Ophthalmic Drug Delivery Systems Industry 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.

Gather more insights about the market drivers, restrains and growth of the Global Ophthalmic Drug Delivery Systems 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.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

• Nasal Drug Delivery Technology Market – The global nasal drug delivery technology market was valued at USD 71.89 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.45% from 2023 to 2030.
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Key Companies profiled:

Some prominent players in the global 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.

Order a free sample PDF of the Ophthalmic Drug Delivery Systems Market Intelligence Study, published by Grand View Research.