PHARMACEUTICAL PLASTIC BOTTLES MARKET ANALYSIS

The global pharmaceutical plastic bottles market size was valued at USD 8.08 Billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 4.11% from 2022 to 2030. The pharmaceutical plastic bottle industry is expected to continue to experience strong growth during the coming decade, due to an increase in spending in the healthcare sector. Increasing use of dietary supplements and healthcare products is also driving demand for these packaging materials. Furthermore, stringent government regulations are also supporting the industry's growth. In addition to this, new innovations in technology are bolstering the growth of the pharmaceutical plastic bottles market. Increasing use of RFID and QR codes for tamper-proof packaging are contributing to the industry's expansion. Moreover, anti-counterfeiting technologies are becoming increasingly prevalent in the pharmaceutical industry. Quick response codes (QR) and radio-frequency identification (RFID) technologies are used to track inventory.

Global Pharmaceutical Plastic Bottles Market: Regional Insights

Regionally, North America is projected to dominate the global pharmaceutical plastic bottles market over the forecast period owing to the constantly growing consumption and industrial applications of plastic-made containers and bottles. According to the Plastics Industry Association (PLASTICS), the market demand for plastic bottles continues to expand in the United States. Plastic projects are anticipated to increase across several products and sectors, including beverage, food and water, pharmaceutical, and household sectors.

Europe is also expected to witness fastest growth in the global market over the forecast period owing to the growing focus on innovation and recyclability of plastic bottles. For instance, Germany is a largest country for pharmaceutical R&D, production, and distribution. Other factors such as demographic change, an increase in chronic diseases, and a rising emphasis on preventive and self-medication is again augmenting regional market growth.

Figure 1. Global Pharmaceutical Plastic Bottles Market Value Share (%), By Region, 2021

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Global Pharmaceutical Plastic Bottles Market Drivers:

Growing need for lightweight pharma bottles among consumers is primarily fueling growth of the pharmaceutical plastic bottles market. For instance, in July 2020, Honeywell Performance Materials and Technologies introduced Aclar Edge multilayer barrier bottles and vials as a safer and lightweight alternative to glass for pharmaceutical packaging that outshines other plastic containers with moisture barrier comparable to glass and enhanced oxygen barrier.

Increasing spending on healthcare and pharmaceutical industry is again anticipated to foster market growth. According to the Centers for Medicare & Medicaid Services, health spending measures the final consumption of healthcare goods and services (i.e., current health expenditure), including personal health care and collective services (prevention and public health services as well as health administration), but excluding spending on investments. The US health care spending grew 9.7% in 2020, reaching USD 4.1 trillion or USD 12,530 per person. The share of the nation's gross domestic product health spending accounted for 19.7% in 2020.

Global Pharmaceutical Plastic Bottles Market Opportunities:

Strong growth of e-commerce industry is projected to serve major growth opportunities in the near future. Factors such as growing consumer expectations, regulatory changes, and pressures to lower price of prescription are driving the growth of pharmacy e-commerce. Countries such as India, China, and the United States are already witnessing an upsurge in the growth of the e-pharmacy sector.

Growing environmental awareness is creating demand for sustainable packaging which is again augmenting growth of the market. Furthermore, lightweight closure design is gaining traction in the market as light-weighting has become a goal of continuous innovation as for manufactures. It also require less resin, and this can efficiently reduce cost of material cost in the injection molding process.

Global Pharmaceutical Plastic Bottles Market Trends:

Growing trend of green initiatives is likely to favor the eco-friendly packaging solution. Further, continuous innovation in material science will resultant into the development of highly sustainable packaging materials that can accomplish the sustainability requirement of pharmaceutical bottles without compromising the quality of packaging.

Global Pharmaceutical Plastic Bottles Market Restraints:

Increasing cost of raw materials is expected to hamper the market growth. For instance, according to the All India plastic industry associations, in March 2021, about 50,000 units in the plastics processing sector are believed to be operating below 50% of their rated capacity due to a sharp rise in raw material prices. They added that if the crisis prolonged, about 20,000 MSME plastic units would be forced to close down.

