Global Ophthalmic Packaging Market by Dose (Single Dose, Multi Dose), by Material (Glass, Plastic), by Type (Prescription, OTC) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global ophthalmic packaging market was valued at USD 3.6 billion in 2020. It is projected to grow at a compound annual rate (CAGR of 11.9%) between 2021 and 2028. Market growth is due to growing brand differentiation and brand enhancement in highly competitive environments, the development of novel packaging material and the need to follow new regulations on packaging material recycling. Due to the ongoing Covid-19 epidemic, the market saw a sharp drop in size in 2020. COVID-19 had a severe impact on the entire industry of ophthalmic medicine, with only a small number of patients visiting hospitals.

Major market players are adapting quickly to the new environment by implementing innovative strategies. Johnson & Johnson Vision, for example, focused mainly on the market slowdown as a way to train healthcare professionals using their extensive portfolio. It is expected that this will have a positive long-term impact on the brand's image. Carl Zeiss Meditec was also focused on remote care solutions and training of ophthalmologists. Alcon concentrated on the development of its SMART Suite, a cloud-based platform that allows for data management in ORs and clinics. Telemedicine services are expected to be a lucrative way for ophthalmology to grow, just like other healthcare providers. The market will continue to grow due to increased demand for OTC and prescription products to manage COVID-19-related eye problems.

Ophthalmic packaging devices are expected to increase in demand due to the increasing prevalence of ophthalmic conditions such as conjunctivitis and dry eye. This is the primary reason for the global need for eye care services. The USA General Population Cross Sectional Study 2018 estimates that between 16 and 49 million Americans suffer from dry eye disease. This accounts for approximately 5% to 15%.

Opportunities for growth in ophthalmology are being offered by emerging economies like Brazil, India, China, and China. Companies will see growth opportunities in the future due to the rising population, increased focus on life expectancy, and an increase in disposable income. However, they face challenges from stagnant markets, the expiration of patents and the rise in regulatory barriers.

Drug delivery is a term that refers to methods, technologies, formulations, and systems for safely transporting pharmaceutical compounds within the body. Rapid technological advances, increased awareness about eye care, and rising incidence of eye diseases are all factors that are driving demand for drug delivery devices. This, in turn, is positively impacting market growth.

Dose Insights

With a share of over 70%, the multidose segment dominated 2020's market. Segment growth is driven by the high penetration index for multidose containers in OTC markets. Multidose containers are also very patient-friendly and environmentally friendly. Multidose containers are easier to transport than single-dose strips.

Due to the increasing demand from patients and the ease of use, multi-dose packaging will continue to lead the market throughout the forecast period. Multi-dose packaging for liquid eye drops typically consists of a cap, dispensing tip, nozzle, cap and tamper evident features. Preservatives are used in order to preserve product quality and prevent microbial contamination.

Single-dose packaging can be used for the one-time application of ophthalmic drugs. Single-dose packaging doesn't contain any preservatives. This minimizes the chance of patients experiencing allergic reactions. Single-dose packaging will grow due to increased healthcare manufacturing capabilities and eye-related surgery demand.

Material Insights

Plastic dominated the market in 2020 with a 45.0% revenue share. It is expected to continue its strong growth over the forecast period. Plastic containers are used to package most of the commercially-available ophthalmic products. Its rising popularity is due to its ease of use, cost efficiency, and inertness.

Plastic is driven primarily by its lighter weight, cost-efficiency and convenience. Some ophthalmic products, such as eye drops, are packaged entirely in plastic dispensers. Plastic bottles and dispensing tools used for this purpose are mostly made from low-density polyethylene resin (LDPE). Caps made of harder resins like polyethylene and polypropylene can be used. LDPE has key clinical benefits, including flexibility, inertness, and reduced chances of contamination. LDPE can be used with almost all resins and formulations. However, translucency, permeability and other characteristics are disadvantages.

Type Insights

Due to its widespread use as a first-line therapy, the prescription segment was dominant in 2020 with a revenue share exceeding 55.0%. Prescription sales will be driven by an increasing number of geriatric patients worldwide and the development of drug delivery systems. Prescription medications are used to treat more severe ophthalmic conditions, such as severe conjunctivitis or glaucoma.

The OTC market is expected to expand at a healthy pace during the forecast period. The segment is expected to grow due to frequent product launches, an increase in the number of pharmacies and a growing awareness about self-medication, preventative care, and self-medication.

The antibiotics are used to treat severe cases of neurotrophic keratitis and conjunctivitis that are not responsive to OTC medication. The segment's growth is expected to be accelerated by the increasing number of product approvals. Aptar Pharma was granted EU approval in February 2019 for its multidose prescription drug Taflotan/Saflutan, which is used to reduce elevated intraocular pressure (IOP) across Europe.

Regional Insights

North America held the largest share at over 35.0% in 2020, due to rising prevalence of ocular diseases, growing exports of ophthalmic product, increased investment in R&D specifically for the ophthalmic industry, and strict regulatory policies in parametrical packaging.

The regional market will be driven by the expiration of patents, an increase in the aging population and favorable government policies. Because of its high demand from the packaging sector, North America is the largest consumer of plastics. Plastics are versatile because of their many features such as ease of molding, ability to obtain desired shapes, and resistance to weather and water. Plastic containers are simple to make and come in many shapes and sizes. These factors will likely increase the demand for plastics over the forecast period.

Asia Pacific is expected to see significant growth in the coming years. This is due to the demand for reliable and fast packaging solutions that meet security requirements, improve patient comfort, include tamper evident technology, and offer product protection and quality. Ophthalmic packaging companies will benefit from the recent trend in Asia of better social security and improved healthcare systems.

Market Share Insights & Key Companies

To gain an edge in the market, key market players are taking strategic initiatives, such as M&As and partnerships, product differentiation, product design, and product designing. Gerresheimer, for example, launched a new type of dropper insert that allows modern ophthalmic drugs to be dropped with low viscosity in October 2020. The following are some of the major players in the global market for ophthalmic packaging:

• Amcor Ltd.

• West Pharmaceutical Service Inc.

• Gerresheimer AG

• BD

• Schott AG

• Aptar Group

Up Market Research published a new report titled “Ophthalmic Packaging Market research report which is segmented by Dose (Single Dose, Multi Dose), by Material (Glass, Plastic), by Type (Prescription, OTC), By Players/Companies Gerresheimer AG, Amcor Ltd, West Pharmaceutical Service Inc, Schott AG, Aptar Group, BD”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Ophthalmic Packaging Market Report Segments:

The market is segmented by Dose (Single Dose, Multi Dose), by Material (Glass, Plastic), by Type (Prescription, OTC).

Ophthalmic Packaging Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Ophthalmic Packaging Market

Overview of the regional outlook of the Ophthalmic Packaging Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Ophthalmic Packaging Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Ophthalmic Packaging Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Single Dose

                2. Multi Dose

                1. Glass

                2. Plastic

                1. Prescription

                2. OTC

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Ophthalmic Packaging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Ophthalmic Packaging Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.