A Future Market Insights (FMI) survey offers comprehensive analysis on pharmaceutical plastic bottles demand outlook. Increasing investment in healthcare sector will enable the market to register spurring sales. Trend will continue as leading market players focus on product launches as key strategy to gain competitive strength.
Future Market Insights (FMI): The global pharmaceutical plastic bottles market is projected to grow at 10.3% CAGR between 2021 and 2031.Driven by growth of healthcare sector across globe, the market has been forecast to register 10% year on year growth, reaching a valuation of US$ 29.6 Bn in 2021.
The aforementioned statistics is indicative of impressive surge in demand in comparison to sales growth registered at 4.7% CAGR between 2013 and 2020.
Pharmaceutical plastic bottles are widely used in healthcare industry for packaging solid and liquid formulations. Rising use of plastic bottles over glass bottles, will give tailwinds to sails in the healthcare sector. Against this backdrop, expansion of healthcare and pharmaceutical industries will continue creating conducive environment for the market’s growth.
According to the Centers for Disease Control and Prevention (CDC), in 2018, per capita national healthcare expenditure in the U.S. stood at US$ 11,172. With considerable rise of healthcare spending on card, the U.S. will emerge as a highly lucrative market for sales of pharmaceutical plastic bottles.
As per FMI, sales in the U.S. will account for 79.3% of overall sales registered in North America by 2031.
As per the India Brand Equity Foundation (IBEF), India healthcare market is anticipated to surpass valuation of US$ 372 billion by 2022. Government initiatives undertaken to provide good quality and affordable healthcare facilities across India will remain a chief growth driver. This will supplement expansion of pharmaceutical plastic bottles sales in India in coming years.
“Use of anti-counterfeit technologies such as barcodes, labels, tags, and more to minimize counterfeiting is increasing in pharmaceutical industry. Besides this, radio-frequency identification (RFID) and quick response code (QR) codes are used to keep tract of inventory. These innovations are bolstering market growth,” said a Future Market Insights (FMI) analyst.
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Key players are focusing on expansion and strategic partnerships with other manufacturers to increase their market revenue. For instance,
Key players operating in the market include
More Insights on the Global Sales Outlook of Pharmaceutical Plastic Bottles Market
Future Market Insights, in its new offering, provides an unbiased analysis of the pharmaceutical plastic bottles sales, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on pharmaceutical plastic bottles demand with a detailed segmentation on the basis of:
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