The ocular drug delivery system market is experiencing optimistic market growth as a result of an increase in the global burden of the geriatric population, rising cases of various eye disorders and ophthalmic diseases such as cataracts, glaucoma, eye allergies, infections, and others, as well as increased clinical trials and product development activities in the ocular drug delivery systems arena around the world, which is expected to result in appreciable revenue growth.
LAS VEGAS, Feb. 9, 2023 /PRNewswire/ -- DelveInsight's Ocular Drug Delivery System Market Insights report provides the current and forecast market analysis, individual leading ocular drug delivery system companies' market shares, challenges, ocular drug delivery system market drivers, barriers, and trends, and key ocular drug delivery system companies in the market.
Key Takeaways from the Ocular Drug Delivery System Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global ocular drug delivery system market during the forecast period.
- Notable ocular drug delivery system companies such as Ocular Therapeutix Inc., Allergan plc., Santen Pharmaceutical Co. Ltd., Envisia Therapeutics, pSivida, Clearside Biomedical, Oculis Pharma, Valeant Pharmaceuticals, Aptar Group, Inc., Graybug Vision Inc., Alimera Sciences, Eyegate Pharma, Vision Ophthalmology Group GmbH, URSAPHARM Arzneimittel GmbH, AbbVie Inc., Taiwan Liposome Company, Ltd., Novartis, Amorphex Therapeutics, Eyenovia, Inc., iVeena Delivery Systems, and several others are currently operating in the ocular drug delivery system market.
- In December 2022, Eyenovia, Inc., a pre-commercial ophthalmic technology company developing the Optejet® delivery system for use in its own drug-device therapeutic programs for mydriasis, presbyopia, and pediatric progressive myopia, as well as out-licensing for additional indications, announced that the FDA has accepted for review the company's New Drug Application (NDA) for MydCombiTM ophthalmic spray.
- In August 2022,Outlook Therapeutics, Inc. announced that it had re-submitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for ONS-5010, an investigational ophthalmic therapy which, if approved, will be branded as LYTENAVA (bevacizumab-vikg) for the treatment of wet age-related macular degeneration (wet AMD).
To read more about the latest highlights related to the ocular drug delivery system market, get a snapshot of the key highlights entailed in the Global Ocular Drug Delivery System Market Report
Ocular Drug Delivery System Overview
The eye is a vital organ that can be harmed by a variety of diseases. These eye diseases can have a negative impact on the body and cause a person to lose their vision. As a result, there are numerous drug delivery systems are on the market to treat these eye diseases. There are a few ophthalmic drugs on the market due to the eye's effective protective mechanisms. Almost 70% of eye dosage formulations available on the market are eye drops and ointments. However, because these drops and ointments are drained from the ocular cavity by tear flow and lachrymal nasal drainage, novel, and advanced pharmaceutical ophthalmic formulations are entering the market. These formulations are available in the following forms: in-situ gel, microemulsion, nanoparticle, liposome, iontophoresis, nanosuspension, and ocular inserts.
Ocular Drug Delivery System Market Insights
North America dominated the global ocular drug delivery system market in 2021 and will continue to do so during the forecast period (2022-2027). This dominance is due to the growing geriatric population and to the rising prevalence of eye disorders such as cataracts, diabetic retinopathy, and others in North America. Along with the growing patient population associated with eye disorders, product development activities in North America are expected to boost demand for ocular drug delivery systems in the coming years. For instance, in December 2022, Eyenovia, Inc., a pre-commercial ophthalmic technology company developing the Optejet® delivery system for use in its own drug-device therapeutic programs for mydriasis, presbyopia, and pediatric progressive myopia, as well as out-licensing for additional indications, announced that the FDA has accepted for review the company's New Drug Application (NDA) for MydCombiTM ophthalmic spray.
To know more about why North America is leading the market growth in the ocular drug delivery system market, get a snapshot of the Ocular Drug Delivery System Market Outlook
Ocular Drug Delivery System Market Dynamics
One of the primary drivers of the global ocular drug delivery system market is the increasing prevalence of eye disorders such as cataracts and glaucoma, as well as refractive errors such as myopia and presbyopia. According to the World Health Organization (WHO) 2021, the prevalence of the population having near or distant vision impairment stands at a staggering 2.2 billion globally, with nearly half of the affected people preventable. As a result of the large patient pool associated with ophthalmic problems and vision impairments around the world, demand for ocular drug delivery systems is expected to rise significantly during the forecast period.
However, certain side effects associated with the use of eye drops, gels, ointments, complications in ocular surgeries, and others may restrain the growth of the ocular drug delivery system market.
Additionally, the COVID-19 pandemic moderately impacted the ocular drug delivery system market. During the early stages of the pandemic, the sale and distribution of various eye-related drugs were hampered by strict lockdown rules and disruptions in the manufacturing and supply of the drugs. Also, during the pandemic, COVID-19 patients were given priority in terms of diagnosis and treatment, which resulted in a decrease in the number of diagnoses and treatments for various ophthalmic conditions such as cataracts, dry eyes, glaucoma, macular degeneration, conjunctivitis, and others, which in turn resulted in a decrease in demand for ocular drug delivery systems, negatively impacting the ocular drug delivery system market growth.
However, with the relaxation of lockdown restrictions, an increase in resources and the supply chain, the administration of the vaccine to the public, and an increase in the number of ocular disease diagnoses, demand for ocular drug delivery systems increased and is expected to grow during the forecast period of 2022-2027.
Get a sneak peek at the ocular drug delivery system market dynamics @ Ocular Drug Delivery System Market Dynamics Analysis
Report Metrics | Details |
Coverage | Global |
Study Period | 2019-2027 |
Base Year | 2021 |
Ocular Drug Delivery System Market CAGR | ~7% |
Projected Ocular Drug Delivery System Market Size by 2027 | USD 22.3 Billion |
Key Ocular Drug Delivery System Companies | Ocular Therapeutix Inc., Allergan plc., Santen Pharmaceutical Co. Ltd., Envisia Therapeutics, pSivida, Clearside Biomedical, Oculis Pharma, Valeant Pharmaceuticals, Aptar Group, Inc., Graybug Vision Inc., Alimera Sciences, Eyegate Pharma, Vision Ophthalmology Group GmbH, URSAPHARM Arzneimittel GmbH, AbbVie Inc., Taiwan Liposome Company, Ltd., Novartis, Amorphex Therapeutics, Eyenovia, Inc., iVeena Delivery Systems, among others |
Ocular Drug Delivery System Market Assessment
- Ocular Drug Delivery System Market Segmentation
- Market Segmentation By Technology: Implantable, Particulate, and Others
- Market Segmentation By Indication: Glaucoma, Cataract, Dry Eyes, Eye Allergy, and Others
- Market Segmentation By Formulation: Solution-Based, Suspension Based, Emulsion-Based, Others
- Market Segmentation By Route of Administration: Topical, Intraocular, Intravitreal, Intracameral, And Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the ocular drug delivery system market are set to emerge as the trendsetter explore @ Ocular Drug Delivery System Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Ocular Drug Delivery System Market |
7 | Ocular Drug Delivery System Market Layout |
8 | Global Company Share Analysis - Key 3-5 Companies |
9 | Ocular Drug Delivery System Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
Interested in knowing the ocular drug delivery system market by 2027? Click to get a snapshot of the Ocular Drug Delivery System Market Trends
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