The Europe Pharmaceutical Packaging Materials Market size is anticipated to reach USD 9.91 billion by 2025, expanding at a CAGR of 7.7% during the forecast period, according to a new report by Grand View Research, Inc. Technological advancements are projected to positively impact the demand. The quality of packaging facilitates easy handling safety of the pharmaceuticals, especially during storage and transportation. Rising environmental awareness and stringent regulatory framework are other factors anticipated to create growth opportunities in near future.
Growth of the Europe market is likely to be driven by the increasing consumption of medicines owing to the rise in the aging population, mainly in countries, such as Italy, Germany, and others. Factors such as regulatory interventions to reduce plastic waste and an increase in the usability of pharmaceutical packaging have driven manufacturers toward adopting bioplastics and recycled plastic materials from waste as a substitute for virgin plastic.
The market is expected to witness a growth of 7.7% over the forecast period, owing to rising product demand from various from various application such as plastic bottles, blister packs, labels and accessories, caps and closures, medical specialty bags, and others. Rising demand for plastic bottles and blister packs is significantly driving the regional market growth.
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Further key findings from the repot suggest:
- Polypropylene was the largest product segment in the Europe pharmaceutical packaging material market and accounted for a revenue share of 26.74% in 2018
- Polypropylene emerged as the fastest growing product segment in Europe on account of the chemical properties of the product, such as resistance to chemical solvents, acids, and bases along with excellent mechanical strength
- Pre-filled syringes application segment accounted for a market share of 12.51% in terms of revenue, in 2018 and is projected to expand at the highest CAGR over forecast period
- Stringent environmental rules and regulations and focus on indoor air quality is anticipated to drive the HDPE and PET product segment
- Key players include Eastman Chemical Company, Covestro AG, Dow, LyondellBasell Industries Holdings B.V., Sumitomo Chemical Co., Ltd., Arkema, Solvay S.A., Mitsubishi Chemical Europe GmbH, Exxon Mobil Corporation, and Formosa Plastics Corporation
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Grand View Research has segmented the Europe pharmaceutical packaging materials market on the basis of product, application, and country:
Europe Pharmaceutical Packaging Materials Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polyester (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
Europe Pharmaceutical Packaging Materials Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Plastic Bottles
- Blister Packs
- Label & Accessories
- Caps & Closures
- Medical Specialty Bags
- Pre-Filled Syringes
- Ampoules
- Jars & Canisters
- Others
Europe Pharmaceutical Packaging Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
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Pharmaceutical Packaging Market: https://www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market
Flexible Plastic Packaging Market: https://www.grandviewresearch.com/industry-analysis/flexible-plastic-packaging-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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