Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "India Ophthalmic Clinical Trials Market Size, Share & Trends Analysis Report By Product (Devices, Drugs/Pharmaceuticals), By Indication, By Phase, By Service Type, By Sponsor Type, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The projected trajectory of India's ophthalmic clinical trials market suggests an escalation to USD 61.01 million by 2030, riding a robust CAGR of 6.58% from 2023 to 2030. This growth narrative is underpinned by several factors, including the mounting prevalence of ocular disorders, a supportive regulatory landscape, amplified investments in healthcare infrastructure, and the availability of skilled professionals.
Technological advancements coupled with multinational corporations channeling investments into the country present ideal avenues for market expansion. Telemedicine technologies have catalyzed remote consultations and patient monitoring during clinical trials. Devices for remote monitoring, like smartphones, wearable sensors, and home monitoring systems, enable real-time data collection on patients' eye health and treatment outcomes. These advancements streamline patient recruitment and retention while mitigating the need for frequent clinic visits.
Moreover, the increasing prevalence of eye conditions such as macular degeneration, diabetic retinopathy, and glaucoma serves as pivotal drivers for the growth of the ophthalmic clinical trials industry. As India's population ages and the incidence of these conditions surges, the demand for effective treatments and therapies escalates. The arena of genetic research and personalized medicine also promises to foster innovation, yielding specialized and efficient treatments for ocular diseases. These collective factors form a robust foundation for market growth in the foreseeable future.
Report Highlights
- In 2022, the drugs/pharmaceuticals segment claimed the highest market share within the product category. The escalation of eye disorders and rising demand for effective treatment options fuel this segment's expansion.
- The retinopathy segment took center stage in 2022 in the indication category, propelled by the mounting incidence of diabetes in the country.
- The clinical phase segment secured the market's dominance in 2022. The participation of pharmaceutical companies, research entities, and healthcare institutions across various phases of clinical trials contributes to this growth.
- Within the service type segment, the clinical trial data management services segment stood out as a frontrunner in 2022. This segment enhances efficiency, accuracy, and compliance in ophthalmic clinical trials within the country.
- The pharmaceutical/biopharmaceutical companies category took the lead among sponsor types in 2022. These entities invest substantial resources in research and development (R&D) endeavors centered on ophthalmic treatments and interventions.
Market Dynamics
Market Driver Analysis
- Favorable Regulatory Environment: Supportive regulations contribute to a conducive environment for conducting ophthalmic clinical trials.
- Increasing Prevalence of Eye Disorders: The rising occurrence of eye conditions accentuates the demand for innovative treatments.
- Increasing Investments in Healthcare Infrastructure: Amplified investments bolster clinical trial capabilities in the ophthalmic domain.
Market Restraint Analysis
- Recruitment and Retention of Participants: Challenges in participant recruitment and retention can impede the smooth progress of clinical trials.
- Global Competition: International competition within the clinical trials space may pose challenges to local players.
Company Profiles
- ProRelix Services LLP
- Abiogenesis Clinpharm Pvt Ltd.
- Veeda Clinical Research
- Catawba Research, LLC
- Novotech
- Catalyst Clinical Services Pvt. Ltd.
- Navitas Life Sciences
- Vedic Lifesciences Pvt Ltd.
- Vimta Labs Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $36.8 million |
| Forecasted Market Value (USD) by 2030 | $61.01 million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | India |
For more information about this report visit https://www.researchandmarkets.com/r/drysqe
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
