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Ocular Drug Delivery Technology Market
Ocular drugs are directly administered onto the affected area or near the affected area for fast absorption and rapid onset of action feasible.
BURLINGAME, CALIFORNIA , UNITED STATES, February 2, 2024 /EINPresswire / -- Market Overview:
Ocular drug delivery technology helps in effective delivery of drugs to treat eye disorders and diseases. This technology involves delivery of drugs through various routes such as topical, intraocular, intravitreal, subconjunctival and iontophoresis.
Market Dynamics:
The global ocular drug delivery technology market is witnessing significant growth owing to rising prevalence of ophthalmic diseases such as glaucoma, diabetic retinopathy, dry eye syndrome and macular degeneration. As per the National Eye Institute, nearly 3 million Americans suffer from glaucoma and over 2.7 million Americans have diabetic retinopathy. The increasing cases of ocular diseases has fueled the demand for effective treatment options, contributing to growth of the market. Furthermore, technological advancements in ocular drug delivery systems such as gel-based delivery systems, collagen shields, liposomes and nanoparticles have improved drug efficacy and bioavailability, thereby supporting market growth over the forecast period.
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Increasing Prevalence of Eye Diseases Such as Glaucoma, Age-related Macular Degeneration and Diabetic Retinopathy
The rising prevalence of eye diseases such as glaucoma, age-related macular degeneration (AMD) and diabetic retinopathy is a major factor driving the growth of the ocular drug delivery technology market. Glaucoma, in particular, affects over 70 million people worldwide and is one of the leading causes of blindness globally. The number of glaucoma cases is expected to increase rapidly in the coming years due to the growing geriatric population. AMD prevalence is also growing due to increased life expectancy. Approximately 170 million people are likely to be affected by AMD by 2050. Diabetic retinopathy is another eye disease strongly linked to the rising global prevalence of diabetes. According to estimates, nearly one-third of people with diabetes develop some form of diabetic retinopathy over time. With governments worldwide focusing on early screening and detection of these eye disorders, the demand for alternative ocular drug delivery systems to effectively treat them is rising significantly.
List of TOP Players in Market Report are: –
Alimera Sciences
Valeant Pharmaceuticals International
Clearside Biomedical INC.
Taiwan Liposome Company Ltd.
Novartis
Pfizer Inc.
Envisia Therapeutics
Graybug Vision Inc.
Note: Major Players are sorted in no particular order.
Market Detailed Segmentation:
On the basis of product type,
Topical
Intraocular Implants
Biodegradable
Non-Biodegradable
Hydrogel Systems
Iontophoresis
Ocular Inserts
Non-Erodible
Erodible
Others (Punctal plugs, cyclodextrines)
On the basis of formulation type,
Solution
Suspension
Liposomes
Emulsion
Nanoparticles
Nano suspensions
Others (Niosomes, dendrimers)
On the basis of application,
Glaucoma
Diabetic Retinopathy
Macular Degeneration
Diabetic Macular Edema
Cataract
On the basis of end user,
Hospitals
Ambulatory surgical centers
Ophthalmic Clinics
Others
Increasing R&D into Novel Drug Delivery Technologies
Pharmaceutical companies and research institutes are increasingly investing in R&D activities focused on developing novel and more efficacious ocular drug delivery technologies. Conventional eye drop formulations have significant limitations in terms of low drug bioavailability and short pre-corneal residence times. This has driven research into alternative technologies such as inserts, particulate systems, drug-eluting contact lenses, nanocarriers and collagen shields. For instance, insert-based systems provide sustained drug release over an extended period and help improve drug permeation across ocular barriers. Nanoparticle-based formulations can enhance drug solubility, prolong ocular residence times and facilitate penetration into deeper ocular tissues. The introduction of newer technologies is expected to revolutionize ocular therapeutics and drive market growth.
