The ocular drug delivery market was valued for $67.7 billion in 2022 and is estimated to reach $115.5 billion by 2032, exhibiting a CAGR of 5.5% from 2023 to 2032. The targeted delivery of pharmaceuticals and therapeutic agents to the eye is known as ocular drug delivery. This delivery system aims to treat different eye diseases and ailments by efficiently and effectively delivering medications to the targeted areas of the eye, such as the cornea, conjunctiva, or retina. This drug delivery system is essential to effectively treat illnesses like glaucoma, age-related macular degeneration, dry eye disease, and others. A variety of techniques are used in ocular drug delivery, such as eye drops, ointments, implants, inserts, and cutting-edge technologies including intravitreal injections and in-situ gels.
The ocular drug delivery market growth is driven by increase in the incidences of ocular diseases, rise in aging population, and surge in development of new technologies for ocular drug delivery. Surge in aging population and shift in lifestyles are the major risk factors that contribute to the increased prevalence of eye disorders such as glaucoma, age-related macular degeneration (AMD), and others. The risk of getting age-related macular degeneration rises with the aging population. For instance, according to National Center for Biotechnology Information (NCBI) 2022, about 200 million people are estimated to have AMD and by 2040, this number is expected to reach 300 million. Thus, there is an increase in need for efficient drug delivery systems that can offer consistent and focused delivery of drugs to treat these illnesses.
Furthermore, continuous technical advancements to improve ocular drug delivery strategies are also driving the market growth. These developments are intended to enhance the effectiveness, accuracy, and patient experience while administering drugs to the eyes. For instance, sustained-release intraocular implants, such as the ILUVIEN, which deliver fluocinolone acetonide and dexamethasone, respectively, have become recognized as ground-breaking technologies. These implants ensure stable drug levels in the eye and minimize the need for frequent eye drops by releasing medication gradually over an extended period of time.
In addition, increase in R&D activities and reduced side effects of drugs due to use of advanced drug delivery technologies boost the market growth. However, stringent regulatory guidelines for the drug approvals limit the growth of the ocular drug delivery market. Furthermore, high cost associated with new drug development is financially challenging for pharmaceutical companies and limit their ability to invest in innovation and develop new ocular drug delivery formulation thereby impacting the market growth. Further, shift of patient preference towards the non-invasive treatments due to ease of administration and improved compliance also drives the demand for eye drops, eye ointments, and other formulations. For instance, according to National Centers for Biotechnology Information (NCBI), topical eye drop is the most convenient and highly preferred route of drug administration.
The ocular drug delivery market is segmented on the basis of technology, formulation type, disease indication, end user, and region. On the basis of technology, the market is classified into topical, ocular insert, intraocular implants, in-situ gels, and others. As per formulation type, the market is categorized into solution, emulsion, suspension, ointment, and others. On the basis of disease indication, the market is segmented into glaucoma, diabetic retinopathy, dry eye syndrome, age related macular degeneration, and others. On the basis of end use the market is divided into hospitals, ophthalmic clinics, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global ocular drug delivery market are Ocular Therapeutix, Inc., EyePoint Pharmaceuticals, Inc., Clearside Biomedical, Santen Pharmaceutical Co., Ltd., Abbvie Inc., Novaliq GmbH, Bausch & Lomb, Alimera Sciences, Inc., Nicox, and Kiora Pharmaceuticals, Inc. Key players operating in the market have adopted product approval and collaboration as their key strategies to expand their market share and product portfolio.
The ocular drug delivery market growth is driven by increase in the incidences of ocular diseases, rise in aging population, and surge in development of new technologies for ocular drug delivery. Surge in aging population and shift in lifestyles are the major risk factors that contribute to the increased prevalence of eye disorders such as glaucoma, age-related macular degeneration (AMD), and others. The risk of getting age-related macular degeneration rises with the aging population. For instance, according to National Center for Biotechnology Information (NCBI) 2022, about 200 million people are estimated to have AMD and by 2040, this number is expected to reach 300 million. Thus, there is an increase in need for efficient drug delivery systems that can offer consistent and focused delivery of drugs to treat these illnesses.
