Ophthalmic Packaging Market

The global ophthalmic packaging market size was USD 4.3 bn in 2022 and is likely to reach USD 21.6 bn by 2031, expanding at a CAGR of 16.5% during 2023–2031. The market growth is attributed to the increasing prevalence of eye disorders and the increasing need for brand development.

Eyes are one of the most important and sensitive organs in the human body. Even the tiniest irritation can cause excruciating pain and suffering, as well as swelling, discharge, infections, and allergies, which can damage the eyes permanently. Pharmaceutical packaging is important for both appropriate and sterile.

Ophthalmic products are sterile liquids, semi-solids, or solids containing one or more active medicinal components. Ophthalmic products are designed to be used on the conjunctiva, conjunctival sac, or eyelids. Ophthalmic products include eye drops, eye lotions, eye ointments, eye suspensions, and contact lens solutions. According to pharmaceutical manufacturing and packaging regulations, all ophthalmic goods must pass a sterility test.

Ophthalmic products are packaged in a variety of ways and materials by different pharmaceutical companies. Plastic bottles are mainly constructed of Low-Density Polyethylene (LDP), High-Density Polyethylene (HDPE), Polypropylene (PP), and other materials depending on the specific product which are widely used materials for packaging ophthalmic products.

The flexible plastic or foldable metal tubes are still used to package eye ointments. Caps and closures, as well as nozzles, are composed of polypropylene to avoid contamination and product leakage. Ophthalmic product caps and closures are also color-coded according to their Pharmaceutical Class. Every day, new and creative pharmaceutical packaging forms are being designed to serve the rising need for sterile, safe, and secure ophthalmic product packaging and distribution across the world.

For example, the StayClean flexible overwrap from Amcor Ltd. is designed to prevent packaging material components from transferring to the product and generating an unfavorable product-packaging interaction.

Ophthalmic Packaging Market Dynamics

The global ophthalmic packaging market report has up-to-date insights that help in formulating a strategic roadmap about the estimated market scenario and performance during 2023 to 2031.

What are the Drivers of the Ophthalmic Packaging Market?

Increasing Prevalence of Eye Disorders

The increasing prevalence of eye disorders such as diabetic retinopathy, glaucoma, cataracts, thyroid eye disease, optic neuritis, and dry eyes is expected to drive market growth during the forecast period. Ophthalmic packaging must meet specific requirements to ensure the product’s safety and effectiveness. The demand for eye care and several other treatments positively influences the growth of the ophthalmic packaging market.

What Restraints the Ophthalmic Packaging Market?

High Cost of Installation

The high cost of installation and maintenance of packaging machines is anticipated to hinder the growth of the ophthalmic packaging market. Packaging machineries are quite expensive.  Thus, the setting up of production requires high investment to establish a manufacturing industry, which may restrain the market at a certain limit.

What are the Opportunities in the Ophthalmic Packaging Market?

High Emphasis on R&D for new packaging

Increasing investment in research & development (R&D) across industries and the emerging advanced technology in packaging creates lucrative growth opportunities in the market. Furthermore, emerging countries such as India, China, and Brazil are providing the opportunity for the development of ophthalmology, due to the rapid expansion of manufacturing industries.

Scope of Ophthalmic Packaging Market Report

The global ophthalmic packaging market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Ophthalmic Packaging Market Segment Insights

What are the Main Aspects for Boosting the Multiple Dose Segment?

Based on dose, the ophthalmic packaging market is bifurcated into single dose and multiple doses. The multiple-dose segment is expected to account for a key share of the market during the forecast period due to the presence of smart, patient-friendly, and safer multi-dose products in the market.

The decision to use a single dosage or many doses is based on a number of factors, such as the drug's effectiveness, formulation, stability, and treatment duration. The market is predicted to grow due to an increase in the use of multiple dosage packaging techniques in OTC preparations, as well as an increase in the incidence of common ocular diseases such as red eyes, dry eyes, and conjunctivitis.

The single-dose segment is anticipated to expand at a rapid pace during the forecast period owing to the increasing need for safe drugs with minimum or no preservatives. Preservatives raise the price of the finished product. Furthermore, it has the potential to cause severe allergic reactions.

What are the Major Reasons for Rising Sales in Prescription Segment?

Based on type, the ophthalmic packaging market is bifurcated into prescription and over-the-counter (OTC) products. The prescription segment is expected to represent a key share of the market during the forecast period owing to the increasing prevalence of eye disorders and improved ophthalmic healthcare facilities.

The market for prescription-type ophthalmic packaging is expected to grow as accessibility to ocular healthcare clinics improves and advanced medication delivery technologies are developed. Furthermore, patients are far more hesitant to use OTC medications for ocular diseases, preferring instead to see an ophthalmologist to avoid the disease worsening. Therefore, as disposable income rises and people become more aware of the importance of preventative care, more people may consider seeing a doctor, fueling the market's growth.

The over-the-counter segment is anticipated to expand at a rapid pace during the forecast period due to the increasing prevalence of eye disorders such as red eyes and dry eyes syndrome. In OTC medications, multiple-dosage packaging is commonly utilized. This category is predicted to grow as people become more aware of self-medication and make more attempts to save future healthcare costs.

What Key Factors Contribute to the Rapid Expansion of the Plastic Segment?

Based on material, the ophthalmic packaging market is segmented into glass, plastic, and others. The plastic segment is expected to hold a key share of the market during the forecast period owing to its benefits such as inertness, cost-effectiveness, low weight, and ease of use.

Low-density polyethylene (LDPE) is the preferred type of plastic because of its flexibility and low risk of contamination. This material is also easily recyclable, making it perfect for single-dose containers. Plastic packaging demand is expected to rise over time as consumers emphasize product convenience more without compromising patient safety.

The glass segment is expected to expand at a significant growth rate during the projection period. Glass has long been used in pharmaceutical packaging, although it has significant drawbacks, such as brittleness, inconvenient handling, and high cost, and is thus rapidly being replaced by plastic. As a result of the high rate of replacement by innovative plastic alternatives, the glass segment is predicted to grow at a slower pace.

Why is North America Dominating the Global Ophthalmic Packaging Market?

In terms of region, the global ophthalmic packaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market CAGR during the forecast period. The regional market growth can be attributed to improved R&D and healthcare facilities, a growing geriatric population, a rise in the incidence of eye disorders, and the presence of strict regulatory authorities.

Europe is expected to exhibit a rapid growth rate in the coming years due to age-related ophthalmic disorders like macular degeneration, diabetic eye disease, and retinal vein occlusion. Furthermore, factors such as expanding national eye screening programs and developing ophthalmic care reimbursement policies are likely to drive the market forward over the forecast period.

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Segments

The global ophthalmic packaging market has been segmented on the basis of

Dose

• Multi dose
• Single dose

Type

• Over the Counter
• Prescription

Material

• Glass
• Plastic
• Others

Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

• Amcor Ltd.
• West Pharmaceutical Service Inc.
• Gerresheimer AG
• BD
• Schott AG
• Aptar Group
• Bemis Manufacturing Company
• James Alexander Corporation
• Berry Global Inc.
• LF of America Corp.

Competitive Landscape

Key players competing in the global ophthalmic packaging market are Amcor Ltd.; West Pharmaceutical Service Inc.; Gerresheimer AG; BD; Schott AG; Aptar Group; Bemis Manufacturing Company; James Alexander Corporation; Berry Global Inc.; and LF of America Corp.

These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide.

In December 2021, Amcor announced the opening of its greenfield packaging facility in Tunas, Singapore. The healthcare packaging facility addresses a current and future market trends.