Human eyes have the most complex and advanced physiological defense barriers. Due to these barriers, efficient delivery of ocular drugs is a major challenge in the treatment of eye diseases and disorders. Posterior eye diseases such as retinopathy are the leading causes of impaired vision and blindness globally. The topical and systemic administration of drugs such as eye drops, ointments, intravitreal injections, intraocular implants, contact lenses, and emulsions are the perennial approaches employed to treat ocular diseases. However, these modalities are inefficient due to the low bioavailability of the active drug and the potential for drug-related cytotoxicity to the ocular tissue. In this review, the conventional approaches in ocular drug delivery systems (DDSs) are explored and the limitations associated with each technique are elucidated. A comparison between the different DDSs is presented, showing the most effective treatment techniques available to date. In addition, this review presents recent advances in the field of nanocarriers and microcarriers used in ocular drug delivery systems such as nanoparticles, nano-suspensions, nanofibers, nanogels, nano-liposomes, nano micelles, dendrimers, contact lens, microneedle, and implants. Further, this review identifies the utility of nano-carriers in enabling the development of new-generation ocular DDSs with low toxicity, high efficiency, and high stability of targeted drug delivery systems to overcome the limitations observed with conventional ocular DDSs. In addition, this manuscript sheds light on the incidence and unique landscape of ocular diseases in the United Arab Emirates (UAE), and the potential for employing novel ocular DDSs for targeted treatment of conditions such as diabetic retinopathy in the UAE. It also discusses the putative role genetic variants of the VEGF gene may play in predisposing the local population in the UAE to developing posterior eye segment diseases such as retinopathy.