PUBLISHER: The Insight Partners | PRODUCT CODE: 1494445
PUBLISHER: The Insight Partners | PRODUCT CODE: 1494445
The Europe artwork management software market was valued at US$ 156.28 million in 2022 and is expected to reach US$ 330.45 million by 2030; it is estimated to grow at a CAGR of 9.8% from 2022 to 2030.
Growing Adoption in Pharma and Life Science Sectors Drive Europe Artwork Management Software Market
There is a rising demand for medicines and other life science elements worldwide. In the pharmaceutical industry, packaging & labeling are highly recognized as a mission-critical process, which assists the organization to frame strategic goals for attracting more customers. New rules and regulations emerge with the rising frequency of label changes, increasing the use of an artwork management system to lower human errors, reduce discrepancies in processes, and improve label quality & business agility.
Additionally, the medical device companies have to comply with regulatory requirements such as the European Union's MDR systems and Falsified Medicines Directive (FMD), the Food and Drug Administration's Unique Device Identification (UDI), and Drug Supply Chain Security Act (DSCSA) to maintain the smooth operations of pharmaceutical and life science sectors. Thus, to cater to the above government regulation and increase the efficiency and accuracy of packing and labeling of healthcare products, various companies are increasingly adopting artwork management software. For instance, in July 2020, enLabel Global Services announced a strategic partnership with MediaJet and Epson to produce on-demand patient implant cards. Under this partnership, through the Integrated Packaging Management (IPM) Software Platform, enLabel can help Epson and Media Jet to deliver best-in-class, end-to-end solutions for color label printing in the medical device and healthcare industries. Further, various pharma companies are using artwork management software. Janssen (Johnson & Johnson), Ferring Pharmaceuticals, Abbott Nutrition, and Endo are among the prominent companies using the artwork management software by Loftware, Inc. for their pharma business. Therefore, the growing adoption of artwork management software by pharma and medical device manufacturers is fueling the market growth.
Europe Artwork Management Software Market Overview
Europe artwork management software market is segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. Western European countries are more advanced than the Nordic and Eastern European countries, which is a major factor contributing to the high adoption of technological solutions across all industries in Western Europe. Germany, Italy, the UK, Spain, and other economically strong countries have been significantly implementing advanced solutions. Pharmaceutical, e-commerce, food & beverages, FMCG, and manufacturing industries are a few of the largest consumers of artwork management solutions in Europe. Automation in these industries helps reduce cost and time, especially in manufacturing processes. The region witnessed a significant surplus in the food and beverage trade. According to European Commission, in the past decade, EU's food and beverage exports have doubled, accounting for more than EUR 90 billion. Further, the EU food legislation is extremely harmonized, and it benefits significantly from the opportunities provided by the EU single market. In 2021, agricultural, fisheries, and food & beverage (F&B) products accounted for 8.8% of all exported goods in the EU and 7.0% of all goods imported into the region. EU exported agricultural, fisheries, and food and beverage (F&B) products to non-member countries with a trade surplus of US$ 216.28 billion (EUR 191 billion). The growth in food exports in Europe increases the production activity in the manufacturing units. These units require artwork management software for efficient packaging and labeling of food & beverage products, which increases its adoption among manufacturers. Major food and beverage companies in Europe-such as Danone (London) and Diageo (Belgium)-are making significant investments in their artwork management software to automate their labeling and packing solutions for manufactured products, which is fueling the market growth.
The retail market of Europe is not homogenous; therefore, several countries in the region are at different phases of retail development. The retail sector in Europe is the largest industrial ecosystem with 99% of SMEs. Retail encompasses most industrial ecosystems and has the strongest linkages with the agri-food, textiles, tourist, and social economy ecosystems. The retail industry has been completely revolutionized by digital technologies. The adoption of artwork management software among users in retail industry positively impacted merchants' activities by providing cost-effective product packaging and labeling. This helps retailers expand their business by increasing their consumer base.
Germany, France, and the UK are established retail markets, while Turkey and Russia are still considered new. The UK, Germany, and France control more than half of Western European retail. Further, the emerging retail sectors in Russia, the Czech Republic, and Poland are witnessing the entry of new retailers, which is expected to boost the demand for artwork management software in these countries in the coming years.
Europe Artwork Management Software Market Revenue and Forecast to 2030 (US$ Million)
Europe Artwork Management Software Market Segmentation
The Europe artwork management software market is segmented based on deployment, application, and country.
Based on deployment, the Europe artwork management software market is bifurcated into cloud and on-premise. The cloud segment held a larger share in 2022.
By application, the Europe artwork management software market is segmented into life sciences, retail, manufacturing, and others. The life sciences segment held the largest share in 2022.
Based on country, the Europe artwork management software market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Germany dominated the Europe artwork management software market in 2022.
enLabel Global Services Inc, Loftware Inc, Perigord Asset Holdings Ltd, Freyr LLC, Esko-Graphics BV, Pharmaceutical Design BV, Kallik Ltd, and Aptean Inc are some of the leading companies operating in the Europe artwork management software market.