Ophthalmic Packaging Market Size, Share & Trends Report

Ophthalmic Packaging Market Size, Share & Trends Analysis Report By Dose (Single, Multi-dose), By Type (OTC, Prescription), By Material (Glass, Plastic), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-779-7
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 55

Industry Insights

The global ophthalmic packaging market size was valued at USD 6.44 billion in 2017 and is estimated to register a CAGR of 10.2% during the forecast period. 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.

U.S. ophthalmic packaging market

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.

Dose Insights

Based on dose, the market is categorized into multi dose and single dose. Multi-dose packaging dominated the market in 2017. It is driven by patient demand, convenience of usage, and increasing disease burden worldwide. The segment is anticipated to continue leading over the forecast period supported by growing demand and convenience of usage. Generally, multi-dose packaging for liquid ophthalmic products includes a bottle, dispensing tip or nozzle, cap, and tamper-evident features such as an overseal. The components for packaging are moderated by the Center for Drug Evaluation and Research (CDER).

Single-dose packaging is meant for one-time use of the products. It do not contain preservatives, thus minimizing the risk of allergic reactions to patients. The segment growth is supported by the demand for single dose packaging in ophthalmic surgeries, reduced chances of contamination, and improved healthcare manufacturing facilities.

Material Insights

Based on type, the ophthalmic packaging market is segmented into plastic and glass. Plastic captured the largest market share in 2017 and is mainly driven by factors such as lower weight, reduced cost, and convenience of usage. Low-density polyethylene (LDPE) resin offers some key clinical advantages such as inertness, flexibility, and decreased chances of contamination. In addition, demand for polypropylene is expected to rise on account of superior molding properties coupled with absence of any major negative effects on the medical device.

Glass is specifically used for storing powders for reconstitution due to their heat-transfer properties that are mandatory for freeze-drying procedures. In addition, it is more preferred packaging option for ophthalmic drugs that are sensitive to oxygen and reactive/incompatible with plastic. Glass containers are chemically inactive, strong, water resistant, economically viable, and FDA approved. These factors are likely to drive the demand for glass containers over the forecast period.

Type Insights

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.

Global ophthalmic packaging market

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.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Rest of World

Country scope

U.S., Canada, Germany, U.K., Japan, China, India, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2025. For the purpose of this study, Grand View Research has segmented the global ophthalmic packaging market report on the basis of dose, type, material, and region:

  • Dose Outlook (Revenue in USD Million, 2014 - 2025)

    • Multi Dose

    • Single Dose

  • Type Outlook (Revenue in USD Million, 2014 - 2025)

    • OTC

    • Prescription

  • Material Outlook (Revenue in USD Million, 2014 - 2025)

    • Glass

    • Plastic

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

Key questions answered by the report
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