Ophthalmic Packaging Market Trends

Ophthalmic Packaging Industry Overview

The global Ophthalmic Packaging Market is expected to reach USD 17.7 billion by the end of 2028, according to a new report by Grand View Research, Inc. It is projected to expand at an 11.9% CAGR over the forecast period. The increasing global burden of ocular conditions and a growing number of ophthalmic clinics, hospitals, and ambulatory care centers are the factors driving the market growth. Additionally, the frequent introduction of new drug delivery systems and high demand for advanced packaging solutions is expected to fuel the market during the forecast period.

Increasing healthcare expenditure and rising disposable income are some of the prominent factors that are expected to drive a lot of patients towards advanced ophthalmic care. Furthermore, the growing number of advanced healthcare facilities such as eye hospitals and ophthalmic clinics across several regions and increasing awareness about preventive care, ocular disorders, and self-medications are some of the factors expected to aid the market growth.

Ophthalmic Packaging Market Segmentation

Grand View Research has segmented the ophthalmic packaging market on the basis of dose, type, material, and regions:

Based on the Dose Insights, the market is segmented into Multi Dose and Single Dose

The multidose segment dominated the market in 2020 with over 70.0% share. The high penetration index of multidose containers in the OTC market is a key factor fueling the segment growth.
The single-dose packaging segment will be driven by the demand for single-dose packaging in eye-related surgeries and improved healthcare manufacturing facilities.

Based on the Type Insights, the market is segmented into OTC and Prescription

The prescription segment dominated the market with a revenue share of over 55.0% in 2020 owing to its large-scale use as a first-line treatment.
The OTC segment is expected to grow at a healthy rate during the forecast period.

Based on the Material Insights, the market is segmented into Glass, Plastics, and Others

Plastic led the market with a revenue share of over 45.0% in 2020 and is expected to witness significant growth during the forecast period.
The plastic segment is mainly driven by its lower weight, cost-efficiency, and convenience.

Ophthalmic Packaging Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Key market players are adopting strategic initiatives such as M&As, partnerships, product differentiation, product designing, and collaborations to gain a competitive edge in the marketplace.

Some prominent players in the global Ophthalmic Packaging market include:

Amcor Ltd.
West Pharmaceutical Service Inc.
Gerresheimer AG
BD
Schott AG
Aptar Group

Order a free sample PDF of the Ophthalmic Packaging Market Intelligence Study, published by Grand View Research.

Ophthalmic Packaging Industry Overview

The global ophthalmic packaging market size was valued at USD 3.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028.

The growing need for brand enhancement and brand differentiation in a highly competitive environment, development of novel packaging material, and growing need to adhere to new regulatory guidelines on recycling of packaging materials are some of the factors contributing to the growth of the market. The market witnessed a sharp decline in terms of size in 2020 when compared to 2019 owing to the ongoing Covid-19 pandemic. COVID-19 has had a severely disruptive impact on the entire ophthalmic industry with a limited number of patients visiting hospitals.

However, major market players are rapidly adapting to the new environment with innovative strategies. For example, Johnson & Johnson Vision focused largely on using the market slowdown to train healthcare professionals with their advanced portfolio. This is expected to have a long-term positive impact on its brand image. Carl Zeiss Meditec also focused on providing remote care solutions and training ophthalmologists. Alcon focused on developing its SMART Suite that provides a cloud-based platform to manage data in clinics and ORs. Like other healthcare practices, the ophthalmology space is expected to witness lucrative growth using telemedicine services. In addition, increasing demand for prescription as well as OTC products for the management of COVID-19-related ophthalmic complications is expected to fuel the market growth in the upcoming years.

Gather more insights about the market drivers, restrains and growth of the Global Ophthalmic Packaging market

The growing prevalence of various ophthalmic conditions, such as dry eye and conjunctivitis, is anticipated to augment the demand for ophthalmic packaging devices, which is a primary factor driving the need for eye care services globally. According to the USA General Population Cross-sectional Study, 2018, around 16 to 49 million Americans have a dry eye disease, accounting for 5% to 15% of the total population.

Emerging economies such as China, India, and Brazil are providing the opportunity for the growth of ophthalmology. Growing population, rising focus on increasing life expectancy, and increasing disposable income are some of the factors expected to provide growth prospects to companies in the coming years as they are facing challenges due to the stagnation of mature markets, expiration of patents, and rise in regulatory barriers.

Drug delivery refers to approaches, formulations, technologies, and systems for transporting pharmaceutical compounds in the body as and when required for safely achieving its desired therapeutic effect. The rising prevalence of eye disorders, rapid technological advancements, increasing adoption of individual therapies, and growing awareness regarding eye care are some of the major factors driving the demand for drug delivery devices, which, in turn, are positively impacting the market growth.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

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Ophthalmic Packaging Market Segmentation

Grand View Research has segmented the ophthalmic packaging market on the basis of dose, type, material, and regions:

Ophthalmic Packaging Dose Outlook (Revenue, USD Million, 2016 – 2028)

Multi Dose
Single Dose

Ophthalmic Packaging Type Outlook (Revenue, USD Million, 2016 – 2028)

OTC
Prescription

Ophthalmic Packaging Material Outlook (Revenue, USD Million, 2016 – 2028)

Glass
Plastic
Others

Ophthalmic Packaging Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Ophthalmic Packaging market include

Amcor Ltd.
West Pharmaceutical Service Inc.
Gerresheimer AG
BD
Schott AG
Aptar Group

Order a free sample PDF of the Ophthalmic Packaging Market Intelligence Study, published by Grand View Research.