Ocular Drug Delivery Technology Market

Ocular Drug Delivery Technology Industry Overview (2022-2032)

The global ocular drug delivery technology market is likely to be valued at US$ 17.74 Billion in FY 2022, up from US$ 16.4 Billion in 2021.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 16.4 Billion
Expected Market Value (2022)	US$ 17.74 Billion
Projected Forecast Value (2032)	US$ 39 Billion
Global Growth Rate (2022-2032)	8.2% CAGR
Growth Rate of the U.S Market (2022-2032)	7.1% CAGR
Expected Market Value of China (2032)	US$ 3.5 Billion
U.K Market Expansion Rate (2022-2032)	7.2% CAGR
Key Companies Profiled	Ocular Therapeutix, Inc. Alimera Sciences Allergan Plc. Valeant Pharmaceuticals International (Bausch Health Company), Inc. Santen Pharmaceutical Co., Ltd. Bepreve Istalol Besivance Alrex Zylet

During the past year, the industry registered a Y-o-Y increase worth 8.2%. From 2022 to 2032, the ocular drug delivery technology industry is poised to flourish at a CAGR of 8.2% to reach a value of US$ 39 Billion by the end of 2032.

Demand for liposome and nanoparticle formulations will continue to thrive, with a documented CAGR of 8.2% during the 2015-2021 historical period of assessment, while demand for intraocular implants Ocular Drug Delivery Technology proliferated at a rate of 7.7% during the same time period.

2015 to 2021 Ocular Drug Delivery Technology Market Revenue Analysis vs. Market Outlook 2022-2032

According to Fact.MR, the sales of ocular drug delivery system have propagated at a 7.2% CAGR between 2015 and 2021. Ocular drug delivery systems are platforms invented for dispensing drug, biologic, biopharmaceutical, and botanical therapeutics for doctoring macular degeneration, glaucoma, presbyopia, allergy, anti-viral, dry eye, anti-infective and anti-inflammatory indications.

It is anticipated that glaucoma cases will surpass 100 billion by 2040, while macular degeneration shall reach nearly 200 billion by 2022-end. These increasing cases are poised to heighten prospects for the ocular drug delivery technology. Immense research and development are occurring in the ocular drug delivery market. Shortages in the bioavailability of such drugs is a key growth driver. Studies have shown that micellar formulations and derivative active pharmaceutical ingredients have immense scope for development. Based on these trends, the global ocular drug delivery technology market is poised to register positive growth.

To beat the ocular drug delivery barriers and advance bioavailability, numerous conventional and new drug delivery systems have been established such as ointments, emulsion, suspensions, aqueous gels, nanomicelles, liposomes, dendrimers, implants, contact lenses, nanoparticles, Nano suspensions, microneedles, and in situ thermosensitive gels for the earlier mention ocular diseases.

Key Drivers Stimulating Ocular Drug Delivery Technology Industry Expansion

Advancement in Medical Assistance & Prevalence of Vision Impairment to Act as key Drivers

Recently, there has been an increment in the geriatric population followed by upsurge in occurrence of eye disease such as glaucoma, cataract and macular degeneration, augmenting the demand of ophthalmic drug in countries like U.S & Canada.

A latest published report by National Institute for Occupational Safety & Health (NIOSH) summarizes that nearly 2,000 workers need medical assistance owing to job-related eye injuries every day in the United States. Similarly, over 12 billion people aged above 40 years have vision impairment in the nation. Therefore, the demand for effective treatment to control the increasing incidence of ophthalmic diseases and injuries is likely to create a pool of growth opportunities for the foresaid market.

Promising reimbursement strategies and ongoing advancement in drug delivery treatment will proliferate the growth of ocular drug delivery technology system. Swelling demand for targeted drug delivery techniques will fortify the ocular drug delivery technology system market growth.

Key Challenges to Ocular Drug Delivery Technology Industry Expansion

Expensive Cost of Production & Drug-related Side effects to Restrain Market Expansion

Based on the recent analysis, prominent drug manufacturer which hinders the market growth of ocular drug delivery technology which comprises excessive cost and complexities linked with the treatment. Low bioavailability of drugs for conventional ocular therapies is also one of the prominent restraining factors in the ocular drug delivery system market.

Subsequently after the clinical trials, scientists have discovered some side effects of ocular drug delivery technology on the human skin such as irritation, excessive lachrymation, and drug dilution occurring post the treatment which is expected to restrict the market growth over the forecast period.

Country-wise Analysis

How Opportunistic are Growth Prospects across the U.S Market?

Presence of Prominent Manufacturers Reinforce the Demand for Ocular Drug Delivery System

North America is poised to retain hegemony in the global ocular drug delivery technology market. Burgeoning cases of visual impairments, high cost of ocular surgeries and presence of a large number of market players are anticipated to boost the North American market. Canada will arise as the fastest growth market within North America, yet the U.S. is estimated to remain dominant through the assessment period.

There are approximately 3 Billion people with glaucoma and between 16 and 49 Billion people suffering from dry eyes in the United States alone. Rise in patients suffering from infections or inflammatory diseases (uveitis), and that is a significant number of people who have to administer eye drops regularly

Projections indicate a market share exceeding half of the total ocular drug delivery technology market. In addition, introduction of different formulation types and reduced research and development costs are also poised to leverage growth prospects. Fact.MR forecasts that the North American market is anticipated to expand 1.4x to surpass US$ 9 Billion during the forecast period. The market is subjected to register a CAGR value of 7.1% which documented a valuation of nearly US$ 4.2 Billion in 2021.