Growing environmental concerns over plastic usage is again anticipated to hinder the market growth. It has been estimated by the United Nations Environmental program that 46,000 pieces of plastic debris float on every square mile of the ocean surface.

Figure 2. Global Pharmaceutical Plastic Bottles Market Value Share (%), By Raw Materials, 2021

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Global Pharmaceutical Plastic Bottles Market Segmentation:

The global pharmaceutical plastic bottles market report is segmented into raw material, type, and geography

Based on raw material, the market is segmented into Polyethylene Terephthalate (PET), Poly Propylene (PP), Low Density Polyethylene (LDPE), and High Density Polyethylene (HDPE). Out of which, Polyethylene Terephthalate (PET) is expected to dominate the global market over the forecast period and this is attributed to the increasing adoption across pharmaceutical industry to for to weight reduction by up to 90%, compared to glass as they offer more economical transportation process. At present, plastic bottles produced from PET are widely replacing heavy and fragile glass bottles in the pharmaceutical industry, as they provide reusable packaging for various liquids.

High Density Polyethylene (HDPE) segment is also expected to witness significant growth in the near future and this is owing to its excellent stiffness and barrier properties. This material has a pigmented variety, which is majorly used for the packaging of light-sensitive drugs. According to the Plastics Europe, an association of European plastic manufacturers report published in December 2020, the annual demand for HDPE in Europe was around 6.5 Billion tons in 2019.

Based on type, the market is segmented into Solid Containers, Dropper Bottles, Nasal Spray Bottles, Liquid Bottles, Oral Care, and Other Types. Out of which, Dropper Bottles is expected to dominate the global market over the forecast period as these bottles offer easy liquid dispensing in the pharmaceutical industry. These bottles are available in clear options or popular colors for UV protection, such as amber, cobalt, and emerald, in order to protect liquid from light contamination. Moreover, various companies looking forward to develop eco-friendly packing solution. For instance, in November 2021, Santen unveiled plans to launch the first bio-based plastic eye drop bottle in the Europe, Middle East and Africa (EMEA) region as part of its zero-carbon commitment.

Nasal spray bottles segment is also expected to witness significant growth in the near future and this is owing to the increasing number of patients suffering from sinusitis. According to Medical Devices Business Services Inc., sinusitis affects 35 Billion people each year in the United States, making it one of the most common health problems in the country. It is more prevalent than heart disease and asthma and has a more significant impact on the quality of life than chronic back pain or congestive heart failure.

Global Pharmaceutical Plastic Bottles Market: Key Developments

1. In January 2021, Gerresheimer constructed a new plastic container manufacturing plant in India. As a result, Gerresheimer focuses on the primary pharmaceutical packaging made of plastic at its Kosamba factory near Mumbai.
2. In April 2021, Alpha Packaging announced the acquisition of Boxmore Plastics Limited located in Ballyconnell, County Cavan, Ireland. Boxmore is a manufacturer of high-density polyethylene (HDPE) plastic packaging for the beverage, industrial, concentrates, healthcare, and food markets in Ireland.
3. In September 2021, Clearlake Capital Group portfolio compan Pretium Packaging agreed to acquire US-based Alpha Packaging from Irving Place Capital for an undisclosed sum. The combination of Alpha Packaging and Pretium Packaging will allow the combined entity to offer a wide range of advanced packaging solutions to both firms’ existing customer bases and new customers.

Global Pharmaceutical Plastic Bottles Market: Key Companies Insights

The global pharmaceutical plastic bottles market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global pharmaceutical plastic bottles market are Amcor Limited, Gerresheimer AG, 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

*Definition: Pharmaceutical Plastic Bottles are used in the pharmaceutical industry for packaging of solid and liquid formulations. The polymer used in pharmaceutical plastic bottles is recycled. Injection-stretch blow moulding processes are used to make clear and high-quality bottles. Various polymers are used in these processes, including HDPE, polypropylene (PP), and polyethylene (HDPE).