NewswireToday - /newswire/ - Mountain View, CA, United States, 12/09/2008 - Participants in the U.S. ocular drug delivery market are all set to experience a spurt in revenue activity, since the highest rates of serious ocular disease prevalence are among the aged, who comprise the fastest growing population segment in the U.S.
This statistic has highlighted the need for more effective ophthalmics, encouraging research in innovative ocular drug delivery methods.
New analysis from Frost & Sullivan (pharma.frost.com), U.S. Ocular Drug Delivery Market, finds that the market earned revenues of $4.74 billion in 2007 and estimates this to reach $7.56 billion in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end-users, and other industry participants with an overview of the U.S. ocular drug delivery market, please send an email to Johanna Haynes, Corporate Communications, at johanna.haynes[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you via email.
While ease-of-use is one of the primary factors that drug manufacturers consider when catering to this demographic, they are also investing significant funds for developing extended release formulations with increased bioavailability.
“Advancements in formulation technologies could lead to novel drugs, more efficacious reformulations of existing therapies, and reduced toxicities due to novel delivery mechanisms,” explains Frost & Sullivan Research Analyst Misty Hughes. “While topical administration will remain a mainstay in the treatment of most ocular disorders, sustained release formulations or devices to achieve optimum therapeutic drug levels will boost research in this area.”
The R&D process, however, involves lengthy and costly clinical trials, which often impede endeavors to introduce new products. Market entrants not only have limited funds for conducting clinical trials, but are also challenged to find patients willing to participate in them.
Pharmaceutical and biotechnology companies will be eager to find solutions to such market barriers since effective lifecycle management and a strong pipeline are vital to their success. Therefore, it is crucial for companies to seek out mutually beneficial research partnerships.
“Smaller drug delivery and formulation companies must seek out lucrative licensing and development partnerships with larger companies to defray the costs of bringing a drug to market,” notes Hughes. “Through such collaborations, smaller companies receive the funding and human capital they need to facilitate the development of their technologies and compounds, while large companies proactively manage their pipelines by keeping a broad portfolio of potential new products.”
Market participants need to rely on direct-to-consumer (DTC) marketing to drive home the extensive benefits that new formulations offer – including new treatment regimens requiring fewer, less-invasive administrations – to expand customer base and revenue growth.
“There are many public awareness initiatives such as ‘Raising America's Eye-Q’, aimed at general education regarding age-related macular degeneration (AMD),” observes Hughes. “EyeCare America provides awareness about particularly serious conditions as well as facilitates access to medical eye exams and treatment for up to one year at no cost for eligible seniors.”
U.S. Ocular Drug Delivery Market is part of the Pharmaceuticals & Biotechnology Growth Partnership Service program, which also includes research in the following markets: South African ophthalmology pharmaceuticals market, U.S. leading ophthalmic diseases market, and U.S. therapeutic monoclonal antibodies markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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