Dry eye is a chronic syndrome and is a progressive depending upon the cause and severity. It is a condition when a person does not have tears to lubricate his or her eyes. Tears are an essential part of maintaining good health of the eye and assist in providing good vision. The syndrome is commonly seen among older people and is becoming common among people spending a long time in front of the computer. The factors that can cause dry eye include age, medications, environmental conditions, long term use of contact lenses. The conditions cannot be cured completely; however, it can be managed by using medical products.
Allergan PLC (Abbvie), and Alcon (Novartis) – Notable Market Players in Dry Eye Products Market
Market leaders operating in the market have undertaken various organic growth strategies in the dry eye products market. The dry eye products market majorly consists of the players such as Novartis AG; Santen Pharmaceutical Co., Ltd; Johnson and Johnson Services, Inc; OASIS Medical; URSAPHARM Arzneimittel GmbH; ROHTO Pharmaceutical Co.,Ltd; OCuSOFT Inc; Bausch Health Companies Inc; AbbVie Inc; and Prestige Consumer Healthcare Inc. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the dry eye products market:
| Year | News |
| URSAPHARM Arzneimittel GmbH | URSAPHARM Arzneimittel GmbH has formed a partnership with Scope Eyecare. With the launch of the OPTASE HYLO range of dry eye products in the United States beginning in June 2021, the new partnership expands Scope’s Dry Eye Portfolio. |
| Apr-21 | OASIS Medical Inc launched its new patented cyber platform MY OASIS at SECO International 2021 in April 2021 |
| May-20 | AbbVie Inc. acquired Allergan plc as a part of company’s inorganic business strategy. The acquisition has provided the company access to and expand its business portfolio in the eye care associated markets. |
| Sep-21 | Bausch + Lomb Announces Statistically Significant Topline Results from the Second Phase 3 Trial of NOV03 (perfluorohexyloctane) in Dry Eye Disease with Meibomian Gland Dysfunction. |
| Jul-21 | TheraTears was acquired by Prestige Consumer Healthcare Inc. The acquisition of TheraTears added to Prestige’s leading eye care portfolio and provide the company with new long-term growth prospects. |
