The global ophthalmic drug delivery systems market size is projected to reach USD 23.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.3% from 2022 to 2030. Factors such as growing prevalence of ophthalmic diseases, rise in number of ophthalmic procedures that require attentive post procedural care and increase in need to deliver controlled dosage forms for pediatric and geriatric population are anticipated to propel the growth of the market.
Key Insights & Findings from the report:
- The eye drops segment dominated the market with highest revenue share in 2021 as eye drops are often recommended as the first line of treatment in most of the ophthalmic procedures to control the effect of the disease as it is the most convenient and patient compliant technology.
- The intraocular segment held the highest revenue share in 2021 owing to the advantages it offers such as sterilization, less irritation, ease of eye drops formulation and enhancement in ocular bioavailability of drugs that are insoluble in tear fluid.
- On the basis of production technology, the formulation segment accounted for highest market share in 2021 owing to increase in adoption of topical eye drops which is produced through the formulation technology.
- Based on material, the hydrogels segment held the highest market share in 2021 owing to the advantages it offers over other materials.
- North America accounted for highest market share in 2021 due to increasing incidence of ophthalmic disorders, presence of skilled professionals and various initiatives undertaken by the government agencies to prevent blindness in the region.
- The COVID-19 pandemic has a negative impact on the market. Due to change in healthcare priorities, social distancing, worldwide lockdowns led to reduced patient visits to the hospitals and clinics.
Read 110-page market research report, “Ophthalmic Drug Delivery Systems Market Size, Share & Trends Analysis Report By Technology, By Delivery Mode, By Production Technology, By Material, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Ophthalmic Drug Delivery Systems Market Growth & Trends
In addition, immense focus on technological advancements is further helping the market to grow at a significant rate. For instance, manufacturers’ instant focus on nanotechnology has helped to deliver error-free drug delivery and increase the penetration level of the drug at the target site.
The market observed a sudden fall in sales of ophthalmic drug delivery systems during the first half of the COVID-19 pandemic. The lockdowns across different countries and various restrictions led down by the government led to fall in number of patient’s visits to the hospitals and clinics. Moreover, the disruption in supply chains also led to a shortage of these products which indicates an overall negative impact on the market. However, with the government’s initiatives to curb the spread of the virus and limit the negative consequences it possesses via mass vaccination programs and heavy investment in R&D activities, the market is expected to recover over the forecast period.
Ophthalmic Drug Delivery Systems Market Segmentation
Grand View Research has segmented the global ophthalmic drug delivery systems market based on technology, delivery route, production technology, material, and region:
Ophthalmic Drug Delivery Systems Technology Outlook (Revenue, USD Million, 2017 – 2030)
- Eye drops
- Contact lenses
- Punctal plugs
- Episcleral Implants
- Intravitreal Implants
- Injectable Particulate Systems
- Nano careers
- Nano microparticles
Ophthalmic Drug Delivery Systems Delivery Route Outlook (Revenue, USD Million, 2017 – 2030)
Ophthalmic Drug Delivery Systems Production Technology Outlook (Revenue, USD Million, 2017 – 2030)
- 3D printing
- Micro patterning
- Compression Molding
Ophthalmic Drug Delivery Systems Material Outlook (Revenue, USD Million, 2017 – 2030)
- Fatty acids
Ophthalmic Drug Delivery Systems Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Ophthalmic Drug Delivery Systems Market
- Ocular Therapeutix Inc.
- Allergan plc.
- Santen Pharmaceutical Co. Ltd.
- Envisia Therapeutics
- Clearside Biomedical
- Oculis Pharma
- Valeant Pharmaceuticals
- AptarGroup, Inc.
Check out more related studies published by Grand View Research:
- Ophthalmic Perimeters Market – The global ophthalmic perimeters market size is anticipated to reach USD 371.7 million by 2028. The growing frequency of new product launches and an increasing number of strategic alliances between players & end-users are some of the major factors expected to boost growth.
- Ophthalmic Ultrasound Devices Market – The global ophthalmic ultrasound devices market size is expected to reach USD 787.7 million by 2028, registering a CAGR of 8.36% over the forecast years, according to a new report by Grand View Research, Inc.
- Ophthalmic Photocoagulator Market – The global ophthalmic photocoagulator market size is expected to reach USD 213.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028.
Browse through Grand View Research’s Medical Devices Industry Research Reports.