"Designing Growth Strategies is in our DNA"
The eye is a very delicate and essential part of the human body. The global number of eye diseases are growing at a significant rate. According to the National Eye Institute, in 2014, almost 2.1 million people in the U.S. have advanced age-related muscular degeneration (AMD), which is projected to increase to 3.7 million by the year 2030. This also raises needs to develop ocular drug delivery methods for improved and effective results.
Ocular inserts are prominently used in ocular drug delivery for the treatment of eye problems such as dry eyes, glaucoma, decreased corneal sensitivity, burning eyes, and others. Ocular inserts are thin, sterile, multi-layered, drug-impregnated, semisolid or solid consistency devices which are placed into the conjunctival sac of the eye, whose size and shape are designed specifically for the ophthalmic application. The ocular inserts are inserted into the lachrymal canaliculus region of the eyelid. Many developments are seen in the global ocular inserts market. In December 2018, Ocular Therapeutix, Inc., one of the prominent players in eye care market, received FDA approval for their ocular insert, ‘DEXTENZA,’ for intracanalicular use in the treatment of pain associated with post-ophthalmic surgery, which is expected to accelerate the global ocular inserts market.
To gain extensive insights into the market, Request for Customization
The growth in global ocular inserts market is mainly driven by the increasing eye care demand and favourable health reimbursement. The increased use of ocular inserts for drug delivery is one of the major drivers which is projected to favour the growth in global ocular inserts market.
However, the lack of skilled eye surgeons in under developed countries and lack of awareness regarding ocular inserts are the major restraining factors for growth in the global ocular inserts market.
Some of the major companies that are present in the global ocular inserts market are Novartis AG, Bausch & Lomb Incorporated, Ocular Therapeutix, Inc., EyeGate, etc.
By Product Type
· Insoluble Inserts
· Soluble Inserts
By End User
· Speciality Clinics
· Ambulatory Surgical Centers
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The hospital segment is expected to dominate the global ocular inserts market in terms of revenue during the forecast period due to the increasing number of eye surgeries. According to the American Academy of Ophthalmology, 2 million cataract surgeries are done each year in the U.S., which implies a growth in the ocular inserts market, as ocular inserts are also used for pain relief after surgery.
In North America, the ocular inserts market is projected to grow in the forecast period, due to the increase in the prevalence of eye disease and advancements in ocular drug delivery techniques. According to National Eye Institute, in 2014, 2.7 million people in the U.S. were suffering from glaucoma, that is estimated to reach up to 4.3 million by 2030, which will further boost the ocular inserts market in this region. In Europe and the Asia Pacific, the ocular inserts market is estimated to expand during the projected period due to the increased government efforts for setting up tertiary eye institutes.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry