Why Are Pharmaceutical Businesses Increasingly Investing in Ocular Drug Delivery Systems?

Highlights

• Introduction
• Advantages of ocular drug delivery systems
• Product launches in the sector

 

Different types of ailments require different drug delivery systems. In the case of eye infections, specialized drug delivery has been devised owing to the unique anatomy and physiology of the eye. This drug delivery system called ocular drug delivery is now widely used to treat various eye diseases such as macular degeneration, dry eye syndrome, diabetic retinopathy, etc.

Growing prominence of ocular drug delivery systems in the healthcare sector

Medical studies have shown that the incidence of eye diseases has increased across the globe. In fact, as per the data published by the World Health Organization, around 2.2 billion people across the globe suffer from near or distant eye impairment. Another medical study has pointed out that more than 20 million Americans aged more than 40 years suffer from eye diseases like cataracts. Along with the increasing prevalence of eye disorders, the rising proportion of the geriatric population is also expected to expand the scope of the ocular drug delivery industry.

Along with these factors, the advantages of ocular drug delivery systems are also expected to play an important role in the growth of this industry. One of the biggest advantages of these drug delivery systems is the convenience and safety associated with them. The eyes are some of the most accessible organs for direct administration of a drug or medication. Ocular drug delivery systems are designed in such a way that the system can handle the drug release and ensure that the drug remains at the target site for a prolonged period. Ophthalmic studies revealed that ocular tissues have certain static barriers at various segments of the eye including cornea, retina, sclera, etc. Similarly, there are also dynamic barriers which, together with the static barriers, hamper the bioavailability of drugs to these tissues. To counter this, ocular drug delivery systems have been devised that increase the concentration of drugs at the targeted sites.

Another important advantage of these drug delivery systems is that they allow for a sustained and controlled administration of drugs. Moreover, the accuracy and uniformity achieved while administering drugs and medications to the targeted site are also quite high. Also, a critical aspect of patient convenience and safety is that these drug delivery systems allow for self-administration of drugs and the side effects associated with this drug delivery system are also quite lower.

How have private companies contributed to this industry’s growth in the past few years?

The North America and Asia-Pacific regions have been at the forefront of the ocular drug delivery sector in the past few years. The rising geriatric population is the major reason behind this domain’s growth in these regions. Among the countries in this region, India is expected to have the fastest growth rate among all and surge ahead at a CAGR of 7.4% in the 2023-2032 period. Along with this, many private companies have launched ophthalmic treatment solutions which has helped in the rise of this industry.

Recently, in June 2023, Novaliq GmbH, a leading biopharmaceutical company, announced that its ophthalmic solution, VEVYE had received FDA approval. VEVYE is the first and only ophthalmic drug that has been developed to cure dry eye disease (DED). The FDA approval has enabled the company to start its sale to the public and is expected to help the company increase its footprint in the industry in the coming period.

A similar FDA approval was granted in December 2021 to VUITY eye drop, an ophthalmic solution developed by AbbVie Inc., a major pharmaceutical company. VUITY eye drop’s launch was widely covered by the medical world as it became the world’s first eye solution to treat age-related blurry near vision. The product launch and the subsequent FDA approval have increased the trust of the public regarding ocular drug delivery systems and are predicted to help the market flourish in the years to come.

To summarize, the ocular drug delivery industry has experienced major growth owing to the rising incidence of eye-related diseases and the growing proportion of the geriatric population across the globe. The advantages offered by these drug delivery systems have also played a major role in the expansion of the industry, especially in North America and Asia-Pacific region countries.

For tips and suggestions on how businesses must capitalize on the opportunities offered by the industry, feel free to contact us.

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