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Ophthalmic Packaging Market Reflect Impressive Growth Rate to During 2020-2030
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Ophthalmic products are directly administered into the eyes, which make it crucial to pack these products with extreme care to ensure purity and prevention from all physical and chemical contamination. Manufacturers are developing innovative packaging formats to meet the growing need of secure packaging. As an effect, compared with the packaging used by solid oral products, ophthalmic drug packaging is perceived to be comparatively more convenient to the usefulness and safety of the medication. The increasing occurrence of eye-related diseases is the key driver of ophthalmic packaging market.
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Stricter Regulatory Requirements and Cost Pressure in Health Systems
Healthcare authorities have been continuously imposing regulatory requirements when it comes to drug formulations for ophthalmic medication, owing to its critical nature. These regulations are not only limited to the drug formulation but also to the packaging of the drugs used for ophthalmic purposes. Sterile and correct packaging of ophthalmic products is extremely crucial for human health. Primary packaging must protect the medication without contaminating it and prevent loss of efficacy. For this reason, healthcare regulatory authorities now, approve licenses not only on the basis of the drug formulation, but also the primary packaging used for the drugs or medication, which assures quality of medication.
Stringent adherence to current good manufacturing practices (cGMPs) to ensure the quality and safety of the ophthalmic packaging is the need of the hour for the pharmaceutical packaging industry. This has resulted in cost pressures on the manufacturers of ophthalmic solutions and primary packaging. Intelligent solutions for targeted use of medicines and drug delivery can help manufacturers significantly in reducing cost.
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Glass Material Possesses Delamination Risks Might Hinder Ophthalmic Packaging Market Growth in North America
Glass delamination is caused by glass chipping and surface degradation, which is visible as flakes within products or solutions. Delamination is a serious problem, as any foreign particle in the medication can turn out to be hazardous for application. This problem has led many pharmaceutical companies to recall their products in the past.
The main reason for the issues related to breakage of glass ophthalmic packaging is movement during shipment or transportation. Delamination is a major restraint observed when it comes to using glass as a material for ophthalmic packaging. Plastic is, therefore preferred by customers as well as the pharmaceutical companies to pack medications, as it provides flexibility, cost-effectiveness, and safety to the products without compromising on the safety or authenticity of the medication.
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North America Ophthalmic Packaging Market: Competition Landscape
The North America ophthalmic packaging market is highly consolidated in nature into which, larger portion of market share is held by large market players. Some of the key players operating in the North America ophthalmic packaging market are Schott AG, Berry Global Inc., Nolato AB, Bormioli Pharma, Tekni-plex Inc., WG Pro-Manufacturing Inc., Gerresheimer AG, West Pharmaceutical Services Inc., Aptar Group Inc., and Amcor Plc.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, players such as Berry Global Inc., Gerresheimer AG, Nolato AB, Aptar Pharma, and Amcor PLC are tier 1 players in the ophthalmic packaging market. These players characterized by high production capacity and wide product portfolio. Tier 2 players include West Pharmaceutical Service Inc., SCHOTT North America, Inc., and Bormioli Pharma S.p.A., among other players.
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