Dry Eye Treatment Devices Market Size, Share & Trends Analysis Report By Technology (MGX, Combination (MGX+IPL)), By End-use (Hospitals, Ophthalmic Clinics), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global dry eye treatment devices market size was valued at USD 223.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030. The rising demand for faster and non-invasive treatment approaches that provide long-term relief from dry eye symptoms is a key factor expected to drive the market. For instance, an intense pulsed light (IPL) per session last approximately 15-20 minutes, and 4-5 sessions are optimal to provide long terms relief from dry eye symptoms. Therefore, rising preference among patients that are unhappy and uncomfortable with frequent application of eye drops to alleviate dry eye symptoms is expected to fuel the market growth.

Increasing prevalence of dry eye syndrome and meibomian gland dysfunction (MGD) globally is anticipated to propel the growth of the market. Growing burden of dry eye can be attributed to 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. For instance, Americans are estimated to spend an average time of more than 10 hours a day at visual display terminals. The average screen time has always been increasing each year remarkably due to the expansion in the global internet network. COVID-19 is expected to negatively impact the market growth. Fewer hospital visits in this pandemic are expected to decrease the adoption of dry eye treatment devices. Moreover, since eyes act as one of the entrance points for the virus, a large number of ophthalmic treatments has decreased owing to the threat of the virus, thereby expected to hinder the market growth. 

The therapeutic landscape in the management of dry eye syndrome is changing drastically with eye care providers getting more inclined to treat the root cause of the disease than providing solutions for temporary relief. This phenomenon is anticipated to bode well for the market shortly. Moreover, the eye care providers are equipping their facilities with IPL and MGX treatment devices realizing the financial benefits of treating the patients at their office, then referring them to other centers. 

Several market players are focusing on various strategies including product launches, mergers and acquisitions, partnerships, and collaborations to build a strong market presence. For instance, in April 2022, Alcon introduced Systane iLux2 Meibomian Gland Dysfunction (MGD) thermal pulsation system for the treatment of dry eye. Additionally, in January 2020, ESW Vision supported an investigator-initiated clinical study held in New Zealand to evaluate the efficacy of IPL treatment in dry eyes.

The availability of alternative treatment, high cost of laser treatment, numerous contraindications associated with IPL, and lack of an efficient health insurance policy in several countries options are the factors limiting its adoption rate. For instance, the average treatment cost of intense pulsed light is approximately 700 USD, which is practically unaffordable for patients with low to middle-level income. 

Technology Insights 

The MGX segment accounted for the largest revenue share of over 40.0% in 2021. MGX is considered one of the efficient options in treating Meibomian Gland Dysfunction (MGD), one of the leading causes of dry eye disease. It helps in dealing with the blockage present around the meibomian gland and helps remove it by using equipment like forceps, warm compressors, and thermal pulsation systems. The frequent launches of technologically advanced products with high portability, enhanced patient comfort, and improved therapeutic efficacy are expected to propel the growth of this segment during the forecast period. For instance, Tearcare by Sight Sciences is a thermal pulsation system to treat evaporative dry eye. It is uniquely designed to facilitate open eye procedures, thus increasing patient comfort.

Intense Pulsed Light (IPL) is expected to expand at a healthy CAGR of 7.6% over the forecast period. The active measures undertaken by market players to reinforce their distribution network through collaborations and partnerships are anticipated to contribute to the segment growth. For instance, in April 2020, I-Med Pharma, a Canadian company specializing in dry eye management technologies, received distribution rights to sell E-Eye (IPL technology) by ESW Vision in Canada. 

A combination of intense pulsed light (IPL) and MGX technology is expected to register the fastest growth rate during the forecast period. Ongoing clinical trial studies to understand the effectiveness of this combined technology in treating dry eye disease are expected to contribute to the segment growth. 

Regional Insights 

North America held the largest revenue share of over 30.0% in 2021. The high prevalence of dry eye disease, increasing R&D expenditure, and the growing number of ophthalmology trade conferences and expos in the U.S. and Canada significantly contributed to the market growth. The prevalence of Dry Eye Diseases (DED) in the U.S. continues to grow at a rapid pace, creating an increased demand for advanced and effective therapies. According to an article, the prevalence of DED is approximately 6.8% of the adult population in the U.S. or around 16 million diagnosed cases. The prevalence is higher in females as compared to males. Nearly 60% of patient visits to eye care providers are due to DED. The increasing incidence of risk factors, such as systemic diseases (diabetes), high digital device usage, and a growing aging population, is anticipated to further increase the burden of DED in the U.S. 

Asia Pacific is expected to expand at the fastest rate of 8.1% during the forecast period. The presence of a large patient pool is expected to drive the demand for these devices. The burden of DED in China, Japan, and India is expected to contribute to the increase in the adoption of newer treatment options. To meet the growing demand, global players are looking to launch technologically advanced devices in the region. For instance, in September 2019, Lumenis announced that it received CFDA Mark for the commercial sale of its M22 Optima IPL in China for treating dry eye. Apart from China, the device is approved for use in South Korea, New Zealand, and Australia. 

Europe is expected to register a significant growth rate of 7.7% during the forecast period. The development of insurance policies, increasing prevalence of dry eye disease in the region, and growing product approvals for dry eye treatment are expected to contribute to the regional market growth. For instance, in May 2019, Quantel Medical, a medical laser and ultrasound technology company based in France, received CE approval for Lacrystim IPL, which is a dry eye treatment device. 

Key Companies & Market Share Insights 

Key companies are observed to initiate programs to increase awareness regarding advanced treatment technologies in dry eye syndrome among eye care providers to gain a competitive edge. In May 2020, Alcon launched an awareness program called “No Reason to Wait: Success Starts Now” to educate patients and professionals about the importance and benefits of treating the root cause of Meibomian Gland Dysfunction (MGD). This initiative is expected to boost the commercial sale of its dry eye treatment devices such as iLux and Systane. 

The market players are adopting various strategies such as mergers & acquisitions, new product development, joint ventures, and partnerships. For instance, in November 2019, Baring Private Equity Asia, a private investment firm in Asia, agreed to acquire Lumens for a transaction value of USD 2 billion. Some prominent players in the global dry eye treatment devices market include:

• MiBo Medical Group

• Sight Sciences

• Lumenis

• ESW Vision

• Johnson & Johnson Vision Care

• Alcon, Inc. 

Dry Eye Treatment Devices Market Report Scope

Global Dry Eye Treatment Devices Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global dry eye treatment devices market report on the basis of technology, end-use, and region:

• Technology Outlook (Volume, Units; Revenue, USD Million, 2017 - 2030)

  • Broadband light (BBL)

  • Intense Pulsed Light (IPL)

  • Meibomian Gland Expression (MGX)

  • Combination (MGX+IPL)

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Ophthalmic Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE