Ophthalmic drugs are used for the treatment of diseases and disorders related to eyes. The ophthalmic drug delivery system has various advantages over topical system which uses eye drops for drug administration. In conventional methods, delivery of drugs to the aimed ophthalmic tissues is restricted by various precorneal, active and stable ophthalmic barriers. Also, levels of these drugs are not maintained for longer period in targeted ocular tissues.
To overcome the ophthalmic drug delivery barriers and improve ophthalmic bioavailability, various safe and novel drug delivery systems have been developed such as ointments, suspensions, microneedles, aqueous gels, emulsion, nanomicelles, nanosuspensions, nanoparticles, liposomes, implants, dendrimers,contact lenses and thermosensitive gels. These drug delivery systems have their own advantages and disadvantages. But the major advantages are the simplicity of application for patients, minimum use of needles, good and longer corneal penetration; prolonged contact time allows maximum absorption of drugs in corneal tissues and comfortable and non-irritating form.
In Global Ophthalmic Drug Delivery System Market, various new development and new versions of drug delivery, research is going on. There is a huge scope of improvement in this area. In 2016, the global ophthalmic drug delivery system market was estimated approximately USD 16 billion.
It is expected to maintain a decent CAGR during forecast period, and is estimated to garner maximum market share by 2022. Some of the key factors that influence the market growth are increasing ophthalmic disorders across the world, Diabetics and old age leads toophthalmic complicationsand risingdemand and requirement for constant medications. Access to healthcare and hectic lifestyle impacting the ophthalmic health are the factors which are driving the market. Some ofthe restraining factors are lack of awareness among people regarding ophthalmic disorders and diseases and higher cost of ophthalmic drugs.
The key market players in the Global Ophthalmic Drug Delivery System Market are Hoya Corporation, Bausch & Lomb, Inc., Abbott Medical Optics, and CooperVision, Inc. Novartis (ALCON), Allergan, Santen, Pfizer, Merck and Roche. Geographically, market is segmented into regions which are Europe, North America, Asia-Pacific, Latin America, and Middle East Asia. By type of drugs, market classified as Prescription Drugs and OTC Drugs. By targeted drugs market is segmented into Dry eye Drugs, Retinal Drugs, Anti-inflammatory/Allergy/Infective Drugs, Anti-Glaucoma Drugs.