The Prescription Bottles market is estimated to be valued at US$ 4.56 Bn in 2022 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Prescription bottles are a type of plastic or glass container used for dispensing prescription medications. They are specifically designed to prevent leakage and moisture from entering the bottle to protect medications. The bottles come in various sizes and shapes depending on the medication type and dosages. Specially designed child-resistant caps are often used to prevent accidental poisoning. Prescription bottles play a vital role in the pharmaceutical industry and healthcare sector by safely packaging and dispensing medicinal drugs to patients.
Market Dynamics:
The Prescription Bottles market is primarily driven by increased prescription drug sales and rising prevalence of chronic diseases globally. The number of prescriptions filled in the US increased from 4.02 billion in 2012 to 4.46 billion in 2020 according to a National Community Pharmacists Association report. This has augmented the demand for prescription bottles from pharmaceutical companies. Furthermore, growing awareness about preventive healthcare and expanding healthcare facilities and coverage in developing nations has fueled the market growth. The rising geriatric population that requires ongoing medicinal treatments also supplements the Prescription Bottles Market growth. However, increasing adoption of digital prescriptions and initiatives to curb excessive medications may negatively impact the market expansion over the forecast period.
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