Ocular Drug Delivery Devices Market Size

Ocular Drug Delivery Devices Market size was over USD 14.5 Billion in 2023 and is anticipated to reach USD 37 Billion by the end of 2036, growing at around 8.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ocular drug delivery devices is assessed at USD 15.6 Billion. The growth of the market can be attributed to the growing prevalence of ocular diseases, such as cataracts, uncorrected myopia, and presbyopia, combined with better treatment and care through drug-delivery devices. The drug delivery devices work better than traditionally used eye drops and ointments, as they are not wiped away through tears. This ensures constant and longer-lasting drug delivery, resulting in quicker and more effective relief. Such factors are estimated to boost market growth.

 Along with this, the growing prevalence of eye-related diseases is expected to propel the market growth. According to the data from the World Health Organization (WHO), 2.2 billion people have some kind of vision impairment, out of which 1 billion people have moderate or severe distance vision impairment or blindness. Among these, an unaddressed refractive error caused 88.4 million impairments, cataracts caused 94 million, glaucoma was responsible for 7.7 million, and diabetic retinopathy caused 3.9 million vision impairment or blindness cases globally, as of 2018. Eyes are extremely sensitive organs, owing to which, there is a higher awareness regarding the health of the eyes, amongst people, especially in developed countries. As a result, the demand for the treatment of ocular diseases is also elevated, which is projected to positively influence market growth.