Increase in Production of Pharmaceuticals to lead the market growth during forecast period
According to The Insight Partners market research study of “Europe Medical Grade Paper Market Forecast to 2027 – COVID-19 Impact and Analysis – by Product, Service, and End User,” the market is projected to reach US$ 1,767.69 million by 2027 from US$ 1,311.60 million in 2019. The market is estimated to grow at CAGR of 3.9% from 2020 to 2027. The report highlights trends prevailing in the Europe medical grade paper market and the factors driving market along with those that act as hindrances.
The production of pharmaceuticals is a never-ending trend for the healthcare industry. Sterile packaging for pharmaceutical products is a primary and essential aspect to protect the product. Sterile packaging helps to maintain or ergonomically protect the integrity of a product. The majority of the medical grade paper is used to make boxes for blister containing medicines. Moreover, the medical grade paper is used for different packages, such as individual-wrap packages, multi-compartmental trays, pouches, and cartons.
On the other hand, the disruption due to COVID-19 outbreak has severed vital growth opportunities to enhance the medical paper's quality to strengthen the resistance power of bacterial and viral penetration up to the medicinal products. Hence, it is expected to drive the market’s growth in the following years. It is also expected to alter regulatory compliance and play an important role in rapidly shifting risks. Increasing incidence of chronic and acute diseases, infectious diseases, and various other medical conditions is projected to raise the continuous demand for pharmaceutical products. Thus, increasing production of pharmaceutical products is expected to influence the market's growth during the forecast period.
The growth of the market in the region is attributed to the factors such as growing consumption of medical supplies and rising demand for medical grade paper. However, stringent regulations on manufacturing medical grade paper is the major factor hindering the market growth.
Arctic Paper SA, PMS Europe GMBH, BillerudKorsnäs AB, VP Group, Zellstoff Pöls AG (Heinzel Group), Gascogne Group (Gascogne Papier), and Nelipak Corporation are among the leading companies operating in the Europe medical grade paper market.
Europe Medical Grade Paper Market, by Country, 2019 (%)
The report segments Europe medical grade paper market as follows:
By Product
- Kraft Paper
- Sack Paper
By Application
- Steam Sterilization
- Ethylene Oxide Sterilization
- Formaldehyde Sterilization
- Irradiation Sterilization
By End User
- Hospitals
- Diagnostic and Research Centers
- Pharmaceutical Industry
- Others
By Country
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
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