Europe Pharmaceutical Packaging & Labeling Market - Focused Insights 2023-2028

EUROPE PHARMACEUTICAL PACKAGING AND LABELING MARKET OVERVIEW

Europe Pharmaceutical Packaging and Labeling market is showing significant growth, valued at USD 27.04 billion in 2022, and is expected to reach USD 35.78 billion by 2028, growing at a CAGR of 4.78% from 2022 to 2028. Europe's Pharmaceutical Packaging and Labeling market is showing significant growth; the key factors and trends driving this growth include:

Market Dominance: Europe held a commanding 27% of the global market share in 2022, establishing itself as a key player in the pharmaceutical packaging and labeling industry.

Driving Forces:

• Rising Demand: Increased consumption of prescription drugs due to a growing geriatric population and rising healthcare needs.
• Innovation: Advances in the design and printing of labels, spurred by high R&D investments.
• Supportive Environment: Presence of major vendors and encouraging government initiatives.
• Sustainability Movement: A noticeable shift towards sustainability has occurred, with pharma companies adopting recyclable materials and biodegradable plastics. The realization of environmental impact has led to the exploration of 100% organic or recycled plastic materials.
• Technological Innovations:
• Nanotechnology: Research in nanomaterials has offered greater functionality in packaging, including anti-counterfeiting measures.
• Digitalization: The requirement for serialization, such as bar codes and holograms, addresses regulatory needs to fight against counterfeiting. Westrock's development of the CerePack illustrates this trend.

Competitive Landscape:

• Market Competition: The market is characterized by intense competition, with various small and mid-sized companies entering the space.
• Key Players: Dominant players include Amcor, Aptar Group, Berry Global, Gerresheimer, and WestRock Pharmaceuticals.
• Strategic Alliances: Major players are engaging in acquisitions, licensing, and collaborations to access new technologies, such as the partnership between Berry Global and Pylote for a unique ophthalmic dropper.
• Future Prospects: The growing need to protect medicinal products and the emphasis on integrity maintenance present promising opportunities for the market in the forecast period.

Robust growth, innovative technologies, a focus on sustainability, and fierce competition characterize Europe's pharmaceutical packaging and labeling market. These factors, combined with supportive regulations and the strategic moves of key players, are shaping a dynamic and lucrative market landscape. The continued focus on protecting medicinal products and advancements in sustainable and technological fronts augments the market's future development well.

EUROPE PHARMACEUTICAL PACKAGING AND LABELING MARKET INSIGHTS:

• Under the packaging segmentation, the primary packaging segment accounted for the highest share of 70.40% in 2022 and is projected to grow at the highest CAGR of 5.01% during the forecast period, which can be attributed to the growing demand for blister packs, bottles, vials, ampoules, sachet, pouches, and bags with the growing demand for pharmaceuticals in Europe.
• Based on material segmentation, the paper segment accounted for the highest share, which can be attributed to the growing demand for recyclable material for pharmaceutical packaging.
• Based on end-user segmentation, the pharmaceutical companies segment accounted for the highest share, which can be attributable to the presence of large pharmaceutical companies growing demand for branded drugs, OTC medicines, and specialty medicine.
• 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.