Global Dry Eye Syndrome Treatment Market Expected to Reach $11.26 Billion By 2030

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Sep 08, 2023, 08:45 ET

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PALM BEACH, Fla., Sept. 8, 2023 /PRNewswire/ -- The Global Dry Eye Syndrome market has been growing substantially in the past years and is expected to continue through 2030. Dry Eye Syndrome (DES) or Dry Eye Disease (DES), which is also called Keratoconjunctivitis Sicca (KCS), is a common ophthalmic condition that occurs when the person doesn't have enough quality tears to lubricate or nourish the eye. The symptoms include redness, stinging, scratching, or burning sensation, light sensitivity, watery eyes, and stringy mucus near the eye and blurry vision. As per an article published by the BMC Ophthalmology in February 2022, signs of eye dryness were reported in 5–30% of the elderly subjects, and the frequency of dry eye was 8.4% for those less than 60 years, 15% among 70-79 years, and 20% for patients over 80 years. Moreover, with increasing age, the ability of the lacrimal glands to produce tears decreases leading to this condition. The condition has also been more prevalent amongst postmenopausal women. A study was published by the National Library of Medicine in June 2021, in a group of 1947 perimenopausal and postmenopausal women, aged between 45 and 79 years, where the overall prevalence of DED symptoms was 79%, and was increasing significantly in postmenopausal women. These trends will lead to an increase in demand for therapeutic measures and contribute to the growth of the global market during the forecast period. A report from Fortune Business Insights projected that the global dry eye syndrome market size was valued at USD 6.61 billion in 2022 and is projected to grow from USD 7.02 billion in 2023 to USD 11.26 billion by 2030, exhibiting a CAGR of 7.0% during the forecast period. Active biotech companies in the markets this week include: OKYO Pharma Limited (NASDAQ: OKYO), Alcon (NYSE: ALC), Bausch + Lomb Corporation (NYSE: BLCO), Johnson & Johnson (NYSE: JNJ), Roche (OTCQX: RHHBY).

The Fortune Business Insights report said: "After the outbreak of COVID-19, several medical associations reported a spike in cases of dry eye due to continuous use of face masks among people. Also, as the incidence of other infectious diseases, especially air borne diseases grows, the adoption of masks is expected to continue in the forecast period. This prevailing trend will drive the adoption rate of these products leading to market growth during the forecast period (2030). One of the critical drivers that positively impacts the global market is the extensive increase in the global prevalence of this condition. The prevalence of this chronic condition varies with age. However, the prevalence is increasing in the young as well as the older population due to growing usage of screens, improper diet, growing use of contact lenses, and rise in the number of LASIK surgeries. Increase in the prevalence will propel the demand for more effective therapeutic measures for this disease, which will drive the dry eye syndrome market growth during the forecast period."

OKYO Pharma Limited (NASDAQ: OKYO) BREAKING NEWS: OKYO Pharma Completes Enrollment in Phase 2 Clinical Trial of OK-101 to treat Dry Eye Disease

Full enrollment achieved on September 6^th with a total of 240 patients enrolled in study
Top-line data planned for release in December 2023
Phase 2 trial is designed as a potential registration trial, with pre-specified primary efficacy endpoints covering both a sign and symptom of DED

OKYO Pharma Limited, a clinical stage biopharmaceutical company developing innovative therapies for the treatment of inflammatory dry eye disease ("DED), a multi-billion-dollar market, and for neuropathic corneal pain ("NCP"), a severe ocular condition with no FDA approved therapy, is pleased to announce that it has completed full enrollment of patients in the randomized portion of the Phase 2 multi-center, double-masked, placebo-controlled clinical trial of topical ocular OK-101 to treat DED. A total of 240 patients have been enrolled in the study.

"This trial began in May of this year, and we have been pleased with the rapid pace of enrollment in the trial which has been managed by our clinical development partner Ora Inc., a world leader in dry eye clinical research," said Gary S. Jacob, Ph.D., CEO of OKYO Pharma. "We now have 240 patients enrolled in the trial and are anticipating the last-patient last-visit to occur in the last week of November 2023, with the planned release of top-line data occurring in December 2023."

