Global Ocular Inserts Market: Overview
The demand for ocular inserts increased considerably in the past few years due to increasing incidences of glaucoma and other eye diseases. Application of ocular inserts seems a huge advancement in eye therapy. Ease of administration by nurse and patients and continual release of medication into eyes are few advantages of using ocular inserts.
End-users and solubility of ocular inserts are the two major categories in which the global ocular inserts market is bifurcated. Bio-erodible ocular inserts, insoluble ocular inserts, and soluble ocular inserts are the key segments under the solubility category. Of these, insoluble ocular inserts are likely to hold a larger share in the market over the projected period.
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The report contains detailed information on ocular inserts derived from primary and secondary research. Information is presented in a comprehensive manner that helps the readers to understand it more clearly and in a simple manner. It is gathered from various different sources but authentic sources such as government websites, international and national platforms, webinars, podcasts, and similar other sources. The emphasis is put on the key trends and opportunities created in the market and is divided into different segments.
Global Ocular Inserts Market: Trends and Opportunities
As per the data presented by the American Academy of Ophthalmology, more than 2.7 million people in the U.S. suffer from glaucoma. These people are generally above the age of 40 years. Apart from glaucoma, increasing cases of retinal vascular diseases has also come into notice that in turn boosted the demand in the global ocular inserts market. As ocular inserts help in easy delivery of drugs, its applications have increased considerably in eye therapy.
Extensive research and development taking place in the healthcare sector with an objective to develop innovative products to overcome complication in ocular treatment will benefit the growth of this market. In addition, faster clinical approvals from the government are expected to fuel demand in this market. Increasing bioavailability of newer drug delivery approach with a controlled dosage system is another crucial factor accelerating demand in the global ocular inserts market.
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On the other hand, limited information about the drug delivery systems and awareness about ophthalmic disorders especially in developing economies might hamper the growth of ocular inserts.
Global Ocular Inserts Market: Geographic Analysis
On the account of rising incidence glaucoma and other chronic diseases, North America dominates the global ocular inserts market. High healthcare expenditure, high disposable income among the people, and spreading knowledge about the benefits of using ocular drug delivery systems have further strengthened the dominance of this market. The rising number of elderly in developed regions also augments the demand for ocular inserts. The report has also covered few other regions including Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Among the developing regions, Asia Pacific shows growth at a significant rate in the global ocular inserts market. High investments made by governments in expanding the healthcare infrastructure and initiatives taken by them to provide better health facilities to the people who are blind. In addition, increasing incidence of glaucoma and increasing childhood blindness increased the demand for ocular inserts.
Global Ocular Inserts Market: Competitive Landscape
The report also includes a detailed analysis of the vendors operating in this market. It contains details about the key players and strategies used by these players. It stresses the key tools used by the vendors in order to gain a larger share in the market. Mergers and acquisition, expansion, collaboration, and partnership are the major strategic tools used by the vendors. Cost-effectiveness, expansion, product improvement, and innovations are largely integrated by prominent vendors. The researchers have analyzed few prominent players including Novartis AG, Ocular Therapeutix, Inc, EyeGate, Bausch & Lomb Incorporated, and few others.