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Published by mark itwired
Posted on August 31, 2021
The pharmaceutical plastic bottles market value will total US$ 29.6 Bn in 2021, as per Future Market Insights (FMI). Driven by the expansion of the healthcare industry, the market is forecast to rise at a CAGR of 10.3% over the assessment period 2021-2031. Despite logistical challenges amid restrictions imposed to contain the pandemic in 2020, the market is anticipated to register a 10.0% year-on-year growth in 2021.
The paradigm shift in consumer behavior towards the adoption of sustainable packaging solutions is fueling market growth. Features such as low-weight and cost-effectiveness, are driving sales. Advancements in the healthcare industry has propelled the demand for efficient and economical packaging solutions, creating lucrative opportunities for growth.
The rising scope for applications of corticosteroid drugs in nasal formulations for a large number of treatments are spurring sales prospects. FMI has estimated that plastic bottles for ophthalmic/nasal formulations will account for over 42.7% of pharmaceutical plastic bottles sales in 2021.
Demand continues to grow for polyethylene terephthalate (PET) offerings owing to its high barrier strength and recyclability, thereby stimulating market growth. According to the study, PET is set to expand at a CAGR of 11.3% over the forecast period 2021-2031, surpassing a valuation of US$ 8.3 Bn in 2021.
North America will remain a highly lucrative market. Rising spending on healthcare, will allow the U.S. to dominate the market in North America. It is poised to expand 2.5 times its current market size through 2031, accounting for over 79.3% of the North America market by the end of 2031.
“Emergence of technological advancements including child-resistant closures and counterfeit protection solutions are bolstering the adoption of pharmaceutical plastic bottles especially in developed countries,” said a Future Market Insights analyst.
Key Restraints
Pharmaceutical plastic bottle manufacturers are focusing on undertaking expansions and acquisitions to strengthen their global presence.
Some of the leading players operating in the pharmaceutical plastic bottles market profiled by Future Market Insights are:
For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-7750
FMI, in its new report, offers an unbiased analysis of the global pharmaceutical plastic bottles market, analysing forecast statistics through 2021 and beyond. the survey reveals growth projections on in pharmaceutical plastic bottles market with detailed segmentation:
The post Radio-Frequency Identification (RFID) Integration in Pharmaceutical Plastic Bottles to Drive Growth at 10.3% CAGR through 2031: Future Market Insights first appeared on Market Research Blog.
The pharmaceutical plastic bottles market value will total US$ 29.6 Bn in 2021, as per Future Market Insights (FMI). Driven by the expansion of the healthcare industry, the market is forecast to rise at a CAGR of 10.3% over the assessment period 2021-2031. Despite logistical challenges amid restrictions imposed to contain the pandemic in 2020, the market is anticipated to register a 10.0% year-on-year growth in 2021.
The paradigm shift in consumer behavior towards the adoption of sustainable packaging solutions is fueling market growth. Features such as low-weight and cost-effectiveness, are driving sales. Advancements in the healthcare industry has propelled the demand for efficient and economical packaging solutions, creating lucrative opportunities for growth.
The rising scope for applications of corticosteroid drugs in nasal formulations for a large number of treatments are spurring sales prospects. FMI has estimated that plastic bottles for ophthalmic/nasal formulations will account for over 42.7% of pharmaceutical plastic bottles sales in 2021.
Demand continues to grow for polyethylene terephthalate (PET) offerings owing to its high barrier strength and recyclability, thereby stimulating market growth. According to the study, PET is set to expand at a CAGR of 11.3% over the forecast period 2021-2031, surpassing a valuation of US$ 8.3 Bn in 2021.
North America will remain a highly lucrative market. Rising spending on healthcare, will allow the U.S. to dominate the market in North America. It is poised to expand 2.5 times its current market size through 2031, accounting for over 79.3% of the North America market by the end of 2031.
“Emergence of technological advancements including child-resistant closures and counterfeit protection solutions are bolstering the adoption of pharmaceutical plastic bottles especially in developed countries,” said a Future Market Insights analyst.
Key Restraints
Pharmaceutical plastic bottle manufacturers are focusing on undertaking expansions and acquisitions to strengthen their global presence.
Some of the leading players operating in the pharmaceutical plastic bottles market profiled by Future Market Insights are:
For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-7750
FMI, in its new report, offers an unbiased analysis of the global pharmaceutical plastic bottles market, analysing forecast statistics through 2021 and beyond. the survey reveals growth projections on in pharmaceutical plastic bottles market with detailed segmentation:
The post Radio-Frequency Identification (RFID) Integration in Pharmaceutical Plastic Bottles to Drive Growth at 10.3% CAGR through 2031: Future Market Insights first appeared on Market Research Blog.
