Ocular drug delivery technology market size reached

Wilmington, Delaware, United States, Transparency Market Research, Inc., September 23, 2024 (GLOBE NEWSWIRE) – Technology industry for ocular drug delivery (Ophthalmic Drug Delivery Technology Industry) worldwide 16.3 billion US dollars in sales by 2023. A compound annual growth rate (CAGR) of 5.7% is expected between 2024 and 2034, which will lead to 30.2 billion US dollars until 2034.

Drug delivery technologies for treating ocular diseases have evolved significantly in recent years. A variety of advanced technologies have improved the efficacy and compliance of ocular drug delivery, including nanocarriers, implants and MEMS devices

Research and development is being conducted to improve drug efficacy, increase patient compliance, and develop non-invasive methods for delivering drugs to the eye. Hydrogels that combine nanotechnology with hydrogels and microneedles are to be developed with nanocoatings derived from biomimetic structures.

Devices made of MEMS are currently being developed to treat chronic and refractory eye diseases. These devices allow the continuation of drug therapy without the need for repeated surgical interventions over a long period of time.

After a single administration, drug delivery systems can maintain peak drug levels for longer, resulting in more effective treatment. Side effects such as cataract development and increased intraocular pressure can be reduced.

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Key findings from the market report

• Due to technology, the ocular implants segment will generate demand for ocular drug delivery in the near future.
• In terms of formulation type, the solutions segment is expected to create new markets for drug delivery technologies.
• Due to the increasing number of glaucoma cases, the demand for technologies to deliver medication into the eyes has increased significantly.
• In eye clinics, demand for technologies for administering medication to the eye is expected to increase.

Global Ocular Drug Delivery Technology Market: Growth Drivers

• Eye diseases such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD) are becoming increasingly common as the world's population ages and lifestyles change.
• Continuous research and development have resulted in safer and more effective drug formulations. The demand for advanced ocular delivery systems has increased due to innovations such as sustained-release formulations, drug delivery via nanoparticles and biodegradable implants.
• Patients prefer non-invasive delivery methods that minimize the discomfort and inconvenience associated with traditional eye drops or injections. Intraocular drug delivery technologies such as punctal plugs, inserts and contact lenses offer convenient and comfortable alternatives and are driving market growth.
• Increased investment in healthcare infrastructure has improved access to ocular drug delivery technologies. This expansion of healthcare facilities is driving market demand for innovative ocular drug delivery solutions.
• A favorable regulatory environment and accelerated approval processes encourage manufacturers to invest in research and development. Regulatory support promotes innovation in the development of novel ophthalmic drug delivery systems and increases market competitiveness.
• Nanotechnology, microfabrication and advanced imaging systems can now be used to create platforms for precise and targeted drug delivery. Improvements in drug bioavailability and tissue targeting through technological advances are driving market expansion.

Global Ocular Drug Delivery Technology Market: Regional Landscape

• Numerous eye diseases such as age-related macular degeneration (AMD), diabetic retinopathy, glaucoma and dry eye affect a significant portion of the population in North America. The increasing prevalence of these diseases is a consequence of the aging population and lifestyle variables, including increased screen time, which increases the need for efficient systems for delivering medications to the eye.
• World leaders in biomedical research and innovation are found in North America, particularly in the United States. Renowned universities, research centers and pharmaceutical companies create a climate that favors the advancement of cutting-edge technologies for delivering drugs to the eye. Partnerships between government, industry and academia promote innovation and expand the market.
• The regulation of the approval and marketing of ophthalmic drugs is largely under the control of the U.S. Food and Drug Administration (FDA). A rigorous regulatory environment provides patients and healthcare providers with confidence that products are safe, effective and meet quality standards.
• Innovative ocular drug delivery technologies can reach the market faster thanks to rapid approvals and clear regulatory processes. Reimbursement policies and accessibility of healthcare services both contribute to market expansion in the region.

Global Ocular Drug Delivery Technology Market: Competitive Landscape

Leading companies are introducing new technologies to the global ocular drug delivery technology market.

Profile of the main players

• Ocular Therapeutix Inc.
• Alimera Sciences Inc.
• Allergan (an AbbVie company)
• Bausch Health Companies Inc.
• EyeGate Pharmaceuticals Inc.
• Envisia Therapeutics Inc.
• Clearside Biomedical Inc.
• Graybug Vision Inc.
• Santen Pharmaceutical Co. Ltd.
• Taiwan Liposome Company Ltd.

Important developments

• In June 2023, Alimera Sciences has acquired the right to commercialize Yutiq 0.18 mg in the United States from EyePoint Pharmaceuticals. In 2024, the company will pay EyePoint Pharmaceuticals $7.5 million in equal quarterly installments, based on the $75 million cash payment at closing of the deal.
• In September 2023 Bausch + Lomb Corporationa global leader in eye health committed to helping people live a better quality of life and improve their vision, has acquired XIIDRA (lifitegrast eye drops) 5%, an eye drop product approved for the treatment of dry eye disease (DED) and associated inflammation.

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Global Ocular Drug Delivery Technology Market: Segmentation

By technology

• Iontophoresis
• Intraocular implant

• Biodegradable
• Not biodegradable

• In-situ gel and punctum plug
• Miscellaneous

By formulation type

• Solution
• suspension
• emulsion
• Liposome & Nanoparticles
• ointment

By disease type

• glaucoma
• Macular degeneration
• Diabetic retinopathy
• cataract
• Diabetic macular edema
• Dry eye syndrome
• Miscellaneous

By end user

• Hospitals
• Outpatient Surgical Centers
• Eye clinics
• Settings for home care

By region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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