by The global Prescription Bottles Market is estimated to be valued at US$ 4.56 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Prescription bottles are containers used for packaging pharmaceutical drugs and supplements to be taken orally. They are required to meet stringent safety and compliance standards set by regulatory authorities. Prescription bottles are available in various types such as plastic bottles and glass bottles. Plastic prescription bottles are lightweight, economical and unbreakable. They provide better protection from moisture, air and other contaminants. Glass prescription bottles are durable and allow viewing of contents.
Market key trends:
One of the key trends in the prescription bottles market is rising focus on anti-counterfeiting and child-resistant packaging. To curb counterfeiting and ensure safety, manufacturers are offering bottles integrated with advanced traceability and tamper evidence features. There is also an increasing demand for easy-open/close and senior-friendly packaging solutions. The growing penetration of e-pharmacies and online drug delivery is prompting companies to invest in innovative packaging formats for convenient home delivery and storage. Growing geriatric population prone to multiple prescriptions on a daily basis is also driving the demand for compliant and user-friendly packaging.
Porter’s Analysis
Threat of new entrants: Low barriers to entry and high production costs make threat of new entrants low in the prescription bottles market.
Bargaining power of buyers: Large buyers have significant bargaining power due to their purchasing capacity in the market.
Bargaining power of suppliers: Few players dominate supply making suppliers possess high bargaining power.
Threat of new substitutes: Low as prescription bottles have certain specifications and substitutes lack capabilities to replace their functionality.
Competitive rivalry: Intense rivalry exists between fragmented players to drive innovation and gain market share.
Key Takeaways
The global Prescription Bottles Market Share is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of chronic diseases.
The global Prescription Bottles market size was valued at US$ 4.56 Bn in 2023 and is expected to reach ~US$ 8.54 Bn by 2030.North America is expected to dominate the prescription bottles market over the forecast period owing to increasing healthcare expenditure and rising geriatric population in the region.
Key players operating in the prescription bottles market are AptarGroup, Weener Plastics Group, Bormioli Rocco Pharma, Pacific Packaging Components, PCC Exol, SHL Group, O.Berk Company, Winfield Laboratories, O.Berk, Comar, RPC Group, Alpha Packaging, Pretium Packaging, Silgan Holdings, Origin Pharma Packaging, Vidchem pty ltd, Mold-Rite Plastics, Berry Global, Amcor, Gerresheimer.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
