Global Ocular Drug Delivery Market: Manufacturers Collaborating with Hospitals to Bolster Positions, finds TMR

Global Ocular Drug Delivery Technology Market: Overview

The top three players in the global ocular drug delivery technology market hold more than 50.0% share in it. This makes the competitive landscape consolidated. The topnotch players have climbed to the top owing to their broad range of topical ocular drug products.

A noticeable trend in the global ocular drug delivery technology market is the small and large regional players collaborating with hospitals and other suppliers to grow their sales. They are also leveraging acquisitions and banking on a robust pipeline of products in ophthalmic sector to bolster their positions. In the next couple of years, competition will likely become intense in the market because of helpful reimbursement policies of governments and research grants pouring in.

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Rising instances of glaucoma and macular degeneration, increasing preference among patients for targeted ocular drug delivery techniques, and approval of new ocular drug delivery techniques by the FDA are some of the factors driving the market for ocular drug delivery technology. Providing headwinds to the market, on the flipside, is the discomfort patients’ feel in ocular inserts and implants.

A report by Transparency Market Research predicts the global ocular drug delivery technologies market to expand at a steady 6.8% CAGR between 2017 and 2025 to become worth US$18.124 bn by 2025-end, vis-à-vis revenue, from US$ 10.2 bn in 2016.

Affordability of Topical Technology Drives their Sales

Some of prominent technologies in the global ocular drug delivery technology market are topical, ocular inserts, iontophoresis, intraocular implants, and in-situ gel and punctal plugs, among others. Of them, the topical segment dominates the market revenue-wise. In 2016, the segment accounted for slightly over half the share in revenue the market – something it will likely retain in the near future. This is due to the expanding elderly population and the entry of numerous regional manufacturers in the ophthalmic technology market. Besides, introduction of emulsion and suspension forms in the formulation of topical drug delivery technologies and their relatively lesser cost is also providing tailwinds to their demand. The topical segment was worth US$5.159 bn in 2016 and expanding at a CAGR of 6.6% from 2017 to 2025, it is predicted to grow its share to US$9.106 in 2025.

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In terms of growth rate, however, intraocular implants, is expected to surpass all other technology segments in the global ocular drug delivery technology market. It expected to clock a CAGR of 7.1% from 2017 to 2025. In fact, topical and intraocular implants are forecasted to be the top two attractive segments of the market, with attractiveness indices of 1.6 and 0.6, respectively.

Government Efforts to Create Awareness about Blindness to Catapult Asia Pacific Market

From a geographical standpoint, North America leads the global ocular drug delivery technology market. This is mainly on account of the strong demand for targeted drug delivery to the posterior eye and many big manufacturers being domiciled in the region. In 2016, North America accounted for a significant 52.5% share in the market.

Europe trails North America, in the global ocular delivery technology market with a market share of 24%. Vis-à-vis growth rate, on the other hand, Asia Pacific is expected to outshine all other regions on account of various initiatives by governments of different nations to create awareness about blindness and a growing pool of elderly. The region is expected to clock a 6.7% CAGR between 2017 and 2025.

Prominent names in the global ocular delivery technology market are OCULAR THERAPEUTIX, INC., Alimera Sciences, Allergan, Plc., EyeGate Pharma, Valeant Pharmaceuticals International, Inc. (Bausch & Lomb Incorporated), Envisia Therapeutics, Clearside Biomedical, INC., Graybug Vision Inc., and Taiwan Liposome Company, Ltd.

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