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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Europe Pharmaceutical Packaging Materials Market Report Highlights
• 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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Europe Pharmaceutical Packaging Materials Market Segmentation
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
• Jars & Canisters
Europe Pharmaceutical Packaging Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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