Lifitegrast Ophthalmic Solution Market: Overview
Lifitegrast, available under the trade name Xiidra is the first U.S. FDA approved drug for treating the signs and symptoms of dry eye syndrome. Dry eye syndrome, also referred to as dry eye disease is a chronic disorder, which is related to lack of tears in order to maintain sufficient moisture in the eye. The condition is either due to less production of tears or quick drying of tears in the eye. Across the world, over 300 million people are reckoned to be suffering from this condition.
Dry eye disease (DED) involves pain, redness, light sensitivity, blurred vision, burning, and inflammation. The primary factors for DED include dry environment, allergy, sun exposure, smoke exposure, heat or chemical burns, aging, previous surgery, contact lenses or infection. At present, there are several treatment approaches available for managing dry eye syndrome, which includes lubricant treatments, anti-inflammatory treatments, autologous serum eye drops, and surgery.
The report presents a comprehensive evaluation of the Xiidra market. This includes analyzing the historic and current performance of the market for future estimates of the growth trajectory of the market.
The assessment of the vendor landscape makes for an interesting read as analysts have not only mentioned the top players in the market but have also profiled them in detail. Vital aspects such as business overview, business strategies, product portfolio, financial standing, and recent developments have been taken into consideration to assess the performance of the top players during the forecast period. Using SWOT analysis, readers are provided a clear understanding of the indicators of strengths, weakness, opportunities, and threats of each of the company.
Lifitegrast Ophthalmic Solution Market: Drivers and Restraints
The rising prevalence of dry eye syndrome (DES) across the world is the primary factor attributable to the growth of the Lifitegrast ophthalmic solution market. Diabetes, rheumatoid arthritis, thyroid disorders, lupus, and vitamin A deficiency are some of the underpinning factors that are accounted for the increasing prevalence of dry eye syndrome.
Being the first to receive FDA approval for treating the sign as well as symptoms of DES, the Xiidra market is expected to rise exponentially in the near future. The increasing demand for advanced treatment options for DES is expected to be favorable for the growth of the Lifitegrast ophthalmic solution market. The rising geriatric population across the world that is prone to several health conditions also accounts for the high prevalence of dry eye syndrome as a secondary condition.
Dry eye syndrome was earlier not considered seriously as it did not affect everyday functioning. However, the rising awareness about the ill-effects of dry eye syndrome is expected to favor the market’s growth exponentially. Moreover, increasing awareness about the management of this condition is further assisting the market’s growth.
In present times, high level of pollution and rising industrialization is often an underlying factor for the rising prevalence of dry eye disease. However, with rising awareness about the diagnosis and treatment of the disorder will augment the growth of Xiidra market.
Despite the increasing prevalence of dry eye disease, the underdiagnosis of the condition is restraining the market’s growth. Moreover, the trend among patients to render self-medication remains a major restraint for the growth of the Xiidra market.
Major Companies Mentioned in Report
Some of the key players in the global market for dry eye syndrome include Novartis AG, Allergan Inc., Cellzome GmbH, NicOx SA, Bridge Pharma Inc., and Santen Pharmaceutical Co. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.