Global Pharmaceutical Plastic Bottles Market – Growth, Trends, Impact of COVID-19 and Forecast (2022)

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Pharmaceutical Plastic Bottle Market was valued at USD 8.08 Billion in 2021. It is projected to reach USD 10.39 Billion by 2027, registering a CAGR of 4.11% during 2022-2027. Growing demand from the pharmaceutical packaging industry for drug storage and delivery will drive the market over the forecast period.

New York, Feb. 18. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Pharmaceutical Plastic Bottle Market – Growth, Trends, Impact of COVID-19 and Forecast (2022 – 2027)” – https://www.reportlinker.com/p06231642/?utm_source=GNW

Highlights
The demand for plastic packaging has witnessed significant growth in the pharmaceutical industry due to its unparalleled capacity. Additional features that have led to increased adoption in the pharmaceutical sector are moisture barrier, high dimensional stability, high impact resistance, resistance to deformation, low water absorption, transparency, resistance to heat and flames and the extension of expiry dates.
The market for pharmaceutical plastic bottles is growing owing to the growing concern for sustainability by increasing the recycling rate and minimizing the environmental impact in the pharmaceutical industry. Technological advancements and the increasing use of plastic bottles in solid and even liquid oral medications have contributed to the growth of the pharmaceutical plastic bottle market.
Plastic bottles are increasingly used for aseptic filling and packaging in industry. “Market vendors provide aseptic bottle filling and packaging services in various regions. For example, the LSNE offers aseptic filling services for dropper bottles. The company has an automated filling line capable of filling standard multi-dose three-piece vials into 5ml and 10ml vials and sterile multi-dose vials.
Asia-Pacific has a strong base for the production of PET resin and polymers, which also contributes to the growth of the market without the problem of shortage of raw materials. According to the Japanese Ministry of Economy, Trade and Industry (METI), the production volume of PET in Japan was 531,070 tons in 2019. Moreover, China is one of the largest producing countries and consumers of PET bottles.
With the demand for medicines and other essential goods growing at an all-time high, the lack of available packaging to pack and ship them has caused a significant disruption to supply chains.?? However, demand has increased for some drugs used in patients with COVID-19. These included certain anaesthetics, antibiotics, muscle relaxants and certain drugs used off-label. This has led to the supply of plastic bottles in pharmaceutical companies.

Main market trends

HDPE Segment to Show Highest Growth Rate

HDPE is used to make various types of bottles, and among these, unpigmented bottles are translucent, with excellent stiffness and barrier properties. The material has a pigmented variety, which can pack light-sensitive drugs in the pharmaceutical industry. These materials are suitable for packaging products with a short shelf life. According to Plastics Europe, an association of European plastic manufacturers reports published in December 2020, the annual demand for HDPE in Europe was around 6.5 million tonnes in 2019.
HDPE also has excellent chemical resistance, making it a valuable material for packaging various chemicals and drugs. Pigmented HDPE bottles have been found to have improved stress crack resistance compared to unpigmented HDPE material. The blow molding application of HDPE makes it more durable and versatile than PP and LDPE materials. It also has excellent resistance to most solvents and high tensile strength compared to other forms of polyethylene materials.
HDPE is also mainly used for larger containers in the commercial sector because it has a high strength to weight ratio in common polymers and is less brittle than PP. It retains a lightweight nature in the molding, which makes it suitable for larger containers, such as plastic canisters.
Additionally, various research and development activities have been carried out by various market players. For example, in April 2021, Advil maker GSK Consumer Healthcare (GSK) announced its commitment to reduce plastic by 20% in more than 80 million bottles of Advil, resulting in a reduction of almost 500,000 plastic pounds in the environment. By 2022, Advil will have reduced plastic in almost all bottles available in-store and online, except for the brand’s Easy Open bottles. New barrier resin technology reduces the amount of resin needed to mold and manufacture high density polyethylene (HDPE) bottles while maintaining barrier protection properties.

North America accounts for a significant market share

The plastic bottle market in the United States is expected to grow at a steady pace, driven by the ever-increasing consumption and industrial applications of plastic containers and bottles. According to the Plastics Industry Association (PLASTICS), market demand for plastic bottles continues to grow in the United States. Plastic projects are expected to increase in several products and sectors, including the beverage, food and water, pharmaceutical and household sectors.
According to the American Chemistry Council, the production capacity of polyethylene, the plastic resin most influenced by the abundance and low cost of shale gas, is expected to increase by more than 50% by 2020. The price of gas from shale the current market weather, which is turbulent due to the COVID-19 pandemic. Polyvinyl chloride and polypropylene resins should also benefit from abundant and affordable shale gas. Many commodity companies use full-body shrink-sleeve labels on plastic bottles to improve shelf appeal.
According to Pharmaceutical Commerce, in the United States, the pharmaceutical market is booming. By 2023, Americans are expected to spend between $635 billion and $655 billion on pharmaceuticals. Compared to 2019, this indicates a solid increase in spending from 29.6 to 33.7% in 2020. As a result, it will almost certainly be the country with the highest pharmaceutical spending.
With total sales of plastic resin and products estimated at CAD 35 billion (plastic resin – CAD 10 billion and plastic products CAD 25 billion), this sector accounts for more than 5% of Canadian manufacturing sales, according to Environment and Climate Change Report Canada 2019.
The resins and plastic products sector employs 93,000 people in 1,932 establishments. With use in nearly every modern product, in Canada, plastic products are in demand across most sectors of the economy, with three categories of packaging, construction and automotive showing an appetite for plastic and accounting for 69% of plastic end use.

Competitive landscape

The market is concentrated with the presence of players like Amcor Limited. Berry Plastics Group, Inc., Aptar Pharma, Gerresheimer AG, Graham Packaging Company, Alpha Packaging and Alpack Plastic Packaging, among others.

December 2021 – Comar announced the acquisition of Omega Packaging, a manufacturer of injection and blow molded products. Omega Packaging’s line of child-resistant (CR) caps and precision mold building capabilities advance Comar’s strategy to serve healthcare customers with end-to-end custom manufacturing capabilities. end-to-end and an expanded product portfolio.
September 2021 – Pretium Packaging, a portfolio company of Clearlake Capital Group, has agreed to acquire US-based Alpha Packaging from Irving Place Capital for an undisclosed amount. Alpha Packaging and Pretium Packaging will enable the combined entity to offer a wide range of advanced packaging solutions to existing and new corporate customers.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06231642/?utm_source=GNW

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