Prescription bottles are high quality containers that are used to hold medication which gets dispensed by healthcare professionals to patients. Prescription bottles provide a secure, tamper-proof packaging solution to transport prescribed drugs from pharmacies to patients in a safe manner. They feature child-proof caps, clear labels with dosage instructions, and other features required to store drugs safely and effectively.
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 key trends:
One of the key trends driving the growth of the prescription bottles market is the rising healthcare needs globally. With growing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer, the demand for prescription drugs has increased significantly. According to the World Health Organization (WHO), chronic diseases accounted for approximately 60% of total reported deaths in the world in 2001. This increasing disease burden has enhanced the demand for secure, compliant, and portable drug packaging solutions such as prescription bottles. Prescription bottles ensure correct consumption of prescription drugs as per the prescribed dosage and duration. Thus, the growth in chronic diseases and demand for prescription drugs have boosted the prescription bottles market over the past few years.
Segment Analysis
The global prescription bottles market is dominated by the plastic prescription bottles segment. Plastic prescription bottles are lightweight, cost-effective, and durable compared to glass bottles. They incur lower breakage costs for pharmaceutical manufacturers and distributors. Their resistance to breakage makes plastic prescription bottles safer during transportation and handling. These advantages have made plastic prescription bottles the preferred choice among drug manufacturers and retailers.
Key Takeaways
The Global Prescription Bottles Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is driven by the expanding pharmaceutical industry, growing elderly population requiring regular medication, and the increasing sales of OTC drugs.
Regional analysis: North America currently dominates the global prescription bottles market owing to the well-established pharmaceutical industry and rising healthcare expenditure in the region. The United States holds the largest share in the North America prescription bottles market. Asia Pacific is expected to be the fastest-growing regional market during the forecast period due to the improving healthcare infrastructure and growing pharmaceutical sales in developing countries such as India and China.
Key players: Key players operating in the prescription bottles market are I
Ambpac Medical Company, Aphena Pharma Solutions, Berry Global, CS Precision Plastics, Gerresheimer AG, Kaufman Container, Lonava Inc., West Pharmaceutical Services, Inc., Berning Kimya San, Adelphi Healthcare Packaging, and Dallas Packaging Ltd.
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