Dry Eye Treatment Devices Market Size, Share & Trends Report

Dry Eye Treatment Devices Market Size, Share & Trends Analysis Report By Technology (Intense Pulsed Light, Broadband Light, Meibomian Gland Expression), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Sep, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-042-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 130

Report Overview

The global dry eye treatment devices market size was valued at USD 248.5 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027. Rising demand for a faster and non-invasive treatment approach that provides long-term relief from dry eye symptoms is the factor expected to drive the market for dry eye treatment devices. For instance, an Intense Pulsed Light (IPL) per session last approximately for 15-20 minutes, and 4-5 session are optimal to provide long terms relief from dry eye symptoms. Therefore, it is getting popular among patients unhappy and uncomfortable with a frequent application of eye drops to alleviate dry eye symptoms. The increasing prevalence of dry eye syndrome and Meibomian Gland Dysfunction (MGD) globally is anticipated to propel the growth of the market for dry eye treatment devices.

The U.S. dry eye treatment devices market size

The 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, the Americans are estimated to spend an average time of more than 10 hours a day at visual display terminals. The average time spent has always been increasing each year remarkably due to the expansion in the global internet network.

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 reliefs. This phenomenon is anticipated to bode well for the market for dry eye treatment devices in the near future. Moreover, the eye care providers are equipping their facilities with IPL and MGX treatment devices realizing the financial benefits of treating the patient at their office, then referring them to other centers.

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 USD 700.0, which is practically unfordable for patients with low to middle-level income.

Technology Insights

The Meibomian Gland Expression (MGX) segment accounted for the largest revenue share of 41.4% in 2019 in the market for dry eye treatment devices. MGX is considered as 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 in removing it by using equipment like forceps, warm compressors, and thermal pulsation systems. The frequent launches of technologically advanced products with high portability enhanced patient comforts and improved therapeutic efficacy is 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 procedure increasing patient comfort.

IPL is expected to witness a healthy CAGR of 6.4% over the forecast period. The active measures undertaken by market players to reinforce their distribution network through collaboration and partnership are anticipated to contribute to the growth of the market for dry eye treatment devices. 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.

Global dry eye treatment devices market share

A combination of IPL and MGX technology is expected to experience 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 is expected to contribute toward segment growth.

Regional Insights

North America dominated the dry eye treatment devices market and accounted for the largest revenue share of 34.2% in 2019. 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 contributed significantly to the growth of the market for dry eye treatment devices in the region. 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 published in the NCBI, the prevalence of DED is approximately 6.8% of the adult population in the U.S. or around 16.0 million diagnosed cases. The prevalence is higher in females as compared to males. Nearly 60.0% 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.

In Europe, the market for dry eye treatment devices is expected to experience a significant growth rate of 6.5% during the forecast period. The development of insurance policy, increasing prevalence of dry eye disease in the region, and growing approvals for dry eye treatment devices are expected to contribute to the region’s 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, it’s a dry eye treatment device.

In the Asia Pacific, the market for dry eye treatment devices is expected to grow at the fastest rate of 6.9% 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, Lumen announced that had received CFDA Mark for 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.

Key Companies & Market Share Insights

Key companies initiate programs to increase awareness about advanced dry eye treatment devices 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 a 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 and acquisitions, new product development, joint ventures, and partnerships. For instance, In November 2019, Baring Private Equity Asia, a private investment firm in Asia has agreed to acquire Lumens for a transaction value of USD 2.0 billion. Some of the prominent players in the dry eye treatment devices market include:

  • MiBo Medical Group

  • Alcon

  • Sight Sciences

Dry Eye Treatment Devices Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 260.0 million

Revenue forecast in 2027

USD 400.8 million

Growth Rate

CAGR of 6.4% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

The U.S.; Canada; The U.K.; Germany; France; Italy; Spain; India; Japan; China; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Lumenis; ESW Vision; Johnson & Johnson Services, Inc.; MiBo Medical Group; Alcon; Sight Sciences

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global dry eye treatment devices market report on the basis of technology and region:

  • Technology Outlook (Revenue, USD Million, 2016 - 2027)

    • Broadband light (BBL)

    • Intense Pulsed Light (IPL)

    • Meibomian Gland Expression (MGX)

    • Combination (MGX+IPL)

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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