Ocular implants are medical devices that are implanted in the eye with the aim of treating ocular disorders or improving vision. Common ocular implants include intraocular lenses, glaucoma drainage devices, corneal inlays/onlays, and retinal implants.
Market Dynamics:
The global ocular implant market is expected to witness significant growth over the forecast period owing to the rising incidence of eye diseases such as cataract, glaucoma, age-related macular degeneration and diabetic retinopathy. For instance, according to the World Health Organization (WHO), the number of people with age-related macular degeneration is projected to increase to 196 million by 2020 from 64 million in 2020. Another major factor driving the market growth is the technological advancements in ocular implants. Newer generation ocular implants offer more biocompatibility, reduced risk of infections and improve visual acuity compared to traditional implants. Furthermore, rising awareness regarding various ocular diseases and their treatment options along with growing healthcare expenditure is expected to fuel the demand for ocular implants over the forecast period.
Rising prevalence of ocular disorders and diseases is a major driver for the Ocular Implant Market
The prevalence of various ocular disorders and diseases has been increasing significantly across the globe. Some key statistics- Around 285 million people are estimated to be visually impaired worldwide, with this number projected to increase to 397 million by 2030. Age-related macular degeneration is a major cause of vision loss in people aged 60 and above in developed countries. Cataract is the leading cause of blindness globally, affecting over 20 million people. Glaucoma also impacts around 80 million people worldwide. The rising cases of such conditions is driving greater demand for various ocular implants like intraocular lenses, glaucoma drainage devices and retinal implants which help treat these disorders. Many new product launches catering to specific disorders and the development of innovative implant materials and designs to improve visual outcomes is also fueling market growth.
Increased governmental support and funding for eye care and related research
Governments across countries have been actively supporting initiatives to spread better awareness about eye care and vision disorders. Significant funding is also being allocated for research related to new implant designs, materials and surgical techniques. For instance, the US government allocates around $776 million annually for vision research through the National Eye Institute. The UK government has invested over £180 million for eye research through organizations like the National Institute for Health Research. Funding bodies also provide grants for clinical trials of new ocular implant products. This increased governmental backing is encouraging more R&D efforts and new product approval, benefiting the overall market.
Stringent regulatory environment poses a challenge for market growth
The development and commercialization of any new ocular implant requires lengthy clinical trials and approvals from regulatory bodies like the FDA and EMA to ensure patient safety. The pre-clinical testing, device evaluation and clinical investigation stages involve significant costs and lengthy review periods, making the approval process highly regulated and complex. Any issues during trials can delay approvals. Post-market surveillance is also mandated. This stringent regulatory environment increases risks and investment needs, acting as a deterrent especially for smaller players. Navigating the regulatory landscape requires expertise and compliance which poses operational and financial challenges. However, some initiatives to speed up reviews for devices addressing high unmet needs provide some relief. Nonetheless, regulations present a major restrain for quicker market expansion.
Ageing population represents a major opportunity
Population ageing is a significant global demographic trend, with the number of people aged 65 years and above projected to double from 703 million currently to 1.5 billion by 2050 according to the UN. The elderly are more susceptible to various ocular disorders due to physiological changes with increasing age. For example, age-related macular degeneration is the leading cause of blindness in developed countries in the 65+ demographic. Cataract prevalence also increases sharply post the age of 60 years. This large and growing aged base translates to a substantial patient pool needing ocular implant procedures in the coming years. Leveraging this opportunity through specially tailored product offerings, expanded availability and coverage will be important for market players going forward.
Increasing adoption of minimally invasive implantation techniques
A prominent trend in the ocular implant market has been the rising adoption of minimally invasive surgical techniques over conventional procedures. Implants are increasingly being designed to enable procedures like small incision cataract surgery and less invasive glaucoma surgeries which require only tiny incisions. This translates to benefits like reduced trauma, quicker recovery times, less pain and lower risks of infection for patients. For surgeons, it allows conducting procedures with enhanced precision using advanced equipment. Minimally invasive techniques are gaining popularity as they provide superior visual and clinical outcomes. Market players are investing in innovations augmenting this shift which is improving patient acceptance and driving the market overall.
