India Ophthalmic Clinical Trials Market to Grow with a CAGR of 5.42% through 2029
Rising cases of conjunctivitis and initiatives
taken by the government are the major drivers for the India Ophthalmic Clinical
Trials Market.
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.
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.
Browse
over XX market data Figures and spread through XX Pages and an in-depth TOC on
" India Ophthalmic Clinical Trials Market”
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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