The U.S. market for pharmaceutical plastic bottles derives much of its growth by addressing the growing sustainability concerns by increasing the recycling rate of plastics and lowering the environmental impact in the pharmaceutical industry. The advancements in the technology has emerged as the key growth driver of this market. Apart from this, the rising application of plastic bottles in solid and liquid oral medications is also adding to the market’s growth significantly.
In addition to this, the growing popularity of plastic bottle, owing to the convenience, safety, and security they offer, is likely to fuel the demand for pharmaceutical plastic bottles in the U.S., leading to a phenomenal rise in this market over the next few years. However, the eco-friendly substitutes for PE and PET, such as glass, metal, and sugarcane, which is also a renewable material, may limit this demand to some extent and hamper the growth of the U.S. pharmaceutical plastics bottles market in the years to come.
The U.S. market for pharmaceutical plastics bottles presented an opportunity worth US$6.74 bn in 2016. Analysts expect it to progress at a CAGR of 4.10% between 2016 and 2024 and reach a value of US$9.28 bn by the end of 2024.
Packer Bottles to Continue to Attract High Demand in U.S.
The report analyzes the U.S. market for pharmaceutical plastic bottles on the basis of several important parameters. One of those is the type of the pharmaceutical plastic bottle, based on which this market has been classified into packer bottles, liquid bottles, dropper bottles, and various other types of bottles, such as Boston round bottle and bullet. Among these, the demand for packer bottles is much higher than other types of pharmaceutical plastic bottles.
With a share of nearly 50%, this segment is likely to retain its dominance over the forecast period, thanks to the increasing demand for customized pharmaceutical plastic packer bottles. However, the demand for liquid bottles is expected to increase at a greater pace in the next few years due to the increasing intake of drugs in the form of syrup and solutions, notes the study.
U.S. Market to Gain Significantly from Growing Popularity of Pharmaceutical Plastic Bottles
“The U.S. market for pharmaceutical plastic bottles has gained immensely by addressing the rising concerns pertaining to sustainability by lowering the environmental impact and increasing the rate of plastics recycling in the pharmaceutical industry,” states the author of this research study. The technological advancements are the key to the growth of the U.S. market for pharmaceutical plastic bottles. The increasing usage of plastic bottles in solid and liquid oral medications has also been fueling this market substantially.
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On the other hand, the easy availability of eco-friendly alternatives for PE and PET, such as glass, metal, and sugarcane, may hamper the growth of this market to some extent in the years to come. However, the growing popularity of plastic bottle, thanks to the convenience, security, and safety offered by them, is projected to boost the demand for these bottles in this country over the next few years, leading to a phenomenal rise in the U.S. market for pharmaceutical plastic bottles, states the research report.