Coherent Market Insights published a business research report on Pharmaceutical Plastic Bottles Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2023–2030. Pharmaceutical Plastic Bottles Market with 150+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. The information is gathered based on modern floats and requests identified with the administrations and items.
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The market for pharmaceutical plastic bottles was valued at USD 8.08 billion in 2021, and from 2022 to 2030, it is predicted to grow at a compound annual growth rate (CAGR) of 4.11%. Due to an increase in healthcare spending, the pharmaceutical plastic bottle industry is anticipated to continue growing rapidly over the next ten years. Demand for these packaging materials is also being fueled by rising use of healthcare and dietary supplement products. Government regulations that are very strict are also helping the industry grow. In addition, technological advancements are promoting the market expansion for plastic bottles used in pharmaceuticals. The industry is growing as a result of more tamper-proof packaging using RFID and QR codes. Additionally, anti-counterfeiting technologies are being used more and more frequently in the pharmaceutical sector. Inventory is tracked using radio-frequency identification (RFID) and quick response codes (QR) technologies.
Regional Insights
Regionally, North America is anticipated to lead the world market for pharmaceutical plastic bottles during the forecast period due to the region’s steadily expanding industrial use of plastic bottles and containers. The Plastics Industry Association (PLASTICS) reports that the market for plastic bottles in the US is still growing. Numerous products and industries, such as the beverage, food and water, pharmaceutical, and household sectors, are expected to see an increase in plastic projects.
Due to the increased emphasis on innovation and the recyclable nature of plastic bottles, Europe is also anticipated to experience the fastest growth in the global market over the course of the forecast period. The largest nation for pharmaceutical R&D, production, and distribution is, for instance, Germany. Regional market growth is once more being boosted by additional factors like demographic change, an increase in chronic diseases, and a growing emphasis on self-care and prevention.
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Market Drivers
The pharmaceutical plastic bottles market is expanding primarily due to rising consumer demand for lightweight pharmaceutical bottles. Aclar Edge multilayer barrier bottles and vials, for example, were introduced by Honeywell Performance Materials and Technologies in July 2020 as a safer and more portable substitute for glass in pharmaceutical packaging that outperforms other plastic containers with.
Again, it is anticipated that rising healthcare and pharmaceutical industry spending will promote market expansion. The Centers for Medicare & Medicaid Services state that health spending measures the final consumption of healthcare products and services (i.e., current health expenditure), which includes individual health care and collective services (prevention and public health services, as well as health administration), but excludes investment spending. The US spent 4.1 trillion dollars on healthcare in 2020, or USD 12,530 per person, a 9.7% increase. In 2020, the proportion of health spending in the GDP of the country was 19.7%.
Opportunities
Major growth opportunities are anticipated to arise in the near future as a result of the e-commerce sector’s rapid growth. The expansion of pharmacy e-commerce is being fueled by elements like rising consumer expectations, changing regulations, and pressure to reduce prescription drug prices. The e-pharmacy industry is already expanding at an accelerated rate in nations like India, China, and the United States.
Demand for sustainable packaging is increasing as environmental awareness grows, which is further fueling market expansion. Additionally, manufacturers are increasingly focusing on making products that are lightweight as a means of continuous innovation. Less resin is also needed, which effectively lowers the cost of materials used in the injection moulding process.
Market Trends
Eco-friendly packaging is likely to benefit from the growing trend of green initiatives. The development of highly sustainable packaging materials that can meet the sustainability requirements of pharmaceutical bottles without compromising the packaging’s quality will also be a result of ongoing innovation in material science.
Market restraints
The market’s growth is anticipated to be hampered by rising raw material costs. For instance, the All India Plastic Industry Associations estimate that in March 2021, due to a sharp increase in raw material prices, 50,000 units in the plastics processing sector will be operating below 50% of their rated capacity. They also mentioned that 20,000 MSME plastic units would have to close if the crisis persisted.
Again, it is anticipated that growing environmental concerns about plastic usage will impede market expansion. Every square mile of the ocean’s surface is thought to contain 46,000 pieces of floating plastic debris, according to the United Nations Environmental programme.
Market segmentation
The market is divided into Low Density Polyethylene (LDPE), Polypropylene (PP), Polyethylene Terephthalate (PET), and High Density Polyethylene (HDPE) based on the raw materials used (HDPE). Out of these, Polyethylene Terephthalate (PET) is anticipated to dominate the global market over the forecast period. This is due to the pharmaceutical industry’s growing adoption of PET, which allows for up to a 90% weight reduction when compared to glass. As they offer reusable packaging for a variety of liquids, PET plastic bottles are currently replacing heavy and delicate glass bottles in the pharmaceutical industry.
