The dry eye disease market size in Europe is expected to be worth USD 1.78 billion by 2028 from USD 1.39 billion in 2023, growing at a CAGR of 5.08% from 2023 to 2028.
The growing air pollution levels in Europe and the rising prevalence of chronic diseases particularly dry eye disease in Europe are key factors driving the growth of the European dry eye disease market. Approximately 10 to 30% of the European population is affected by this condition, characterized by inadequate lubrication in the eyes. Lifestyle changes and dietary factors contribute to the development of dry eye disease, leading to symptoms such as pain, redness, visual disturbance and ocular discomfort. Individuals with this condition often experience limitations in their daily activities, including reading, computer usage, and driving. Moreover, dry eye disease can be associated with chronic pain, stress, sleep disorders and depression. As a result, there is a growing demand for effective treatments to alleviate the symptoms of dry eye disease, stimulating market growth. Additionally, the increasing geriatric population in the European region further contributes to the expansion of the European dry eye disease market, as older individuals are more susceptible to this condition, with approximately one in three people aged 65 and above affected.
The growing awareness regarding dry eye disease among the European population contributes to the growth of the European dry eye disease market. The population of the European region is becoming more informed about the causes, prevention measures and treatment options for dry eye disease due to the growing number of people suffering from dry eye disease. Factors such as medication usage, certain diseases like diabetes and scleroderma, hormonal changes, pregnancy and the use of contact lenses are known to contribute to the development of dry eye disease. Moreover, governmental bodies and organizations conduct awareness programs to educate the public about available treatments for dry eye disease, further driving the European market growth.
The growing number of advancements in dry eye disease treatment promotes the growth of the European market. Researchers are dedicated to developing innovative drops and medications with different compositions to effectively address dry eye disease. They also focus on creating diverse product forms, including gels, liquid wipes, and eye ointments. Ongoing research and development efforts, increased product approvals and support from both the private and public sectors further favor the growth of the European market.
Factors such as the growing geriatric population in Europe who are more susceptible to dry eye disease, changing lifestyles and environmental factors leading to an increased incidence of dry eye disease, the availability of a wide range of treatment options and therapeutic products in the market, supportive government initiatives and policies promoting eye health and treatment of dry eye disease support the growth of the European dry eye disease market, The growing number of collaborations and partnerships between healthcare organizations, pharmaceutical companies and research institutions to develop new therapies and medications for dry eye disease and increasing adoption of digital devices and prolonged screen time leading to increased prevalence of dry eye disease further propel the European market growth.
Lack of awareness and underdiagnosis of dry eye disease among the European population, limited accessibility to healthcare facilities and specialized eye clinics in certain parts of Europe and high cost associated with diagnostic tests and treatment options for dry eye disease majorly hamper the growth of the European market. Limited reimbursement coverage for dry eye disease treatments by insurance providers, adverse side effects and limitations of existing treatment options and stringent regulations and lengthy approval processes for new dry eye disease medications and therapies hinder the dry eye disease market in Europe. The presence of alternative treatment options and home remedies that compete with pharmaceutical products, insufficient training and knowledge among healthcare professionals in diagnosing and managing dry eye disease and patient non-compliance with prescribed treatment regimens, impact treatment effectiveness and market growth in the European region.
This research report on the Europe dry eye disease market has been segmented and sub-segmented into the following categories.
By Type:
By Product:
By Distribution Channel:
By Country:
The European region held the second largest share of the global market in 2022 and is anticipated to hold a substantial share of the worldwide market during the forecast period owing to the increasing number of advancements in eye treatments and the rapidly growing pharmaceutical industry. The UK dry eye disease market had the major share of the European market in 2022 and is expected to register a healthy CAGR during the forecast period owing to the significant portion of the UK adult population experiencing dry eye disease. The availability of dry eye disease products in both online and offline pharmacies and e-commerce platforms drives the UK market growth.
Germany is another noteworthy regional market in Europe and is expected to capture a considerable share of the European market during the forecast period owing to the growing number of specialized eye clinics and hospitals, enhancing accessibility to dry eye disease treatments.
KEY MARKET PARTICIPANTS:
Novartis AG, Allergan plc, Santen Pharmaceutical Co., Ltd., Johnson & Johnson Vision and Alcon are some of the dominating players in the European dry eye disease market.
Frequently Asked Questions
The European dry eye disease market size is predicted to be valued at USD 1.39 billion in 2023.
The growing prevalence of dry eye disease cases, rising awareness about the condition, advancements in treatment options, and support from pharmaceutical companies and healthcare organizations majorly drive the European market growth.
Novartis AG, Allergan (now part of AbbVie Inc.), Santen Pharmaceutical Co., Ltd., Johnson & Johnson Vision, and Alcon (a division of Novartis AG) are some of the notable companies in the European dry eye disease market.
High treatment costs, limited access to advanced treatment options in certain regions, lack of awareness among the general population, and potential side effects or complications associated with certain treatment modalities are some of the major factors hampering the growth of the European market.
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