FinancialNewsMedia.com News Commentary

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).