Ocular Drug Delivery Devices Industry - Regional Synopsis
North American Market Forecast
North America industry is poised to dominate majority revenue share by 2037. The growth of the market can be attributed majorly to growing cases of ocular diseases in underdeveloped countries. As per a WHO report, the instances of distance vision impairment in low-income regions are estimated to be four times higher than in high-income regions, and near vision impairment is estimated to be 80% more in western, eastern, and central sub-Saharan Africa. The rising pharmaceutical sector and increasing research and development to improve the drug delivery system of diseases are estimated to hike the market growth. The growing number of collaborations and increasing market players in the region also propel the market growth.
The market in the North American region is anticipated to gain the largest market share throughout the forecast period owing to the growing cases of cataracts and diabetes-related visual conditions in the region. An estimated 20.5 million (17.2%) Americans aged above 40 years have a cataract in one or both eyes, according to statistics by the Centers for Disease Control and Prevention (CDC).
