The size of the healthcare packaging market in Europe is anticipated to be worth USD 51.8 billion by 2027 from USD 37.57 billion in 2022, growing at a CAGR of 6.63% from 2022 to 2027.
YOY growth in patients suffering from chronic diseases propels the European healthcare packaging market growth. According to the World Health Organization (WHO), an estimated one in five people in Europe suffer from at least one chronic disease in their lifetime. Chronic diseases such as diabetes, cancer, heart-related disorder, and infectious disease need quality drugs to prevent or treat. Cancer and heart-related drugs are more costly compared to other drugs. These drugs are in solid, liquid, or powder form and need good packaging to be transported without spilling or leaking drugs into the surroundings. If a high concentration of these drugs is wasted, it can result in a loss to the pharmaceutical companies. As a result, extreme care is taken in packing these drugs, which demands market growth. Furthermore, Special packaging must be done for single-use medical products such as needles, syringes, face masks, etc., as these are used only once and are to be disposed of after use, thus needing packaging which does not allow the spread of the virus to other people or devices.
The increasing demand for counterfeit prevention mechanisms further promotes the healthcare packaging market growth in the European region. The availability of counterfeit drugs in the market reduces the demand for the original drugs. Thus, pharmaceutical companies are focusing on preventing counterfeiting. To apply this gatekeeping of authentic drugs and medications, companies focus on the packaging type and the trademark on the medicine package. Furthermore, the growing adoption of technological developments such as IoT in the healthcare system favors regional market growth. IoT helps track the medicine and the capsule in every stage, from the packaging to the transportation of the drug. These trackers are connected to smart devices which can easily track the information about the drug. Furthermore, the rising involvement of sterilization in healthcare packaging is expected to support regional market growth. Increasing research on the durability of the packaging and checking that it is water and heat-proof if placed too long in one position, factors such as are expected to aid the market growth.
However, the issues associated with the materials used during the packaging are one of the major factors hampering European market growth, and using low-quality materials for packaging damages the final product in the shipping process. In addition, variation in the prices of raw materials impedes market growth. Furthermore, logistical issues are further inhibiting the European region's market growth. Shipping a large volume of medicine also damages the drugs inside, resulting in the waste of drugs and loss to the producer of the drugs.
This research report on the global healthcare packaging market has been segmented and sub-segmented based on product type, material, end-user, and region.
By Product Type:
By Material:
By End-User:
By Country:
Geographically, the European region had the second-largest global market share in 2021. In Europe, several rules and regulations are followed during the healthcare packaging process to reduce the wastage of drugs. These are standard rules for healthcare packaging for all EU states from the last 30 years.
Germany led the healthcare packaging market in Europe in 2021 and is expected to continue holding a significant share of the region during the forecast period owing to the growing packaging services for pharmaceutical products. The market participants from Germany are using advanced technologies and packaging methods to make it hygienic and dust free. In addition, Germany provides quality packaging at affordable costs, which is one of the primary factors contributing to the dominance of the country in the European region.
On the other hand, the UK market is anticipated to hold a notable CAGR during the forecast period. In the United Kingdom, several package systems have been introduced during the forecast period to increase the demand for medical packaging. As a result, the medical package plays a significant role in the demand for the product based on company standards.
KEY MARKET PARTICIPANTS:
Companies playing a significant role in the European healthcare packaging market are Companies such as Gerresheimer AG, Corning Incorporated, Nipro Corporation, SGD SA, Stölzle-Oberglas GmbH, Bormioli Pharma SRL, Schott AG, Shandong Medicinal Glass Co. Ltd., Beatson Clark PLC, Arab Pharmaceutical Glass Co, Piramal Glass Pvt Ltd, and Sisecam Group.
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