North America Ocular Drug Delivery Market Growth and Forecast by 2028

The ocular drug delivery market in North America is expected to grow to US$ 10,622.77 million by 2028 from US$ 6,286.54 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028.

Cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, and unaddressed refractive error are among the leading causes of blindness or low vision. Most of the population have or had some eye disorder in their lifetime. As per the World Health Organization (WHO) report "Blindness and vision impairment" published in February 2021, around 2.2 billion people worldwide have a near or distance vision impairment. It has also estimated that the leading cause of vision loss or low vision is cataract (94 million) and uncorrected refractive errors (88.4 million). Further, the other common causes of vision loss are glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), and trachoma (2 million). According to the National Eye Institute (NEI), in the US, the number of people with cataracts is expected to double from 24.4 million in 2010 to about 50 million in 2050. Similarly, as per the Factsheet Glaucoma: Facts & Figures 2019, over 3 million people in the US were living with glaucoma.  Moreover, as per the Canadian Survey on Disabilities 2017, 1.5 million Canadians had a sight loss, and around 5.59 million had an eye disease which could further lead to sight loss.

Amidst the COVID-19 crisis, the healthcare institutions have witnessed decrees in inpatient visits to clinics to prevent the spread of the COVID-19 in the first and second quarters of 2020. As per the recent study by CDC, the number of medical emergency department (ED) visits has declined 42% during the early COVID-19. As a result, the number of elective eye procedures performed per week in hospitals and clinics has decreased over time. According to an article in Ophthalmology Times, elective procedures have decreased in countries such as the United States. The number of patient visits to examination facilities has reduced by 15%. During the COVID-19 pandemic, ophthalmology lost a considerable share of patient volume; the volume of ophthalmic practice is predicted to have decreased by 81%, owing to a decline in patients seeking care for glaucoma and cataracts surgery.

With the new features and technologies, companies can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the ocular drug delivery market. The North America ocular drug delivery market is expected to grow at a good CAGR during the forecast period.

North America Ocular Drug Delivery Market Segmentation

North America Ocular Drug Delivery Market – By Technology

• Implantable Ocular Drug Delivery Systems
• Particulate Drug Delivery Systems
• Nano-Particle Drug Delivery System
• Others

North America Ocular Drug Delivery Market – By Formulation Type

• Solution
• Ointment
• Suspension
• Emulsion
• Liposomes and Nanoparticles

North America Ocular Drug Delivery Market – By Disease type

• Cataract
• Dry Eye Syndrome
• Macular Degeneration
• Glaucoma
• Diabetic Retinopathy
• Diabetic Macular Edema
• Others

North America Ocular Drug Delivery Market – By End User

• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgical Centers

North America Ocular Drug Delivery Market – By Country

• US
• Canada
• Mexico

North America Ocular Drug Delivery Market – Companies Mentioned

• AbbVie Inc.                                              
• Bausch Health Companies Inc.            
• Novartis AG                                            
• Clearside Biomedical, Inc                      
• Ocular Therapeutix, Inc.                       
• Envisia Therapeutics                             
• Alimera Sciences, Inc.                           
• EYEGATE PHARMACEUTICALS, INC     

North America Ocular Drug Delivery Report Scope