Furthermore, continuous technical advancements to improve ocular drug delivery strategies are also driving the market growth. These developments are intended to enhance the effectiveness, accuracy, and patient experience while administering drugs to the eyes. For instance, sustained-release intraocular implants, such as the ILUVIEN, which deliver fluocinolone acetonide and dexamethasone, respectively, have become recognized as ground-breaking technologies. These implants ensure stable drug levels in the eye and minimize the need for frequent eye drops by releasing medication gradually over an extended period of time.
In addition, increase in R&D activities and reduced side effects of drugs due to use of advanced drug delivery technologies boost the market growth. However, stringent regulatory guidelines for the drug approvals limit the growth of the ocular drug delivery market. Furthermore, high cost associated with new drug development is financially challenging for pharmaceutical companies and limit their ability to invest in innovation and develop new ocular drug delivery formulation thereby impacting the market growth. Further, shift of patient preference towards the non-invasive treatments due to ease of administration and improved compliance also drives the demand for eye drops, eye ointments, and other formulations. For instance, according to National Centers for Biotechnology Information (NCBI), topical eye drop is the most convenient and highly preferred route of drug administration.
The ocular drug delivery market is segmented on the basis of technology, formulation type, disease indication, end user, and region. On the basis of technology, the market is classified into topical, ocular insert, intraocular implants, in-situ gels, and others. As per formulation type, the market is categorized into solution, emulsion, suspension, ointment, and others. On the basis of disease indication, the market is segmented into glaucoma, diabetic retinopathy, dry eye syndrome, age related macular degeneration, and others. On the basis of end use the market is divided into hospitals, ophthalmic clinics, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global ocular drug delivery market are Ocular Therapeutix, Inc., EyePoint Pharmaceuticals, Inc., Clearside Biomedical, Santen Pharmaceutical Co., Ltd., Abbvie Inc., Novaliq GmbH, Bausch & Lomb, Alimera Sciences, Inc., Nicox, and Kiora Pharmaceuticals, Inc. Key players operating in the market have adopted product approval and collaboration as their key strategies to expand their market share and product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ocular drug delivery market analysis from 2022 to 2032 to identify the prevailing ocular drug delivery market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ocular drug delivery market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ocular drug delivery market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Technology
- Topical
- Ocular Insert
- Intraocular Implants
- In-Situ Gel
- Others
By Formulation Type
- Ointment
- Others
- Solution
- Emulsion
- Suspension
By End User
- Others
- Hospitals
- Ophthalmic Clinics
By Disease Indication
- Glaucoma
- Diabetic Retinopathy
- Dry Eye Syndrome
- Age related macular degeneration
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Bausch Health Companies, Inc.
- Ocular Therapeutix, Inc.
- Clearside Biomedical, Inc.
- Alimera Sciences, Inc.
- EyePoint Pharmaceuticals, Inc.
- Kiora Pharmaceuticals, Inc.
- Nocox
- Santen Pharmaceutical Co., Ltd.
- Novaliq GmbH
- AbbVie Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OCULAR DRUG DELIVERY MARKET, BY TECHNOLOGY
CHAPTER 5: OCULAR DRUG DELIVERY MARKET, BY FORMULATION TYPE
CHAPTER 6: OCULAR DRUG DELIVERY MARKET, BY DISEASE INDICATION
CHAPTER 7: OCULAR DRUG DELIVERY MARKET, BY END USER
CHAPTER 8: OCULAR DRUG DELIVERY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Bausch Health Companies, Inc.
- Ocular Therapeutix, Inc.
- Clearside Biomedical, Inc.
- Alimera Sciences, Inc.
- EyePoint Pharmaceuticals, Inc.
- Kiora Pharmaceuticals, Inc.
- Nocox
- Santen Pharmaceutical Co., Ltd.
- Novaliq GmbH
- AbbVie Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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