U.S. Meibomian Gland Dysfunction Market, By Drug Type (Cyclosporine, Omega-3 supplements, Antibacterial Eye Drops, Steroids, AZR MD 001, TP 03, NOV03 (Novatears), and HY02–Minocycline), By Route of Administration (Oral and Topical), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), 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), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on launching innovative products for the treatment of meibomian gland dysfunction syndrome, which is expected to drive the market growth during the forecast period.
For instance, in November 2017, TearScience, a part of Johnson and Johnson Vision Care Inc., launched LipiScan and LipiFlow technologies at the American Academy of Ophthalmology’s 2017 meeting. The technologies are used to treat meibomian gland dysfunction (MGD), a cause of dry eye disease.
In July 2018, Allergan Plc., now a subsidiary of Abbvie Inc., launched REFRESH REPAIR Lubricant Eye Drops, an over-the-counter (OTC) artificial tear formulation. The product is designed to repair and protect the eyes from the harmful effects of dry eye and improve clarity of vision.
In September 2019, OASIS Medical launched Oasis TEARS VISION and Oasis TEARS OMEGA 3, a new line of dietary supplements at Vision Expo West in Las Vegas on September 19th 2019.
U.S. Meibomian Gland Dysfunction Market – Impact of Coronavirus (COVID-19) Pandemic
Key players operating in the market have a robust product pipeline for treatment of dry eye associated meibomian gland dysfunction. The players are focusing on changes in clinical enrollment studies associated with the COVID-19, which will help to complete the clinical trials on time. For instance, in March 2020, RegeneRx, a clinical-stage drug development company announced that GtreeBNT, its Korean partner in the U.S. for development of RGN-259 for the treatment of dry eye disease, issued an update on the status of the company’s U.S. phase 3 dry eye clinical trial.
The GtreeBNT team met with the contract research organization (CRO) managing the ARISE-3 trial, to discuss any changes or projected changes in enrollment associated with the COVID-19 virus. They are also developing contingency plans based on future developments or restrictions enacted by the U.S. and/or World Health Organization. Thus, there have been no major disruptions or delays in ARISE-3 trial and, if modifications are needed in the clinical plan due to COVID-19, GtreeBNT will notify its stockholders immediately through the GtreeBNT web-site.
Moreover, the increasing ophthalmic manifestations due to the coronavirus (COVID-19) are expected to drive demand for ophthalmic preparations. For instance, in April 2020, the National Centers for Biotechnological Information published results of a study which showed that since December 2019, COVID-19 has become a global pandemic caused by the highly transmissible severe acute respiratory syndrome coronavirus. There have been several reports of eye redness and irritation in COVID-19 patients, both anecdotal and published, suggesting that conjunctivitis may be an ocular manifestation of the SARS-CoV-2 infection.
Browse 9 Market Data Tables and 21 Figures spread through 132 Pages and in-depth TOC on “Meibomian Gland Dysfunction Market”- U.S. Forecast to 2030, By Drug Type (Cyclosporine, Omega-3 supplements, Antibacterial Eye Drops, Steroids, AZR MD 001, TP 03, NOV03 (Novatears), and HY02 – Minocycline), By Route of Administration (Oral and Topical), and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies).
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Key players operating in the market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations in order to increase their presence and expand their product portfolio. For instance, in December 2019, Bausch Health Companies Inc. and Novaliq GmbH, a pharmaceutical company focusing on first- and best-in-class ocular therapeutics, announced that Bausch Health had acquired an exclusive license for commercialization and development of the investigational treatment, NOV03 (perfluorohexyloctane), a first-in-class investigational drug with a novel mechanism of action to treat dry eye disease associated with Meibomian gland dysfunction, in the U.S. and Canada.
Key Takeaways of the U.S. Meibomian Gland Dysfunction Market: