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The Pharmaceutical Plastic Bottles Market Size is valued at USD 7.62 Billion in 2023 and is predicted to reach USD 12.45 Billion by the year 2031 at a 6.7% CAGR during the forecast period for 2024-2031.
The demand for plastic packaging has witnessed a large increase in the pharmaceutical industry due to its unrivaled ability. Barrier against moisture, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, heat and flame resistance, and extension of expiry dates are other features that have led to increased adoption in pharma. The market for pharmaceutical plastic bottles is expanding due to rising sustainability concerns, which are being addressed by increasing recycling rates and reducing the pharmaceutical industry's environmental impact. Technological advancements and the increasing use of plastic bottles in solid and even liquid oral medicines have contributed to the growth of the pharmaceutical plastic bottle market. Increased use of dietary supplements and other healthcare products is also driving demand for pharmaceutical plastic bottles, which is expected to drive the target market's growth.
However, growing concerns about the use of plastics due to their negative impact on the environment are driving consumers to reduce their use, which may limit the target market's growth to some extent. Furthermore, one of the factors impeding the development of the global pharmaceutical plastic bottle market is stringent government plastic regulations.
Market Segmentation:
The global pharmaceutical plastic bottle market is segmented based on bottle types, material types, and capacity. Based on bottle types, the market is segmented as plastic bottles for the solid formulation, plastic bottles for liquid, and plastic bottles for ophthalmic/nasal formulation. The other material types segment includes polyethylene (PE), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC). By capacity, the market is segmented into below 100 ml, 100 ml – 250 ml, and above 250 ml.
Based On Material Types, The High-Density Polyethylene (HDPE) Segment Is Accounted As A Major Contributor To The Pharmaceutical Plastic Bottles Market
The high-density polyethylene (HDPE) category is expected to hold a major share in the global pharmaceutical plastic bottle market in 2021. This is attributed to the growing usage of high-density polyethylene (HDPE) in manufacturing pharmaceutical plastic bottles. HDPE is operated to make a variety of bottles, including un-pigmented bottles, which are translucent and have excellent stiffness and barrier properties. According to Plastics Europe, a report published by an association of European plastic manufacturers in December 2020, the consumption of HDPE in Europe in 2019 was around 6.5 million tons. HDPE is also commonly used in the commercial sector for larger containers due to its high strength-to-weight ratio and lower brittleness than PP. It keeps its lightweight nature when molded, making it suitable for larger containers such as plastic canisters. The new barrier resin technology uses less resin to mold and craft high-density polyethylene (HDPE) bottles while maintaining barrier protection properties.
Plastic Bottles For The Ophthalmic/Nasal Formulation Segment Witnessed Growth At A Rapid Rate.
Plastic bottles for the ophthalmic/nasal formulations have emerged as the leading contributors to the growth of the global pharmaceutical plastic bottles market, based on bottle types of segment. The increased use of corticosteroid drugs in nasal formulations for a variety of treatments is increasing consumption. Moreover, the growing problem of pollution-related eye allergies is a significant factor driving up demand.
In The Region, The North American Pharmaceutical Plastic Bottles Market Holds A Significant Revenue Share.
The North American pharmaceutical plastic bottles market is expected to register the highest market share in terms of revenue during the forecast period. The market for plastic bottles in the United States is expected to increase substantially due to rising consumption and industrial applications of plastic-made containers and bottles. Plastic projects are expected to increase across various products and industries, including beverage, food and water, pharmaceutical, and household. According to Pharmaceutical Commerce, the pharmaceutical market in the United States is expanding. Americans are expected to spend USD 635 to USD 655 billion on pharmaceuticals by 2023. In comparison to 2019, this represents a solid 29.6–33.7% increase in spending in 2020. As a result, it is almost certain that it will be the country with the highest pharmaceutical expenditure. In addition, Asia Pacific is projected to grow at a rapid rate in the global pharmaceutical plastic bottles market owing to the strong presence of manufacturing industries. Besides that, lower labour costs and easy access to raw materials are also expected to drive the region's target market growth. China is one of Asia's largest pharmaceutical markets, making it profitable for manufacturers of pharmaceutical plastic bottles.
Competitive Landscape
Some Major Key Players In The Pharmaceutical Plastic Bottles Market:
- Berry Global Inc.
- Amcor Plc
- Gerresheimer AG
- AptarGroup, Inc.
- Berk Company, LLC
- Alpha Packaging Holdings, Inc.
- Comar, LLC
- Alpack Inc.
- ALPLA Werke Alwin Lehner GmbH & Co KG
- Drug Plastics Group
- Bormioli Pharma S.p.a.
- L.Smith Company
- United States of America Plastic Corporation
- Weener Plastics Group BV
- Origin Pharma Packaging
- Pretium Packaging Corporation
- Pro-Pac Packaging Group Pty Ltd
- Gil Plastic Products Ltd,
- Drug Plastics Group,
- Frapak Packaging
- Other Prominent Players
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Pharmaceutical Plastic Bottles Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 7.62 Billion |
|
Revenue Forecast In 2031 |
USD 12.45 Billion |
|
Growth Rate CAGR |
CAGR of 6.7 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Bottle Types, By Material Types, By Capacity |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Berry Global Inc., Amcor Plc, Gerresheimer AG, AptarGroup, Inc., O. Berk Company, LLC, Alpha Packaging Holdings, Inc., Comar, LLC, Alpack Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Drug Plastics Group, Bormioli Pharma S.p.a., C.L.Smith Company, United States of America Plastic Corporation, Weener Plastics Group BV, Origin Pharma Packaging, Pretium Packaging Corporation, Pro-Pac Packaging Group Pty Ltd, Gil Plastic Products Ltd, Drug Plastics Group, Frapak Packaging, Other Prominent Players |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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