Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the ocular excipients market is expected to register a compound annual growth rate of 7.3% between 2021 and 2031.
Launch of People-centered Eye Care Services Encouraging Ocular Excipients Sales Worldwide
Fact.MR’s latest report provides information about key factors affecting growth in the ocular excipients market. It presents insights into degree of competition, factors encouraging product development, latest trends, and hidden opportunities in the ocular excipients market. For the purpose of the study, the market has been segmented in terms of product type, source, end-user and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to the latest Fact.MR analysis, the ocular excipients market is expected to register a compound annual growth rate (CAGR) of 7.3% between 2021 and 2031.
Growth of ocular excipients market can be attributed to the rising prevalence of eye-related disorders, growing demand for targeted ocular drug delivery techniques, and increasing number of approvals for novel ocular excipients.
Administering treatment and therapeutics to the human eye is a challenging task due to anatomy of eye. An ideal ocular formulation should overcome the multiple barriers of ocular tissues and release the drug at the target site without causing any damage. For this reason, polymeric carriers and excipients are being used to enhance ocular drug delivery.
Ocular excipient forms an important component of ophthalmic drugs, which are used to treat eye related disorders such as retinal disorders, dry eye disease, and glaucoma. The structure of a dosage form and its function in drug delivery largely depends on the excipients. They play a vital role in maintaining the tonicity, pH, stability, viscosity and sterility of the formulation in ocular drugs.
According to the World Health Organization (WHO), around 7.7 Mn people suffer from glaucoma while 3.9 Mn people suffer from diabetic retinopathy. The increase in prevalence of eye disorders is expected to fuel the demand for ocular excipients.
Growing awareness regarding health among people along with increasing support from government and other health organizations is positively impacting the growth of the market. For instance, in August 2020, WHO assembly passed a resolution on “integrated, people-centered eye care, including preventable blindness and vision impairment”, which focuses on the need to integrate people-centered eye care services into health systems.
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According to the report, North America dominates the ocular excipients market owing to the presence of leading excipient manufacturers and pharmaceutical companies, increasing investments in healthcare infrastructure and rising product approvals by healthcare organizations.
“Development of novel drug delivery systems along with ongoing product approvals will facilitate the growth of ocular excipient market during the forecast period. Major excipient manufacturers are expanding their global footprint by establishing new manufacturing plants across emerging markets such as India and China,” says the Fact.MR analyst.
Key Takeaways from Ocular Excipients Market Survey
- North America leads the ocular excipients market on the back of highly advanced healthcare infrastructure and liberty of choosing pharmaceutical excipients which fits the USFDA approval mechanism.
- The U.S. and Canada are projected to emerge as the most attractive markets for ocular excipients in North America during the forecast period.
- With increasing government support and recent approvals from the European Union (EU), Europe is expected to emerge as the second most lucrative market for ocular excipients in 2021.
- In terms of end user, pharmaceutical companies will continue to dominate the ocular excipients market during the forecast period.
Key Drivers
- Increasing prevalence of eye related disorders especially across low- and middle-income regions is driving the demand for ocular excipients. As per the WHO, eye related disorders are more frequent in low- and middle-income regions as compared to high income ones. This creates huge demand for ocular excipients in these regions.
- Rising demand for better ophthalmic drug delivery systems is boosting the sales of ocular excipients.
Key Restraints
- Ineffective nature of some ocular excipients due to poor penetration is expected to hamper the growth of the market.
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Competitive Landscape
Companies operating in the ocular excipients market are focusing on developing better ocular excipients which can enhance the drug penetration and effectiveness. They have adopted various growth strategies such as partnerships with pharmaceutical companies, collaborations, advanced drug developments and approvals, mergers and collaborations to stay relevant in the market.
- In June 2020, Evonik launched RESOMER Precise platform of custom functional polymeric excipients to allow pharmaceutical companies to control the release profile of their parenteral drug products with high accuracy and precision.
- In February 2020, ReForm Biologics LLC, a pharmaceutical technology company developing innovative platforms to improve biologic formulations and MilliporeSigma announced licensing agreement and collaboration for excipient development and commercialization
Some of the prominent players operating in the ocular excipients market profiled by Fact.MR are:
- Anton Paar
- BASF
- Beneo
- Evonik
- EXCiPACT
- Fuji Chemical Industries USA, Inc.
- InVitria
- Innophos
- JRS Pharma
- IOI Oleochemical
- Millipore Sigma
- Mallinckrodt Pharmaceuticals
- Pfanstiehl
- Perkin Elmer
- Natoli
- DFE Pharma
More Insights on the Global Ocular Excipients Sales Outlook
Fact.MR provides an unbiased analysis of ocular excipients market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for ocular excipients with a detailed segmentation on the basis of:
Product type:
- Dilutents
- Glidants
- Disintegrants
- Binders
- Lubricants
- Tablet coatings and films
- Colouring agents
Source:
- Organic Compounds
- Inorganic Compounds
- Natural Polymers
- Synthetic Polymers
- Silica Compounds
- Water-soluble Compounds
End User:
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Manufacturing Organizations (CMOs)
- Contract Development & Manufacturing Organization (CDMO)
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Key Questions Covered in the Ocular Excipients Market Outlook Report
- The report offers insight into ocular excipients demand outlook for 2021-2031
- The market study also highlights projected sales growth for ocular excipients market between 2021 and 2031
- Ocular excipients market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Ocular excipients market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain –
Ocular Drug Delivery Technology Market- The ocular drug delivery market is undergoing extensive research and development. Shortages in such medications’ bioavailability are a major growth driver. Micellar formulations and derivative active pharmaceutical ingredients have proved to offer a lot of room for advancement, according to studies. The global ocular drug delivery technology market is expected to grow at a healthy rate based on these factors. The high acceptance of intraocular implants, owing to their targeted action and long-term performance, has enhanced the technology’s growth prospects.
Intraocular Filtration Devices Market- The intraocular filtration device is one of the solutions that allows the eye’s drainage system, which has been damaged by glaucoma, to function properly. The market for intraocular filtration devices is primarily driven by an increase in the number of glaucoma patients, technical advancements, rising disposable income, and early treatment uptake. Glaucoma treatments, both medical and surgical, are tackling the global danger of glaucoma in an effort to significantly reduce the occurrence of preventable blindness around the world. Aside from its numerous benefits, there has been a trend toward traditional treatment.
Opthalmic Drugs Market- Over the last few years, there has been an upsurge in the frequency of eye-related disorders, particularly in developing countries. Visual impairment is a worldwide public health issue that has a severe influence on both physical and mental health. The growing number of visually impaired patients is expected to increase demand for ophthalmology drugs in healthcare. The worldwide ophthalmology drugs market is expected to benefit from an increasing pool of ophthalmology patients, as well as increased approvals for the launch of therapeutic drugs.
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