Steadily escalating preference for plastic bottles over conventional glass bottles by pharmaceutical manufacturers is primarily driving the revenue growth of pharmaceutical plastic bottles landscape. Relatively easy and more economical procurement of pharmaceutical plastic bottles continues to fuel their adoption by pharma industry players worldwide.
In a new study, Future Market Insights projects a promising growth outlook for the global pharmaceutical plastic bottles landscape. A senior market research analyst at FMI says, “Witnessing over 5.5% annual revenue growth over 2018, the global pharmaceutical plastic bottles market is likely to cross the value of US$ 25 Bn in 2019”. “While the most sought after plastic forms include PET, LDPE and HDPE, PP, and PVC, the key factor driving adoption of pharmaceutical plastic bottles is the unbreakable and lightweight packaging solution they offer,” the analyst says further.
According to the report, pharmaceutical plastic bottles effectively render a cost saving advantage to each value chain participants, including manufacturers, suppliers, distributors, wholesalers, and end users – creating a favourable market growth scenario across the value chain. Design innovations such as 3D technology, extrusion blow moulding, and injection blow moulding further allow extended applicability and thereby push the growth of pharmaceutical plastic bottles market.
The plastic bottle type-wise analysis of pharmaceutical plastic bottles landscape reveals that packer and dropper bottles are among the most commonly used. Whereas, oval, oblong, and square pharmaceutical plastic bottles are witnessing high traction among manufacturers of oral drugs, nutritional or dietary supplements, and herbal medicines. The report also indicates growing adoption rate of dispensing bottles among manufacturers of low-viscosity topical/oral medication, liquid, and sprays.
In order to ensure security and safety, in addition to prevent potential leakage, it is a mandate by the US FDA that OTC drugs should have tamper resistant packages. Tamper evident systems prevent shrink wrapping on filling lines, at reduced overall costs. This and more such regulatory guidelines continue to influence the growth of pharmaceutical plastic bottles market worldwide. Moreover, elevating demand for OTC drugs is also pushing the innovation and sales of moisture-proof, deoxidizing pharmaceutical plastic bottles that have moisture-proof closures. Innovations continue to be underway for an excellent sealing performance.
North America currently accounts for around 1/3rd of the global pharmaceutical packaging industry. The popularity of advanced therapeutic treatments is consistently rising in the region, pushing the demand for specialized packaging products. While pharmaceutical plastic bottles provide a high quality, economical, safe and secure solution to pharmaceutical packaging companies, it is more likely that innovative pharma plastic bottles will gain robust momentum across North America in coming years. FMI identifies lucrative opportunities in specialized drug classes, and temperature-sensitive generics and innovative drugs.
“The surging pace of plastic recycling is paving the way towards sustainability. Plastics that are used in manufacturing of pharma plastic bottles are recycled to abide by the related regulatory norms,” explains the FMI analyst. Adding further, “Pharmaceutical plastic bottles manufacturers are prominently favouring sales of plastic materials such as PET and HDPE, as these forms highly recyclable,” says the analyst.
The global pharmaceutical plastic bottles landscape is driven by high competition intensity, and currently, the marketplace is witnessing emergence of several SMEs in countries that hold high growth potential for pharma related markets such as China and India. However, leading players in the pharmaceutical plastic bottles market continue to prominently support the growth of North America’s market.
Packaging manufacturers based and operating in the US are focusing on providing advanced technology pharma packaging solutions such as multi-extruded pharma plastic bottles that are usually adopted for special bioengineering drugs. The report on global pharmaceutical plastic bottles market thoroughly profiles key market players, emphasizing key developmental strategies of market leaders such as Gerresheimer AG, Amcor Limited, Berry Global Group, Inc., and ALPLA Werke Alwin Lehner GmbH & Co KG.
These insights are based on a report on Pharmaceutical Plastic Bottles Market by Future Market Insights.
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