecology, and diabetes care products.
OASIS Medical - OASIS Medical is a privately held firm that offers cost-effective solutions to eye care practitioners, allowing them to provide high-quality patient care, improve practice management, and promote practice development. It supplies eye care physicians with high-quality surgical and dry eye solutions that can benefit patients with chronic conditions and improve their overall quality of life. The firm produces medical equipment such as dry eye solutions, ophthalmic surgical scalpels (Oasis TEARS), eyelid and lash washing products (Oasis LID & LASH), and iris expansion instruments for small pupils and floppy iris. The firm is the only distributor of Feather-branded scalpels, ophthalmic disposable devices, punctal plugs, and the MY OASIS platform.
Oyster Point Pharma, Inc. - It is a privately held clinical-stage biopharmaceutical company dedicated to discovering and commercializing first-in-class pharmacological therapies for the treatment of ocular surface disorders.
Bausch Health Companies Inc. - The firm develops, manufactures, and markets a variety of OTC, pharmaceutical, and medical device products, with a focus on the therapeutic areas of gastrointestinal, eye health, and dermatology. The firm operates in three segments: gastroenterology (Salix Pharmaceuticals), eye health (Bausch & Lomb), and dermatology (Ortho Dermatologics). It was previously known as Valeant Pharmaceuticals International, Inc. until changing its name to Bausch Health Companies, Inc.
Otsuka Pharmaceutical Co., Ltd - Otsuka Pharmaceutical Co., Ltd is a branch of Otsuka Holdings Co., Ltd. It is involved in the production, distribution, import, and export of various items including medical devices, clinical testing equipment, cosmetics, food products, pharmaceuticals, and other related goods. The company's pharmaceutical division offers products for a range of therapeutic areas such as central nervous system disorders, cancer, cardiovascular and renal diseases, eye conditions, and tuberculosis. It has manufacturing facilities and research centers in Japan. In addition, it works in partnership with research and development institutes in the U.S., Asia, and Europe. The company also has a pipeline of products for various pharmaceutical uses, including treatments for migraines, traumatic brain injuries, schizophrenia, bipolar disorder, and tumors.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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