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.
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.
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.
Ocular Drug Delivery Technology Market: Overview
This report on the Global Ocular Drug Delivery Technology market analyzes the current and future scenario of the global market. Rise in private and public funding for R&D of novel drug delivery technologies, increase in prevalence of macular degeneration & diabetic retinopathy, and favorable regulatory scenario for introduction of innovative technologies are boosting the growth of the Global Ocular Drug Delivery Technology market. Rising demand for targeted drug delivery to the affected ocular tissue, and elimination of drug due to nasolacrimal drainage system when administered via topical route are some of the factors expected to drive the growth of Global Ocular Drug Delivery Technology market during the forecast period.
The Ocular Drug Delivery Technology report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the global market with respect to the segments based on technology type, formulation type, disease type, end user, and geography. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises Porter’s Five Forces Analysis to help understand the competitive landscape in the market. This section also provides market attractiveness analysis in terms of geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the Global Ocular Drug Delivery Technology market.
Ocular Drug Delivery Technology Market: Segmentation
Based on the technology, the Ocular Drug Delivery Technology market has been segmented into 6 types, which are Topical, Ocular Inserts, Intraocular Implants, Iontophoresis, In Situ gel & Punctal Plugs, and Others. Ocular Inserts are further divided into Erodible & Non-erodible types, while Intraocular Implants are classified into Biodegradable & Non-biodegradable types. Intraocular Implants & Topical are considered to be leading segments of Ocular Drug Delivery Technology market, owing to the high patient compliance. They are expected to continue to dominate the market in terms of revenue by 2025, which is attributed to the introduction of novel drug delivery techniques by key players in the market. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Different types of formulation types in the ocular drug delivery technology market are Solution, Suspension, Ointment, Emulsion, and Liposomes & Nanoparticles. Solutions accounted for highest market revenue in 2016, and is expected to remain leading in terms of revenue during the forecast period. The dominance is attributed to the introduction of preservative free formulation types & contamination free containers.
Based on disease type, the global ocular drug delivery technology market is segmented into 7 major segments, which are Glaucoma, Macular Degeneration, Diabetic Retinopathy, Diabetic Macular Edema, Cataract, Dry Eye Syndrome, and Others. Macular Degeneration is anticipated to lead the market during the forecast period, owing to its high prevalence and government participation in spreading awareness for visual loss & blindness.
Different types of end users are present in the Ocular Drug Delivery Technology are Hospitals, Ambulatory Surgical Centers, Ophthalmic Clinics, and Homecare Settings. Under the end user segment, Hospitals accounted for the largest share of the Global Ocular Drug Delivery Technology market in 2016, while Ophthalmic Clinics & Ambulatory Surgical Centers are expected to witness highest CAGR during 2017-2025.
Ocular Drug Delivery Technology Market: Regional Analysis
Geographically, the global Ocular Drug Delivery Technology has been categorized into five major regions and the key countries in the respective region: North America (U.S. and Canada), Europe (U.K., Germany, France, Spain, Italy, Russia and Rest of Europe), Asia Pacific (India, Japan, China, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC Countries, and Rest of Middle East & Africa).
Ocular Drug Delivery Technology Market: Competitive Analysis
The report also profiles major players in the Global Ocular Drug Delivery Technology based on various attributes such as company overview, financial overview, product portfolio, business strategies, SWOT analysis, and recent developments. Major players profiled in this report include OCULAR THERAPEUTIX, INC., Alimera Sciences, Allergan, Plc., Valeant Pharmaceuticals International, Inc. (Bausch & Lomb Incorporated), EyeGate Pharma, Envisia Therapeutics, Clearside Biomedical, INC., Graybug Vision Inc., Santen Pharmaceutical Co., Ltd, Taiwan Liposome Company, Ltd, and others.
The Global Ocular Drug Delivery Technology Market has been segmented as given below:
Global Ocular Drug Delivery Technology Market, by Technology,
- Ocular Insert
- Intraocular Implants
- In Situ Gel & Punctal Plugs
Global Ocular Drug Delivery Technology Market, by Formulation Type,
- Liposomes & Nanoparticles
Global Ocular Drug Delivery Technology Market, by Disease Type,
- Macular Degeneration
- Diabetic Retinopathy
- Diabetic Macular Edema
- Dry Eye Syndrome
Global Ocular Drug Delivery Technology Market, by End user
- Ambulatory Surgical centers
- Ophthalmic Clinics
- Homecare Settings
Global Ocular Drug Delivery Technology Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa