HAIKOU, China, Aug. 19, 2024 /PRNewswire/ -- China Pharma Holdings, Inc. (NYSE American: CPHI) ("China Pharma", or the "Company"), an NYSE American-listed corporation with a fully-integrated specialty pharmaceuticals subsidiary based in China, today announced that through Hainan Helpson Medical and Biotechnology Co., Ltd. ("Helpson"), our wholly owned subsidiary, it expects to launch its Dry Eye Disease Therapeutic Device in the first quarter of 2025 in China.
In China, the incidence of dry eye disease is about 21%-30%, second only to myopia. According to the National Bureau of Statistics of China, the total population of the country by the end of 2023 is about 1.4 billion, and the number of dry eye disease patients in China has approached 400 million. According to Inkwood Research, the Chinese dry eye disease market is projected at a CAGR of 6.04% during the forecast period of 2023-2030, and is expected to reach a market size of $579.51 million by 2030. This figure is expected to continue growing as people become increasingly dependent on electronic products and the aging problem intensifies.
Treatments for dry eye-related indications include two forms of secretagogues, oral and topical, which are widely recommended for first-line and second-line treatments. A major factor driving the segment's growth includes the awareness campaigns regarding dry eye diseases by vision science and optometry. Our device is embedded with an ophthalmic oxygen enriched atomization therapeutic instrument.
Using such technology, our device can spray tiny oxygen-rich droplets evenly into patient's eyes, thereby increasing the moisture and oxygen supply of the eye surface and improving the quality and stability of the tear fluid. This type of physical therapy avoids the side effects that may be brought about by drugs, and can also effect more directly on the eyes, improving the effectiveness and comfort of the treatment.
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. (NYSE American: CPHI) is a specialty pharmaceutical company that develops, manufactures, and markets a diversified portfolio of products, focusing on conditions with high incidence and high mortality rates in China, including cardiovascular, CNS, infectious, and digestive diseases. The Company's cost-effective business model is driven by market demand and supported by new GMP-certified product lines covering the major dosage forms. In addition, the Company has a broad and expanding nationwide distribution network across all major cities and provinces in China. The Company's wholly-owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., is located in Haikou City, Hainan Province. For more information about China Pharma Holdings, Inc., please visit www.chinapharmaholdings.com. The Company routinely posts important information on its website.
Safe Harbor Statement
Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: the achievability of financial guidance; success of new product development; unanticipated changes in product demand; increased competition; downturns in the Chinese economy; uncompetitive levels of research and development; and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations, except as required by applicable law or regulation.
