SEATTLE–(BUSINESS WIRE)–According to Coherent Market Insights, the U.S. meibomian gland dysfunction market is estimated to be valued at US$ 1,976.6 million in 2020 and is expected to exhibit a CAGR of 15.4% during the forecast period (2020-2030).
Key Trends and Analysis of the U.S. Meibomian Gland Dysfunction Market:
Key trends in the market are the rising incidence of meibomian gland dysfunction syndrome, launch and approval of novel products, strategic collaborations and acquisitions by key players operating in the market, and research and development of innovative products.
According to a study published by the American Optometric Association in 2017, more than 16 million Americans-including twice as many women than men- were suffering from dry eye disease, and out of them around 70% of patients have meibomian gland dysfunction syndrome.
Launch and approval of novel products is expected to drive the market growth during the forecast period. For instance, In June 2020, I-MED Pharma Inc. launched I-DEFENCE, a long-lasting, lubricating dry eye ointment that delivers superior moisturizing and protection of the ocular surface.
In May 2019, RegeneRx reported that its U.S. joint venture partner and Pan Asian licensee, GtreeBNT was granted a new U.S. patent for a method of preventing or treating dry eye syndrome by administering Tβ4 with non-active ingredients to provide improved pharmacodynamics. Tβ4 is the active component of RGN-259, which is currently in separate phase 3 clinical trials for dry eye syndrome and neurotrophic keratitis. The expiry of this new patent is in the year 2035.
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For instance, in June 2019, AbbVie announced that the company had entered a definitive transaction agreement with Allergen, under which AbbVie acquired Allergan Plc., (Allergan). Allergan is a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world. The acquisition will help Abbvie to expand its product portfolio.
Furthermore, key players operating in the market are focusing on research and development of innovative products which is expected to drive the market growth during the forecast period.
Key Market Takeaways:
The U.S. meibomian gland dysfunction market is expected to expand at a CAGR of 15.4% during the forecast period owing to robust product pipeline for the treatment of meibomian gland dysfunction. For instance, in December 2019, Aldeyra Therapeutics, Inc., a biotechnology company announced positive results from its Phase 2b clinical trial of topical ocular reproxalap in patients with dry eye disease associated meibomian gland dysfunction syndrome. Reproxalap is a first-in-class therapy with a novel mechanism of action, with no significant side effects and a rapid onset of action.
Among drug type, the Cyclosporine segment is expected to hold a dominant position in the U.S. meibomian gland dysfunction market in 2020, owing to launch of novel products. For instance, in August 2018, Sun Pharma received approval for Cequa (cyclosporine ophthalmic solution) 0.09% from the U.S. FDA. The drug is indicated for increasing tear production in patients with dry eye disease. Cequa is the only approved cyclosporine product that incorporates nanomicellar technology and allows better penetration of active molecule into ocular tissues.
Among route of administration, topical segment is expected to hold dominant position in the U.S. meibomian gland dysfunction market in 2020 owing to easy availability of over-the-counter eye drops, eye ointments and artificial tear solutions for treatment of dry eye associated meibomian gland dysfunction.
Key players operating in the U.S. meibomian gland dysfunction market are Pfizer, Inc., AbbVie Inc., Johnson and Johnson Vision Care Inc., Bausch Health Companies Inc., Novartis AG, Santen Pharmaceutical Co., Ltd., I-MED Pharma Inc., OASIS Medical, Sentiss Pharma Pvt. Ltd., RegeneRx, and Akorn, Inc.
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U.S. Meibomian Gland Dysfunction Market, By Drug Type:
- Omega-3 supplements
- Antibacterial Eye Drops
- AZR MD 001
- TP 03
- NOV03 (Novatears)
- HY02 – Minocycline
U.S. Meibomian Gland Dysfunction Market, By Route of Administration:
U.S. Meibomian Gland Dysfunction Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.