According to TechSci Research report, “India Ophthalmic Clinical Trials Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2019-2029”, the India Ophthalmic Clinical Trials Market stood at USD 37.63 billion in 2023 and is anticipated to project an impressive growth in the forecast period with a CAGR of 5.42% through 2029. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
Clinical trials are research studies conducted to assess the efficacy and safety of novel medications or medical devices intended to address a health issue. Clinical trials may provide an opportunity for individuals to access promising new therapies that would otherwise be unavailable to them. The expansion of the market can be attributed to a variety of factors, including an increase in the incidence of eye diseases, a supportive regulatory framework, an increase in healthcare investment, and the availability of skilled labor. The growth of the market is being driven by several factors, including an increase in technological progress and the presence of international companies in the country, which provide an ideal platform for the development of the market.
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Using telemedicine technologies, patients can be consulted remotely, and their clinical trials can be monitored remotely. Smartphones, wearable sensors, and home monitoring systems are all available to researchers, allowing them to acquire real-time information on the eye health and treatment results of patients. This has led to an increase in patient recruitment and retention, as well as a decrease in the need for frequent clinic visits. India has made significant efforts to improve its clinical trial regulatory framework with the aim of attracting more research investments. In addition, many educated patients and healthcare facilities are expected to drive further growth in the market soon. The COVID-19 pandemic prompted a significant shift in the conduct of clinical trials across various medical fields, including ophthalmology. With the limitations posed by lockdowns, travel restrictions, and safety concerns, there was an increased adoption of virtual or decentralized clinical trial approaches. These approaches leverage technology to remotely collect data, monitor patients, and conduct trial activities.
Virtual trials allowed patients to participate from the comfort of their homes, reducing the need for frequent in-person visits. Remote patient monitoring involved using wearable devices, smartphone apps, and telehealth platforms to track patient health and gather data. Electronic informed consent (e-consent) platforms enabled patients to review and provide consent documents digitally. Virtual visits replaced in-person site visits for check-ups, assessments, and data collection. In some trials, investigational drugs were shipped directly to patients’ homes, ensuring continuity of treatment, and reducing the need for site visits. Telemedicine platforms facilitated communication between patients and healthcare professionals, allowing for virtual consultations and assessments. Digital health technologies enabled the collection of digital endpoints, such as visual acuity measurements and retinal images, remotely. Some trials utilized local healthcare providers as decentralized study sites, where participants could visit their regular healthcare facilities for trial-related assessments. As the prevalence of various eye conditions and diseases increases due to factors such as aging populations, changing lifestyles,
and environmental influences, there is a greater need to develop effective treatments, interventions, and preventive strategies. Ophthalmic clinical trials play a crucial role in addressing this demand and advancing our understanding and management of eye diseases. Many eye diseases still lack effective treatments or cures. Clinical trials are essential for testing and developing new therapies that can address unmet medical needs and improve patients’ quality of life. With advancements in genetics and precision medicine, there is a growing interest in tailoring treatments to individual patients’ genetic profiles. Clinical trials provide a platform for testing personalized approaches to eye disease treatment.
However, Access and Distribution and Data Privacy and Security are expected to slow down the growth of the market in the coming years.
The India Ophthalmic Clinical Trials Market segmentation is based on Product, Phase, Indication, Service Type, Sponsor Type, By Company, and Region.
Some of the major companies operating in the India Ophthalmic Clinical Trials Market include:
- 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
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“Certain areas, particularly in the Northeast, are projected to exert significant demand for ophthalmic products globally. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the India Ophthalmic Clinical Trials Market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
India Ophthalmic Clinical Trials Market by Product (Devices, Surgical Devices, Intraocular Lenses, Aspheric IOLs, Toric IOLs, Multifocal IOLs, Monofocal IOLs, Others), By Indication (Macular Degeneration, Glaucoma, Dry Eye Disease, Retinopathy, Uveitis, Macular Edema, Blepharitis, Cataract, Optic Neuropathy, Others ), by Phase (Preclinical, Discovery, Clinical, Phase I, Phase II, Phase III, Phase IV ), By Service Type (Protocol Designing, Site Identification, Patient Recruitment, Laboratory Services, Bioanalytical Testing Services, Clinical Trial Data Management Services, Others), By Sponsor Type (Pharmaceutical/biopharmaceutical Companies, Medical device companies, others), and by Region and Competition, Forecast & Opportunities, 2019-2029F has evaluated the future growth potential of India Ophthalmic Clinical Trials Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Ophthalmic Clinical Trials Market.
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