Eye diseases such as cataract, glaucoma, diabetic retinopathy etc. are not treatment properly may cause loss of vision. Manufacturers are developing several novel technologies for ocular drug delivery as it increases accurate dosing, provides sustained and controlled drug delivery and improves therapeutic performance of drugs.
The global ocular drug delivery technology market report has been segmented on the basis of product type, formulation type, application, end user, and region. Increasing number of cases of eye diseases such as cataract and glaucoma globally is expected to boost the market growth. According to Glaucoma Research Foundation, in 2017 an estimated over 3 million patients in US had glaucoma. In addition, rising need for effective and better treatments is expected to propel the growth of global ocular drug delivery technology market over the forecast period. Advancements in technology of ocular therapy and rising awareness regarding eye health is expected to drive the market growth over the forecast period. However, lack of skilled surgeons is other factor expected to hamper the market growth.
Based on application, the market is segmented based on glaucoma, diabetic retinopathy, macular degeneration, cataract, and others. The cataract segment contributes major market share. This is attributed to increasing prevalence of cataract disease globally.
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Based on region, the global ocular drug delivery technology market is segmented into North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to the presence of large number of players the market and favorable reimbursement policies in the region. Asia Pacific is expected to witness rapid growth rate over the forecast period. This is attributed to the rising awareness about ocular diseases, improving healthcare infrastructure, and rapidly growing ageing population.
Some prominent players in the global ocular drug delivery technology market are Alimera Sciences, Inc., Valeant Pharmaceuticals International, Inc., Clearside Biomedical, Inc., Taiwan Liposome Company, Ltd., Novartis AG, Pfizer Inc., Envisia Therapeutics, Inc., Graybug Vision Inc., Allergan, Plc., and Ocular Therapeutix, Inc.