The increasing demand for eye care is expected to favor growth of the global ocular inserts market, says Fortune Business Insights in a report, titled “Ocular Inserts Market Size, Share and Global Trend by Product Type (Insoluble Inserts, Soluble Inserts), By End User (Hospital, Speciality Clinics, Ambulatory Surgical Centers, Others), and Geography Forecast till 2026.’’ Rising government reimbursement policies is likely to propel growth of the global ocular inserts market.
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Some Of The Major Companies That Are Present In The Global Ocular Inserts Market Are
- Novartis AG
- Bausch & Lomb Incorporated
- Ocular Therapeutix, Inc.
- EyeGate, etc.
As Per the report, the increasing prevalence of age-related muscular degeneration is expected to aid the growth of the global ocular inserts market. According to the National Eye Institute, in 2014, almost 2.1 million people in the U.S. have advanced age-related muscular degeneration (AMD), which is projected to increase to 3.7 million by the year 2030. This also raises needs to develop ocular drug delivery methods for improved and effective results
The report focuses on the rising global inclination towards eye care and distinctively provides information combined with profound data to companies aiming to enhance their business. The report includes market drivers, detailed segmentation and key industrial development besides updating on the factors hindering the growth of the global ocular inserts market.
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- Insoluble Inserts
- Soluble Inserts
By End User
- Speciality Clinics
- Ambulatory Surgical Centers
Rising Utilization of Ocular Inserts for Drug Delivery Will Enable Growth
The increasing demand for eye care is expected to boost the global ocular inserts market revenue. The rising favourable health reimbursement policies is also likely to encourage the growth of the global ocular inserts market. Furthermore, launch of ‘DEXTENZA’ is likely to enable growth of the global ocular inserts market. For instance, Ocular Therapeutix, Inc., received FDA approval to their ocular insert, ‘DEXTENZA’, for intracanalicular use in the treatment of pain associated with post-ophthalmic surgery.
Moreover, the release of positive three-month clinical data on Bimatoprost SR (Sustained-Release) is also expected favor growth of the global ocular inserts market. For instance, Allergan plc announced the release of positive three-month clinical data on Bimatoprost SR (Sustained-Release), a biodegradable implant intended to reduce intraocular pressure in patient having ocular hypertension. In addition, the rising use of ocular inserts for drug delivery is expected to further augment the growth of the global ocular inserts market.
However, the lack of skilled eye surgeons in underdeveloped nations and lack of awareness regarding ocular inserts are the factors predicted to hamper the growth in the global ocular inserts market.
Rising Prevalence Of Eye Disease Will Stimulate Growth In North America
Geographically, the global ocular inserts market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. In North America, the ocular inserts market is predicted to grow during the forecast period due to the rising prevalence of eye disease and advancements in ocular drug delivery techniques.
According to National Eye Institute, in 2014, 2.7 million people in the U.S. were suffering from glaucoma, that is estimated to reach up to 4.3 million by 2030, the trend will further boost the ocular inserts market growth in this region. In Europe and the Asia Pacific, the ocular inserts market is estimated to expand significantly during the forecast period owing to the increasing government policies for setting up tertiary eye institutes.
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