MARKET ANALYSIS

Dry eye disease diagnostic devices are medical tools designed to identify and assess the presence of dry eye disease in patients. This common condition is characterized by insufficient tear production or poor tear quality, leading to discomfort, irritation, and potential eye damage. Diagnostic devices play a crucial role in evaluating tear film stability, tear osmolarity, tear production rate, and ocular surface characteristics. These devices enable early detection, accurate diagnosis, and effective management of dry eye disease. From simple tests like the Schirmer test to advanced technologies such as tear film break-up time measurement devices, and ocular surface analyzers, the market for dry eye disease diagnostic devices is expected to grow due to increasing prevalence of dry eye disease, a rising number of individuals seeking eye care, and technological advancements facilitating precise and efficient diagnosis.

GROWTH DRIVERS AND CHALLENGES

Factors driving the growth of dry eye disease diagnostic devices are the increasing prevalence of dry eye disease, growing awareness and diagnostic rates, and technological advancements in diagnostic devices. However, the cost of diagnostics and the need for standardization.

The increasing prevalence of dry eye disease is boosting the market growth. Factors such as aging populations, increased screentime, environmental conditions, and lifestyle changes contribute to the growing incidence of dry eye disease, necessitating accurate and efficient diagnostic devices. Individuals are more aware of the symptoms and consequences of dry eye diseases, leading to increased diagnosis rates. As people seek early intervention and appropriate treatment, the demand for diagnostics devices risks. Advances in technology have introduced innovative diagnostics devices that offer improved accuracy, efficiency, and ease of use. Non-invasive techniques, portable devices, and the integration of artificial intelligence (AI) for data analysis have expanded the capabilities of dry eye disease diagnostics, enhancing dry eye disease diagnostic devices market growth. Thus, the increasing prevalence of dry eye disease is fueling the dry eye disease diagnostic devices market growth. The need for standardized diagnostic criteria and guidelines for dry eye disease can create challenges in the market. Variability in diagnostic techniques and interpretation of results across different devices and healthcare professionals can impact the consistency and reliability of diagnostic outcomes.

REPORT SEGMENTATION AND SCOPE

The "Global Dry Eye Disease Diagnostic Devices Market Analysis to 2031" is a specialized and in-depth study with a major focus on the global dry eye disease diagnostic devices market trends and growth opportunities. The report aims to provide an overview of the global dry eye disease diagnostic devices market with detailed market segmentation by device type, disease, end user, and geography. The global dry eye disease diagnostic devices market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the supply of dry eye disease diagnostic devices worldwide, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the dry eye disease diagnostic devices market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the dry eye disease diagnostic devices market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative dry eye disease diagnostic devices market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the global dry eye disease diagnostic devices market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global dry eye disease diagnostic devices market is segmented on the basis of device type, disease, and end user. Based on device type, the dry eye disease diagnostic devices market is segmented as, anterior segment OCT (AS-OCT), meibography device, corneal topographer, osmolarity testing device, ocular surface thermographer, interferometer, fluorophotometer, and others. On the basis of disease, the market is classified as evaporative dry eye syndrome and aqueous dry eye syndrome. The dry eye disease diagnostic devices market is categorized on the basis of end user into hospitals, diagnostic centers, ophthalmology centers/clinic, and others.

Based on device type, the meibography device accounted for a significant dry eye disease diagnostic devices market share, which can be attributed to its popularity across the globe and wide availability. The market for diagnostic devices to diagnose dry eye disease has been recomputationated by meibography. The value-grab opportunity for market stakeholders has been created by the large incidence of meibomian gland dysfunction among individuals. Therefore, meibography has become a preferred screening tool for MGD, allowing ophthalmologists to treat dry eye symptoms effectively. They are increasing the availability of mammography equipment so that clinical eye examinations using high-definition imaging technology can be performed more effectively. The doctors of the eye use meibography instruments, which allow them to diagnose with precision meibomian gland health. Besides meibography, eye doctors prefer computer-aided corneal topography and computer-aided cornea examination. This examination of the cornea. This inspection involves the projected illumination rings on the corneal surface, which are then returned to measure by the instrument. Dry eyes may affect corneal topography, increase symtomps such as burning sensation, itching, and related visual symptoms, and increase the availability of corneal topographers to play an important role in the preoperative conditions of candidates for refractive surgery.

REGIONAL ANALYSIS

The report provides a detailed overview of the global dry eye disease diagnostic devices market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The global diagnostic market for dry eye disease has been led by North America, followed by Europe. Several factors likely to stimulate the dry eye disease diagnostics market during the forecast period include the adoption of technically advanced diagnostic tests for dry eye disease, established healthcare expenditure, and a growing baby boomer population with an increased risk of being affected by these diseases. In this region, prevalence increases with age and is very common in the elderly population.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnerships, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global dry eye disease diagnostic devices market.

In March 2022, Johnson & Johnson Vision Care, Inc., a global leader in eye health and part of the Johnson & Johnson Medical Device Companies, announced that the U.S. Food and Drug Administration (FDA) had approved ACUVUE Theravisio with Ketotifen (etafilcon A drug-eluting contact lens with ketotifen). The 19 mcg ketotifen is contained in each lens. Ketotifen is known to be an effective antihistamine. Theravisio with ketotifen is the first in a completely novel class of contact lenses and brings new wear experiences for people who suffer from allergic eye itch.

In Sep 2022, TearLAB Corporation announced that under the new title TrukeraTM Medical, the company has expanded its position in corneal health diagnostics to become the leading global provider of point-of-care diagnostic tests for ophthalmology. The rebranding reflects the company's vision and future growth strategy, which aims at addressing an increasing number of unmet needs related to corneal health.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

In the first phase, cancellations of routine procedures, including diagnosis and eye treatment, due to supply chain disruption caused by medication around the globe harmed COVID-19's impact on the market for dry eye disease diagnostic devices. During the lockdown, people's screen time (irrespective of age) increased significantly, which had a severe impact, and an increase in ophthalmic disorders was observed. For example, in December 2019, The National Center for Biotechnology Information (NCBI) published a study showed that patients with dry eye disease and healthy subjects aged 60 years and older experienced worsening dry eye symptoms during the COVID-19 lockup due to increased visual display time. Furthermore, the study indicated that young people had a more severe dry eye condition than older respondents, particularly during lockdown. After reducing the restrictions this market has taken off. There has been a global rise in dry eye disease due to the pandemic. Therefore, market growth is projected to increase during the forecast period.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the dry eye disease diagnostic devices market include Johnson & Johnson Services, Inc., Oculus Optikgerate GmbH, Carl Zeiss Meditec AG, TearLab Corporation, Optovue, Inc., AXIM Biotechnologies, Topcon Corporation, Quantel Medical, Box Medical Solutions Inc., and Nidek Co. Ltd. among others.

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