Market Dynamics
South Korea is no stranger to dry eye syndrome (DES). A chronic disorder which occurs when the eyes cannot produce enough tears, or even worse– the tears that are produced are of such low quality that they evaporate quickly, resulting in dryness and irritation. According to a study, 1 in 10 Koreans of all ages suffer from DES. This is a surprisingly high occurrence rate compared to other countries. In 2018, more attention was paid to this condition, leading to increased demand for dry eye syndrome treatments. The South Korean dry eye market is seeing increased attention from both governmental and private sectors. In 2018, the South Korean government announced a plan to increase resources for dry eye syndrome treatment and research, including providing subsidies to research institutes for the development of treatments. This is in addition to the implementation of standardization guidelines for DES diagnosis and tests, along with the installation of healthcare infrastructures and the drainage/refining of artificial tear solutions. The government's actions will lead to an increase in the research and development of treatment methods, such as eye drops, eye lids massage machines, eyeglasses, surgical procedures, and electro-stimulation.
The market is expected to see growth in the increasing availability of these treatment methods, as well as in growing demand for DES drugs and medical devices, such as diagnostic devices and lasers. The demand for more effective treatments to relieve the symptoms of DES will also bring attention to the importance of preventive measures. As a result, public awareness campaigns, educational initiatives, and lifestyle modifications are expected to become important components of the market. In order to prevent the onset and recurrence of this condition, eye specialists will increasingly recommend dietary changes, such as reducing intake of spicy foods and beverages. By following these preventive measures and implementing lifestyle changes, the market is expected to experience more favorable growth in the upcoming years. In conclusion, the South Korean dry eye syndrome market will experience considerable growth in demand from 2018 to 2032, owing to increased attention from both the government and private sectors. With the implementation of preventive measures, lifestyle changes, and new treatments, this market is expected to see more favorable growth in the coming years.
