The Insight Partners Latest Research for Report “Ocular Drug Delivery Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Technology (Implantable Ocular Drug Delivery Systems, Particulate Drug Delivery Systems, Nano-Particle Drug Delivery System, and Others), Formulation Type (Liposomes and Nanoparticles, Solution, Emulsion, Suspension, and Ointment), Disease Type (Glaucoma, Diabetic Retinopathy, Dry Eye Syndrome, Macular Degeneration, Cataract, Diabetic Macular Edema, and Others), and End User (Hospitals, Ophthalmic Clinics, and Ambulatory Surgical Centers) and Geography
“Ocular Drug Delivery Market to 2028″ is expected to reach US$ 16,404.32 million in 2021 and is projected to reach US$ 27,016.20 million by 2028; it is expected to grow at a CAGR of 7.4 % from 2021 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the market growth.
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Ocular drug delivery system (ODDS) is a dosage form, vehicle, or system intended for instilling, administering, or delivering drug/medicine to eye against any ailment or disorder involving or affecting vision. It ranges from simple sterile eye drop for the ocular surface to complex implants for intraocular tissue. Ocular drugs formulations are primarily available in liquid form such as solutions, suspensions, and emulsions for treating anterior eye segment diseases. These formulations can be available in the form of advanced drug delivery systems like in-situ gel, macroemulsion, nanoparticle, liposome, iontophoresis, nanosuspension, and ocular inserts.
Industry Players are:
The market consists of major players such as AbbVie Inc., Bausch Health Companies Inc., Taiwan Liposome Company, Ltd., Ocular Therapeutix, Inc., Graybug Vision, Inc., Alimera Sciences, Inc., Envisia Therapeutics, Novartis AG, EyeGate Pharmaceuticals, Inc, Clearside Biomedical, Inc. and among others. The companies are utilizing organic as well as inorganic strategies such as new product launches, expansion, product approvals & collaboration, partnerships, and mergers and acquisitions.
Below is the list of the growth strategies utilized by the players operating in the ocular drug delivery market:
Mar-2020: AbbVie (Allergan plc.) has received FDA approval for DURYSTA (bimatoprost implant), it is the first and only intracameral biodegradable sustained-release implant to lower intraocular pressure in open-angle glaucoma or ocular hypertension patients
Jun-2021: Bausch Health (Bausch + Lomb) and Clearside Biomedical, Inc. has collaborated for development of XIPERE1 (triamcinolone acetonide suprachoroidal injectable suspension) for the treatment of macular edema associated with uveitis. This collaboration has received US FDA acceptance for its New Drug Application for XIPERE
Dec-2020: EyeGate Pharmaceuticals, Inc. has acquired Panoptes Pharma, a privately held clinical stage biotech company focused on developing a novel proprietary small molecule for the treatment of severe eye diseases
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COVID-19 pandemic has become the most significant challenge across the world. As this pandemic has stressed healthcare systems across the globe, prioritizing the limited resources was essential to minimize hospital admissions. However, despite increased demand for ocular therapeutics such as eye drops, ointment, and suspension, there was a shortage of these products as new consumers entered the market. Manufacturers are also experiencing raised prices and potential shortages of raw ingredients due to supply restrictions. However, as the restrictions have been lifted and businesses are resuming, the demand-supply variables are coming back to normal. This will offer several growth prospects for ocular drug delivery therapeutics.
Segmentation of Ocular Drug Delivery Market:
Based on technology, the ocular drug delivery market is segmented into implantable ocular drug delivery systems, particulate drug delivery systems, nanoparticle drug delivery system, and others. The implantable ocular drug delivery systems segment would account for the largest market share in 2021. The same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on formulation type, the ocular drug delivery market is segmented into liposomes and nanoparticles, solution, emulsion, suspension, and ointment. The solution segment would hold the largest share of the market in 2021, and it is estimated to register the highest CAGR in the market during 2021–2028. The growth of the solution segment is attributed to the increasing adoption of ocular drug delivery systems in solution forms, like eye drops and injectables.
Based on disease type, the ocular drug delivery market is segmented into glaucoma, diabetic retinopathy, dry eye syndrome, macular degeneration, cataract, diabetic macular edema, and others. The cataract segment would account for the largest market share in 2021. The market for this segment is estimated to grow at the highest CAGR from 2021 to 2028.
Based on end user, the ocular drug delivery market is segmented into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment would hold the largest share of the market in 2021, while the ophthalmic clinics segment is further estimated to register the highest CAGR in the market during the forecast period.
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