Increasing Consumer Awareness and Rising incidence of glaucoma and macular degeneration driving the growth of ocular drug delivery system market.
Albany, NY -- (SBWIRE) -- 01/10/2018 -- Ocular drug delivery system designed to treat eye locally, whereas the conventional method of drug delivery is less effective due to the presence of various barriers. The bioavailability of the active drug substance is sufficient in ocular drug delivery system to combat an ocular disease. Various technology and method used in ocular drug delivery systems such as intravitreal injection, ocular inserts, nanoparticles iontophoresis and many more. Ocular drug delivery system help to reduce the major challenges faced by pharmacologist and formulation scientist for delivery of drugs to the targeted ocular tissues. Ocular drug delivery system helps to surpass the barriers, associated side effects and maintain drug concentration for longer duration which gives better results in terms of safety, patient comfort, and efficacy. Immense research and development and advancement in nanotechnology help drug delivery scientist to modulate the process and develop ocular drug delivery system. Current development in ocular drug delivery system such as in situ gels, implants, contact lens and others shows significant growth. High adaptation of ocular drug delivery system by the patient as well as healthcare personnel also propels the market growth over the forecast period.
Ocular Drug Delivery System: Drivers and Restraints
Major factors such as increasing prevalence of ophthalmic disease, Involvement of Governments and Private Organizations in Ophthalmic Care, Increasing Consumer Awareness and Rising incidence of glaucoma and macular degeneration driving the growth of ocular drug delivery system market. Increasing preference of targeted ocular drug delivery techniques among patients in developing region further increases the demand for ocular drug delivery system also be the driving forces to the ocular drug delivery system market. In some cases, the patient feels discomfort in ocular inserts and implants which may hamper the ocular drug delivery system market.
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Ocular Drug Delivery System: Segmentation
The global ocular drug delivery system is classified on the basis of technology, indication type, end user and geographic region.
Based on the Technology, ocular drug delivery system is segmented into following:
Implantable Ocular Drug Delivery Systems, Particulate Drug Delivery Systems
Based on the Indication, ocular drug delivery system is segmented into following:
Glaucoma, Macular Degeneration, Diabetic Retinopathy, Cytomegalovirus Retinitis, Diabetic Macular Edema and Others
Based on the end user, ocular drug delivery system is segmented into following:
Hospitals, Ambulatory Surgical Centers, Ophthalmic Clinics, Homecare Settings
Ocular Drug Delivery System: Overview
The unmet demand for ocular drug delivery system market is going to provide a major impetus to the manufactures over the forecast period. In recent years, companies and researchers are mainly focusing on ocular implants and ocular inserts and numerous venture capital firms also assist the companies which may create a huge opportunity. However, partnerships and collaborations have played a vital role in the enhancement of the ocular drug delivery system market. Increasing prevalence of glaucoma and age-related macular degeneration disease eventually increase the demand for ocular drug delivery system which is expected to show significant growth over the forecast period.
Ocular Drug Delivery System: Regional Overview
Based on geographic region ocular drug delivery system are classified into seven key regions, North, America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, Middle East and Africa. The market in North America is supposed to hold the largest share of ocular drug delivery system in the global market, followed by Western Europe, owing to the presence of sophisticated healthcare infrastructure, surging research and favorable reimbursement scenario. In addition to that, many big manufacturers being domiciled in this region and rising funding by both government and private sectors are also gardening the growth of Ocular drug delivery system market. Ocular drug delivery system market in Asia- Pacific region and Japan are anticipated to grow at a higher rate owing to the presence of large consumer base and increasing support such as funding and grants from the government sector. However, the market for ocular drug delivery system in regions such as Latin America, Eastern Europe, and the Middle East and Africa are estimated to show a stagnant growth over the forecast period.
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Ocular Drug Delivery System: Key Players
Some of the key market participants in the ocular drug delivery system are Ocular Therapeutix, Inc., Alimera Sciences, Allergan Plc., (Bausch & Lomb Incorporated), Graybug Vision Inc., pSivida, Santen Pharmaceutical Co., Ltd, Taiwan Liposome Company Ltd, Envisia Therapeutics, Clearside Biomedical and many others. The market of ocular drug delivery system has witnessed consolidation among the key players such as collaboration, partnership, patent transfer, increasing research and development activities, product introduction, mergers and acquisition, and joint ventures among the international as well as domestic players are the distinctive trend of competition in the ocular drug delivery system market.