Ophthalmic Drug Delivery Systems Market Size, Share & Trends Analysis Report By Technology, By Delivery Mode, By Production Technology, By Material, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global ophthalmic drug delivery systems market size was valued at 12.1 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030. Increasing incidence of eye disorders such as cataracts, glaucoma, age-related macular degeneration among others is the primary factor driving the growth of the market. In addition, factors such as growing demand for targeted drug delivery technologies and recent advancements that enhance the bioavailability when administered are also boosting the growth of the market.

The COVID-19 pandemic not only led to major loss of life but also severely disrupted the financial and economical functioning of several countries across the globe. It led to disruption in manufacturing and R&D activities, transport and similar activities. While the pandemic posed great threat to the human life, it also presented a similar threat to the overall economic growth of the countries. While some markets observed a sudden boom in sales, quite a few of them also observed a sharp decline in sales due to the lockdowns and restrictions that were imposed to curb the spread of the virus.

The COVID-19 pandemic negatively affected the market for ophthalmic drug delivery systems. This is due to the reduced patient visits to the hospitals and clinics as a precautionary measure to avoid being infected with the virus. Moreover, due to delayed elective procedures such as cataract surgeries to reserve the limited amount of beds for the COVID-19 patients. Shortage of products as a result of disruption in supply chain due to long lockdowns in the first half of pandemic also led to a fall in sales of ophthalmic drug delivery systems. However, with the re-opening of all the activities at full-fledge and world returning to normalcy the market for ophthalmic drug delivery systems is expected to regain its growth. With the companies now being able to conduct research and development activities with 100% staff, the market is expected to experience significant growth during the forecast period.  

Recent advances in ophthalmic drug delivery systems have helped the market for ophthalmic drug delivery systems to generate a significant amount of revenue in the last few years. Advances in nanotechnology and biomaterial have led to major growth in the nanoparticles, hydrogels, biodegradable microparticles and ocular implants. All of these may comprise ocular pharmacologic agents thereby providing improved delivery of a variety of medications. With ever-evolving approaches to targeted delivery, the ophthalmic drug delivery systems is expected to progress at a rapid pace during the forecast period.

Technology Insights

The eye drops segment dominated the market for ophthalmic drug delivery systems and held the highest revenue share of more than 21.0% in 2021. Eye drops are commonly used a first line of treatment which increases its overall adoption rate leading to higher revenue being generated from this segment. Eye drops are also considered as the most convenient treatment option for ophthalmic diseases, thus making it the dominant segment throughout the forecast period. Based on technology, the market is segmented into eye drops, contact lenses, punctal plugs, episcleral implants, intravitreal implants, injectable particulate systems, iontophoresis, micro-electromechanical, nano careers, nano microparticles, microneedles, hydrogels, and others.

The micro-electromechanical segment is expected to experience fastest CAGR of 9.3% in the market for ophthalmic drug delivery systems over the forecast period. This is due to increased focus on developing products with this technology as it offers advantages such as targeted delivery to inner tissues, automated to address patient compliance and refillable for long-term use. Also, the devices using this technology can be fabricated using biocompatible materials, with great reproducibility and uniformity, thereby propelling its adoption rate.

Production Technology Insights

The formulation segment dominated the market and accounted for the highest revenue share of 22.3% in 2021. This is due to the increasing adoption of topical eye drops which are produced using the formulation technology. Moreover, increasing usage of formulations used in ocular inserts and contact lenses that are used to deliver drugs and can imbibe formulations has also contributed towards the dominance of the formulation segment. In addition, formulations are often prescribed as first line of treatment for majority of the ophthalmic diseases. This results in increase in adoption of products incorporated using the formulation production technology. Therefore, formulation segment dominates the market in terms of production technology.

However, the 3D printing segment is expected to register maximum growth during the forecast period during the forecast period. Although currently, the application of 3D printing in ophthalmology is limited, it represents enormous potential especially for the generation of ocular tissues, which includes sclera and corneas. In addition, 3D printing enables cost-effective design and production of instruments that aid in early detection of common ocular conditions, 3D-printed intraocular implants and contact lenses, and diagnostic and therapeutic devices built specifically for individual patients improving the overall treatment procedures. Thus, the advantages and potential that 3D printing represents are the primary factors contributing to its fast growth.

