April 20, 2024
Prescription Bottles Market

Prescription Bottles Market is Expected to be Flourished by Rising Demand for Sustainable and Customized Packaging Solutions

Prescription bottles, also called prescription vials, are an integral part of pharmaceutical drug delivery. These bottles are used to package and dispense prescription oral solids such as tablets and capsules. Prescription bottles offer ease of use, product protection, tamper evidence, and child resistance. Common materials used for prescription bottles include plastics such as HDPE, LDPE, PET, and glass. The global prescription bottles market has witnessed considerable growth over the past few years, driven by the booming pharmaceutical industry. Moreover, rising adoption of prescription drugs for the treatment of chronic diseases is creating high demand for prescription bottles.

The global prescription bottles Market is estimated to be valued at US$ 4.56 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Rising Demand for Sustainable and Customized Packaging Solutions: The prescription bottles market is expected to be flourished by the rising demand for sustainable and customized packaging solutions from pharmaceutical companies. There is growing consumer awareness regarding the environmental impact of plastic packaging, which is fueling the demand for eco-friendly bottles made from recycled plastics. Moreover, pharmaceutical manufacturers are focusing on customized prescription bottles with branding, serialization, automated identification technologies to enhance patient engagement and compliance. These factors are creating lucrative growth opportunities for prescription bottles manufacturers.

Rising Prevalence of Chronic Diseases: Another major driver supplementing the growth of prescription bottles market is the rising global prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases and respiratory diseases. As per WHO estimates, chronic diseases accounted for over 70% of all deaths globally in 2019. The high and increasing consumption of prescription medication for the treatment of chronic diseases is positively impacting the sale of prescription bottles.

Segment Analysis
The prescription bottles market is segmented into plastic, glass and others. Among these, the plastic segment accounts for more than 60% of the market share and is dominating the prescription bottles market. Plastic bottles are preferred over glass bottles as plastic bottles are lightweight and durable as compared to glass bottles. This reduces the overall transportation and logistics cost for the manufacturers and distributors.

PEST Analysis
Political: There are strict regulations regarding the packaging of medication by regulatory bodies like FDA in various countries. This ensures patient safety and restricts the usage of harmful materials for packaging.
Economic: The prescription bottles market is dependent on the growth of the pharmaceutical industry. As the healthcare expenditure is increasing globally, the demand for prescription medication is rising which is fueling the growth of this market.
Social: With growing health awareness and increasing income levels, people are more inclined towards seeking medical help and easy accessibility to medicines. This is driving the adoption of prescription bottles for convenient dispensing of drugs.
Technological: Prescription bottles manufacturers are focusing on development of bottles integrated with advanced features like child-resistant closures, desiccants, and tamper-evident seals to enhance safety and efficacy of packaged drugs.

Key Takeaways
The Global Prescription Bottles Market Size is expected to witness high growth over the forecast period between 2023 and 2030.

Regional analysis: North America currently holds the largest share in the prescription bottles market owing to presence of developed healthcare infrastructure and increasing healthcare spending in countries like US and Canada. The Asia Pacific region is projected to be the fastest growing market on account of rising healthcare expenditure and increasing patient pool in emerging economies like India and China.

Key players operating in the prescription bottles market are IMS Limited, Origin Pharma Packaging, Zhuhai Sundara Pharmaceutical Packaging Co., Ltd., Gerresheimer AG, Alpha Packaging, Andler Packaging Group, Pretium Packaging, Amerilab Technologies Inc., Bormioli Pharma S.r.l., and Amcor plc. Key players are focusing on new product launches and strategic partnerships for expanding their presence and capturing a larger market share. For instance, In May 2022, Amcor launched new range of amber prescription packaging solutions to aid medicine protection and patient compliance.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it