OCULAR DRUG DELIVERY TECHNOLOGY MARKET ANALYSIS
Increasing need for better and effective treatment options and increasing eye diseases prevalence is expected to boost growth of the ocular drug delivery technology market
Incidence of ophthalmic diseases and disorders in the recent past years has increased significantly due to factors such as rising geriatric population (leading to macular degeneration and cataract), excessive strain on eyes owing to long working hours, and increasing diabetes prevalence leading to retinopathy. Diabetes is a major cause of retinopathy and according to World Health Organization (WHO), the number of people with diabetes was 422 million in 2014 which is expected to increase in the near future.
Incidence of age-related macular degeneration is also increasing and according to International Agency for the Prevention of Blindness, 196 million people are expected to have macular degeneration by 2020. This is expected to support growth of the market over the forecast period.
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