Published Date: 2-Nov-2021
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According to a new report Global Ophthalmic Packaging Market, published by KBV research, The Global Ophthalmic Packaging Market size is expected to reach $20.6 billion by 2027, rising at a market growth of 12.1% CAGR during the forecast period.
The prescription segment garnered the maximum revenue share of the ophthalmic packaging market in 2020. This is credited to its extensive utilization as a first-line treatment. The prescription segment would be fueled by the growing geriatric population across the globe and next-generation drug delivery mechanisms. Prescription medicines are commonly utilized for more complex ophthalmic diseases like glaucoma or severe conjunctivitis.
The multidose segment acquired the maximum revenue share of the market in 2020. Moreover, the segment would showcase a promising growth rate during the forecast period. The growth of the segment would be fueled by the increasing penetration of multidose containers in the ophthalmic packaging market. Additionally, these containers are extremely patient compliant and eco-friendly. It is simpler for a patient to carry an eye drop in comparison to the strips of single-dose containers.
In 2020, North America emerged as the leading region in the global ophthalmic packaging market. This is attributed to the surge in the occurrence of ocular disorders, strict regulations in parametrical packaging, the surge in export of ophthalmic products, massive investment in R&D specific to the ophthalmic field. The growth of the regional market would witness bright prospects due to the patent expiration, supportive government policies, increasing aging population, and surging healthcare expenditure.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Becton, Dickinson and Company, Amcor PLC, AptarGroup, Inc., West Pharmaceutical Services, Inc., Gerresheimer AG, Schott AG (Carl-Zeiss-Stiftung), Nolato AB, LF of America Corp. (Tekni-Plex, Inc.), and Bormioli Pharma S.p.a.
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