Europe Pharmaceutical Packaging Market - Focused Insights 2023-2028

EUROPE PHARMACEUTICAL PACKAGING MARKET OVERVIEW

The Europe pharmaceutical packaging market was valued at USD 25.58 billion in 2022 and is projected to reach USD 33.97 billion by 2028, growing at a CAGR of 4.84% during the forecast period. Europe is one of the leading and growing pharmaceutical packaging markets worldwide. The European market is witnessing significant growth due to the global economic upswing, the presence of leading pharmaceutical players, and high investments in drug development processes. 

MARKET DEFINITION  

Pharmaceutical packaging is the packaging process for pharmaceutical preparations, and it is an integral part of the pharmaceutical product. Packaging often involves dosing, dispensing, and using the pharmaceutical product. Packaging plays a significant role in keeping the drug safe, and one of the important aspects is that the material used for the packaging of the drugs should remain safe as it should not react with the drug packaged. 

MARKET TRENDS & OPPORTUNITIES 

Growing Demand for Pharmaceuticals: Growing healthcare demand and new technologies are transforming the pharmaceutical industry. As the elderly population grows, it will double to more than 1.5 billion people in 2050. As a result, chronic conditions are on the rise, and patients are often suffering from more than just one ailment, which, in turn, increases the demand for pharmaceuticals. This increases the demand for pharmaceuticals, thus driving the pharmaceutical packaging market. 

Rising Demand for Flexible Packaging: The demand for product protection, easy shipping, growing initiatives by the states to reduce packaging waste, and increasing concern for contamination during primary packaging are driving the demand for flexible packaging. In 2021, Amcor, a leading company in pharmaceutical packaging, witnessed an increase of 52.9% in flexible packaging from 2019. 

EUROPE PHARMACEUTICAL PACKAGING MARKET INSIGHTS 

Primary packaging accounted for the highest share of the European pharmaceutical packaging market, attributable to the growing demand for blister packs, bottles, vials, ampoules, pouches, sachets, and bags with the increasing demand for pharmaceuticals. ​ 

The strips & blister segment accounted for over 33% of the European pharmaceutical packaging market under the primary packaging type. It dominated the other segments due to its wide usage as an essential primary packaging element for pharmaceutical products. 

The glass packaging material segment is growing significantly in the European market, with the highest CAGR of 5.00% during the forecast period. Borosilicate glass has been the primary packaging material for parenteral products due to its excellent chemical resistance, barrier properties, regulatory acceptance, and a broad range of applications. Glass packaging is increasing in demand owing to easy sterilization and high visibility. 

The pharmaceutical companies segment is projected to be the fastest-growing end-user segment in the Europe pharmaceutical packaging market during the forecast period. The growing focus of pharmaceutical companies on precision medicines and 3D-printed drugs is generating lucrative opportunities for pharmaceutical packaging manufacturers to develop innovative and advanced packaging.  

REGIONAL ANALYSIS 

Germany accounted for a significant revenue share of over 20% of Europe's pharmaceutical packaging market. The Germany market is witnessing significant growth due to the rise in sales of prescription and non-prescription drugs, the presence of leading pharmaceutical companies, and high investments in drug development. 

VENDOR LANDSCAPE  

The Europe pharmaceutical packaging market report contains exclusive data on 29 vendors. Amcor, Aptar Group, Berry Global, Laser Gerresheimer, and WestRock are the leading players in the Europe pharmaceutical packaging market. The market offers tremendous growth opportunities for existing and future/emerging players because of innovations in oncology, autoimmune and diabetes treatment, chronic ailments, and rare diseases.