Report Overview

The South Korea dry eye syndrome therapeutics market size stood at around USD 155 million in 2019 and is projected to reach xx million by 2028, exhibiting a CAGR of around xx% during the forecast period.

Dry eye syndrome is a multifactorial disease of the tears and ocular surface. Medically known as keratoconjunctivitis sicca (KCS), is a term that defines the lack of lubrication or moisture on the surface of the infected persons eyes. It is a commonly occurring disease which can affect almost anyone. Various symptoms of dry eye include aching and burning sensations, sore eyes, red eyes, fatigued eyes, itchy eyes, photophobia, etc. The dry eye medication market consists of sales of dry eye medications or drugs to reduce eyelid inflammation, redness, cornea inflammation, and tear-stimulating drugs.

According to data from the Health Insurance Review & Assessment Service, the number of Korean patients suffering from dry eye syndrome, more than doubled between 2004 to 2014 (2.14 million).

Market Drivers

Increasing number of cases and increasing awareness are the primary market drivers. Factors such as aging, lack of vitamin A, wearing lenses, eye surgeries, direct contact with dry wind or smoke (pollution), and exposing ones eyes to screens for a long duration (smartphones, computers) increase the occurrence of dry eye more likely. Other drivers include demand for better treatment options, impact of other diseases like Diabetes, Sjogren's syndrome, Lupus Scleroderma and Rheumatoid arthritis.

The cumbersome process of obtaining approvals for new drugs takes a longer duration of time and restricts the growth of this market.