DUBLIN–(BUSINESS WIRE)–The “Europe Pharmaceutical Packaging Market – Growth, Trends and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Europe Pharmaceutical Packaging Market is estimated to grow at a CAGR of about 8.1% over the forecast period 2020 to 2025
The pharmaceutical Industry industry in Europe is experiencing constant disruption as it experiences exponential growth with the changing lifestyle and more and more people being diagnosed with various diseases and increased spending on healthcare by the government bodies. However, it continues to face challenges such as globalization of drug supply, rise in chronic lifestyle, and evolving threat concerning counterfeit medicine, among others.
Before the global pandemic COVID-19, the industry was driving growth concerning the growth of the e-commerce industry, increase interest in sustainable materials, and integration of smart technologies. Still, later the pandemic, there has been a surge in demand for healthcare packaging such as pumps, flexible blister foils, among others. Also, with the need for biologics and vaccines, the companies are now investing in the sterile format and are expanding their production capacity.
Market Highlights
- The pharmaceutical packaging industry in the region plays a vital role in helping the evolving pharma industry to address the impact associated with challenges being felt across the market ensuring the protection of drugs against all sorts of alteration in the properties caused as a result of physical damage, degradation, biological contamination while driving boost in profits.
- Over the period last few years, the packaging sector in the region is experiencing a great deal of transformation with the industry’ changing focus towards personalized approaches with development of platforms such as IoMT, genomics, and other connected medical devices, localized production of customized medicines added with the increase in the number of SMEs entering the market, increasing demand for cannabis-based medicinal products and diversification of the innovators.
- Also, with the introduction of innovative techniques like Blow-Fill-Seal technology and the increasing need for anti-counterfeiting technologies are changing the market drastically. The increasing globalization has resulted in the setting up of manufacturing plants all across the world, thereby improving the raw materials used and lengthening the supply chains.
- Additionally, with the recent European Union (EU) regulations mandating pharmaceutical serialization in effect since February 2019, added with the US Drug Supply Chain Security Act compliance extended to 2023 is driving the serialization and track-and-trace efforts thereby are promoting the pharmaceutical traceability and authenticity in the region. Similarly, other EU regulation now requires dimensional codes on the medical packaging to help identify the product and verify their authenticity leveraging the smartphone technology drives the digitalization of the packaging industry. Further
- According to a study conducted by the UN, the release of antibodies into the environment will accelerate the emergence of resistant strains and will impact the antibiotic pollution, which continues to be the topic of the global discussion in 2020. Owing to such instances, the manufacturers of pharmaceutical packaging are showcasing greater emphasis on sustainability by considering recyclable and biodegradable packaging materials, reduction in their carbon footprint, and lifecycle analyses.
- However, although Europe has been the second just behind North America with more than a third of the global market but with the emergence of China and other Asia-Pacific nations remains a threat, the increasing need for faster production and enhances shelf appeal are driving the market ahead. Some concerns to this market are the stringent regulations to pharmaceutical packaging by the governments across Europe, environmental concerns regarding the use of plastics, and the rising costs of raw materials used.
Key Market Trends
Sustainable packaging materials to drive the market growth
- The pharmaceuticals industry is known to be a significant global polluter as it is responsible for generating the greenhouse gas emissions, i.e., 55% greater than that of the gas emitted by the automotive industry owing to the growing number of regulations and compliance such as the Paris agreement added with raising concern of people against the non-recyclable packaging materials is enabling the manufacturers to switch to sustainable materials.
- Also, Most of the R&D efforts by Europe’s pharma packaging companies concerning drug dispensing systems are focused on factors such as sustainability, increasing compliance, and child safety considerations, among others.
- For instance, major players such as Ramaco Siebler, Huhtamaki announced their plans to launch a range of recyclable unit dose packaging for the reliable pharmaceutical products to be made from recyclable material such as polyolefin laminate. The component of the packaging is expected to be made from 90% of either polypropylene or polyethylene, with more than 70% of the product would be recycled. Also, the companies have significantly reduced their emissions over the years.
- Furthermore, In February 2020, Natupharma A/S based in Europe developed a novel completely recyclable, biodegradable plastic packaging solution made of plastic additive and sugarcane, which is aimed to be used in the pharmaceutical industry owing to its biodegradability nature that does not alter the product’ shelf life.
- Evidently, It is expected that pharma packaging will shift towards more sustainable materials by moving away from the plastic, which the industry traditionally has been heavily dependent on for design and manufacturing. Also, the industry would continue the application of polyethylene terephthalate (PET) owing to its capability of breaking down its molecular level back into PET.
Company Profiles
- Amcor Ltd.
- CCL Industries Inc.
- Intrapac Group
- Schott AG
- Meadwestvaco Corporation
- Nypro Inc.
- Aptar group Inc.
- Ramaco Siebler
- Wihuri Group
- Gerresheimer AG
- Klockner Pentaplast Group
- West Pharmaceutical Services, Inc.
- Catalent Pharma Solutions, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uln1lw
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