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.
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.
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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.
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.
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.
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