Why are Ocular Drug Delivery Technology Providers Venturing into China?

Amplifying Pharmaceutical Growth in China to Reinforce the Foresaid Market Demand

Asia-Pacific is expected to generate credible growth opportunities in the future. Establishment of research and development units by key manufacturers in emerging economies, increasing prevalence of cataract and uveitis are key growth levers. Research grants are being advanced by major research companies across several Asia-Pacific countries, thus broadening the scope of drug development. The Asia-Pacific region is poised to expand at a CAGR of 7% throughout the forecast period, capturing nearly 1/10th of the total market share.

With upsurge in disposable income, the emerging nations like China & India are continuing to spend on ground-breaking technologies for better treatment modalities. China is already the second largest pharma market in the world, but as drug makers encounter growth challenges in the U.S. and other established countries, the country is looking more alluring in the current scenario. Fact.MR’s latest report summarizes that APAC ocular drug delivery technology market is estimated to surpass US$ 3.5 Billion, following a CAGR of 7.3% throughout the conjecture period.

Country-wise Value CAGRs for Ocular Drug Delivery Technology (2022-2032)

U.S	7.1%
U.K	7%
China	7%
Japan	7.4%

Category-wise Insights

Which Product Type is Most Preferred in the Ocular Drug Delivery Technology Market?

Solution-based Formulations to Remain Most Preferred across the Globe

By formulation type, solutions are anticipated to capture the majority share, accounting for more than 60% of the global ocular drug delivery technology market. High production volume, high-patient compliance and cost-effectiveness are important growth levers.

Augmenting demand for targeted drug delivery, especially for posterior eye disorders, and high penetration of low molecular size particles shall leverage market prospects for liposome and nanoparticle formulations. Moreover, nanoparticles are claimed to provide prolonged resistance time on the ocular surface. Fact.MR reveals that liposome and nanoparticle segment have recorded a CAGR of 8.2% in the historic period, reaching a value of US$ 1.75 Billion by 2032-end.

By technology, which Ocular Drug Delivery Technology is expected to Dominate?

Pharmaceutical Advancements in Developing Regions to Spur Demand for Intraocular Implants

In terms of technology advancements, the intraocular implants segment is witnessing the fastest-growth rate in the upcoming future. High adoption of intraocular implants due to its targeted action and long-term effectiveness have boosted growth opportunities for this technology. A market share of more than one-tenth is anticipated for intraocular implants, expanding at a CAGR of 7.7% across the forecast period. The segment is poised to reach a value of US$ 3.6 Billion by the end of conjecture period.

Competitive Landscape

Prominent Ocular Drug Delivery Technology providers are reliant on partnerships, collaborations, acquisitions, and new software launches so as to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

• In Feb 2022, Alimera Sciences, Inc., a global pharmaceutical company whose mission is to be invaluable to patients, physicians and partners concerned with retinal health and maintaining better vision longer, announces that Alimera Sciences Europe Limited, its Ireland-based European subsidiary, launched ILUVIEN® for non-infectious posterior uveitis in Spain, through its distribution partner, Brill Pharma (Brill). 
• In October 2021, Allergan, an AbbVie company, announced that it will present new pooled analyses and post hoc results from the Phase 3 trials of AGN-190584 (pilocarpine HCl ophthalmic solution 1.25%), an investigational novel treatment for presbyopia, at Academy 2021, the annual meeting of the American Academy of Optometry, November 3-6. Presentations included the clinical results for near and intermediate vision, functional near vision, efficacy for post-LASIK patients, and the patient experience.

Key Segments Covered in the Ocular Drug Delivery Technology Industry Survey

• Ocular Drug Delivery Technology by Type :

  • Topical Ocular Drug Delivery Technology
  • Ocular Drug Delivery Inserts:
    • Non-erodible Ocular Drug Delivery Technology
    • Erodible Ocular Drug Delivery Technology
  • Iontophoresis Ocular Drug Delivery Technology
  • Intraocular Implants:
    • Biodegradable Ocular Drug Delivery Technology
    • Non-biodegradable Ocular Drug Delivery Technology
  • In-Situ Gel & Punctal Plugs Ocular Drug Delivery Technology
  • Others

• Ocular Drug Delivery Technology by Formulation :

  • Solution based Ocular Drug Delivery Technology
  • Suspension based Ocular Drug Delivery Technology
  • Emulsion based Ocular Drug Delivery Technology
  • Liposomes & Nanoparticles based Ocular Drug Delivery Technology
  • Ointment based Ocular Drug Delivery Technology

• Ocular Drug Delivery Technology by Disease Type :

  • Ocular Drug Delivery Technology for Glaucoma
  • Ocular Drug Delivery Technology for Diabetic Retinopathy
  • Ocular Drug Delivery Technology for Dry Eye Syndrome
  • Ocular Drug Delivery Technology for Macular Degeneration
  • Ocular Drug Delivery Technology for Diabetic Macular Edema
  • Ocular Drug Delivery Technology for Cataract
  • Others

• Ocular Drug Delivery Technology by Region :

  • North America Ocular Drug Delivery Technology Market
  • Latin America Ocular Drug Delivery Technology Market
  • Europe Ocular Drug Delivery Technology Market
  • Asia Pacific Ocular Drug Delivery Technology Market
  • Middle East & Africa Ocular Drug Delivery Technology Market