"The Phase 2 clinical trial is a crucial step in the development of OK-101, evaluating its safety, efficacy, and tolerability in the population of 240 DED patients comprising the study," said Raj Patil, Ph.D., CSO of OKYO Pharma. "We remain committed to establishing the potential of this drug to treat the many millions of people currently suffering from DED."

DED is a common condition that occurs when one's tears are unable to adequately lubricate the eyes. This condition affects approximately 49 million people in the United States alone and has been difficult to positively diagnose and treat due to the multifactorial nature of the condition. Several contributing factors can lead to this condition, including age, sex, certain medical conditions, reduced tear production and tear film dysfunction. Tear film instability typically leads to inflammation and damage to the ocular surface and pain. CONTINUED… Read this full release and more news for OKYO Pharma at: https://okyopharma.com/news/press-releases/

Other recent developments in the biotech industry include:

Alcon (NYSE: ALC), the global leader in eye care, recently reported its financial results for the three and six months ended June 30, 2023. For the second quarter of 2023, sales were $2.4 billion, an increase of 9% on a reported basis and 12% on a constant currency basis, as compared to the same quarter of the previous year. Alcon reported diluted earnings per share of $0.34 and core diluted earnings per share of $0.69 in the second quarter of 2023. David J. Endicott, Alcon's Chief Executive Officer, said, "Our robust second quarter results reflect the durability of our markets, the commercial excellence of our team and our unwavering focus on innovation."

Mr. Endicott continued, "By successfully executing our strategy around the world and across both franchises, we are further strengthening our leadership position in eye care, making us more resilient in a complex global economy and better positioned to seize new opportunities to advance patient care and deliver shareholder value."

Bausch + Lomb Corporation (NYSE: BLCO), a leading global eye health company dedicated to helping people see better to live better, recently announced that it has disclosed certain historical and pro forma financial information with respect to its proposed acquisition of XIIDRA (lifitegrast ophthalmic solution) 5% and certain other ophthalmology assets ("Acquisition") on a Current Report on Form 8-K and on its SEDAR+ (www.sedarplus.ca) profile. In connection with the Acquisition, as previously disclosed, Bausch + Lomb anticipates incurring indebtedness (expected to be comprised principally of an incremental term loan and the issuance of senior secured notes), which is discussed in further detail in its Current Report on Form 8-K.

Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey.

Johnson & Johnson (NYSE: JNJ) recently announced updates to its financials and 2023 guidance which reflect its operations as a company focused on transformational innovation in Pharmaceutical and MedTech. The Company has published a recorded webinar for investors to provide additional context behind the updated financials and 2023 guidance.

"The completion of this transaction uniquely positions Johnson & Johnson as a Pharmaceutical and MedTech company focused on delivering transformative healthcare solutions to patients," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "We are incredibly proud of the focus and dedication of our employees worldwide to achieve this milestone, which we are confident will unlock near- and long-term value for all of our stakeholders."

Roche (OTCQX: RHHBY) and Alnylam recently announced that the Phase 2 study KARDIA-1 of zilebesiran, an investigational RNAi therapeutic targeting liver-expressed angiotensinogen (AGT), met the primary endpoint. Zilebesiran demonstrated a clinically significant reduction in 24-hour mean systolic blood pressure (SBP) at month three, achieving a placebo-subtracted reduction greater than 15 mmHg with both 300 and 600 mg doses (p < 0.0001). The study also met key secondary endpoints showing consistent and sustained reductions of SBP at six months supporting quarterly or biannual dosing. In addition, the study showed that zilebesiran was associated with a potent and durable reduction of serum AGT levels through month six while demonstrating an encouraging safety and tolerability profile.

"These early results indicate the potential for zilebesiran to achieve sustained blood pressure reduction with quarterly or biannual dosing," said Levi Garraway, M.D., Ph.D., Roche's Chief Medical Officer and Head of Global Product Development. "Also, these data underscore the potential of this investigational medicine to provide transformative impact for many people living with uncontrolled hypertension.'' The Phase 2 trial KARDIA-1 is a randomized, double-blind, placebo-controlled, multi-centre global dose-ranging study designed to evaluate the efficacy and safety of zilebesiran as monotherapy in adults with mild-to-moderate hypertension. The study enrolled 394 adults representing a diverse patient population with untreated hypertension or who were on stable therapy with one or more anti-hypertensive medications (after a washout period).

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