High Cost of Treatment
The high cost of ocular disorder treatment and associated drug delivery devices is a major restraint for the ocular drug delivery technology market. For example, some of the newer drug delivery systems such as drug-inserts and nanocarrier-based formulations often require elaborate manufacturing processes and specialized product development capabilities, pushing up their costs significantly. The financial burden of managing chronic eye conditions like glaucoma through expensive intravitreal injections and implants on a long-term basis also restricts market potential, especially in price-sensitive developing regions. Additionally, stringent regulatory standards surrounding ocular drug delivery devices mandate rigorous clinical testing for safety and efficacy, adding to overall product costs. Insurance coverage for innovative technologies is also still limited in many parts of the world. This makes them unaffordable or inaccessible for a large patient base, limiting market revenues.
Advancing Role of 3D Printing Technology
3D printing is emerging as a promising opportunity for customized ocular drug delivery in the years ahead. The technology enables fabrication of patient-specific complex implants, contact lenses and other devices. 3D printing aids design of structures with intricate geometries that facilitate controlled drug release. It allows incorporation of multiple therapeutics, imaging agents and biomaterials into a single dosage form through advanced layer-by-layer material deposition techniques. This facilitates therapy management advantages over conventional eye drops and introduces new possibilities for personalized ophthalmic treatment. 3D printing also helps minimize manufacturing costs through simplified production workflows. Companies are actively exploring the technology for applications such as producing pharmacologically active hydrogel contact lenses and biodegradable drug inserts. Rising investments in 3D printing R&D are likely to produce novel customized solutions and drive market gains.
Growing Shift towards Biodegradable Materials
There is a distinct trend away from non-biodegradable synthetic polymers towards the use of natural and synthetic biodegradable materials for ocular drug delivery applications. Conventional polymeric inserts and implants require surgical removal post therapy completion, causing patient discomfort. Biodegradable alternatives degrade and are eliminated from the body over time without requiring invasive procedures. For example, collagen, gelatin, chitosan and polylactic-co-glycolic acid are becoming preferred choices for designing ophthalmic inserts, nanoparticles, hydrogels and microneedle arrays. Their biocompatibility reduces foreign body sensations and risk of inflammatory reactions or allergic responses.
Furthermore, the years considered for the study are as follows:
Historical data - 2016-2021
The base year for estimation - is 2021
Estimated Year - 2023
Forecast period** - 2023 to 2030
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This Ocular Drug Delivery Technology Market Research/Analysis Report Contains Answers to your following Questions:
◈What are the current global trends in the Ocular Drug Delivery Technology market, and will the market experience an increase or decrease in demand in the upcoming years?
◈ What is the expected demand for various product types within the Ocular Drug Delivery Technology market, and what are the emerging Market applications and trends?
◈ What are the projections for the global Ocular Drug Delivery Technology Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?
◈ How will strategic developments shape the Market trajectory in the medium to long term?
◈ What factors contribute to the final price of Ocular Drug Delivery Technology , and what are the raw materials used in its manufacturing?
◈ What is the market's growth potential, particularly with the increasing adoption of Ocular Drug Delivery Technology in mining?
◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?
◈ What recent Market trends can be leveraged to create additional revenue streams?
◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Ocular Drug Delivery Technology Market?
Summarized Extracts from TOC of Market Study
Chapter 1 Ocular Drug Delivery Technology Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Ocular Drug Delivery Technology
1.3 Scope of The Study
1.3.1 Key Market Segments
1.3.2 Players Covered
1.3.3 COVID-19's impact on the Ocular Drug Delivery Technology industry
1.4 Methodology of The Study
1.5 Research Data Source
Chapter 2 Executive Summary
Chapter 3 Industry Chain Analysis
Chapter 4 Market, by Type
Chapter 5 Market, by Application
Chapter 6 Market Analysis by Regions
Chapter 7 North America Market Analysis by Countries
Chapter 8 Europe Ocular Drug Delivery Technology Market Analysis by Countries
Chapter 9 Asia Pacific Ocular Drug Delivery Technology Market Analysis by Countries
Chapter 10 Middle East and Africa Ocular Drug Delivery Technology Market Analysis by Countries
Chapter 11 South America Ocular Drug Delivery Technology Market Analysis by Countries
Chapter 12 Competitive Landscape
Chapter 13 Industry Outlook
Chapter 14 Market Forecast
Chapter 15 New Project Feasibility Analysis
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