North America Leads the Global Ophthalmic Packaging Market with 35.4% Market Share in 2022, Supported by Advanced Healthcare Infrastructure

DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Ophthalmic Packaging Market Size, Share & Trends Analysis Report By Dose (Single Dose, Multi Dose), By Type (OTC, Prescription), By Material (Plastic, Glass), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global ophthalmic packaging market is poised for substantial growth, projected to reach a value of USD 20.3 billion by 2030, with a robust compound annual growth rate (CAGR) of 8.4% from 2023 to 2030.

The driving forces behind this remarkable growth include the increasing global burden of ocular conditions and the proliferation of ophthalmic clinics, hospitals, and ambulatory care centers. Additionally, the continuous introduction of innovative drug delivery systems and the surging demand for advanced packaging solutions are expected to further propel market expansion during the forecast period.

Factors such as rising healthcare expenditures and growing disposable incomes are anticipated to steer a significant number of patients towards advanced ophthalmic care. Furthermore, the escalating presence of state-of-the-art healthcare facilities, including eye hospitals and ophthalmic clinics, across various regions, coupled with heightened awareness regarding preventive care, ocular disorders, and self-medications, is anticipated to foster market growth.

The increasing aging population, combined with age-related ocular disorders, is set to drive the demand for ophthalmic products. Moreover, the improving reimbursement policies for ocular surgeries, including cataract procedures and eye implants, alongside increased awareness of ocular disorders and treatment options, are expected to contribute to market expansion.

Government and non-government initiatives, such as ocular screening programs and national healthcare schemes, are poised to enhance access to ophthalmic healthcare. Additionally, initiatives such as the establishment of an "economical free trade zone" and reduced approval time for facility establishment will facilitate the development of new ophthalmic manufacturing facilities, further boosting demand for packaging materials in the coming years.

Companies Mentioned

• Amcor plc
• West Pharmaceutical Services, Inc.
• Gerresheimer AG
• SCHOTT AG
• AptarGroup, Inc.

Ophthalmic Packaging Market Report Highlights:

1. Dominance of Multiple-Dose Packages: Multiple-dose ophthalmic packages commanded the largest market share in 2022 and are projected to experience significant growth during the forecast period. The increased adoption of multiple-dose packaging in over-the-counter (OTC) preparations, coupled with the rising prevalence of common ocular disorders such as red eyes, dry eyes, and conjunctivitis, are key growth drivers.
2. Plastics Packaging Material: Plastics packaging materials accounted for the largest share in 2022 and are expected to continue growing at a substantial rate. Low-density polyethylene (LDP) stands out as the most preferred resin due to its flexibility, compatibility, affordability, and safety.
3. Prescription vs. Over-the-Counter (OTC): In terms of type, the prescription segment dominated the market in 2022 and is set to grow significantly throughout the forecast period.
4. North America's Leading Position: North America held approximately 35.4% of the global ophthalmic packaging material market in 2022. The region's developed healthcare infrastructure, aging population, prevalence of eye disorders, and stringent regulatory oversight contribute to this substantial market share.
5. Asia Pacific's Rapid Growth: Asia Pacific is expected to witness the fastest CAGR over the forecast period, driven by the presence of numerous small and large-scale ophthalmic manufacturing plants and a significant unmet healthcare demand.

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Ophthalmic Packaging Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Ophthalmic Packaging Market Analysis Tools

Chapter 4. Ophthalmic Packaging: Dose Estimates & Trend Analysis
4.1. Ophthalmic Packaging Market: Key Takeaways
4.2. Ophthalmic Packaging Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Single Dose
4.3.1. Single dose market estimates and forecasts, 2018 to 2030 (USD Million)
4.4. Multi Dose
4.4.1. Multi dose market estimates and forecasts, 2018 to 2030 (USD Million)

Chapter 5. Ophthalmic Packaging: Material Estimates & Trend Analysis
5.1. Ophthalmic Packaging Market: Key Takeaways
5.2. Ophthalmic Packaging Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Glass
5.3.1. Glass market estimates and forecasts, 2018 to 2030 (USD Million)
5.4. Plastic
5.4.1. Plastic market estimates and forecasts, 2018 to 2030 (USD Million)
5.5. Others
5.5.1. Others market estimates and forecasts, 2018 to 2030 (USD Million)

Chapter 6. Ophthalmic Packaging: Type Estimates & Trend Analysis
6.1. Ophthalmic Packaging Market: Key Takeaways
6.2. Ophthalmic Packaging Market: Movement & Market Share Analysis, 2022 & 2030
6.3. OTC
6.3.1. OTC market estimates and forecasts, 2018 to 2030 (USD Million)
6.4. Prescription
6.4.1. Prescription market estimates and forecasts, 2018 to 2030 (USD Million)

Chapter 7. Ophthalmic Packaging Market: Regional Estimates & Trend Analysis

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization

For more information about this report visit https://www.researchandmarkets.com/r/8xn6iu

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets