Pharmaceutical plastic bottles are made from a variety of different materials. These bottles are lightweight and non-fragile, making them an excellent choice for pharmaceutical manufacturers. They also have excellent chemical and water vapour permeability and sealing properties. The major materials used in these bottles include high density polyethylene (HDPE) bottles, polypropylene bottles, polycarbonate bottles, and polyester bottles.
The global pharmaceutical plastic bottles market is estimated to account for US$ 8.08 Billion in terms of value by the end of 2021.
Global Pharmaceutical Plastic Bottles Market: Drivers
Growing demand for sustainable packaging is projected to increase the consumption of sustainable materials such as PE and PET from sugarcane, corn starch gelatin, PLA (polylactic acid), pectin, post-consumer regrind (PCR), and wheat bran. Moreover, increasing innovation in material science will lead to development of eco-friendly packaging solution.
Global Pharmaceutical Plastic Bottles Market: Opportunities
Increasing investment in plastic packaging by key players to increase the production capacity is projected to offer significant growth opportunities over the forecast period. For instance, in May 2022, Gerresheimer has ramped up its glass and plastic production capacities in India. A new modern plant will produce high quality plastic containers and closures was built at the Kosamba site, and glass production received a new state-of-the-art and sustainable furnace technology.
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Global Pharmaceutical Plastic Bottles Market: Restraints
Growing market share of glass packaging is expected to restrict market growth.
Global Pharmaceutical Plastic Bottles Market - Impact of Coronavirus (Covid-19) Pandemic
With the increasing demand for medicine and other essential goods at an all-time high, a lack of available packaging to package and ship them further, caused a significant interruption in supply chains. However, the demand increased for some medicines used in patients with COVID-19. These included some anesthetics, antibiotics, muscle relaxants, and some medicines used off-label. This led to the supply of plastic bottles in the pharma companies. However, with the outbreak of COVID-19, sanitizer bottles observed a spike of nearly 73% in demand in the United States region. According to the US FDA, most of these bottles are manufactured using PET, which is further expected to witness unprecedented market demand in the foreseen period.
The global pharmaceutical plastic bottles market was valued at US$ 8.08 Billion in 2021 and is forecast to reach a value of US$ 13.5 Billion by 2030 at a CAGR of 4.11% between 2022 and 2030
Polyethylene Terephthalate (PET) segment held dominant position in the global pharmaceutical plastic bottles market in 2020, accounting for 42.08% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Pharmaceutical Plastic Bottles Market Trends:
Increasing adoption of PET as a packaging materials for weight reduction is a growing trend. PET bottles provide good oil barrier, which resist the chemicals that may damage the plastic container. Moreover, it can be easily blown into a bottle or converted into a sheet. Furthermore, its properties can be enhanced with UV blockers, colorants, oxygen barriers/scavengers, and other additives to produce a bottle to match a company’s specific needs.
New product launch due to continuous innovation in the product is another major trend observed in the market. For instance, in February 2022, Coveris, has launched a range of lightweight, next generation stretch films containing a minimum 30% recycled content to reduce reliance on virgin plastics and meet forthcoming UK Plastic Packaging Tax requirements. The new films are the thinnest recycled stretch films currently available.
Global Pharmaceutical Plastic Bottles Market: Competitive Landscape
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
Global Pharmaceutical Plastic Bottles Market: Recent Developments