Global pharmaceutical plastic bottles market was capitalized at USD 7.68 billion during 2019 and is estimated to attain USD 9.70 billion by the end of 2025, growing at a CAGR of 4.20%.
Global Pharmaceutical Plastic Bottles Market: Overview
Pharmaceutical plastic bottles are rigid packaging solutions specifically used for packaging solid as well as liquid pharmaceutical products. The use of well-characterized materials to manufacture pharmaceutical plastic bottles is the primary means of ensuring that the packaging solution is suited for its intended use. As in pharmaceutical packaging, the characteristics of materials have to be matched to the performance requirement of the packaged drug.
The global pharmaceutical plastic bottles market was around USD 28,427 million in 2019 and is likely to grow at a CAGR of 5.7% during the forecast period 2020–2026.
Global Pharmaceutical Plastic Bottles Market: Growth Factors
Conventionally, glass bottles have been used for packaging pharmaceuticals. Manufacturers are substituting glass bottles with pharmaceutical plastic bottles as the latter provides the same benefits as glass bottles and are not prone to breakage. Pharmaceutical plastic bottles are an economical alternative. Hence, they are easier to procure. Also, pharmaceutical plastic bottles are light in weight and less bulky. This makes shipping and transit of pharmaceutical plastic bottles hassle-free, thereby propelling the market trends.
The rise in the usage of plastic bottles in the pharmaceutical and healthcare industries can be majorly attributed to the convenience they offer in the delivery of liquid medicines, ease of use, and safety. Moreover, pharmaceutical plastic bottles when compared to metals are light in weight and less vulnerable to breakage. Most sensitive drugs are packaged with PET (Polyethylene terephthalate) pharmaceutical plastic bottles, which offer high strength, impact resistance, and barrier resistance against oxygen as well as moisture. The aforementioned factors will drive the pharmaceutical plastic bottles market growth in the near future.
Global Pharmaceutical Plastic Bottles Market: Segmentation
The global pharmaceutical plastic bottles market can be divided into material type, bottle type, application, and end-user. Based on the material type, the market is sectored into polyethylene terephthalate (PET), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyvinyl chloride (PVC), and polypropylene (PP). On the basis of bottle type, the market is sectored into Packer Bottles, Dropper Bottles, Liquid Bottle, Boston Round Bottle, and Bullet. Application-wise, the market is classified into E-liquid, Liquid, Droppers, Oral Care, and Topical Medication. On the basis of the end-user, the market is segmented into Pharmaceutical Companies, Compounding Pharmacies, Chemical Companies, Healthcare Centers, and Pharmaceutical Packaging Companies.
Global Pharmaceutical Plastic Bottles Market: Regional Analysis
Based on regions, the global pharmaceutical plastic bottles market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is set to grow at the highest CAGR owing to the immensely growing pharmaceutical sector n India and China. The rising presence of multinationals in India and Southeast Asia combined with a large number of SMEs in China are likely to fuel the demand for pharmaceutical bottles during the upcoming years. On the other hand, North America is likely to witness significant growth during the forecast period 2020–2026. This is accredited to the rising penetration of pharmaceutical plastic bottles among various end-users such as pharmaceutical companies, chemical companies, pharmaceutical packaging companies, healthcare centers, and compounding pharmacies among others.
The Middle East & Africa and Latin American markets have substantial growth prospects and are likely to contribute significantly to the growth of the market.
Global Pharmaceutical Plastic Bottles Market: Competitive Players
Some of the major players operating in the pharmaceutical plastic bottles market Gerresheimer AG, Amcor Limited, Berry Global Group Inc, AptarGroup Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Alpha Packaging Inc., RPC M&H Plastics Ltd., Graham Packaging Company Inc., Resilux NV, Drug Plastics & Glass Co., Inc., Pretium Packaging, LLC, Silgan Holdings Inc., O. Berk Company, LLC, Bormioli Pharma S.p.a., C.L.Smith Company, PACCAR International GmbH, Pro-Pac Packaging Group Pty Ltd, Comar LLC, and Weener Plastics Group BV.
Global Pharmaceutical Plastic Bottles Market: Regional Segment Analysis