Jan 18, 2022   SOURCE: BusinessWire

Global Ophthalmic Packaging Market (2021 to 2027) - by Dose, Material, Type and Region - ResearchAndMarkets.com

The "Global Ophthalmic Packaging Market By Dose (Multi Dose and Single Dose), By Material (Plastic, Glass and Other Materials), By Type (Prescription and OTC), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Ophthalmic Packaging Market size is expected to reach $20.6 billion by 2027, rising at a market growth of 12.1% CAGR during the forecast period.

Key Market Players

  • Becton, Dickinson and Company
  • Amcor PLC
  • AptarGroup, Inc.
  • West Pharmaceutical Services, Inc.
  • Gerresheimer AG
  • Schott AG (Carl-Zeiss-Stiftung)
  • Nolato AB
  • LF of America Corp. (Tekni-Plex, Inc.)
  • Bormioli Pharma S.p.a.

As ophthalmic products are directly dispensed into the eyes that make it critical to pack these products with maximum care to keep their purity intact and prevent it from any kind of physical and chemical contamination. In order to fulfill the increasing requirement of safe packaging, many manufacturers are designing unique packaging formats. Ophthalmic drug packing has higher convenience in terms of effectiveness and safety of the medication than the packing utilized by solid oral products. Factor such as a surge in the rate of eye-related diseases is responsible for the growth & demand for ophthalmic packaging in the global market.

In addition, some of the catalysts to the growth of the ophthalmic packaging market are the creation of new packaging material, increased requirement to comply with the latest regulations, and surge in the requirement for brand enhancement and brand differentiation in the saturated market. The demand for ophthalmic packaging solutions has been driven by the increase in the occurrence of several ophthalmic conditions like conjunctivitis and dry eye. This also fuels the requirement for eye care around the globe. A study by USA General Population Cross-sectional revealed that approximately 16 to 49 million individuals in the US are suffering from dry eye disease.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic adversely affected the growth & demand of the ophthalmic packaging market. In addition, the COVID-19 pandemic has brought a disruption to the global ophthalmic market with a restricted number of patients coming to hospitals. On the other hand, prominent market players are forming unique strategies in order to cope with the changing environment. For instance, Johnson & Johnson optimized the pandemic situation by imparting training to healthcare professionals with their next-generation product offering. This initiative is expected to help the company to maintain and improve its brand loyalty.

Market Growth Factors:

Increased screen time due to the massive penetration of social media

In the modern age, the screen time of people, especially the youth has been increased due to the high adoption of internet and penetration of social media. As a result, the prevalence of eye-related diseases has been increased around the world, creating high demand for drugs that are required in the treatment for such diseases. These ophthalmic drugs require packaging so that efficacy and effectiveness of the drugs will not be compromised.

The rise in the occurrence of ocular diseases

The increasing number of patients suffering from ocular disorders and diseases across the globe is expected to play a key role in boosting the growth & demand for ophthalmic packaging in the global market. Some of the most common eye diseases around the world are thyroid eye disease, diabetic retinopathy, glaucoma, optic neuritis, cataracts, and dry eyes. In addition, these diseases have promoted the establishment of new eye clinics and hospitals, hence creating higher demand for ophthalmic packaging across these systems.

Market Restraining Factor:

Surging costs of eye-related diseases

The global market of ophthalmic packaging is expected to be hampered by the poorly-developed healthcare infrastructure and less priority to ophthalmic care. Moreover, there has been a constant increment in the treatment of eye-related diseases that could hamper the growth & demand for ophthalmic packaging solutions in the global market. In addition, ophthalmic packaging comes with a heavy cost that could discourage many companies to choose these solutions for the packaging of their drug.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Global Ophthalmic Packaging Market by Dose

3.1 Global Multi Dose Market by Region

3.2 Global Single Dose Market by Region

Chapter 4. Global Ophthalmic Packaging Market by Material

4.1 Global Plastic Market by Region

4.2 Global Glass Market by Region

4.3 Global Other Materials Market by Region

Chapter 5. Global Ophthalmic Packaging Market by Type

5.1 Global Prescription Market by Region

5.2 Global OTC Market by Region

Chapter 6. Global Ophthalmic Packaging Market by Region

Chapter 7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/qt6doq