Due to its excellent stiffness and barrier properties, the High Density Polyethylene (HDPE) segment is also anticipated to experience rapid growth in the near future. There is a pigmented variety of this material that is primarily utilised for the packaging of medications with light sensitivity. The annual demand for HDPE in Europe was approximately 6.5 billion tonnes in 2019, according to a report from Plastics Europe, an association of European plastic manufacturers, which was published in December 2020.
Solid Containers, Dropper Bottles, Nasal Spray Bottles, Liquid Bottles, Oral Care, and Other Types are the types into which the market is divided. Out of these, Dropper Bottles are anticipated to rule the global market during the forecast period because they make it simple to dispense liquid in the pharmaceutical sector. To shield liquid from light contamination, these bottles come in clear options as well as popular UV-protective colours like amber, cobalt, and emerald. Additionally, many businesses want to create eco-friendly packaging solutions. For instance, as part of its zero-carbon commitment, Santen announced plans in November 2021 to introduce the first plastic eye drop bottle made from biomaterials in the Europe, Middle East, and Africa (EMEA) region.
Due to the rising number of people with sinusitis, the market for nasal spray bottles is also predicted to grow significantly in the near future. Sinusitis is one of the most prevalent medical conditions in the United States, affecting 35 billion people annually, according to Medical Devices Business Services Inc. It affects people’s quality of life more profoundly than chronic back pain or congestive heart failure and is more common than heart disease and asthma.
Key Developments
Gerresheimer built a brand-new plastic container manufacturing facility in India, which opened in January 2021. Gerresheimer concentrates on the plastic-based primary pharmaceutical packaging at its Kosamba factory, which is located close to Mumbai.
Alpha Packaging announced in April 2021 that it had acquired Boxmore Plastics Limited, which is based in Ballyconnell, County Cavan, Ireland. In Ireland, Boxmore produces high-density polyethylene (HDPE) plastic packaging for the food, industrial, concentrates, and beverage industries.
Pretium Packaging, a portfolio company of Clearlake Capital Group, has agreed to purchase US-based Alpha Packaging from Irving Place Capital for an undisclosed sum in September 2021. The union of Alpha Packaging and Pretium Packaging will enable the new company to provide both existing and potential clients with a broad range of cutting-edge packaging solutions.
Key company insights
The market for plastic pharmaceutical bottles is very crowded worldwide. This is attributed to the ongoing R&D efforts and launches of new technologies by value chain participants. Additionally, major players are implementing a variety of business expansion strategies in order to increase their presence on a regional and international scale. Amcor Limited, Berry Group Inc., Aptar Pharma, O.Berk Company LLC, Alpha Packaging, Pro-Pac Packaging Ltd, COMAR LLC, Gil Plastic Products Ltd, Drug Plastics Group, and Frapak Packaging are a few of the major companies in the global pharmaceutical plastic bottles market.
Pharmaceutical plastic bottles are used in the packaging of both solid and liquid formulations in the pharmaceutical industry. Plastic bottles for pharmaceuticals contain a recyclable polymer. Clear and premium bottles are produced using injection-stretch blow moulding processes. These procedures involve the use of a variety of polymers, including HDPE, polypropylene (PP), and polyethylene (HDPE).
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Pharmaceutical Plastic Bottles Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Pharmaceutical Plastic Bottles Industry Impact
Chapter 2 Global Pharmaceutical Plastic Bottles Competition by Types, Applications, and Top Regions and Countries
2.1 Global Pharmaceutical Plastic Bottles (Volume and Value) by Type
2.3 Global Pharmaceutical Plastic Bottles (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Pharmaceutical Plastic Bottles Sales, Consumption, Export, Import by Regions (2018-2023)
Chapter 5 North America Pharmaceutical Plastic Bottles Market Analysis
Chapter 6 East Asia Pharmaceutical Plastic Bottles Market Analysis
Chapter 7 Europe Pharmaceutical Plastic Bottles Market Analysis
Chapter 8 South Asia Pharmaceutical Plastic Bottles Market Analysis
Chapter 9 Southeast Asia Pharmaceutical Plastic Bottles Market Analysis
Chapter 10 Middle East Pharmaceutical Plastic Bottles Market Analysis
Chapter 11 Africa Pharmaceutical Plastic Bottles Market Analysis
Chapter 12 Oceania Pharmaceutical Plastic Bottles Market Analysis
Chapter 13 South America Pharmaceutical Plastic Bottles Market Analysis
Chapter 14 Company Profiles and Key Figures in Pharmaceutical Plastic Bottles Business
Chapter 15 Global Pharmaceutical Plastic Bottles Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology
Continued….
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