Ocular Drug Delivery Devices Market Size & Share, by Type (Topical, Iontophoresis, Ocular Insert, Intraocular Implants, In-situ Gel); Drug Form (Solution, Suspension, Emulsion, & Others); Disease Type (Glaucoma, Diabetic Macular Edema, Diabetic Retinopathy, Macular Degeneration, Cataract, Refractive Issues); End-user (Hospitals, Ophthalmic Clinics, Ambulatory Surgical Centers, Homecare Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4029
  • Published Date: Apr 20, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Ocular Drug Delivery Devices Market size is projected to cross USD 30 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. The growth of the market can be attributed to the growing prevalence of ocular diseases, such as cataracts, uncorrected myopia, and presbyopia, combined with better treatment and care through drug-delivery devices. The drug delivery devices work better than traditionally used eye drops and ointments, as they are not wiped away through tears. This ensures constant and longer-lasting drug delivery, resulting in quicker and more effective relief. Such factors are estimated to boost market growth.

 Along with this, the growing prevalence of eye-related diseases is expected to propel the market growth. According to the data from the World Health Organization (WHO), 2.2 billion people have some kind of vision impairment, out of which 1 billion people have moderate or severe distance vision impairment or blindness. Among these, an unaddressed refractive error caused 88.4 million impairments, cataracts caused 94 million, glaucoma was responsible for 7.7 million, and diabetic retinopathy caused 3.9 million vision impairment or blindness cases globally, as of 2018. Eyes are extremely sensitive organs, owing to which, there is a higher awareness regarding the health of the eyes, amongst people, especially in developed countries. As a result, the demand for the treatment of ocular diseases is also elevated, which is projected to positively influence market growth.


Ocular Drug Delivery Devices Market
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Ocular Drug Delivery Devices Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Prevalence of Ocular Diseases Across the World – Vision impairment and sight are the most common diseases in children and adults. The occurrence can be congenital or acquired after birth owing to certain circumstances or accidents. The increasing occupational hazards and exposure to metal scrap pieces while welding or cutting can cause vision loss or severe damage to the eye. Also, the growing number of nerve diseases affect the neurons of the brain and affect the functioning of the eye. All these reasons are estimated to propel the market growth in the coming years.

Worldwide over 2 billion population is suffering from near or far vision loss as of 2022 estimations.

  • Growing Number of Eye Disorders Owing to Occupation – As per the U.S. reports, approximately 18,000 eye injuries take place every year at workplaces. 

  • Increasing Geriatric Population Across the World with Rising Eye Disorders – According to the estimations of 2021, about 1% of adults in the U.S. 50 years and above age are having visual acuity impairment or blindness, and is estimated to rise by over 19% in people aged 85 and above.

  • Rising Government Expenditure for Healthcare – The national healthcare expenditure of the U.S. in 2021 increased by ~3% accounting for over 18% of the gross domestic product

Challenges

  • Poor bioavailability of the dosage forms

The ocular dosage forms have poor bioavailability owing to the loss of precorneal flow which involves lacrimation, dilution with tears, conjunctival absorption, draining of solution, transient residence, and nonproductive absorption. The liquid eye medications flow down the eye as soon as the eye is closed and the solid medications stay in one place taking so much time to distribute by melting. Hence these limitations are expected to hamper the market growth.

  • High Competition from Generic Products

  • Discomfort, such as Irritation, and Excessive Lachrymation

Ocular Drug Delivery Devices Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 13 Billion

Forecast Year Market Size (2035)

~ USD 30 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ocular Drug Delivery Devices Segmentation

Disease Type (Glaucoma, Diabetic Macular Edema, Diabetic Retinopathy, Macular Degeneration, Cataract, Refractive Issues)

The market is segmented and analyzed for demand and supply by disease type into glaucoma, diabetic macular edema, diabetic retinopathy, macular degeneration, cataract, refractive issues, and others out of which, the cataract segment is anticipated to hold a substantial share in the global market over the forecast period on account of high cases of cataract globally. Moreover, various government initiatives to spread awareness about cataracts, are anticipated to boost the segment growth. The increasing geriatric population increases the risk of cataracts are estimated to propel the market growth. The market growth is attributed to poor medical facilities and increasing incidence of other disease conditions such as hypertension, diabetes, eye trauma, and eczema. As per the estimations, globally over 15 million population with age 50 and above are suffering from blindness as of 2020. 