The global ocular implants market is expected to reach USD 18.4 billion by 2025, growing at a CAGR of 6.7%, according to a new report by Grand View Research, Inc.
The increase in incidence of cataract is a major factor for this market’s growth.
Cataract has been identified as a leading cause of blindness globally, and this has encouraged many industry players and government organizations to develop ocular implants.Technological advancements and increasing acceptance of vision correction coupled with fast adoption of intraocular lenses in cataract surgeries are the factors supporting this market’s growth.
For instance, a new collagen glaucoma implant that inhibits the formation of scar and is biodegradable has been developed.Eye research institutes play a vital role in the technological advancements associated with intraocular lenses.
The advent of various advance intraocular lenses and increase in competition amongst players for development of better lenses as well as rise in investment on eye research institutes by government and nongovernment organizations are anticipated to fuel market growth.
Hence, owing to the rise in number of clinical trials pertaining to these lenses and increase in government expenditure on R, the market is expected to witness lucrative growth in the intraocular segment.In addition, increase in ophthalmic disorders and demand for better eye implants are creating abundant growth opportunities for this market, which is expected to increase the number of players in the market.Further Key Findings from the Report Suggest:Intraocular lenses, corneal implants, orbital implants, glaucoma implants, and ocular prosthesis are the key segments analyzed in this study.
This report studies the Ocular Drug Delivery System Market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers.
Find the complete Ocular Drug Delivery System Market analysis segmented by companies, region, type and applications in the report.The report offers valuable insight into the Ocular Drug Delivery System market progress and approaches related to the Ocular Drug Delivery System market with an analysis of each region.
The report goes on to talk about the dominant aspects of the market and examine each segment.Top Key Players: Ocular Therapeutix,Alimera Sciences,Allergan,Graybug Vision,Bausch Health,EyePoint Pharmaceuticals,Santen Pharmaceutical,Taiwan Liposome,Envisia Therapeutics,Clearside Biomedical.Get a Free Sample: https://www.reportsandmarkets.com/sample-request/global-ocular-drug-delivery-system-market-3941960?utm_source=techsite_medium=14The global Ocular Drug Delivery System market segmented by company, region (country), by Type, and by Application.
The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2021-2027.Market Segment by Regions, regional analysis coversNorth America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia etc.
)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Research objectives:To study and analyze the global Ocular Drug Delivery System market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2026.To understand the structure of Ocular Drug Delivery System market by identifying its various sub segments.Focuses on the key global Ocular Drug Delivery System players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Ocular Drug Delivery System with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Ocular Drug Delivery System submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.To strategically profile the key players and comprehensively analyze their growth strategies.The report lists the major players in the regions and their respective market share on the basis of global revenue.
This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.Table of Contents: Ocular Drug Delivery System MarketPart 1: Overview of Ocular Drug Delivery System MarketPart Civil Aircraft Nitrogen Service Carts: Global Market Status and Forecast by RegionsPart 3: Global Market Status and Forecast by TypesPart 4: Global Market Status and Forecast by Downstream IndustryPart 5: Market Driving Factor AnalysisPart 6: Market Competition Status by Major ManufacturersPart 7: Major Manufacturers Introduction and Market DataPart 8: Upstream and Downstream Market AnalysisPart 9: Cost and Gross Margin AnalysisPart 10: Marketing Status AnalysisPart 11: Market Report ConclusionPart Ocular Drug Delivery System: Research Methodology and ReferenceKey questions answered in this report What will the market size be in 2027 and what will the growth rate be?What are the key market trends?What is driving this market?What are the challenges to market growth?Who are the key vendors in this market space?What are the market opportunities and threats faced by the key vendors?What are the strengths and weaknesses of the key vendors?Get complete Report : https://www.reportsandmarkets.com/sample-request/global-ocular-drug-delivery-system-market-3941960?utm_source=techsite_medium=14About Us:Reports and Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt.
