The global ophthalmic packaging market size is predicted to reach at US$ 18.6 billion by 2030 and anticipated to expand at a 10.8% of CAGR over the forecast period 2021 to 2030.
Ophthalmic products are directly administered into the eyes, which make it crucial to pack these products with extreme care to ensure purity and prevention from all physical and chemical contamination. Manufacturers are developing innovative packaging formats to meet the growing need of secure packaging. As an effect, compared with the packaging used by solid oral products, ophthalmic drug packaging is perceived to be comparatively more convenient to the usefulness and safety of the medication. The increasing occurrence of eye-related diseases is the key driver of ophthalmic packaging market.
Increasing global burden of ocular conditions and growing number of ophthalmic clinics, hospitals, and ambulatory care centers are the factors driving the market growth. Additionally, frequent introduction of new drug delivery systems and high demand for advanced packaging solutions is expected to fuel the market during forecast period.
Increasing healthcare expenditure and rising disposable income are some of the prominent factors that are expected to drive a lot of patients towards advanced ophthalmic care. Furthermore, growing number of advanced healthcare facilities such as eye hospitals and ophthalmic clinics across several regions and increasing awareness about preventive care, ocular disorders and self-medications are some of the factors expected to aid to the market growth.
Increasing geriatric population coupled with age related ocular disorders is expected to increase the demand for ophthalmic products. Furthermore, the improving reimbursement policies for ocular surgeries including cataract & eye implants and increasing awareness about ocular disorders and treatment options is expected to drive the market growth.
The government and non-government initiatives such as ocular screening program and national healthcare program is expected to increase the accessibility to ophthalmic healthcare. Furthermore, the initiatives such as “economical free trade zone” & reducing approval time for establishment of facilities will contribute to the establishment of new ophthalmic manufacturing facilities that is expected to increase the demand for the packaging materials over the forecast period.
Dose Insights
Based on dose, the Multiple dose segment held the largest market share in 2020 and expected to grow at a significant rate over the forecast period. The choice of a single dose or multiple dose depends upon various parameters such as the efficacy of the drug, formulation, stability, and the course of treatment. Introduction of smart, patient friendly, and safer multi dose packaging is expected to fuel the segment growth during the forecast period.
Growth of single dose segment can be majorly attributed to high demand for safe medications with minimal or no usage of preservatives. Addition of preservatives increase the final product price. In addition, it may lead to severe allergic reactions. ASEP TECH advantage are the unit dose vials developed by method blow/fill/deal reflected from the development of these preservative free formulations.
Multiple dose dominated the market segment in 2020 and is expected to be the leading segment of the market over the forecast period. Increasing usage of multiple dose packaging systems in OTC preparation coupled with growing prevalence of common ocular disorders such as red eyes, dry eyes and conjunctivitis etc. are the major factors expected to drive the market growth.
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Material Insights
Based on material, the Plastic packaging material accounted for the largest market share in 2020 and is expected to grow at a significant rate over the forecast period. The segment growth is majorly contributed to the advantages associated with plastic material such as inertness, cost efficiency, low weight, and convenience of usage. Low density polyethylene (LDPE) is most preferred type of resins due its flexibility and decreased chances of contamination. In addition, this material is easily recycled, which makes it ideal for single dose containers.
Glass material are traditionally used in pharmaceutical packaging, but they possess some limitations such as brittleness, inconvenience in handling, and high cost; thus is being rapidly replaced by plastic. However, the demand for glass material is still high in formulations with stability and compatibility problems. These formulations include volatile and light sensitive substances. Type 1 borosilicate glass is the U.S. pharmacopeia standard of packaging material for ophthalmic preparations. The segment is expected to face slower growth due to high rate of replacement by advanced plastic options.
Material generally used for liquid ophthalmic preparation is LDPE bottle with a dropper built into the neck and ophthalmic ointments are packaged a metal tube with an ophthalmic. Ointments contents reactive with metal tubes, an epoxy or vinyl plastic coated metal tubes are used. Polyethylene or polypropylene (polyolefin) containers are used for packaging of large volume intraocular irrigation preparations. Increasing focus on usage convenience of the product without compromising on safety of the patients is expected to increase the demand for plastic containers over the years.
Type insights
Based on type, the prescription type held the largest market in 2020 and is expected to grow at significant rate over the forecast period. The largest share is attributable to the factors such as high incidence of ophthalmic disorders and increasing number of ophthalmic clinics, hospitals, and ambulatory care centers.
According to NCBI study, the global burden of eye disease was reported to be 61.4 million worldwide. Improving accessibility to ophthalmic healthcare clinics and development of advance drug delivery systems is expected to foster the growth of prescription type ophthalmic packaging market. Furthermore, people are lot more skeptical when it comes to using an OTC medication for ophthalmic disorders, they generally prefer to visit ophthalmologist to prevent the worsening of condition. Thus, with increasing disposable income and awareness about preventive care more people will consider visiting physicians driving the growth of this market.
OTC type pharmaceutical packaging held a significant market share and is also expected to grow at a steady rate over the forecast period. The growth of this segment can be attributable to the factors such as prevalence of common eye problems including dry eyes and red eyes syndrome. Multiple dose packaging is usually used in OTC type of medication. The growing awareness about self-medication and increasing efforts of people to reduce any future healthcare cost is expected to add to the growth of this segment.
Regional Insights
North America held 40% of the total region wise ophthalmic packaging material market in 2020. Developed R&D and healthcare facilities, rising geriatric population, increasing prevalence of eye disorders and presence of stringent regulatory bodies is expected to drive the market growth. Furthermore, uniform color-coding systems for the caps and labels of all topical ocular medication introduced by the American Academy of Ophthalmology are some of the initiatives expected to fuel the growth.
Europe accounted for the second largest share in ophthalmic packaging market in 2020. Increasing prevalence of age-related ophthalmic diseases such as macular degeneration, diabetic eye diseases, and retinal vein occlusion in Europe has contributed to its share. Furthermore, the factors such as growing presence national eye screening programs and developing ophthalmic care reimbursement policies is expected to propel the growth over the forecast period.
Asia Pacific is projected to grow at fastest CAGR over the forecast period. Developing economies with presence of large patient pool is expected to contribute to this growth especially in regions such as India, China, and Japan. The Indian 2018-19 annual budget emphasize a greatly on “Pharma Vision 2020” aimed to make India a global leader in pharmaceutical manufacturing. Moreover, it has reduced the approval time for the establishment of facilities driving the development of new facilities that would indirectly raise the demand.
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Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global ophthalmic packaging market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players operating in the global ophthalmic packaging market are Amcor Ltd., Aptar Group., Bemis Healthcare Packaging, Owens-Illinois, Gerresheimer AG, BD, Schott AG, West Pharmaceutical, Alexander (James) Corporation, Westrock and Baxter International.
Market Segmentation
Dose Outlook
- Multi dose
- Single dose
Type Use Outlook
- OTC
- Prescription
Material Outlook
- Glass
- Plastic
- Others
Regional Outlook
- North America
- The U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- North America
This report focuses on ophthalmic packaging market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall ophthalmic packaging market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global ophthalmic packaging market.
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The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
