Ocular Drug Delivery Technology Market, By Product Type (Topical, Intraocular Implants, (Biodegradable, and Non-Biodegradable), Hydrogel Systems, Iontophoresis, Ocular Inserts (Non-Erodible, and Erodible), Others), By Formulation (Solution, Suspension, Liposomes, Emulsion, Nanoparticles, Nano Suspensions, Others), By Application (Glaucoma, Diabetic Retinopathy, Macular Degeneration, Diabetic Macular Edema, and Cataract), By End User (Hospitals, Ambulatory Surgical Centers, Ophthalmic clinics, and Others) - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Ocular drug delivery is associated with the treatment of ophthalmic diseases. Ophthalmic diseases affect various parts of the eye anatomy, which are mainly categorized on the basis of their position namely, anterior segment and posterior segment. Ocular drugs are directly administered onto the affected area or near the affected area for fast absorption and rapid onset of action feasible. Topical ocular drug formulations are primarily available in liquid form such as solutions, suspensions, and emulsions for treating anterior eye segment diseases. Posterior segment diseases are treated with more advanced therapies such as implants and injections.

Materials used in ocular drug delivery include polymers, bioadhesive gels, and hydrogels. Novel drug delivery systems enable better penetration of the therapeutic agent, providing long lasting effect by bypassing the natural barriers associated with the eye anatomy. Anterior segment diseases can easily be treated with conventional drug delivery, whereas, posterior segment diseases are treated with the help of novel drug delivery systems such as intravitreal, subconjunctival, and suprachoroidal injections. Newer therapeutic systems and dosage forms are under research, which can act for longer durations with maximum patient compliance.

Increasing need for better and effective treatment options and increasing eye diseases prevalence is expected to boost growth of the ocular drug delivery technology market

Incidence of ophthalmic diseases and disorders in the recent past years has increased significantly due to factors such as rising geriatric population (leading to macular degeneration and cataract), excessive strain on eyes owing to long working hours, and increasing diabetes prevalence leading to retinopathy. Diabetes is a major cause of retinopathy and according to World Health Organization (WHO), the number of people with diabetes was 422 million in 2014 which is expected to increase in the near future.

Incidence of age-related macular degeneration is also increasing and according to International Agency for the Prevention of Blindness, 196 million people are expected to have macular degeneration by 2020. This is expected to support growth of the market over the forecast period.

Ocular Drug Delivery Technology Market Taxonomy

The global ocular drug delivery technology market is segmented on the basis of product type, formulation type, application, end user, and geography

On the basis of product type, the global ocular drug delivery technology market is segmented into:

  • Topical
  • Intraocular Implants
    • Biodegradable
    • Non-Biodegradable
  • Hydrogel Systems
  • Iontophoresis
  • Ocular Inserts
    • Non-Erodible
    • Erodible
  • Others (Punctal plugs, cyclodextrines)

On the basis of formulation type, the global ocular drug delivery technology market is segmented into:

  • Solution
  • Suspension
  • Liposomes
  • Emulsion
  • Nanoparticles
  • Nano suspensions
  • Others (Niosomes, dendrimers)

On the basis of application, the global ocular drug delivery technology market is segmented into:

  • Glaucoma
  • Diabetic Retinopathy
  • Macular Degeneration
  • Diabetic Macular Edema
  • Cataract

On the basis of end user, global ocular drug delivery technology market is segmented into:

  • Hospitals
  • Ambulatory surgical centers
  • Ophthalmic Clinics
  • Others

Regional segmentation of the ocular drug delivery technology market by Coherent Market Insights comprises North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America market is expected to be dominant over the forecast period. This is owing to increasing demand for treatment of posterior eye problems as according to American Academy Of Ophthalmology, in 2050 an estimated 7.32 million people in the U.S. are expected to suffer from open angle glaucoma, increasing geriatric population (that are at high risk for eye diseases), and advancement in technology in ocular therapy. IACTA Pharmaceuticals, Inc. was granted the North American rights to develop and commercialize NM133, comprising of molecular envelope technology to treat dry eye in July 2017. Furthermore, Sun Pharma launched its first branded ophthalmic product, Bromsite, in the U.S. in 2016. Asia Pacific market is expected to exhibit the highest growth rate over the forecast period. This is due to factors such as major concentration of local manufacturers, and low costs associated with treatment favoring the medical tourism in the region as according to International Journal of Pharmaceutical Sciences Review and Research, 2015, eye surgeries in developed economies such as the U.S. cost three to four times more than in India. Initiatives such as World Health Organization’s (WHO) Universal Eye Health plan till 2019 spreads awareness regarding eye health which is expected to aid in the ocular drug delivery technology market growth.

Key Competitors

Key players operating in the Ocular Drug Delivery Technology market are Alimera Sciences, Valeant Pharmaceuticals International, Clearside Biomedical, INC., Taiwan Liposome Company, Ltd., Novartis, Pfizer Inc., Envisia Therapeutics, and Graybug Vision Inc.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
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In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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  • Environmental indicators
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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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