Global Ophthalmic Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Ophthalmic Packaging Market” is an exhaustive market research report completed by MarketResearch.biz. Key factors and scenarios have been analyzed and considered for an in-depth study along with related trends. The resulting data and information are presented in a well-planned manner, flow, and format in this report. The revenue share of each segment, region & country, revenue growth driving factors, restraints, and opportunities in developed and developing economies, as well as untapped economies, are all included in the report. Details of key players comprising - financial records, product & operating segment revenues and information, recent developments, strategies, and acquisitions & mergers, etc., are included. The global ophthalmic packaging market is segmented on the basis of dose,end-use, material, regions, and countries.
Global Ophthalmic Packaging Market: Overview
Many ophthalmic diseases and eye irritations are treated with topically administered drugs. These products, which are meant to be used for the treatment of acute or chronic conditions, are stored in bottles that consist of a drug dispensing tip that aids in dosing the right amount of that drug. This packaging is done to safeguard the quality of the drug, maintain its sterility, ensure accurate dosing and administration of the drug, and reduce product contamination by preventing the drug from coming in contact with the environment around us. As a result, ophthalmic drug product packaging is considered to be relatively more crucial to the product’s performance and safety when compared to the packaging used for solid oral drugs.
Global Ophthalmic Packaging Market: Dynamics
Drivers: A growing number of cases where individuals are affected by eye disorders along with advancements made by ophthalmic healthcare facilities, and the rising awareness of eye care are the major factors expected to be drivers of the global ophthalmic market’s growth. The demand for ophthalmic packaging can be attributed to its ability to prevent the drug from coming in contact with the external environment. By doing so, it allows for the efficacy of the drug to remain intact.
The introduction of policies in several countries that promote growth of the pharmaceutical industry such as ‘free trade zones’ has led to the development of new ophthalmic manufacturing facilities which will indirectly drive the demand for ophthalmic packaging products. Initiatives including eye care programs, check-ups, and strict regulatory measures by respective governments are expected to significantly contribute to growth of the market.
Global Ophthalmic Packaging Market Regional Analysis:
The market in North America is expected to account for a majority of the revenue share over the forecast period due to an increased usage of ophthalmic packaging materials. This can be attributed to various factors including development of healthcare infrastructure and increasing R&D activities in this field, the increased geriatric population, a growing number of cases pertaining to eye-related disorders, and the various regulations adopted by stringent administrative bodies. On the other hand, the American Academy of Ophthalmology is adopting a uniform color-coding system for labels and caps of all ocular medication. This, in turn, is expected to contribute to growth of the market in this region.
The market in Europe is expected to account for second-highest revenue share in the global market over the 10-year forecast period. Contraction of ophthalmic diseases including diabetic-eye disease, Retinal Vein Occlusion (RVO), and macular degeneration are increasing among individuals in Europe. This is one of the major factors leading to the increasing usage of ophthalmic drug products. Certain other factors including initiatives by healthcare organizations such as national eye-screening programs and implementation of reimbursement policies that are initiated by the government are expected to boost growth of the global ophthalmic packing market over the 10-year forecast period.
The Asia Pacific region is expected to register highest growth rate over the 10-year forecast period. Presence of a large patient-pool in developing countries is expected to support growth of the market, especially in countries such as Japan, China, and India. In addition, ‘Pharma Vision 2020’ – a program adopted by the Indian government is aimed at making India one of the major pharmaceutical manufacturing markets. This program includes development of facilities without the need to seek approval of the authorities. Such developments are expected to drive market growth in India as well as the Asia Pacific region.
Global Ophthalmic Packaging Market Segment Analysis:
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Advance Packaging
- Dakla Pack
- Desco Industries Inc.
- Dou Yee
- Edco Supply Corporation
- Kao Chia
- MK Master
- Miller packaging
- Pall Corporation
- Polyplus Packaging
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