The Novel Ocular Drug Delivery Devices Market report features an extensive study of the current market landscape and the likely adoption of novel ocular drug delivery devices, over the next decade. The study features a detailed analysis of the key drivers and trends related to this evolving domain.
According to the World Health Organization (WHO), more than 2.2 billion individuals across the world suffer from some degree of vision impairment caused due to various ophthalmic disorders, such as glaucoma, trachoma, cataract, diabetic retinopathy and wet age-related macular degeneration. Around 50% of the cases are left either unaddressed and / or could have been prevented. It is also worth highlighting that around 1.7 billion individuals worldwide are expected to lose their vision by 2050. As per the Centers for Disease Control and Prevention (CDC), loss of vision can pose an economic burden of over USD 35 billion, in terms of loss of productivity and direct costs of treatment / care. Considering the aforementioned facts, there is a rise in demand for effective therapeutic interventions for the treatment of ocular diseases, in order to prevent complete vision loss. Conventionally, ocular diseases have been treated through surgery, laser or pharmacological interventions (such as anti-angiogenic drugs). However, these treatment options are associated with several limitations, including side effects of intravitreal injections and conventional surgeries, poor drug bioavailability at the target tissue site and need for frequent drug administration to maintain efficacy for a longer duration. In addition, at present, more than 90% of the marketed ophthalmic formulations are available in the form of eye drops that mainly target diseases related to anterior segment of the eye. Studies suggest that, if administered with the help of topical eye drops, around 95% of the drug is lost due to a number of challenges, such as dilution of product by tears and permeation issues related to cornea. Therefore, drug delivery formulations, such as eye drops and ointments, cannot be considered as an optimal treatment option for vision-threatening diseases.
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Owing to the concerns, there is an evident rise in the demand for effective, non-invasive drug delivery systems that are capable of overcoming bioavailability hurdles and enable delivery of the drug at the target cells, at effective concentrations, for a suitable period of time. Over time, several pharmaceutical companies across the world have undertaken various initiatives to develop novel drug delivery devices, such as sustained release implants, ocular inserts and punctal plugs, that are capable of enabling effective administration of drugs, while overcoming the existing challenges. In fact, over 1,100 patents related to novel ocular drug delivery devices have been filed / granted in the past few years, demonstrating the continued innovation being carried out in this domain.
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Based on the type of ocular disorders, therapeutics can be delivered into the ocular regions. The selection of appropriate route of administration for a particular drug, depends on the target ocular tissue.
The growing interest of pharmaceutical stakeholders in this field is also reflected from the recent rise in partnership activity of novel ocular drug delivery device developers. Driven by the increasing patient population and introduction of novel and advanced ocular drug delivery devices, this market is anticipated to witness steady growth in the coming years.
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