As per the report published by FMI, the global pharmaceutical plastic bottles market is projected to have a significant CAGR of 10.5% during the forecast period. The current valuation of the market is US$ 35.8 Billion in 2023. The market value of pharmaceutical plastic bottles is anticipated to reach US$ 97.1 Billionn by 2033. A historical CAGR of 7.4% has been recorded during the period 2016-2022.
In the pharmaceutical industry, plastic packaging is in high demand because of its unmatched capabilities. Moreover, additional features led to increased adoption in pharma, including moisture resistance, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, and heat and flame resistance.
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Pharmaceutical manufacturers are increasingly replacing glass bottles with pharmaceutical plastic bottles. Since they offer the same benefits and do not break as easily as glass bottles. In addition to being more economical than glass bottles, Pharma plastic bottles are also easier to procure. This makes shipping and transit of pharmaceutical plastic bottles hassle-free, thus propelling the market trend. Pharmaceutical plastic bottles are also light and less bulky.
In the pharmaceutical and healthcare industries, plastic bottles have become increasingly popular due to the convenience they offer in the delivery of liquid medicines and their ease of use. Moreover, pharmaceutical plastic bottles are lighter and less prone to breaking than metal bottles.
“Due to increasing sustainability concerns and a reduction in the pharmaceutical industry’s environmental impact, the market for pharmaceutical plastic bottles is growing. Advancements in technology and the use of plastic bottles for solid and liquid oral medicines have contributed to the growth of the pharmaceutical plastic bottle industry.“ says an FMI analyst.
Key Takeaways from the Pharmaceutical Plastic Bottles Market
- According to bottle type, plastic bottles for ophthalmic/nasal formulations have contributed the most to growth. The segment will account for 42.7% of sales in 2023.
- A valuation of US$ 9.2 Bn is expected in 2023 for the polyethylene terephthalate (PET) segment anticipated to increase at a CAGR of 4%.
- The demand for pharmaceutical plastic bottles in the U.K. is expected to rise at nearly 2% CAGR.
- The market in China is estimated to grow at a CAGR of 4%during the forecast period.
Competition Landscape in the Pharmaceutical Plastic Bottles Market
The pharmaceutical plastic bottle market is fragmented with the presence of many players like Amcor Limited, Aptar Pharma, Berry Plastics Group, Inc., Graham Packaging Company, Alpha Packaging, and Alpack Plastic Packaging. For dominating the market, the players use organic and inorganic strategies, including mergers & acquisitions, partnerships, product launches, and collaborations.
Gerresheimer AG, AptarGroup, Inc., O. Berk Company, LLC, Alpha Packaging Holdings, Inc., Comar, LLC, Bormioli Pharma S.p.a., C.L.Smith Company, United States Plastic Corporation, Weener Plastics Group BV are some of the key players in the pharmaceutical plastic bottles market.
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Recent Developments in the Pharmaceutical Plastic Bottles Market
- It was announced in December 2021 that the Comar Group had acquired Omega Packaging, an injection molding, and blow molding company. Comar’s strategy to provide healthcare customers with end-to-end custom manufacturing solutions and a broad product range is enhanced with Omega Packaging’s child-resistant (CR) closures and precision mold-building capabilities.
- In September 2021, Pretium Packaging, a portfolio company of Clearlake Capital Group, acquired Alpha Packaging from Irving Place Capital for an undisclosed sum. By combining Alpha Packaging and Pretium Packaging, the combined company will be able to provide advanced packaging services to both existing and prospective customers alike.
- It was announced in March 2021 that Gerresheimer AG, a leading manufacturer of pharmaceutical plastic bottles, was building and developing a new manufacturing facility in Ohio, USA. Plastic bottles for solid, liquid, and ophthalmic/nasal formulations will also be produced at this facility.
- In January 2021, ALPLA Werke Alwin Lehner GmbH & Co KG announced it would invest more than five million dollars in an extrusion system to manufacture recycled PET in Italy.
- It was announced in July 2019 that Berry Global had completed its acquisition of RPC Group. This created one of the largest plastic packaging companies in the world with over 290 locations worldwide.
Pharmaceutical Plastic Bottles Market Segmentation by Category
By Bottle Type:
- Plastic Bottles for Solid Formulation
- Plastic Bottles for Liquid
- Plastic Bottles for Ophthalmic/Nasal Formulation
By Material Type:
- Polyethylene (PE)
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- Polyethylene terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
By Capacity:
- Below 100 ml
- 100 ml – 250 ml
- Above 250 ml
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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