Increasing Prevalence of Glaucoma and Macular Degeneration to Boost Global Ocular Drug Delivery Technology Market

The global market for ocular drug delivery technology is a highly dynamic and technology-driven market. The increasing prevalence of glaucoma and macular degeneration has been driving this market significantly. Researchers at Transparency Market Research (TMR) expect this trend to continue in the next few years, raising the opportunity in this market from US$10.2 bn in 2016 to US$18.12 bn by 2025, expanding at a CAGR of 6.80% over the period from 2017 to 2025.

Analysts have answered some of the important questions about the worldwide market for ocular drug delivery technology in this blog post:

Which trends will have a great impact on the performance of the global ocular drug delivery technology market in future?

In this market, the most significant trend that can be observed currently is the increasing collaboration of large-, medium-, and small-sized regional players with hospitals, clinics, and retail suppliers in an effort to boost up their sales. This, consequently, is anticipated to reflect positively on the overall market in the years to come. The robust product pipeline is also projected to support this market in growth smoothly over the next few years.

Going forward, the escalating preference for targeted drug delivery techniques among patients and the quickened approval processes of novel techniques of ocular drug delivery by the U.S. FDA will add to the market’s progress. However, the rising instances of the patient discomfort in the procedures ocular inserts and implants may affect the market negatively in the near future.

Geographically, which segments will demonstrate superior performance?

Currently, North America is the leading regional market for ocular drug delivery technology. In 2016, it occupied a share of more than 52% in the overall market on the grounds of the presence of a large pool of established companies in the region. With the increasing demand for targeted drug delivery techniques for posterior eye, this regional market is likely to remain dominant over the next few years.

Trailing North America is Europe in the worldwide market for ocular delivery technology. However, it is Asia Pacific, which will outshine all the other regional markets in the near future, owing to the augmenting number of government initiatives across the world in order to create awareness regarding vision impairment and other eye-related disorders.

How is the competitive landscape of the worldwide ocular drug delivery technology market going to react in future?

The global market for ocular drug delivery technology appears relatively consolidated with the top three players, namely, Alimera Sciences, Santen Pharmaceutical Co. Ltd., and Valeant Pharmaceuticals International Inc., holding more than 50% of the overall market. The competition in this market is expected to intensify in the years to come on account of favorable government reimbursement policies and the rising number of research grants.


Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports