The Europe pharmaceutical packaging equipment market size was valued at USD 1.68 billion in 2022. This value is expected to grow at a CAGR of 6.75% during the forecast period and be worth USD 2.32 billion by 2027.
Pharmaceutical Packaging Equipment is an essential market for the healthcare industry as it helps protect medicines from toxic influences. Therefore, the recent period has seen a significant rise in the importance paid to pharmaceutical packaging equipment. The containers that hold pharmaceutical products are bottles, ampoules, single-dose containers, tubes, etc. Pharmaceutical packaging comprises plastic, glass, paper, metal, and various raw materials.
The growth of the Europe Pharmaceutical Packaging Equipment Market is mainly driven by increasing awareness about the quality and safety of pharmaceutical medications. The pharmaceutical industry's sudden expansion is expected to drive market growth for this region. In addition, the increase in demand for pharmaceutical drugs is directly accelerating the market for pharmaceutical packaging equipment. The growing demand for flexible packaging equipment by the key pharmaceutical manufacturers in this region is a positive sign for the market.
However, an unsuitable political environment and high competition are preventing the growth of this market.
This research report on Europe pharmaceutical packaging equipment market has been segmented and sub-segmented into the following categories:
By Product Type:
Geographically, the European market captured the second largest share of the worldwide market in 2021 and is anticipated to grow at a notable CAGR during the forecast period owing to factors such as R&D development and increasing concern for the quality of pharmaceutical medicines.
The UK market is estimated to witness a healthy CAGR during the forecast period. The UK market growth is primarily driven by factors such as increasing analysis of the quality of pharmaceutical medicines and research and development activities. In addition, an increase in the ratio of healthcare centers and pharmacies is anticipated to favor the growth rate of the UK pharmaceutical packaging equipment market.
Germany is another potential regional market for pharmaceutical packaging equipment in the European market and is predicted to occupy a substantial share of the European market during the forecast period. The presence of the major market participants and one of the largest producers of chemicals and plastics are majorly promoting the German pharmaceutical packaging equipment market. Increasing requirements for brand enhancements, new packaging material development, and rising in-depth knowledge regarding the environmental issues and obtainment of unique regulatory needs on packaging recycling augmented to drive the German market growth.
KEY MARKET PLAYERS:
Companies playing a notable role in the Europe pharmaceutical packaging equipment market profiled in the report are Robert Bosch GmbH, Körber AG, Marchesini Group S.p.A., Multivac Group, Uhlmann Group, OPTIMA Packaging Group GmbH, and Romaco Pharmatechnik GmbH.
The Europe Pharmaceutical Packaging Equipment Market is anticipated to grow at a CAGR of 6.75% from 2022 to 2027.
The growing demand for pharmaceutical products, advancements in packaging technology, and government regulations regarding the safety and quality of pharmaceutical packaging are some of the primary factors driving the European pharmaceutical packaging equipment market.
Bosch Packaging Technology, IMA Group, Marchesini Group, Romaco Group, and Uhlmann Group are some of the noteworthy companies in the European pharmaceutical packaging equipment market.
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