The increasing ageing population worldwide is acting as a global burden, resulting in numerous eye-related disorders. The majority of people with vision impairment are estimated to be over the age of 50 years. The ocular drug deliver mode is growing at a robust pace on an account of the increasing prevalence of eye disorders such as diabetic retinopathy, trachoma, corneal opacities etc., which can lead to vision impairment and blindness. According to the WHO, at least 2.2 billion people have a vision impairment or blindness. The growing number of people with various forms of eye diseases, rising medical interventions, and escalating investment toward the research & development activities to develop innovative products are placing a positive impact on the growth of the ocular drug delivery mode market.
According to MarkNtel Advisors’ research report titled “Global Ocular Drug Delivery Mode Market Analysis, 2020”, the Global Ocular Drug Delivery Mode market is anticipated to grow at a CAGR of around 7.5% during 2020-25. Based on disease type, cataract acquired the significant market share in 2020. Congenital cataract is higher in low- and middle-income countries of western and eastern sub-Saharan Africa and South Asia than high-income countries due to lack of government services activities. The tendencies of acquiring cataract are higher among women. Moreover, in high income countries, diseases such as diabetic retinopathy, glaucoma, and age-related macular degeneration are more common. Diabetic Retinopathy is most common in people with type 1 or type 2 diabetes, or women who had diabetes during pregnancy (gestational diabetes).
“Global Ocular Drug Delivery Mode Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Ocular Drug Delivery Mode providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired the Majority Market Share
North America acquired the largest market share in the ocular drug delivery mode market in 2019. US dominated the North America market. The growth the region is attributed to surging number of visual impairments, strong dominance of market players, and high cost of ocular surgeries. Diabetic retinopathy is the most common causes of vision impairment and blindness among working-age adults in the United States. According to the Centers for Disease Control and Prevention, the number of Americans with diabetic retinopathy is expected to nearly double, from 7.7 million in 2010 to 14.6 million by 2050. Thus, this is anticipated to proliferate the growth of the Ocular Drug Delivery Mode Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Ocular Drug Delivery Mode Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Ocular Drug Delivery Mode market are Valeant Pharmaceuticals International, Inc., Taiwan Liposome Company, Ltd., Ocular Therapeutix, Inc., Graybug Vision Inc., Eyegate Pharma, Clearside Biomedical, Inc., Alimera Sciences, Envisia Therapeutics, Allergan, Plc.
Key questions answered in the study: