The global ocular pain treatment market is expected to witness considerable growth due to increasing awareness about the eye disorders, technological advancement in ocular therapeutic and diagnostic test, and increasing number of lifestyle related ocular diseases. In addition, increasing geriatric population and increasing disposable income are further supporting the growth of the global ocular pain market.
The pharmaceutical companies are actively involved in the research and development of drugs for ocular pain. Loteprednol etabonate, a Mucus-Penetrating Particle platform technology based Phase III clinical trial drug of Kala Pharmaceuticals, Inc., is nanotechnology based products for the treatment of ocular pain.
Ocular pain is defined as the inflammation of middle layer of eye known as uvea. It can develop in optic nerve, blood vessels, muscles or other tissues that surround the eye. Many factors such as infection, allergy, surgery or trauma including blow to the eye, foreign body and chemical injury can lead to ocular inflammation. It is important to manage ocular pain, else it can affect other parts of eyes such as cornea, retina, sclera, conjunctiva and the vasculature. Ocular pain is caused by several conditions such as glaucoma, ocular herpes, shingles, optic neuritis, dry eye and refractive error.
A large number of pharmaceutical companies are constantly working for the research and development of ocular pain treatment. However, certain factors such as high treatment cost, less awareness about the eye disease among population and lack of favorable government policy are the key factors hindering the growth of the global market during the forecast period.
Geographically, North America is expected to be the largest market for ocular pain treatment owing to the favorable healthcare infrastructure and government initiatives, increasing number of research and development activities, and high awareness about the eye disease and its precautions. The U.S. contributed largest revenue to the North American ocular pain market and it is expected to remain the largest market globally, during the forecast period.
Some of the key players operating in the global ocular pain market are ICON Bioscience Inc., Xigen S.A., Sylentis S.A., Bayer AG, Bristol Meyer Squibb Company, Merck and Co., Inc., Sun Pharmaceutical Industries Ltd., Reata Pharmaceuticals, Inc., Kala Pharmaceuticals, Inc. and Ocular Therapeutix, Inc.