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The global ophthalmic packaging market was valued at USD 11.83 Billion in 2022, which is anticipated to grow at a CAGR of 9.24% from 2023 to 2032. The development of innovative packaging materials, the growing requirement to follow new legal standards on recycling packaging materials, and the growing need for brand enhancement and distinction in a highly competitive environment all contribute to the market's growth.
The field that produces and distributes packaging materials made especially for ophthalmic products and devices is known as the ophthalmic packaging market. Pharmaceuticals, medical equipment, and surgical instruments used in the diagnosis and treatment of diseases and ailments pertaining to the eyes are all considered ophthalmic items. Over the course of their lives, ophthalmic packaging is essential to maintaining the sterility, safety, and integrity of these items. It entails creating, producing, and distributing packaging solutions that shield eyewear against contaminates, breakage, and other types of harm. The product's components, dosage guidelines, expiration dates, and regulatory information are all disclosed in these packing materials. A broad variety of packaging styles, such as vials, bottles, ampoules, blister packs, tubes, cartons, and labels, are included in the ophthalmic packaging market. These packaging options are usually made to fulfil certain needs, like preserving the sterility of eye drugs or shielding delicate surgical instruments from harm. The market for ophthalmic packaging is influenced by a number of factors, including the rising incidence of eye conditions and illnesses, the rising need for sophisticated eye care products, and strict laws governing the quality and safety of products. The ageing population and growing use of contact lenses and other vision correction equipment are major factors driving this market's expansion. The increasing prevalence of eye disorders worldwide and the expansion of ophthalmic clinics, hospitals, and ambulatory care facilities are the main factors for this tremendous increase. Moreover, the ongoing development of novel drug delivery methods and the rising need for sophisticated packaging solutions are anticipated to fuel market expansion throughout the course of the research period. Many more patients are expected to seek sophisticated eye care as a result of factors like expanding disposable income and rising healthcare costs. In addition, the increasing number of cutting-edge medical facilities—such as eye hospitals and ophthalmic clinics—in different parts of the world, along with increased public awareness of ocular diseases, self-medication, and preventative treatment, should stimulate market expansion. Ocular problems associated with ageing will likely fuel the market for ophthalmic products, as the population ages. Furthermore, better reimbursement practices for ocular surgeries—such as cataract operations and eye implants—as well as heightened public knowledge of ocular conditions and available treatments, are anticipated to fuel market growth.
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Growing number of people with eye conditions- Ophthalmic product demand is being driven by the increasing frequency of eye ailments and diseases, including but not limited to cataracts, glaucoma, and age-related macular degeneration. This further increases the demand for specialised packaging in order to guarantee the security and effectiveness of these goods. One million people in the United States who are 40 years of age or older are blind, 3 million have visual impairment due to uncorrected refractive error, and 8 million have visual impairment due to corrected vision. Furthermore, a medical diagnosis of an eye or visual problem affects 6.8% of children under the age of 18. Approximately 3% of people who are blind or visually impaired—defined as having visual impairments even in the presence of glasses or contact lenses—are younger than 18 years old. Therefore, during the projected period, the rising frequency of eye problems is anticipated to fuel market expansion.
Environmental issues- The market for ophthalmic packaging faces difficulties as a result of the growing emphasis on environmental preservation and sustainability. Traditional packaging materials like plastics have the potential to pollute the environment. Players in the market must investigate eco-friendly packaging options and use eco-friendly procedures, which can necessitate spending money on R&D. Therefore, it is anticipated that throughout the projected period, the use of plastics will raise more environmental concerns, which will impede market expansion.
Opportunities:
An increase in online shopping- Ophthalmic packaging has an opportunity as e-commerce sites become more and more popular for buying medical supplies. Packaging solutions can meet the expectations of online customers and increase sales in the e-commerce channel if they are made to preserve products during delivery, improve the unboxing experience, and provide clear product information. For example, it is projected that by 2024, the percentage of online retail sales would rise from 4.7% in 2019 to 10.7%. In India, there will be 220 million internet shoppers by the forecasted period. India's e-commerce sector is ranked ninth globally for cross-border growth. By the forecasted period, e-commerce is expected to account for 8% of all retail sales in India, up from 4% of sales of clothes, consumer electronics, and food and consumables.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global ophthalmic packaging market, with a 37.73% market revenue share in 2022. It is caused by the increasing incidence of eye diseases, the expansion of ophthalmic product exports, the rise in ophthalmic-specific R&D spending, and strict packaging regulations. For example, West Pharmaceutical Services announced in February 2023 that it will be expanding its present partnership with Corning. The exclusive distribution rights for Corning Valour glass vials were part of this expansion. It also included the introduction of West Ready Pack, the company's main offering, which includes Corning Valour RTU vials.
North America Region Ophthalmic Packaging Market Share in 2022 - 37.73%
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The dose segment is divided into multi dose and single dose. The multi dose segment dominated the market, with a market share of around 65.23% in 2022. One of the main drivers of this segment's growth in the over-the-counter (OTC) sector is the high penetration index of multidose containers. Multidose containers are also very environmentally friendly and patient-compliant. An eye drop is more convenient for a patient to carry than strips in a single-dose bottle.
The type segment is divided into prescription and OTC. The prescription segment dominated the market, with a market share of around 71.49% in 2022. It is because it is widely used as a first-line therapy. Modern drug delivery technologies and a growing global geriatric population are predicted to propel the prescription market. Prescription drugs are typically used to treat more severe cases of conjunctivitis or glaucoma, two more complex eye conditions.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 11.83 Billion |
| Market size value in 2032 | USD 28.62 Billion |
| CAGR (2023 to 2032) | 9.24% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Dose, Type |
As per The Brainy Insights, the size of the ophthalmic packaging market was valued at USD 11.83 Billion in 2022 & USD 28.62 Billion by 2032.
Global ophthalmic packaging market is growing at a CAGR of 9.24% during the forecast period 2023-2032.
North America region emerged as the largest market for the ophthalmic packaging.
Growing number of people with eye conditions is a significant driving factor for the growth of the ophthalmic packaging market.
Environmental issues is a significant restraining factor for the growth of the ophthalmic packaging market.
An increase in online shopping is a significant opportunity for the growth of the ophthalmic packaging market.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global ophthalmic packaging market based on below mentioned segments:
Global Ophthalmic Packaging by Dose:
Global Ophthalmic Packaging by Type:
Global Ophthalmic Packaging by Region:
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