Global Ocular Drug Delivery Market Size, Share, and Forecasts to 2028

Posted by Prabha Mahajan on September 30th, 2022

According to our new market research study on “Ocular Drug Delivery Market to 2028 – Global Analysis and Forecast – by Technology, Formulation Type, Disease Type, and End User,” the market is expected to reach US$ 16,404.32 million in 2021 and is projected to reach US$ 27,016.20 million by 2028; it is expected to grow at a CAGR of 7.4 % from 2021 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the market growth.

An ocular drug delivery system (ODDS) is a dosage form, vehicle, or system intended to instill, administer, or deliver drug/medicine to the eye against any ailment or disorder involving or affecting vision. It ranges from simple sterile eye drop for the ocular surface to complex implants for intraocular tissue. Ocular drug formulations are primarily liquid forms, such as solutions, suspensions, and emulsions for treating anterior eye segment diseases. These formulations can be available in the form of advanced drug delivery systems like in-situ gel, micro emulsion, nanoparticle, liposome, iontophoresis, nanosuspension, and ocular inserts.     

The leading cause of blindness or low vision across the globe is cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, and unaddressed refractive error. The majority of the global population have or had some eye disorder in their lifetime. As per the World Health Organization (WHO) report “Blindness and vision impairment” published in February 2021, around 2.2 billion people worldwide have a near or distance vision impairment. It has also estimated that the leading cause of vision loss or low vision is cataract (94 million) and uncorrected refractive errors (88.4 million). Further, the other common causes of vision loss are glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), and trachoma (2 million).

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According to the National Eye Institute (NEI), in the US, the number of people with cataracts is expected to double from 24.4 million in 2010 to about 50 million in 2050. Similarly, as per the Factsheet Glaucoma: Facts & Figures 2019, over 3 million people in the US were living with glaucoma.  Moreover, as per the Canadian Survey on Disabilities 2017, 1.5 million Canadians had a sight loss, and around 5.59 million had an eye disease which could further lead to sight loss.

Additionally, as per the Royal National Institute of Blind People in 2017, in the UK, there were around 350,000 people registered as blind and partially sighted; about 173,735 were registered for severely sight impaired; and 176,125 were registered for sight-impaired.

The market consists of major players such as AbbVie Inc., Bausch Health Companies Inc., Taiwan Liposome Company, Ltd., Ocular Therapeutix, Inc., Graybug Vision, Inc., Alimera Sciences, Inc., Envisia Therapeutics, Novartis AG, EyeGate Pharmaceuticals, Inc., Clearside Biomedical, Inc. and among others. The companies are utilizing organic as well as inorganic strategies such as new product launches, expansion, product approvals & collaboration, partnerships, and mergers and acquisitions.

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Prabha Mahajan

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Prabha Mahajan
Joined: September 26th, 2022
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