The Europe Pharmaceutical Packaging Market would witness market growth of 9.6% CAGR during the forecast period (2020-2026). The pharmaceutical packaging market is estimated to record a significant growth rate over the forecast period.
It is because of the factors like developments in the manufacturing process to create biodegradable & sustainable packaging solutions, the rising product developments, and mergers & acquisitions to cater changing demands & requirements of the market. Moreover, the increasing demand for generic drugs, serialized tracking & tracing of the products, significant rise in drug delivery market, the growing investment in the R&D department, and the advancement in the packaging technology will propel the pharmaceutical packaging market.
Although, the changing price of raw materials, strict government rules & regulations may hamper the growth of the market. On the other hand, the latest development in the biotechnology industry helps in the launch of the latest parenteral therapies, rising demand for advanced packaging products and increasing usage of innovative packaging for user engagements and identification will boost the market growth. Along with that, the rising production of patient-oriented medicines like biologics is anticipated to surge the growth of the pharmaceutical market over the forecast years.
Moreover, the outbreak of the Covid-19 pandemic resulted in the absence of a workforce; restrictions on transportations, the inadequacy of raw materials, and the imposition of lockdown all over the world which had restricted the product supply. In addition, the approval of the vaccine, which is transported through various administration routes, is expected to boost the market because of the increasing demand for primary and secondary packaging of the vaccine. Hence, the pandemic has a positive impact on the pharmaceutical market and is also estimated to boost its growth over the forecast period.
Based on Material, the market is segmented into Plastics & Polymers, Paper & Paperboard, Glass, Surveillance & Monitoring, and Others. Based on Product, the market is segmented into Plastic Bottle, Specialty Bags, Labels, Blister packing, Parenteral Container, Closures, and Other Products. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Germany market dominated the Europe Specialty Bags Pharmaceutical Packaging Market by Country 2019, thereby, achieving a market value of $1,512.3 million by 2026. The UK market is exhibiting a CAGR of 9.8% during (2020 - 2026). Additionally, The France market is poised to grow at a CAGR of 11.5% during (2020 - 2026).
Free Valuable Insights: Pharmaceutical Packaging Market in Europe is expected to register a CAGR of 9.6% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, CCL Industries Ltd., Amcor PLC, AptarGroup, Inc., O-I Glass, Inc. (Owens Illinois, Inc.), West Pharmaceutical Services, Inc., Berry Global Group, Inc., WestRock Company, International Paper Company, and Comar, LLC.
By Material
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By Country
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