Ophthalmic Packaging Market to Signify Strong Growth by 2024-2031

Global ophthalmic packaging market is anticipated to grow at a considerable CAGR of 8.6% during the forecast period (2024-2031).The rising prevalence of eye disorders and illnesses, such as cataracts, glaucoma, and age-related macular degeneration have created the need for ophthalmic products. This raises the need for specialized packaging to ensure the efficacy and security of these products. According to the CDC, in the US, 3 million people have uncorrected refractive errors causing visual impairment, 8 million have corrected eyesight causing visual impairment, and 1 million persons who are 40 years of age or older are blind. 6.8% of children under the age of 18 have a medical diagnosis of an eye or visual issue. Less than 18 years old makes up about 3.0% of the population who are blind or visually impaired defined as having vision impairments even while wearing glasses or contact lenses. Thus, it is expected that throughout the projected period, the growing incidence of eye problems will drive market expansion.

For instance, in August 2023, Amcor announced the acquisition of Phoenix Flexibles, to expandscalable flexible packaging plant in high-growth Indian market. The addition of Phoenix Flexibles has capitalized and strategically located production facility will immediately increase Amcor’s capacity to satisfy continued high demand and drive strong returns for shareholders. The acquisition has added advanced film technology, enabling local production of a broader range of more sustainable packaging solutions, and brings capabilities allowing Amcor to expand its product offering in attractive high-value segments.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Material
• By Product Type
• By Application

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- includes Amcor Group GmbH, West Pharmaceutical Services, Inc., Gerresheimer AG, SCHOTT AG, AptarGroup, Inc. and Akorn, Inc., among others.

Ophthalmic Packaging Market Report Segment

By Material

• Plastic
• Metal
• Glass

By Product Type

• Bottles & Vials
• Blister Packs
• Ampoules
• Squeezable Tubes

By Application

• Prescription Medication
• OTC Products
• Medical Devices

A full Report of Ophthalmic Packaging Market is Available @  https://www.omrglobal.com/industry-reports/ophthalmic-packaging-market

Ophthalmic Packaging Market Report Segment by Region

North America                                                                                                           

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles

• Aerie Pharmaceuticals, Inc.
• Akorn Inc.
• Alcon
• Allergan Plc
• AptarGroup Inc.
• Bausch & Lomb Inc.
• Bayer AG
• Hoffmann-La Roche Ltd.
• Johnson & Johnson Vision
• Merck Sharp & Dohme Corp.
• Mitotech SA
• Novartis AG
• Santen Pharmaceutical Co.
• SCHOTT AG
• Teva Pharmaceutical Industries Ltd.

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Article source: https://article-realm.com/article/Business/63153-Ophthalmic-Packaging-Market-to-Signify-Strong-Growth-by-2024-2031.html