The dry eye syndrome (DES) market has been predicted to jump from $4bn in 2018 to $14.8bn in 2028 at a compound annual growth rate of 13.8% across the seven major markets, according to GlobalData research.
Pharmaceutical companies have taken advantage of market gaps by developing innovative DES treatments, including those which address the inflammatory components of DES, as well as stimulation of ocular surface wound healing and the cornea repair process.
Novaliq’s CyclASol product and Novaliq/Bausch + Lomb’s NOV-3 (perfluorohexyloctane) product are examples of novel treatments at the pre-registration stage with the US Food and Drug Administration, which have shown signs of significantly reduced corneal and conjunctival staining and improved ocular dryness.
Vinie Varkey, healthcare analyst at GlobalData, said that current treatment options for DES are dominated by a mix of prescription and over-the-counter products, however, current treatments in the US market have been plagued by common patient satisfaction issues, such as a non-favorable tolerability profile and a slow onset of action, spurring companies to develop therapies targeting this market gap.
‘If both of these therapies go on to win FDA approvals, Novaliq and Bausch + Lomb will likely be in a strong position to compete against the current market players. As late-stage therapies for DES progress through clinical development, physicians and patients within this space grow increasingly excited, particularly as late-stage clinical trials are able to validate the use of therapies with new mechanisms of actions,’ Varkey concluded.
