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Global Ophthalmic Drug Delivery Devices Market Increasing Size, Demand, Growth Rate, and Forecast 2033 - Emergen Research
Ophthalmic Drug Delivery Devices Market
Key Market Trends
The rising incidence of eye diseases is a primary driver of market expansion. According to the World Health Organization (WHO), around 2.2 billion people worldwide suffer from visual impairment.
In the U.S., over 24.4 million individuals aged 40 and above are affected by cataracts. Increased access to diagnostic tests, ongoing research and development (R&D), and strategic partnerships among industry players are further propelling market growth.
Technological innovations are reshaping ophthalmic drug delivery methods. Advanced solutions such as sustained-release implants, nanotechnology-based carriers, and microneedle patches are improving drug effectiveness and patient adherence.
For instance, Viatris Inc. launched RYZUMVI 0.75% in the U.S. in April 2024, a solution designed to treat pharmacologically induced mydriasis. Additionally, companies are exploring biodegradable materials and gene therapy platforms to enhance treatment precision and sustainability.
Market Drivers
A key factor driving market growth is the expanding geriatric population. Eye conditions such as macular degeneration, glaucoma, and cataracts are more prevalent in older adults.
According to WHO, by 2030, one in six people globally will be aged 60 or older, with this figure expected to reach 2.1 billion by 2050. The growing senior population will continue to increase the demand for advanced ophthalmic drug delivery solutions.
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Market Restraints
Despite its promising growth, the market faces challenges due to the high cost of ophthalmic drug delivery devices. Advanced multifunctional drug delivery systems are often expensive, limiting accessibility for patients and healthcare providers. This cost barrier is particularly significant in emerging markets, where budget constraints hinder adoption. Additionally, high costs may slow down R&D efforts, affecting overall innovation in the field.
Segment Insights
The market is segmented based on delivery routes, including intraocular, intravitreal, and intracameral methods. The intraocular segment led the market in 2023 due to its ability to provide targeted and prolonged drug release, improving treatment for serious eye conditions such as macular degeneration and glaucoma.
Intravitreal injections are expected to witness the highest growth through 2032, as they allow direct delivery into the vitreous body, enhancing therapeutic outcomes for retinal diseases.
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In October 2024, Orasis Pharmaceuticals, an ophthalmic pharmaceutical firm, stated that it had successfully closed a USD 78 Billion fundraising round to support the launch of Qlosi, a revolutionary eye drop designed to treat presbyopia in adults.
Some of the key companies in the global Ophthalmic Drug Delivery Devices Market include:
Ocular Therapeutix Inc.
Allergan plc.
Santen Pharmaceutical Co. Ltd.
Envisia Therapeutics
pSivida
Clearside Biomedical
Oculis Pharma
Valeant Pharmaceuticals
AptarGroup, Inc.
Ophthalmic Drug Delivery Devices Latest Industry Updates
In September 2024, Eyenovia, Inc., an optical technology company, has announced the U.S. launch and availability of clobetasol propionate ophthalmic suspension, which has been approved by the FDA for the treatment of post-operative inflammation and pain following ocular surgery.
In January 2024, Amneal Pharmaceuticals, Inc. has announced the approval and commercialization of fluorometholone ophthalmic suspension.
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Ophthalmic Drug Delivery Devices Market Segmentation Analysis
Technology Outlook (Revenue, USD Billion; 2020-2033)
Eye drops
Contact lenses
Punctal plugs
Episcleral Implants
Intravitreal Implants
Injectable Particulate Systems
Iontophoresis
Micro-Electromechanical
Nano careers
Nano microparticles
Microneedles
Hydrogels
Others
Total
Delivery Route Outlook (Revenue, USD Billion; 2020-2033)
Intraocular
Intravitreal
Intracameral
Production Technology Outlook (Revenue, USD Billion; 2020-2033)
Electrospinning
3D printing
Extrusion
Formulation
Micro patterning
Compression molding
Others
Material Outlook (Revenue, USD Billion; 2020-2033)
Liposomes
Collagen
PLA-PEG
PDO/PVA
Hydrogels
TMC
Polyorthoesters
PLGA
Polycaprolactone
Fatty acids
Others
Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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The ophthalmic drug delivery devices market is poised for significant expansion, driven by increasing eye disorders, technological advancements, and a growing elderly population. As companies continue to innovate and improve drug delivery methods, the market is set to transform ophthalmic care, making treatments more effective and accessible worldwide.
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