In its new “Pharmaceutical Bottles—Global Market Outlook (2017-2023),” Stratistics Market Research Consulting is bullish on the future of bottles. Behind the optimism, says the report, are the following factors: “Availability of more number of cheaper polymers, increasing demand for pharmaceutical bottles in oral care, [and the] use of pharmaceutical bottles, which are manufactured with plastic.
“Polyethylene terephthalate (PET) is widely used because of its fixed atmosphere barrier properties and stress-resisting characteristics which is leading the market,” the report notes. “Due to the flexibility of pharmaceutical bottles which handle semi-solid contents and lotions comfortably [the] topical medication segment has acquired [the] highest growth rate. Europe has acquired the highest market share and the growth is owed to the improvements made in drug delivery formats.”
Factors restricting market growth, according to the report, are consumers’ varying preferences toward flexible packaging such as blisters, and rising demand for eco-friendly biomaterials-based bottles.
The report forecasts the global pharmaceutical bottle market to rise from $441.19 billion in 2016 to reach $662.59 billion by 2023, with a Compound Annual Growth Rate of 5.9%.
The report covers dropper, liquid, packer, and other bottle types, for oral care, liquid, droppers and topical medication applications. Stratistics’ report includes polypropylene (PP), polyvinyl chloride (PVC), low- and high-density polyethylene (LDPE and HDPE), as well as polyethylene terephthalate (PET) resins.End-user companies using plastic bottles include chemical and pharmaceutic companies, healthcare centers, compounding pharmacies and pharmaceutical packaging companies.