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Increasing Research and Collaborations in the $2,920 Million Dry Eye Medication Market, TBRC Report Suggests

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The Business Research Company

May 28, 2020, 11:30 ET

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LONDON, May 28, 2020 /PRNewswire/ -- In the historic period, the dry eye medications market witnessed a rise in the number of research collaborations as well as research funding approvals. Companies in the market are expected to increase their research and development (R&D) expenditure to develop innovative and novel therapies to treat dry eye disorders. For instance, in November 2017, an Israeli-Australian company, Azura Ophthalmics, raised $16 million for the research and development of its new treatment of meibomian gland dysfunction, a common eye condition caused due to the lack of secretion of oil by the meibomian glands. It is a leading cause of dry eye syndrome. The funding came from Brandon Capital, TPG Biotech, OrbiMed, and Ganot Capital. In September 2017, HanAll Biopharma Co., Ltd., a subsidiary of South Korea-based Daewoong Pharmaceutical Co., Ltd., announced its collaboration with China's Harbour BioMed to research and develop HanAll's two novel biologics in Greater China. One of the biologics is the HL036, an anti-TNF ophthalmic solution devised for the treatment of dry eyes and other inflammatory diseases.

Read More On The Business Research Company's Dry Eye Medication Market Report:

https://www.thebusinessresearchcompany.com/report/dry-eye-medication-global-market-report

Global Expansion And Acquisitions In The Market

Another trend in the dry eye medication market is that companies in the market are increasing their investments in the developing regions of South America, Africa, and Asia, to capitalize on untapped market opportunities. For example, in January 2019, Takeda Pharmaceutical, a Japan-based pharmaceutical company specialized in manufacturing, research and development of pharmaceutical drugs such as oncology, gastrointestinal, and central nervous system disease, acquired Shire Plc for £46 billion ($59 billion). The acquisition helped Takeda Pharmaceutical to become a global, R&D driven biopharmaceutical leader. Shire Plc is a biotechnology company that specializes in developing products in areas such as hematology, immunology, ophthalmics, gastrointestinal, internal medicine endocrine and oncology.

New Product Development In The Market

There has been a significant rise in new drugs and medications to treat symptoms and disorders related to dry eyes in the last five years. Ophthalmology drug companies are increasingly investing in research and development for new and innovative dry eye medications. For instance, Eleven Biotherapeutics is working towards the development of potential protein therapeutics to treat dry-eye diseases. The company's EBI-005, which is currently in its late-stage clinical development, is intended to treat dry-eye disease and allergic conjunctivitis. It is expected to achieve a significant improvement in ocular itching, tearing and nasal symptoms associated with the disorder. In July 2016, the US Food and Drug Administration (FDA) approved Xiidra's LFA-1 eye drops, the country's first prescription drug to treat dry eyes, after being tested on more than 1,000 adults in four separate clinical trials.

Request A Free Sample Of The Dry Eye Medication Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=2529&type=smp

Promising Pipeline for Dry Eye Disease Drugs

The global dry eye medication market will grow from $3,727.5 million in 2019 to $5,047.9 million in 2023 at a compound annual growth rate (CAGR) of 7.9%. Promising drugs under pipeline is expected to boost the dry eye disease market in the forecast period. There are several drugs that are being studied in Phase 3 trials for dry eye treatment such as reproxalap (Alderya Therapeutics), tanfanercept (HanAll BioPharma), tivanisiran (Sylentis), Loteprednol etabonate (Kala Pharma), timbetasin (Regenerx) and NOV03 (Bausch + Lomb). Among the most promising drugs, Kala Pharma plans to file the Loteprednol etabonate (KPI-121) by second quarter 2020 with the U.S Food and Drug Administration (FDA), based on the STRIDE 3 trial results. KPI-121 0.25% is developed by utilizing the AMPPLIFY mucus-penetrating particle (MPP) drug delivery technology for the treatment of dry eye. Loteprednol etabonate (KPI-121) met both the primary efficacy endpoints in Phase 3 (Stride 3) trial. Upon review and approval by the USFDA, the drug may be available for commercialization soon.

Here Is A List Of Similar Reports By The Business Research Company:

Ophthalmology Drugs Market - By Type (Antglaucoma Drugs, Dry Eye Medication And Other Ophthalmological Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies/ Drug Stores And Others), By Drug Classification (Branded Drugs And Generic Drugs), By Mode Of Purchase (Prescription-Based Drugs, Over-The-Counter Drugs) And By Regional Analysis | Global Forecast To 2023

Ophthalmic Devices Global Market Report 2020-30: Covid 19 Impact And Recovery

The World's Most Comprehensive Database

The Business Research Company's Global Market Model analyzes all the above data and more. It is the world's most comprehensive database of integrated market information. This market intelligence platform covers various macroeconomic indicators and metrics across 60 geographies and 27 industries.

Interested to know more about The Business Research Company?

The Business Research Company has published over 1,000 industry reports, covering over 2,500 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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