Canada Dry Eye Disease Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cyclosporine, Corticosteroids, Lifitegrast, Ocular Lubricant, Punctal Plugs, and Others), By Formulation Type (Liquid, Gel, Ointment, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Supermarket/Hypermarket, Other Stores, and Online Pharmacies), and Canada Dry Eye Disease Market Insights Forecasts 2023 - 2033.

Canada Dry Eye Disease Market Insights Forecasts to 2033

• The Canada Dry Eye Disease Market Size is Growing at 4.28% CAGR from 2023 to 2033.
• The Canada Dry Eye Disease Market Size is Expected to Reach a Significant Share by 2033.

The Canada Dry Eye Disease Market Size is expected to reach a significant share by 2033, growing at a 4.28% CAGR from 2023 to 2033.     

Market Overview

The Canada dry eye disease market is the market in Canada dedicated to the diagnosis, treatment, and management of dry eye disease (DED). This market consists of pharmaceuticals, medical devices, and therapeutic products intended to alleviate symptoms of eye irritation, redness, and discomfort resulting from inadequate tear production or defective tear quality. The Canada dry eye disease market offers promising growth prospects with an aging population, more screen time, and growing awareness. There is a growing demand for novel treatments such as artificial tears, prescription drugs, and biologics. Advanced drug formulations, digital health, and personalized therapy are opportunities that companies can leverage. Support from regulations for novel treatments and the growth of telemedicine services increases accessibility. Strategic alliances and R&D spending in anti-inflammatory and regenerative therapies can release important market potential, rendering Canada a strong location for innovation. Sun Pharma Canada introduced CEQUA, a cyclosporine ophthalmic solution, as a new dry eye disease treatment in Canada in January 2022. This launch opens up treatment possibilities for patients affected by this condition.

Report Coverage

This research report categorizes the market for the Canada dry eye disease market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada dry eye disease market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada dry eye disease market.

Driving Factors

The Canada dry eye disease market is fueled by various major drivers such as the high incidence of dry eye syndrome caused by the aging population and exposure to more screen time. The increased use of digital devices like smartphones, tablets, and computers has resulted in increased rates of eye strain and dryness, which is additionally driving demand for the market. Apart from these, air pollution and global warming are among the environmental issues causing an increased incidence of dry eye disease. The growing availability of therapeutic products for treatment, ranging from artificial tears and anti-inflammatory medicines to advanced new therapies such as regenerative medicine, also raised market size. More publicity and early diagnostic activities by medical societies have spurred the patients as well. The increasing demand for over-the-counter eye drops and prescription drugs has provided opportunities for pharmaceutical firms to innovate and increase their product offerings. Additionally, government policies and insurance coverage for eye care procedures favor market growth. With the increasing emphasis on eye health and advances in treatment technologies, the Canada dry eye disease market is likely to grow steadily over the next few years.

Restraining Factors

The Canada dry eye disease market is hindered by various restrictive factors, such as the expense of advanced treatments, limited availability of specialized eye treatment in rural communities, and inadequate patient awareness. Furthermore, aggressive regulatory clearances for novel drugs and adverse side effects of approved treatments hamper market expansion. Additionally, excessive dependence on prescription-free artificial tears rather than prescribed treatments constrain demand for cutting-edge solutions within the market.

Market Segment

• The ocular lubricant segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product type, the Canada dry eye disease market is divided into cyclosporine, corticosteroids, lifitegrast, ocular lubricant, punctal plugs, and others. Among these, the ocular lubricant segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is attributed to the high prevalence of dry eye disease, increasing geriatric population, and growing screen time-related eye strain. Rising preference for over-the-counter artificial tears, ongoing product innovations, and greater accessibility contributed to its growth, driving significant CAGR expansion during the forecast period.

• The gel segment accounted for the majority of the share in 2023 and is estimated to grow at a significant CAGR during the projected timeframe.

Based on the formulation type, the Canada dry eye disease market is divided into liquid, gel, ointment, and others. Among these, the gel segment accounted for the majority of the share in 2023 and is estimated to grow at a significant CAGR during the projected timeframe. The segmental growth is attributed to its longer-lasting relief, higher viscosity, and better retention on the ocular surface compared to liquid drops. Increasing preference for night-time use, rising cases of severe dry eye disease, and advancements in gel formulations are driving its significant CAGR growth during the forecast period.

• The hospital pharmacies segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the distribution channel, the Canada dry eye disease market is divided into hospital pharmacies, retail pharmacies, supermarket/hypermarket, other stores, and online pharmacies. Among these, the hospital pharmacies segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is attributed to the rising number of patient visits for dry eye treatment, increased prescriptions for advanced ocular lubricants, and better access to specialized medications. Growing hospital infrastructure and trust in professional recommendations are expected to drive its significant CAGR growth during the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada dry eye disease market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Santen Pharmaceutical Co. Ltd
• OASIS Medical
• Alcon Inc.
• Bausch Health Companies Inc.
• AbbVie Inc. (Allergan PLC)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Canada dry eye disease market based on the below-mentioned segments:

Canada Dry Eye Disease Market, By Product Type

• Cyclosporine
• Corticosteroids
• Lifitegrast
• Ocular Lubricant
• Punctal Plugs
• Others

Canada Dry Eye Disease Market, By Formulation Type

• Liquid
• Gel
• Ointment
• Others

Canada Dry Eye Disease Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Supermarket/Hypermarket
• Other Stores
• Online Pharmacies