Ocular Drug Delivery System sales will total US$ 27.82 Billion, expected to register growth at 6.8 % CAGR during the forecast period 2021-2031

According to Future Market Insights (FMI), the demand for ocular drug delivery system is expected to rise considerably, enabling the market to surpass US$ 14,471.2 Mn in valuation by the end of 2021. The market is forecast to exhibit 6.8% CAGR between 2021 and 2031.

Ocular drug delivery systems are designed for dispensing drug, biologic, biopharmaceutical, and botanical therapeutics for treating macular degeneration, glaucoma, presbyopia, allergy, anti-viral, dry eye, anti-infective and anti-inflammatory indications.

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To overcome the ocular drug delivery barriers and improve ocular bioavailability, various conventional and novel drug delivery systems have been developed such as ointments, emulsion, suspensions, aqueous gels, Nano micelles, liposomes, , and in situ thermosensitive gels for the earlier mention ocular diseases.

Glaucoma is the second-leading cause of blindness worldwide, accounting for up to 8% of total blindness. In India, glaucoma is the leading cause of irreversible blindness with at least 12 million people affected and nearly 1.2 million people blind from the disease. More than 90 percent of glaucoma cases remain undiagnosed in the community.

Thus the high incidence of ophthalmic diseases, resulting in the rise significant patient population, is driving the global ocular drug delivery systems market.

Ocular drug has to pass the water-fat-water membranous structure of cornea and this changing environment presents a significant barrier. That is why, for almost four decades, researchers have been involved in developing intraocular sustained-release drug delivery platforms.

Owing to the rigorous research studies, approvals for new ocular drug delivery techniques are currently recorded globally. This has helped the market to gain momentum over the last few years.

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Ocular Drug Delivery System Market - Key Companies Profiled

Graybug Vision Inc.
Allergan Plc.
Ocular Therapeutix, Inc.
Alimera Sciences
pSivida,
Santen Pharmaceutical Co., Ltd
Taiwan Liposome Company Ltd.
Envisia Therapeutics
Eyegate Pharma
Valeant Pharmaceuticals International, Inc
Vision Ophthalmology Group GmbH
Clearside Biomedical
URSAPHARM Arzneimittel GmbH

Key Takeaways from Ocular Drug Delivery System Market Study
Increasing focus on pharmaceutical innovation and research on drug delivery technologies is driving a transition towards particulate drug delivery systems, which will account for over 68% of the market in 2021.
Ophthalmic solution for ocular drug delivery system is expected to account for 60% the global market share by 2031.
Among distribution channels, hospital pharmacies accounted for 40% of the market share in 2031. Soaring influx of patients for treatment and availability of intensive care support have propelled the demand in the sehment.
North America holds the maximum share, owing to the presence of Tier1 players, high per-capita healthcare expenditure, and favorable reimbursement policies in the region.
The U.S. holds a more than 44% share in the global ocular drug delivery systems market.
The U.K. and Germany are leading markets in Europe, accounting for more than 41% of the Europe market in 2021.
South Korea is the fastest growing market in East Asia, exhibiting 10.3% CAGR through 2031.

Increase in Funding for Research Activities Offers Growth Opportunities
Leading manufacturers in the ocular drug delivery system market are strengthening their market position through collaboration with various other organizations. Governments in developed and developing countries are actively taking initiatives to encourage research pharmaceutical products.

For instance, In April, 2017, Santen Pharmaceuticals announced a strategic investment in Regenerative Patch Technologies LLC, a U.S. based company engaged in development of ophthalmic therapies.

Pharmaceutical giants are expected to benefit from the globalization of labor forces, that is, employment of skilled local labor at cheaper rates to derive larger cost savings. Furthermore, this will create room for research and development (R&D) investments.

As per data from EFPIA and PhRMA, annual pharmaceutical (R&D) expenditures increased at 2.5% p.a. in Europe as compared to 3.3% p.a. in the U.S. over the latest measurable period 2016-2020. This will also create opportunities for the expansion of the market.

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Ocular Drug Delivery Systems Market by Category

Technology
Implantable Ocular Drug Delivery Systems
Particulate Drug Delivery Systems
Nano-Particle Drug Delivery System

Dosage Form
Ophthalmic Solution
Ophthalmic Suspension
Ophthalmic Emulsion
Ophthalmic Gels
Ophthalmic Ointments

Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Drug Store
Mail Order Pharmacies

Region
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

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About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.