The Ophthalmic
Packaging Market report discusses the
primary market growth drivers and challenges that the vendors and the market as
a whole face and provides an overview of the key trends emerging in the market.
This study also shows about the industry size of different segments and their
growth aspects along with key leading countries in Americas, Asia-Pacific,
Europe, the Middle East, and Africa regions.
The global Ophthalmic Packaging Market scope was priced at US$ 6.44
billion during 2017 and is estimated to witness a CAGR of 10.2% by the
completion of prediction period. The global market scope of ophthalmic
packaging is estimated to touch US$ 13.9 billion by the completion of the year
2025.
Ophthalmic packaging refers to a way of storing drugs or medicines that
are designed to cure specific eye disorder. Such medicines are available in
various forms including liquid, sterile, semi-solid, or solid. Thereby,
packaging for ophthalmic preparations is designed carefully to protect them
from moisture, light, and microbial contamination.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Ophthalmic Packaging Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Ophthalmic Packaging Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
Rising cases of eye related disorders in young and adult population
owing to unhealthy lifestyle is anticipated to propel ophthalmic packaging
market growth. Increasing use of environment friendly and safe medical devices
is expected to impel market growth. Manufacturing companies are using effective
raw material to design packaging that can increase self-life of medicines.
Supportive initiatives being taken by governments across various nations to
spread awareness regarding eye care is driving the market. Free eye campaigns
being organized by government and private organizations support individuals
suffering from various eye related disorders. Increasing number of individuals
following medicinal treatment for eyes prescribed by professional doctors will
drive the market over the forecast period.
To cater to rising demand for effective wrapping techniques, companies
are investing in R&D to develop advanced products. For instance, in
September 2018, Lameplast launched 10 ml plastic bottle to store medicines
intended for treatment of eyes. To eliminate preservatives, the company has
used pharmaceutical grade polyethylene (PE) sterilized by gamma ray. The
product is aimed to enhance performance standards and match consumer demand.
Dose Insights:
Based on dose, the ophthalmic packaging industry is divided into single
dose and multi dose. Multi dose segment is predicted to hold largest market
share over the forecast period. This is attributed to rising demand for
multiple doses of medicine that can cure eye related disorders. Availability of
multiple doses makes it easy for patients to maintain regularity in treatment
as per doctor’s prescription. Multi-dose packaging for liquid ophthalmic
products includes dispensing tip or nozzle, bottle, and cap.
Single-dose packaging is also gaining traction among doctors and
patients owing to minimization of allergic reactions. Due to absence of
preservatives there are less chances of contamination. This factor is driving
demand for medicines wrapped in single-dose packaging during eye related
surgeries.
Material Insights:
In terms of material, the ophthalmic packaging industry can be
categorized into plastic, glass, and others. Glass segment is expected to hold
largest market share over the forecast period owing to increasing use of glass
containers for powders. Heat transfer properties of glass make it suitable for
freeze-drying procedures in laboratories. In addition, growing adoption of
glass material for packaging ophthalmic drugs that are incompatible with
plastic is driving segment’s growth. Glass is chemically strong, inactive,
water resistant, and economically viable.
Regional Insights:
Regional segmentation includes Europe, North America, Asia Pacific,
Latin America, and Middle East and Africa. North America is dominating the
market in terms of revenue owing to presence of established R&D facilities
in the region. Such facilities are continuously working on development of
advanced wrapping methods for ophthalmic medicines.
Asia Pacific, on the other hand, is anticipated to exhibit significant
growth over the forecast period. This is attributed to rising demand for
reliable casing techniques providing patient comfort, tamper evidence, product
protection, and quality.
Some of the key players in the ophthalmic packaging market are
Gerresheimer AG; Amcor plc; Becton Dickinson; West Pharmaceutical Services,
Inc.; Schott AG. Companies are adopting business strategies such as mergers and
acquisitions to expand their product portfolio and gain competitive edge over
others.
Know
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