Europe Pharmaceutical Packaging Market - Focused
Insights 20232028
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.
To know more: https://www.focusreports.store/report/europe-pharmaceuticalpackaging-market-insights
Market Growth
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.
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.