The global pharmaceutical bottles market is expected to grow at a compound annual growth rate of 4.58% to reach a market size of US$24.581 billion by 2024 from US$18.784 billion in 2018. Pharmaceutical bottles are used by pharmaceutical companies for storage of medical or healthcare products. The rising number of health issues and consumption of medicines are the prime factors expected to drive the market for pharmaceutical bottles. The growing preference amongst the population for safe and convenient packaging of medicines is anticipated to fuel the market growth in the near future. Moreover, growing health consciousness along with increasing routine health check-ups are predicted to further augment the market growth.
Although, technological advancements like the introduction of eco-friendly materials such as glass and sugarcane are anticipated to widen up the growth opportunities for the pharmaceutical bottles market, the strict government regulations regarding the use of plastics are expected to hamper the pharmaceutical bottles market growth to some extent.
The pharmaceutical bottles market has been segmented on the basis of bottle type, application, material, color, end user and geography. In the material segment, HDPE and LDPE are expected to hold a significant market share owing to the wide usage of these materials in medicinal bottles. Geographically, North America is projected to hold a substantial share in the market on account of the presence of major players in the region. The Asia Pacific is also anticipated to grow at a significant rate during the forecast period owing to the augmenting pharmaceutical industry in the region.
Bolstering pharmaceutical industry.
Growing health consciousness among the general population.
Environment concerns due to difficult recycling.
In May 2018, Gerresheimer AG expanded its presence South America with a new production facility in the Brazilian state of Goias.
In November 2017, Comar LLC acquired Shore Plastics Technologies Inc.
The major players profiled in the Pharmaceutical Bottles market include Aptar Group Inc., Amcor Ltd., Berry Plastic Group Inc., Comar LLC, Gerresheimer AG, O Berk Company LLC, Tim Plastics Inc., Drug Plastic Group, Pretium Packaging Corporation, and Alpha Packaging.
The pharmaceutical bottles market has been analyzed through the following segments:
By Bottle Type
Boston Round Bottles
By End User
Heath care centers
Middle East and Africa