PUBLISHER: Grand View Research | PRODUCT CODE: 1301236
PUBLISHER: Grand View Research | PRODUCT CODE: 1301236
The global ophthalmic clinical trials market size is expected to reach USD 2.5 billion by 2030 at a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. Technological developments and a rising need for more efficient eye disease treatments are driving the market for ophthalmology clinical trials to expand quickly. Pharmaceutical firms, medical equipment producers, and Contract Research Organizations (CROs) are a few of the major contributors to this sector.
The rising incidence of eye conditions, including glaucoma, macular degeneration, and diabetic retinopathy, is driving the industry. As the global population ages and eye illnesses become more common, the market for ophthalmology clinical trials is further anticipated to grow in the coming years. Additionally, developments in genetic research and personalized medicine are likely to spur innovation in this area, creating more specialized and efficient treatments for eye illnesses.
The demand for clinical trials will rise due to the increasing focus of ophthalmic researchers to develop and market novel ocular medicines. Furthermore, the initiatives adopted to fulfill the unmet needs in developing economies regarding rare ocular conditions are anticipated to support the growth of the ophthalmology clinical trials market. For instance, nearly 2.2 billion people are estimated to have separation or close-up vision impairment disorders, and of these, at least half, or 1 billion cases, can be avoided with the aid of appropriate treatment, according to the World Health Organization's October 2021 report on visually impaired people's impairment.
The COVID-19 pandemic has significantly impacted the ophthalmology clinical trials market. Clinical trials have been hampered by the epidemic, which has delayed the start of new trials and slowed patient enrollment. Additionally, several clinical study locations had to close, significantly reducing patient visits and data collecting. The epidemic has hastened the deployment of remote and virtual clinical trial technology, allowing for the continuation of ongoing trials and the start of new ones. Some of the difficulties brought on by the pandemic, including travel limitations and social seclusion requirements, have been mitigated partly by adopting these technologies.
Ophthalmic Clinical Trials Market Highlights
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