Global Ophthalmic Packaging Market Share Value Estimated to Reach USD 22.16 Billion by 2030 | CAGR: 12.0%: Polaris Market Research

NEW YORK, April 12, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Ophthalmic Packaging Market Share, Size, Trends, Industry Analysis Report, By Dose (Single dose, Multi-dose), By Type (OTC, Prescription), By Material (Glass, Plastic, Others), By Region; Segment Forecast, 2022 - 2030" in its research database.

According to recent research study published by Polaris Market Research, the global ophthalmic packaging market size & share is expected to register a CAGR of 12.0% and revenue is expected to increase from USD 6.64 Billion in 2021 to reach USD 22.16 Billion by 2030.

What is Ophthalmic Packaging? What is Expected Size & Share of Ophthalmic Packaging Market?

• Overview

Ophthalmic drugs are used to treat ophthalmic diseases and eye irritations. These products need proper packaging with extreme care to prevent them from all physical and chemical contamination. Ophthalmic drugs are directly administered to the eyes. Manufacturers are developing advanced packaging types to make secure packaging of these products. Ophthalmic packaging is used to ensure the quality of the drug, maintain its sterility, avoid product contamination contact with the external environment

Ophthalmic packaging is more convenient to use and secure the medication as compared to the packaging used by solid oral products. The rising prevalence of eye-related diseases is the essential factor driving with ophthalmic packaging market. The ongoing Covid-19 pandemic has had a negative impact on the market in terms of size. Manufacturers of ophthalmic packaging are working on improving efficiency and costs as well as developing novel products in order to maintain ophthalmic's properties in ongoing COVID-19 market conditions.

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Key Questions Answered In The Report:

• Who are the manufacturers of the global ophthalmic packaging market?
• What are the prime drivers, growth/decline factors, and challenges?
• How is the industry expected to evolve in the forecasted period?
• What are the consumption patterns across the various regions?
• Which are the key areas of applications and product types that may expect a huge demand during the forecast period?
• What factors make the global ophthalmic packaging market a good long-term investment?
• What are the top firms' tactics for gaining share in mature markets?

Top Market Players in Ophthalmic Packaging Market Are:

• Advance Packaging
• Amcor Ltd.
• Aptar Group
• Berry Global Inc.
• Bormioli Pharma
• Dakla Pack
• Desco Industries Inc.
• Dou Yee
• Edco Supply Corporation
• Gerresheimer AG
• Kao Chia
• Miller packaging
• MK Master
• Nolato AB
• Pall Corporation
• Polyplus Packaging
• Schott AG
• Tekni-plex Inc.
• West Pharmaceutical Services Inc.
• WG Pro-Manufacturing Inc

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Ophthalmic Packaging Market: Growth Drivers

The rising cases of ophthalmic conditions, such as dry eye and conjunctivitis are expected to boost the demand for ophthalmic packaging products. The growing awareness regarding eye care among the population and rising advancements made by ophthalmic healthcare facilities is driving the market growth. This is because ophthalmic packaging has the ability to prevent the drug's contact with the environment around us. Then, the rising acquisition of individual therapies is also boosting the market growth. The increase in the development of policies in several emerging and developed countries has enhanced the pharmaceutical industry's growth. This has led to the introduction of novel ophthalmic manufacturing facilities, thereby driving the demand for ophthalmic packaging products.

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Global Ophthalmic Packaging Market: Scope of the Report

Also Read, Press Release on Gobal Ophthalmic Packaging Market Size & Share, 2022-2030

Ophthalmic Packaging Market: Report Segmentation

• By Insight by Dose

Based on a dose, the multi-dose segment is dominating the market with the highest revenue generation in the year 2021 and is expected to continue its dominance during the forecast period. This can be attributed to the increasing adoption of multi-dose containers in the OTC market as they are environmentally friendly and highly patient compliant. Patients also find these products more convenient to use.

The Single-dose segment is anticipated to grow at a substantial rate over the forecast period. single-dose are meant for one-time use of ophthalmic products therefore, manufacturers are focusing on rising drug efficacy, stability, formulation, and treatment duration. This factor is contributing to the surge in demand for Single-dose ophthalmic products. Moreover, the growing preference for single-dose packaging in eye-based surgeries and also accelerating the segment growth.

• By Insight by Type

Based on type, the prescription segment witnessed the largest revenue share in the market owing to the high adoption of first-line treatment. In addition, rising developments in drug delivery mechanisms, growing incidences of ocular illness, and an increasing geriatric population worldwide are some of the key factors fueling the segment demand. Further, the OTC segment is anticipated to show healthy progress with the highest CAGR in the near future owing to the frequent introduction of products,  increasing the number of pharmacies, and growing preferences for self-medication and preventive care.

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Geographic Overview: Ophthalmic Packaging Market

Based on geography, North America accounted for the largest share in 2021 and is anticipated to continue its dominance over the projected period. The key contributors to this regional growth include the growing prevalence of ocular disorders, the rising export of ophthalmic products, and introduction of stringent regulatory policies in parametrical packing. In addition, increasing investment in healthcare R&D activities and the rising geriatric population are also boosting the ophthalmic packaging market growth in the region.

The Asia Pacific is projected to generate considerable growth over the forecast period due to the growing trend of social security and healthcare systems rising need for speedy and reliable packaging solutions. Also, surging expenditure by the major players for ophthalmic packaging development is expected to boost the market demand in the region.

Browse the Detail Report "Ophthalmic Packaging Market Share, Size, Trends, Industry Analysis Report, By Dose (Single dose, Multi-dose), By Type (OTC, Prescription), By Material (Glass, Plastic, Others), By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/ophthalmic-packaging-market

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Highlights of The Research Report:

• The report estimates the market share, value, and future development plans of the major industry manufacturers.
• It provides a better knowledge of the global ophthalmic packaging market's prospects and prognosis for the forecast period.
• A comprehensive analysis of factors that drive and restrain global growth is provided.
• The report provides a comprehensive analysis of the global ophthalmic packaging market with respect to dynamics, competitive analysis, and upcoming trends in the market.
• The projections in this report are made by analyzing the current trends and future market in terms of value.

The market is primarily segmented on the basis of dose, type, material, and region.

Ophthalmic Packaging Market: By Dose Outlook

• Single dose
• Multi-dose

Ophthalmic Packaging Market: By Type Outlook

• OTC
• Prescription

Ophthalmic Packaging Market: By Material Outlook

• Glass
• Plastic
• Others

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