Dry Eye Treatment Devices Market Size, Share & Trends Report

Dry Eye Treatment Devices Market Size, Share & Trends Analysis Report By Technology (Broadband Light (BBL), Intense Pulsed Light (IPL), Meibomian Gland Expression (MGX), Combination (MGX+IPL)) And Segment Forecasts, 2021 - 2028

  • Published Date: Jan, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-042-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 130

Report Overview

The global dry eye treatment devices market size was valued at USD 257.4 million in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028. The rising demand for faster and non-invasive treatment approaches that provide long-term relief from dry eye symptoms is the factor expected to drive the growth of the market for dry eye treatment devices. For instance, an intense pulsed light (IPL) per session last approximately 15-20 minutes, and 4-5 session are optimal to provide long terms relief from dry eye symptoms. Therefore, its rising preference in patients unhappy and uncomfortable with 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 market growth.

U.S. dry eye treatment devices market size, by technology, 2016 - 2028 (USD Million)

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, 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 dry eye treatment devices market. 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 reliefs. 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 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, which is practically unfordable for patients with low to middle-level income.

Technology Insights

The MGX segment accounted for the largest revenue share of 41.4% in 2020. 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 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 comforts 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 increasing patient comfort.

Intense Pulsed Light is expected to expand at a healthy CAGR of 6.3% 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 its growing market share. 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, by technology, 2020 (%)

A combination of intense pulsed light (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 are expected to contribute toward the segment growth.

Regional Insights

North America led the market with the largest revenue share of 33.9% in 2020. 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 North America’s leading market share. 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 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 CAGR of 7.8% 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 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’s dry eye devices market is expected to experience a significant growth rate of 6.3% during the forecast period. The development of insurance policy, increasing prevalence of dry eye disease in the region, and growing product approvals for dry eye treatment 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.

Key Companies & Market Share Insights

The key players that dominated the global market in 2020 include Lumenis; ESW Vision; Johnson & Johnson Services, Inc. These companies are observed to initiate programs to increase awareness about advanced treatment technologies in dry ye 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 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 & acquisitions, new product development, joint ventures, and partnerships. For instance, In November 2019, Baring Private Equity Asia, a private investment firm in Asia have agreed to acquire Lumens for a transaction value of USD 2 billion. Some of the prominent players operating in the 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

Report Attribute

Details

Market size value in 2021

USD 270.5 million

Revenue forecast in 2028

USD 414.2 million

Growth Rate

CAGR of 6.3% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million, volume in units, and CAGR from 2021 to 2028

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

U.S.; Canada; 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 2028. For this study, Grand View Research has segmented the global dry eye treatment devices market report based on technology and region:

  • Technology Outlook (Volume, Units; Revenue in USD Million, 2016 - 2028)

    • Broadband light (BBL)

    • Intense Pulsed Light (IPL)

    • Meibomian Gland Expression (MGX)

    • Combination (MGX+IPL)

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • 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

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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