Shire's lifitegrast will help boost market for dry eye treatment to $4.6 billion by 2024 - GlobalData

The global treatment market for dry eye syndrome will more than double in value to $4.6 billion by 2024 from about $2.2 billion in 2014, a 7.9% rise, according to research and consulting firm GlobalData.

According to a report by the company the rise, which will occur across the nine major markets of the USA, France, Germany, Italy, Spain, the UK, Japan, China, and India, will be driven primarily by the introduction of novel drugs, most notably Ireland-headquartered drugmaker Shire’s (LSE: SHP) lifitegrast, a drug with anti-inflammatory benefits.

Catherine Daly, senior analyst at GlobalData says, the paucity of dry eye syndrome treatments in the USA and European markets will allow Shire to secure strong uptake and a sizable market share for lifitegrast.