Ocular Drug Delivery Devices Market Trends

Growth Drivers

• Increasing Prevalence of Ocular Diseases Across the World – Vision impairment and sight are the most common diseases in children and adults. The occurrence can be congenital or acquired after birth owing to certain circumstances or accidents. The increasing occupational hazards and exposure to metal scrap pieces while welding or cutting can cause vision loss or severe damage to the eye. Also, the growing number of nerve diseases affect the neurons of the brain and affect the functioning of the eye. All these reasons are estimated to propel the market growth in the coming years.

Worldwide over 2 billion population is suffering from near or far vision loss as of 2022 estimations.

• Growing Number of Eye Disorders Owing to Occupation – As per the U.S. reports, approximately 18,000 eye injuries take place every year at workplaces. 

• Increasing Geriatric Population Across the World with Rising Eye Disorders – According to the estimations of 2021, about 1% of adults in the U.S. 50 years and above age are having visual acuity impairment or blindness, and is estimated to rise by over 19% in people aged 85 and above.

• Rising Government Expenditure for Healthcare – The national healthcare expenditure of the U.S. in 2021 increased by 3% accounting for over 18% of the gross domestic product

Challenges

• Poor bioavailability of the dosage forms

The ocular dosage forms have poor bioavailability owing to the loss of precorneal flow which involves lacrimation, dilution with tears, conjunctival absorption, draining of solution, transient residence, and nonproductive absorption. The liquid eye medications flow down the eye as soon as the eye is closed and the solid medications stay in one place taking so much time to distribute by melting. Hence these limitations are expected to hamper the market growth.

• High Competition from Generic Products

• Discomfort, such as Irritation, and Excessive Lachrymation