According to FutureWise analysis the market for ophthalmic drug delivery systems in 2023 is US$ 14.25 billion, and is expected to reach US$ 27.41 billion by 2031 at a CAGR of 8.5%.
Currently, 90% of the ophthalmic formulations that are available come in eye-drop form. While the product is well accepted by patients, one of the major problems encountered is rapid precorneal drug loss. New drug delivery systems for ophthalmic administration are being developed in order to improve ocular drug bioavailability. Hydrogels generally improve the bioavailability of ocular drugs, but can cause blurred vision. Activated gel-forming systems are preferred since they can be delivered in drop form with sustained release characteristics. The convenience of colloidal systems, such as liposomes and nanoparticles, allows drugs to remain active at their site of action and is suitable for poorly water-soluble compounds. Among the new therapeutic approaches in ophthalmology, cyclodextrins have been proposed as an alternative approach for increasing the solubility of the drug in solution and increasing corneal permeability. A new continuous-delivery system for drugs has been developed utilizing collagen shields, which provide high and sustained levels of drugs to the cornea despite a problem of tolerance. Several drug delivery technologies are combining to become the new trend in ophthalmic drug delivery systems. In the global ophthalmic drug delivery devices market, the majority of drug formations are synthesized and manufactured in liquid form. For treating anterior eye segment disorders, these drug formulations can consist of various solutions, emulsions, and suspensions. As a result of its anatomy and chemical composition, the eye is highly resistant to pharmaceutical penetration. Developing an ocular drug that circumvents these barriers requires both intimate knowledge of ocular drug development and specialized formulation and manufacturing expertise.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Ophthalmic Drug Delivery Systems Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Ophthalmic Drug Delivery Systems Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.