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HEALTHCARE & PHARMACEUTICAL

Ocular Drug Delivery Devices Market Segmentation by Type (Topical, Iontophoresis, Ocular Insert, Intraocular Implants, In-situ Gel, and Others); by Drug Form (Solution, Suspension, Emulsion, & Others); by Disease Type (Glaucoma, Diabetic Macular Edema, Diabetic Retinopathy, Macular Degeneration, Cataract, Refractive Issues, and Others); and by End-User (Hospitals, Ophthalmic Clinics, Ambulatory Surgical Centers, Homecare Centers, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • November 05, 2021: EyePoint Pharmaceuticals, Inc. announced the interim data from its ongoing Phase 1 DAVIO trial of EYP-1901 for the potential treatment of wet AMD.

  • June 14, 2021: EyeGate Pharmaceuticals, Inc. announced the first successful dosage of its drug PP-001 in phase II proof-of-concept (“POC”) study ocular surface inflammation. PP-001 is an inhibitor of dihydroorotate dehydrogenase.

Global Ocular Drug Delivery Devices Market Highlights over 2022 – 2031

The global ocular drug delivery devices market is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing prevalence of ocular diseases, such as, cataract, 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 the market growth. 

Ocular Drug Delivery Devices Market

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Along with this, the growing prevalence of eye-related diseases, is expected to propel the market growth. According to the data by 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, unaddressed refractive error caused 88.4 million impairments, cataract 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 treatment of ocular diseases is also elevated, which is projected to positively influence the market growth.

Vision Impairment Incidences (in Million), by Disease, 2018

The market is segmented 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 ocular drug delivery devices market over the forecast period on account of high cases of cataract globally. Moreover, various government initiatives to spread awareness about cataract, are anticipated to boost the segment growth.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita, (USD), 2015-2018

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Ocular Drug Delivery Devices Market Regional Synopsis

On the basis of geographical analysis, the global ocular drug delivery devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Middle East & Africa region is estimated to witness noteworthy growth over the forecast period on the back of growing cases of ocular diseases in the 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 market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing cases of cataract and diabetes-related visual conditions in the region. An estimated 20.5 million (17.2%) Americans aged above 40 years, have cataract in one or both eyes, according to the statistics by the Center for Disease Control and Prevention (CDC).

Ocular Drug Delivery Devices Market Share

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The global ocular drug delivery devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global ocular drug delivery devices 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
    • Presbiopia
  • Others

By End-User

  • Hospitals
  • Ophthalmic Clinics
  • Ambulatory Surgical Centers
  • Homecare Centers
  • Others

Growth Drivers

  • Increasing Prevalence of Ocular Diseases
  • Growing Awareness amongst People regarding Vision Impairment

Challenges

  • High Competition from Generic Products
  • Discomfort, such as Irritation, and Excessive Lachrymation

Top Featured Companies Dominating the Market

  • 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

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