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Ocular Drug Delivery Market Growth Statistics, Size, Share
Ocular Drug Delivery Market Growth
As per the report, the ocular drug delivery market size has grown strongly in recent years. It will grow from $17.39 billion in 2023 to $18.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The ocular drug delivery market size is expected to see strong growth in the next few years. It will grow to $24.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
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Rising Prevalence Of Eye Disorders Boosts Ocular Drug Delivery Market
An increase in the prevalence of eye disorders is expected to propel the growth of the ocular drug delivery market going forward. Eye disorders refer to a wide range of conditions that affect the eyes, vision, or the structures surrounding the eyes. Ocular drug delivery allocates medications directly to the target site, providing greater drug concentrations at the targeted area, optimizing therapeutic efficacy while avoiding systemic adverse effects, and improving eye disorders. For instance, in March 2023, according to the World Health Organization, a Switzerland-based United Nations agency, globally, 2.2 billion people will have a near- or far-sighted impairment. According to estimates, cataracts (94 million) and uncorrected refractive problems (88.4 million) are the main causes of visual loss or impaired vision. In addition, glaucoma (7.7 million cases), corneal opacities (4.2 million cases), diabetic retinopathy (3.9 million cases), and trachoma (2 million cases) are the other common causes of vision loss. Therefore, the increase in the prevalence of eye disorders is driving the growth of the ocular drug delivery market.
Pioneering Product Innovations In The Ocular Drug Delivery Market
Product innovation is a key trend gaining popularity in the ocular drug delivery market. Companies operating in the ocular drug delivery market are focused on developing new product innovations to sustain their position in the market. For instance, in March 2023, Alcon AG, a Swiss pharmaceutical and medical device firm focusing on eye care products, launched TOTAL30 for astigmatism and SYSTANE HYDRATION for dry eye and ocular health. TOTAL30 is the debut and only Toric lens to combine water Gradient and Celligent Technology, allowing the lens that mimics the structure of the ocular surface and provides superior performance in areas like comfort, stability, and visual acuity. SYSTANE HYDRATION PF is an ocular health eye drop that uses HydroBoost technology to restore moisture, prevent irritation, and give relief from dry eye symptoms.
The ocular drug delivery market covered in this report is segmented -
1) By Technology: Implantable Ocular Drug Delivery Systems, Particulate Drug Delivery Systems, Nano-Particle Drug Delivery System, Other Technologies
2) By Formulation: Liposomes And Nanoparticles, Solution, Emulsion, Suspension, Ointment
3) By Disease: Glaucoma, Diabetic Retinopathy, Dry Eye Syndrome, Macular Degeneration, Cataract, Diabetic Macular Edema, Other Diseases
4) By End User: Hospitals, Ophthalmic Clinics, Ambulatory Surgical Centers
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Major companies operating in the ocular drug delivery market report are Pfizer Inc., Roche Holding AG, AbbVie Inc., Novartis AG, Allergan Inc., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Genentech Inc., Santen Pharmaceutical Co. Ltd., Akorn Inc., Valeant Pharmaceuticals International Inc., Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Ocular Therapeutix Inc., Ophthotech Corporation, Acucela Inc., Graybug Vision Inc., Amakem NV, Kala Pharmaceuticals Inc., Icon Bioscience Inc., Clearside Biomedical Inc., Aerpio Therapeutics Inc., Senju Pharmaceutical Co. Ltd., Shire plc, Spark Therapeutics Inc., Sucampo Pharmaceuticals Inc., Carl Zeiss Meditec AG, EyeGate Pharmaceuticals Inc.
Contents of the report:
1. Executive Summary
2. Ocular Drug Delivery Market Report Structure
3. Ocular Drug Delivery Market Trends And Strategies
4. Ocular Drug Delivery Market - Macro Economic Scenario
5. Ocular Drug Delivery Market Size And Growth
…..
27. Ocular Drug Delivery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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