DUBAI, UAE, July 27, 2021 /PRNewswire/ -- The global pharmaceutical plastic bottles market is projected to grow at 10.3% CAGR between 2021 and 2031.Driven by growth of healthcare sector across globe, the market has been forecast to register 10% year on year growth, reaching a valuation of US$ 29.6 Bn in 2021.
The aforementioned statistics is indicative of impressive surge in demand in comparison to sales growth registered at 4.7% CAGR between 2013 and 2020.
Pharmaceutical plastic bottles are widely used in healthcare industry for packaging solid and liquid formulations. Rising use of plastic bottles over glass bottles, will give tailwinds to sails in the healthcare sector. Against this backdrop, expansion of healthcare and pharmaceutical industries will continue creating conducive environment for the market's growth.
According to the Centers for Disease Control and Prevention (CDC), in 2018, per capita national healthcare expenditure in the U.S. stood at US$ 11,172. With considerable rise of healthcare spending on card, the U.S. will emerge as a highly lucrative market for sales of pharmaceutical plastic bottles.
As per FMI, sales in the U.S. will account for 79.3% of overall sales registered in North America by 2031.
As per the India Brand Equity Foundation (IBEF), India healthcare market is anticipated to surpass valuation of US$ 372 billion by 2022. Government initiatives undertaken to provide good quality and affordable healthcare facilities across India will remain a chief growth driver. This will supplement expansion of pharmaceutical plastic bottles sales in India in coming years.
"Use of anti-counterfeit technologies such as barcodes, labels, tags, and more to minimize counterfeiting is increasing in pharmaceutical industry. Besides this, radio-frequency identification (RFID) and quick response code (QR) codes are used to keep tract of inventory. These innovations are bolstering market growth," said a Future Market Insights (FMI) analyst.
For more Insights into the Market, Request a Sample of this Report https://www.futuremarketinsights.com/reports/sample/rep-gb-7750
Key Takeaways from Pharmaceutical Plastic Bottles Market Research Report
- The U.S. is expected to account for over 79.3% of total North America market and it is anticipated to grow 2.5X of its current market size by 2031.
- The demand for pharmaceutical plastic bottles in the U.K. is expected to increase at 8% CAGR over the forecast period.
- The market in China is estimated to account for over 59% of total demand in East Asia and it is projected to grow at 11.4% CAGR over the forecast period.
- Sales in India are projected to total US$ 1.9 Bn by 2021 steered by surging pharmaceutical production.
- Based on bottle type, plastic bottles for ophthalmic/nasal formulations have emerged dominant and are expected to account for over 42.7% of sales in 2021.
- Polyethylene terephthalate (PET) will remain more preferred material for pharmaceutical plastic bottle production, surpassing a valuation of US$ 8.3 Bn in 2021.
- Rising cases of chronic diseases with growing overall population will drive market growth.
- Rising medical care awareness, expansion of pharmaceutical industry and rising healthcare spending are increasing demand for pharmaceutical plastic bottles.
- Rise in applications of corticosteroid drugs in nasal formulations for a variety of treatments is boosting market.
- Increasing use of post-industrial and post-consumer recycled plastic as raw material will bolster market growth.
- Stringent regulations implemented on use of plastics in some regions are restraining market growth.
Get Access to Research Methodology Prepared by Experts>>> https://www.futuremarketinsights.com/ask-question/rep-gb-7750
Key players are focusing on expansion and strategic partnerships with other manufacturers to increase their market revenue. For instance,
- In March 2021, Gerresheimer AG a leading manufacturer in the pharmaceutical plastic bottles market initiated construction and development of its new manufacturing facility in Ohio, U.S. The facility will also be equipped to produce plastic bottles for solid, liquid, and ophthalmic/nasal formulations.
- In January 2021, ALPLA Werke Alwin Lehner GmbH & Co KG, a global manufacturer of plastic packaging announced an investment of more than five-million dollars in an extrusion system for manufacture of recycled PET in Italy.
Key players operating in the market include
- 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 Plastic Corporation
- Weener Plastics Group BV
- Origin Pharma Packaging
- Pretium Packaging Corporation
- Pro-Pac Packaging Group Pty Ltd
More Insights on the Global Sales Outlook of Pharmaceutical Plastic Bottles Market
Future Market Insights, in its new offering, provides an unbiased analysis of the pharmaceutical plastic bottles sales, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on pharmaceutical plastic bottles demand with a detailed segmentation on the basis of:
- Plastic Bottles for Solid Formulation
- Plastic Bottles for Liquid
- Plastic Bottles for Ophthalmic/Nasal Formulation
- Polyethylene (PE)
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- Polyethylene terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl chloride (PVC)
- Below 100 ml
- 100 ml – 250 ml
- Above 250 ml
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-7750
Key Questions Covered in the Report
- The report offers insight into pharmaceutical plastic bottles demand outlook for 2021-2031
- The market study also highlights projected sales growth for pharmaceutical plastic bottles market between 2021 and 2031
- Pharmaceutical plastic bottles sales survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Pharmaceutical plastic bottles market share analysis of the key companies within the industry and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others
Explore FMI's Extensive Coverage on the Packaging Domain
Blow Molded Plastic Bottles Market: Future Market Insights (FMI) provides a deeper insights on the new trends of global Blow Molded Plastic Bottles Market while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2017 to 2027. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade.
Aerosol Sprayers Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides incisive coverage on the global aerosol sprayers market over the forecast period of 2021 and 2031. Additionally, to find the effect of COVID-19 on the aerosol sprayers market in general, the study monitor global aerosol sprayers' sales in 20+ high-growth markets and addresses their end-user in particular.
Aerosol dispensing systems Market: ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors of global aerosol dispensing systems market. The study offers detailed study on key trends that influence the demand for aerosol dispensing systems. The report covers global demand in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global shell and heat exchangers market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: [email protected]
For Media Enquiries: [email protected]
Website: Future Market Insights
Press Release Source: https://www.futuremarketinsights.com/press-release/pharmaceutical-plastic-bottles-market
SOURCE Future Market Insights