Type (Topical, Iontophoresis, Ocular Insert, Intraocular Implants, In-situ Gel)

The global ocular drug delivery devices market is also segmented and analyzed for demand and supply by type into topical, iontophoresis, ocular insert, intraocular implants, in-situ gel, and others. Amongst these segments, the intraocular implants segment is expected to garner a significant share. The increasing mortality rate owing to the infections of bacteria and viruses and vision impairment are estimated to boost the market growth. The Increasing screentime of people with work-from-home jobs, IT jobs, software jobs, and growing animation jobs is also driving the growth of the market as per the market analysis. The disposable income of people leads to increased use of smartphones, television (TV), and gaming stations which increase the risk of eye disorders and occurrence of blindness among people. As of 2022 reports, more than 50% of Americans spend time watching TV for one to four hours a day, and over 20% watch TV more than four hours per day.

Our in-depth analysis of the global market includes the following segments:

      By Type

  • Topical
  • Iontophoresis
  • Ocular Insert
  • Intraocular Implants
  • In-situ Gel
  • Others

       By Drug Form

  • Solution
  • Suspension
  • Emulsion
  • Others

       By Diseases Type

  • Glaucoma
  • Diabetic Macular Edema
  • Diabetic Retinopathy
  • Macular Degeneration
  • Cataract
  • Refractive Issues
    • Myopia
    • Hypermetropia
    • Presbyopia
  • Others

       By End User

  • Drug Stores & Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies Hospitals
  • Ophthalmic Clinics
  • Ambulatory Surgical Centers
  • Homecare Centers
  • Others
 

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Ocular Drug Delivery Devices Industry - Regional Synopsis

North American Market Forecast

The North American market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to growing cases of ocular diseases in underdeveloped countries. As per a WHO report, the instances of distance vision impairment in low-income regions are estimated to be four times higher than in high-income regions, and near vision impairment is estimated to be 80% more in western, eastern, and central sub-Saharan Africa. The rising pharmaceutical sector and increasing research and development to improve the drug delivery system of diseases are estimated to hike the market growth. The growing number of collaborations and increasing market players in the region also propel the market growth.

The market in the North American region is anticipated to gain the largest market share throughout the forecast period owing to the growing cases of cataracts and diabetes-related visual conditions in the region. An estimated 20.5 million (17.2%) Americans aged above 40 years have a cataract in one or both eyes, according to statistics by the Centers for Disease Control and Prevention (CDC).

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Ocular Drug Delivery Devices Market Size
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Companies Dominating the Ocular Drug Delivery Devices Landscape

top-features-companies
    • Bausch Health Companies Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Taiwan Liposome Company, Ltd.
    • Ocular Therapeutix, Inc.
    • Kiora Pharmaceuticals, Inc.
    • Graybug Vision Inc.
    • Apellis Pharmaceuticals, Inc.
    • Implanet Company
    • Aerie Pharmaceuticals Inc.
    • EyePoint Pharmaceuticals, Inc.
    • Protalix BioTherapeutics

In-the-news

In The News

  • EyePoint Pharmaceuticals, Inc. announced the interim data from its ongoing Phase 1 DAVIO trial of EYP-1901 for the potential treatment of wet AMD.

  • EyeGate Pharmaceuticals, Inc. announced the first successful dosage of its drug PP-001 in the phase II proof-of-concept (“POC”) study of ocular surface inflammation. PP-001 is an inhibitor of dihydroorotate dehydrogenase

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4029
  • Published Date: Apr 20, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing prevalence of ocular diseases and growing awareness amongst people regarding vision impairment are estimated to boost the market growth

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

High competition from generic products and discomfort such as irritation and excessive lachrymation is estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Bausch Health Companies Inc., Taiwan Liposome Company, Ltd., Ocular Therapeutix, Inc., Kiora Pharmaceuticals, Inc., Graybug Vision Inc., Apellis Pharmaceuticals, Inc., Implanet Company, and Aerie Pharmaceuticals Inc. EyePoint Pharmaceuticals, Inc., Protalix BioTherapeutics.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, drug type, disease type, end-user, and by region.

The ophthalmic clinics segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ocular Drug Delivery Devices Market Report Scope
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