Market Trends of Europe Pharmaceutical Plastic Bottles Industry
The Polyethylene Terephthalate (PET) Segment is Expected to Witness a Significant Growth in the Market
- Polyethylene terephthalate is a transparent, strong, non-toxic, non-cancerous, bio-compatible, and lightweight plastic part of the polyester family. PET is considered a unique plastic used in pharmaceutical plastic bottles. PET protects against CO2, light, and microorganisms. It has been tested and approved by the EU, NSF, and FDA. PET is lightweight, has a very clear appearance, and looks like glass once set. PET is strong, non-reactive, and shatterproof. This makes it easier for pharmaceutical plastic bottles to meet high safety standards.
- Furthermore, the adoption of PET can lead to a reduction in weight as high as 90% compared with glass, which would allow more efficient transport. In the pharmaceutical industry, PET plastic bottles are being used as an alternative to heavy and fragile glass bottles because of their ability to be reused for different liquids.
- In order to help the evolving pharmaceutical sector respond to the impacts of market challenges, ensuring that medicines are protected against all kinds of alteration in properties caused by physical damage, degradation, and biological contamination while, at the same time, benefiting from higher profits, the region's plastic bottles market play a key role.
- According to the GOV.UK, the government of the United Kingdom spent over USD 263.18 billion on health in 2022-2023, compared to USD 215.17 billion in 2017-2018. With more funding allocated to healthcare, there may be an increase in the demand for pharmaceuticals, including medications packaged in PET bottles. As healthcare services expand and improve, there's likely to be a corresponding rise in the need for medicines, contributing to the growth of the pharmaceutical packaging market.
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Germany is Expected to Show Significant Growth
- Due to several developments in Germany by solution providers and various end users, plastic packaging solutions are becoming increasingly popular. Consumer perception of "Made in Germany" goods gave plastic packaging companies better performance space in Germany. The German government has implemented several stringent regulations in the plastics packaging sector.
- The German government's emphasis on packaging design for recyclability and the utilization of renewable and recyclable materials is likely to lead to an increase in the need for sustainable packaging solutions, which, in turn, encourage the pharmaceutical sector in Germany and Europe to search for pharmaceutical plastic bottles that fulfill these sustainability criteria.
- Due to its environmental conditions, Germany is the ideal place for R&D and production of high-quality products. In addition, according to the figures provided by the European Federation of Pharmaceutical Industries and Associations (EFPIA), Germany leads the way in research and development spending in the pharmaceutical sector, spending EUR 8,466 million (USD 9,037 million), ahead of Switzerland, the United Kingdom, and France. Germany's commitment to R&D in the pharmaceutical sector fosters innovation and the development of new drugs and medical products.
- As pharmaceutical companies invest in research, they may require specialized packaging solutions, such as pharmaceutical plastic bottles, to store and transport their products. This creates a demand for high-quality packaging materials in the market.
- The German packaging industry accounted for about USD 27.08 billion in revenue in 2016. In 2023, it amounted to USD 32.17 billion. A growing packaging industry often means increased investments in research and development. This can lead to innovations in packaging materials, including pharmaceutical plastic bottles. For instance, the development of advanced and environmentally friendly plastic bottle materials is expected to occur, meeting the sustainability demands of the pharmaceutical industry.
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