Material Insights 

The hydrogels segment dominated the market for ophthalmic drug delivery systems and held the highest revenue share of 17.4% in 2021 owing to the advantages it offers over other materials. It increases the bioavailability of topically administered formulations by increasing the residence time of an active ingredient which gives it more time to diffuse through the layers of the eye. Hence, the advantages associated with hydrogels is predicted to enhance the overall segment growth. The polycaprolactone segment is expected to experience maximum CAGR during the forecast period. This is due to the increasing number of R&D studies focusing on studying and developing products that are made from polycaprolactone material. Increasing advancements and rising number of research studies is expected to gain a larger market share. 

Delivery Route Insights

The intraocular segment dominated the ophthalmic drug delivery systems market and accounted for the highest revenue share of more than 53.0% in 2021. This is due to the advantages intraocular delivery route offers which include ease of eye drop formulation, less irritation, sterilization, enhancement in ocular bioavailability of drugs that are insoluble in tear fluid and it increases precorneal residence time. Moreover, most eye specialists and patients prefer intraocular delivery route as it is easy to administer which results in higher adoption rate of products that can be delivered through intraocular delivery route.

The intravitreal segment is expected to witness a CAGR of 9.86% during the forecast period. This high growth is due to the growing prevalence of c disorders and intravitreal serves as the leading route deliver macromolecules to the posterior segment into the eye. The intravitreal delivery route offers immediate and increased therapeutic effect in the intended retinal tissue leading to increasing preference among individuals. Additionally, intravitreal route is beneficial in administering medications for a variety of retinal conditions. Conditions such as Age-related Macular Degeneration (AMD), retinal vein occlusion and diabetic retinopathy are increasing rapidly among the population and these conditions are commonly treated with intravitreal drugs. Thus, it is expected to experience significant growth over the forecast period.

Regional Insights

North America dominated the market for ophthalmic drug delivery systems and accounted for the highest revenue share of more than 51.0% in 2021. This is attributed towards the availability of technologically advanced products and skilled professionals, increasing focus of government on R&D activities, well established healthcare and research infrastructure. Moreover, increase in the prevalence of eye disorders in this region is anticipated to foster the regional growth. According to CDC, an estimated 93 million adults are at a high risk of serious vision loss in the U.S.

In Asia Pacific, the market for ophthalmic drug delivery systems is projected to witness a CAGR of 9.7% during the forecast period. Growing geriatric population in this region is amongst the major factors contributing to the growth of the market in this region. This is because the geriatric population is at a higher risk of developing eye disorders. Increasing shift towards sedentary lifestyle that is leading to increasing prevalence of lifestyle diseases such as diabetes, which, in turn, pose a risk of diabetic retinopathy is also helping market growth in this region. Moreover, increasing initiatives to promote eye care by the government, rise in R&D activities is also leading the market towards significant growth in Asia Pacific.

Key Companies & Market Share Insights

Key players manufacturing the ophthalmic drug delivery systems are focusing on strengthening their position in the market through strategic collaborations and partnerships. The companies are targeting to widen their customer base and create awareness about eye disorders through the means of these partnerships. For Instance, Santen Pharmaceuticals Co. Ltd. entered into a long term partnership with Orbis International to tackle the increasing burden of eye diseases in low and middle-income countries, especially in Asia. Some of the prominent players in the ophthalmic drug delivery systems market include:

• Ocular Therapeutix Inc.

• Allergan plc.

• Santen Pharmaceutical Co. Ltd.

• Envisia Therapeutics

• pSivida

• Clearside Biomedical

• Oculis Pharma

• Valeant Pharmaceuticals

• AptarGroup, Inc.

Ophthalmic Drug Delivery Systems Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global ophthalmic drug delivery systems market report on the basis of technology, delivery route, production technology, material, and region:

• Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Eye drops

  • Contact lenses

  • Punctal plugs

  • Episcleral Implants

  • Intravitreal Implants

  • Injectable Particulate Systems

  • Iontophoresis

  • Micro-Electromechanical

  • Nano careers

  • Nano microparticles

  • Microneedles

  • Hydrogels

  • Others

•  Delivery Route Outlook (Revenue, USD Million, 2017 - 2030)

  • Intraocular

  • Intravitreal

  • Intracameral

• Production Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Electrospinning

  • 3D printing

  • Extrusion

  • Formulation

  • Micro patterning

  • Compression molding

  • Others

• Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Liposomes

  • Collagen

  • PLA-PEG

  • PDO/PVA

  • Hydrogels

  • TMC

  • Polyorthoesters

  • PLGA

  • Polycaprolactone

  • Fatty acids

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE