Ophthalmic Packaging Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ophthalmic Packaging Market


The global Ophthalmic Packaging market size is projected to reach US$ 15.44 billion by 2026, from US$ 8.62 billion in 2020, at a CAGR of 10.2% during 2021-2026. Rising need for brand enhancement and differentiation in an increasingly competitive environment coupled with high prevalence of eye disorders are some of the factors driving the growth.
Growing population, focus on increasing life expectancy, and increasing disposable income are some of the factors expected to create attractive opportunities in the forthcoming years as companies struggle with stagnation of mature markets, expiration of patents, and a rise in regulatory hurdles.

The market share of emerging countries is increasing at a rapid rate. Brazil, Russia, India, China, Mexico, and Turkey (BRICMT) countries have shown a strong economic growth in the past few years. These economies are also becoming increasingly stable, making them even more attractive for the multinational companies to invest and setup their production facilities. A rise in pharmaceutical exports from these countries is expected to boost the consumption of ophthalmic packaging products over the forecast period.

In addition, rising prevalence of eye disorders, technological advancements, individual therapy, and awareness regarding eye care are some of the major factors driving the demand for drug delivery devices. Growing efforts toward the formulation of dosage forms that would help maximize the bioavailability of the drug at the target site while increasing patient convenience are boosting the global market.

Market Segmentation, Outlook & Viewpoint: Global Ophthalmic Packaging Market

Dose Market Segmentation & Outlook (Revenue in USD Million, 2014 - 2025)

  
Multi Dose
  
Single Dose

Type Market Segmentation & Outlook (Revenue in USD Million, 2014 - 2025)

  
OTC
  
Prescription

Material Market Segmentation & Outlook (Revenue in USD Million, 2014 - 2025)

  
Glass
  
Plastic
  
Others

Key Players, Recent Developments & Regional Insights: Global Ophthalmic Packaging Market

Based on type, the market is segmented into Over the Counter (OTC) and prescription. Prescription products led the ophthalmic products packaging market owing to the large-scale use as first-line treatment. The prescription segment is expected to be driven by increase in geriatric population and advanced drug delivery mechanisms.Therapeutics used for treatment of serious eye disorders like glaucoma, are generally prescription-based. Severe cases of conjunctivitis that are unresponsive to OTC medications are then treated using antibiotics.

The OTC segment is estimated to witness a steady growth during the forecast period. In addition, OTC ophthalmic products are used on a wider scale than prescription drugs. Commercialization of OTC products is supported by direct-to-consumers offers and promotions.

Regional Insights

North America held the dominant market share of 39.40% in terms of revenue in 2017. Well-established healthcare infrastructure and availability of better R&D facilities coupled with the introduction of advanced technologies are factors responsible for the segment growth. Moreover, in 2017, based on the American Journal of Ophthalmology, more than 16 million adults in U.S. are diagnosed with dry eye disease. Furthermore, the presence of developed economies is fueling regional growth.

Asia Pacific is anticipated to witness significant growth over the forecast period owing to need for speedy and reliable packaging solutions that deliver a combination of security requirements, patient comfort, tamper evidence, quality, and product protection. The recent trends such as social security and healthcare systems in Asia are expected to offer new growth opportunities to the providers. Increase in disposable income of the middle- and lower-economic class and robust credit growth are some of the other primary factors that aid the regional market growth.

Ophthalmic Packaging Market Share Insights

The key market players include Amcor Ltd.; West Pharmaceutical Service Inc.; Gerresheimer AG; BD; Schott AG; and Aptar Group. The market is highly fragmented with presence of numerous players at regional and local levels. Mergers and acquisitions form a major strategy of most companies. The companies are trying to achieve product leadership in some categories owing to which merger valuations are expected to increase over the forecast period. Industry participants are engaged in restructuring to focus on the profitable business segments. With an increased emphasis on sustainability, the companies are trying to find a balance between investing in innovation to establish a cost-effective and environment-friendly process.

Key Insights Covered: Global Ophthalmic Packaging Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ophthalmic Packaging industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Ophthalmic Packaging industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ophthalmic Packaging industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ophthalmic Packaging industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ophthalmic Packaging industry.

Research Methodology: Global Ophthalmic Packaging Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other