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HEALTHCARE | Drug Delivery
ocumedic.net

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Corporate Minority | Alive

About OcuMedic

OcuMedic develops drug-eluting therapeutics leans/clear corneal bandage for the delivery of drugs for the global ophthalmic market.

OcuMedic Headquarter Location

Corporate Research & Development Laboratories

Mullica Hill, New Jersey, 08062,

United States

Latest OcuMedic News

09:30 ET Worldwide Ophthalmic Drug Delivery Devices Industry to 2030 - Partnerships Between Companies and Ophthalmic Clinics Pre...

Sep 15, 2021

News provided by Share this article Share this article The global ophthalmic drug delivery devices market report highlights that the market was valued at $295.4 million in 2020 and is expected to reach $537.8 million by the end of 2030. The market is expected to grow at a CAGR of 6.17% during the forecast period from 2021 to 2030. The scope of the global ophthalmic drug delivery devices market involves various drug delivery devices used in ophthalmic drug delivery. The considered devices include pre-filled syringes, multidose eyedroppers, drug-eluting contact lenses, technology-enabled add-on devices, mist sprayers, squeeze dispensers, and other devices such as tubes and ocular inserts. The global ophthalmic drug delivery devices market comprises various key medical device companies and emerging companies. The major medical device companies operating in the market include Becton, Dickinson and Company, Nipro Corporation, Teruo Corporation, and West Pharmaceutical Services, Inc. Furthermore, various ophthalmic drug delivery device manufacturers such as Aero Pump GmbH, AptarGroup, Inc., Bausch Health Companies Inc., EyePoint Pharmaceuticals, Inc., Gaplast GmbH, Gerresheimer AG, Jotteq Inc., Nemera, Ocular Therapeutix, Inc., Owen Mumford, and Silgan Holdings Inc. also operate in the market. Additionally, owing to the rising technology integration, various emerging companies such as Kedalion Therapeutics, Inc., Re-Vana Therapeutics, Inc., Biocorp, and Ocumedic, Inc. are also present in the market and are developing advanced ophthalmic drug delivery devices. Key questions answered in the Global Ophthalmic Drug Delivery Devices Market Report What has been the impact of COVID-19 on the global ophthalmic drug delivery devices market? What are the key technological trends influencing the global ophthalmic drug delivery devices market, and what is their potential in short-, mid-, and long-term duration? What are the key regulations impacting the global ophthalmic drug delivery devices market? Who are the key players in the global ophthalmic drug delivery devices market? Which key strategy was most extensively used in the global ophthalmic drug delivery devices market? What are the key factors influencing the growth of the global ophthalmic drug delivery devices market? What are the major opportunity areas for the companies operating in the market? Which product sub-category is projected to witness accelerated growth in the global ophthalmic drug delivery devices market during the forecast period 2021-2030? Which formulation type is projected to hold the largest share in the global ophthalmic drug delivery devices market during the forecast period 2021-2030? What are the major sales channels in the global ophthalmic drug delivery devices market, and what is their growth potential during the forecast period 2021-2030? Who are the key end users, and what is their respective share in the global ophthalmic drug delivery devices market? What are the major key findings for the global ophthalmic drug delivery devices market across various regions? The factors driving growth include increasing prevalence of ocular disorders, development of novel drug dispensers, integration of digital solutions in ophthalmic drug delivery devices, and regular funding cycles for emerging companies. The restraints for the global ophthalmic drug delivery devices market include high upfront cost of the advanced ophthalmic drug delivery devices and prolonged regulatory approval process. Furthermore, there are various opportunities in the market that hold considerable growth potential. Entry of regional companies in the global ophthalmic drug delivery devices market, partnerships between companies and ophthalmic clinics, and inclusion of nanotechnology in ophthalmic drugs formulation are the key opportunity areas in the global ophthalmic drug delivery devices market. Key technology trends such as the sustained drug delivery, connected devices for medication adherence, small molecules for drug delivery, and liquid sprays are anticipated to influence the global ophthalmic drug delivery devices market. The global ophthalmic drug delivery devices market is in early stages of technology integration. A limited number of patents have been filed in the global market between January 2016-July 2021. According to World Intellectual Property Organisation (WIPO), there were only 148 patents filed pertaining to the global market, with the highest being filed in 2017 (46). During January 2018-June 2021, the global ophthalmic drug delivery devices market witnessed 54 key developments. Regulatory and legal activities were the most actively employed strategies, followed by mergers and acquisitions. The key companies that received regulatory approvals between January 2018-June 2021 included Ocular Therapeutix, Inc., AptarGroup, Inc., EyePoint Pharmaceuticals, Inc., Nemera, Johnson, and Johnson Medical Devices Companies, Bausch and Lomb Incorporated, Ocumedic, Inc, and Terumo Corporation. Similarly, several partnerships took place between January 2018-June 2021. The aim of strategic partnerships includes new product development and business expansion. New product launches are one of the primary strategies adopted by new companies to enter the global ophthalmic drug delivery devices market. Companies have also been working on upgrades for their existing products. Between January 2018-June 2021, several new products were launched in the global ophthalmic drug delivery devices market. Companies such as Gerresheimer AG, Hoffman Neopac AG, Ocular Therapeutix, Inc., and Silgna Holdings, Inc. launched their products in the mentioned period. Furthermore, funding activities are critical for the entry and operation of start-ups in the global ophthalmic drug delivery devices market. Re-Vana Therapeutics, Credence MedSystems, Inc., and Kedalion Therapeutics, Inc. are the prominent companies in the global ophthalmic drug delivery devices market that have received funding for their product development and R&D efforts. Two business models, namely, business-to-customer (B2C) and business-to-business (B2B), are operational in the global ophthalmic drug delivery devices market. The device manufacturers often employ both the business models for ensuring a prominent local and global presence. Moreover, owing to the emergence of add-on devices, the adoption of B2C business model is projected to increase in the market. Impact of COVID-19 on Global Ophthalmic Drug Delivery Devices Market In the short term, i.e., 2-4 years from 2020, COVID-19 would have a medium impact on the global ophthalmic drug delivery devices market. The demand for add-on devices is anticipated to be high during this timeframe. 5-10 years from 2020, the resumption of elective surgeries and normalization of the supply chain would be the key factors for market recovery. Finally, in the long term, i.e., 8-12 years from 2020, the reinstatement of supply chain and entry of advanced ophthalmic drug delivery devices are expected. Key Topics Covered:

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OcuMedic is included in 1 Expert Collection, including Medical Devices.

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Medical Devices

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Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. Excludes CDMOs/CMOs. *Columns updated as regularly as possible.

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