New York, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Ophthalmic Packaging Market revenues were estimated at US$ 4.2 Bn in 2021 and is anticipated to grow at a CAGR of 16.4% from 2022-2032, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach US$ 21.7 Bn.
The growth of the ophthalmic packaging market is being fueled by the development of novel packaging materials, the growing need to comply with new laws, and the spike in demand for brand improvement and differentiation in a crowded industry. Ophthalmic packaging solutions have become more popular as the occurrence of ocular illnesses such as conjunctivitis and dry eye has increased.
Request for SAMPLE copy of report: https://www.persistencemarketresearch.com/samples/33242
Key Takeaways from the Market Study
- Global Ophthalmic Packaging Market is expected to reach a market size of US$ 4.8 Bn by 2022.
- The Multidose segment is expected to account for the highest CAGR of 17% during the forecast period.
- United States to remain the dominant country in the market, with a projected market of US$ 6.5 Bn by 2032.
- The market in China is set to experience the highest CAGR of 21.6% during the forecast period.
The growing need for brand improvement and differentiation in a highly competitive environment, the development of novel packaging materials, and the growing requirement to comply with new regulatory standards on packaging material recycling are some of the reasons driving market expansion.
The market shrank considerably in 2020 compared to 2019 due to the ongoing Covid-19 outbreak. COVID-19 has had a considerable impact on the entire ophthalmic sector, despite the fact that only a tiny fraction of patients visit hospitals.
The COVID-19 pandemic has a negative impact on the ophthalmic packaging market's growth and demand. Furthermore, the COVID-19 epidemic has disrupted the global ophthalmic industry, with only a small number of patients visiting hospitals. In order to cope with the shifting environment, important market players, on the other hand, are developing unique strategies.
MAKE THIS REPORT YOUR OWN, Request Customization: https://www.persistencemarketresearch.com/request-customization/33242
Competitive Landscape
Some of the companies operating in the ophthalmic packaging market are Amcor plc, West Pharmaceutical Services, Gerresheimer AG, Schott AG, Aptar Group, Nolato, and BD.
Some of the recent Developments of key Ophthalmic Packaging providers are as follows:
- In Aug 2021, Amcor unveiled a proprietary healthcare lidding technology. The technology would be used for combination products, which include two or more regulated components.
- In July 2021, Nolato increased its geographic reach by establishing its office in Baldwin, Wisconsin. As a result of this move, the company would expand its warehousing and production services for medical product’s needs. Moreover, the expansion was intended to help aid the production of diagnostic products and pharmaceutical drug manufacturing parts.
- In Oct 2020, Gerresheimer introduced DropControl, the most recent kind of drug dispenser. This product is well-suited for meds with an extremely small solids content in an ophthalmology setting.
Get FULL ACCESS of report: https://www.persistencemarketresearch.com/checkout/33242
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Ophthalmic Packaging Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Ophthalmic Packaging Market by Dose Type (Multi-Dose, Single Dose), by Type (OTC, Prescription), by Material Type (Glass, Plastic, Other Material Types), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Other Trending Reports:
- Tissue Glue and Bio-adhesive Sealants Market
- Combination Antibody Therapy Market
- Life Science Products Market
- Pressure Guidewire Market
- Intraoperative Imaging Market
- Radiology Information Systems Market
- Europe Cryochambers Market
- Diabetic Foot Ulcer Therapeutics Market
- Liquid Chromatography-Mass Spectroscopy Market
- DNA and RNA Sample Preparation Market
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
