Global Ophthalmology Packaging Market to Reach US$ 3.40 Billion by 2024, Predicted to Grow at 5.4% CAGR Through 2034 | FMI

The global ophthalmology packaging market is poised for substantial growth, with Future Market Insights forecasting a rise from US$ 1,816.5 million in 2024 to US$ 3,063.9 million by 2034, at a CAGR of 5.4% during the forecast period. In 2023, the market generated US$ 1,734.5 million, showing a year-on-year growth of 4.7% in 2024.

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Key Market Insights:

1. Market Growth Drivers:
   • Increasing Prevalence of Eye Infections: Rising cases of eye infections globally, exacerbated by factors like improper eye hygiene and antibiotic resistance, are driving demand for ophthalmology packaging.
   • Rising Ophthalmology Disorders: Conditions such as dry eye syndrome, glaucoma, and allergies are becoming more prevalent, boosting the demand for eye care products and packaging.
2. Market Trends:
   • Innovative Packaging Materials: Development of recyclable and compliant packaging materials to meet sustainability goals and regulatory requirements is a key trend.
   • Technological Advancements: Advances in drug delivery systems and packaging technologies like unit dosage and preservative-free packaging are enhancing patient comfort and product safety.
3. Regional Insights:
   • United States: The market in the U.S. is projected to reach US$ 710.1 million by 2034, growing at a CAGR of 4.7%. Increasing adoption of contact lenses and prevalence of eye disorders among the aging population are major growth factors.
   • Japan: With nearly one-third of its population over 65 years old, Japan’s market is driven by the aging demographic prone to eye diseases, expected to grow at a CAGR of 3.7% through 2034.

Key Takeaways from the Global Ophthalmology Packaging Market

• The global ophthalmology packaging market is expected to reach US$ 3,063.9 million by 2034.
• By 2034, the global market is projected to surge at 5.4% CAGR.
• India is projected to surge at a CAGR of 8.3% through 2034.
• Based on region, Canada is set to rise at 6.2% CAGR during the forecast period.
• Based on application, the eye drop segment is set to surge at 5.0% CAGR through 2034.

Industry Impact:

• Economic Growth: The resurgence in infrastructure and real estate development globally is boosting demand for ophthalmology products and coatings, indirectly supporting the growth of ophthalmology packaging.
• Sustainability Focus: Manufacturers are increasingly focusing on sustainable packaging solutions, aligning with global initiatives to reduce environmental impact.

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Global Ophthalmology Packaging Industry Segmentation by Category

By Packaging Type:

The industry consists of five types of packaging solutions, namely, tubes, bottles, syringes, flexible pouches, and ampoules & vials. Both laminated and extruded plastic tubes are mainly demanded by customers. Bottles made of plastic and glass, on the other hand, are gaining impetus.

By Capacity:

Packaging solutions in the capacity of less than 2 ml, 2 to 5 ml, 6 to 10 ml, and above 10 ml are showcasing immense popularity globally.

By Distribution Channel:

The industry has several distribution channels, including institutional sales, retail sales, and e-commerce. Institutional sales channel consists of hospitals, ophthalmology clinics, public health agencies, and veterinary hospitals & clinics. Drug stores and retail pharmacies/supermarkets are estimated to create high popularity in terms of retail sales channels.

By Order Type:

Over-the-counter (OTC) and prescription are the two main types of orders.

By Application:

Several applications, such as eye drops, ophthalmology gels, ophthalmology ointment, and anti-VEGF drugs, are covered.

By End-use Case:

Some of the significant cases include refractive errors, cataracts & glaucoma, retinal disorders, corneal diseases, pediatric ophthalmology, neuro-ophthalmology, ophthalmology plastic surgery, uveitis & ocular inflammation, and other eye care cases.

By Region:

Information about leading countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa is provided.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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