The Latin America, Middle East and Africa Ophthalmic Packaging Market would witness market growth of 13.1% CAGR during the forecast period (2021-2027).
Drug delivery is considered as the approaches, technologies, formulations, and systems for transporting pharmaceutical compounds in the body as and when needed for safely achieving their intended therapeutic effect. The demand for drug delivery devices would be fueled by the surge in the occurrence of eye disorders, constant technological developments, the rising deployment of individual therapies, and an increase in awareness about eye care.
Higher focus on education and training among the eye care professionals about eye diseases and related complications are expected to drive the growth of ophthalmic packaging solutions in the regional market. In addition, the region has lesser number of market players that prompt key players to enter the region and invest heavily in ophthalmic services and solutions. Moreover, these players are establishing new R&D centers for designing advanced packaging solutions that can prevent contamination.
Moreover, the rising number of geriatric population and eye diseases is expected to drive ophthalmic packaging solutions in the region. Furthermore, there has been a substantial rise in lifestyle-related ocular diseases, hence creating a high demand for treatment drugs. As a result, ophthalmic packaging is essential for treatment drugs to prevent contamination. All these factors are expected to open new avenues of growth for the players operating in the regional ophthalmic packaging market during the forecasting period.
The Prescription market dominated the South Africa Ophthalmic Packaging Market by Type in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $190.2 million by 2027. The OTC market is expected to witness a CAGR of 14.2% during (2021 - 2027).
Based on Dose, the market is segmented into Multi Dose and Single Dose. Based on Material, the market is segmented into Plastic, Glass and Other Materials. Based on Type, the market is segmented into Prescription and OTC. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Ophthalmic Packaging Market is Predict to reach USD 20.6 Billion by 2027, at a CAGR of 12.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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