The artwork management software market in Europe is expected to grow to US$ 265.77 million by 2028 from US$ 139.59 million in 2021. The market is estimated to grow at a CAGR of 9.6% from 2021 to 2028. The artwork management tool is majorly used in pharmaceutical and life sciences sectors. With the rising demand for medicines and other life science elements across the world, both the aforesaid sectors are getting inclined toward using artwork management tools. Throughout the pharmaceutical industry, packaging & labeling is highly recognized as a mission-critical process, which assists the organization to frame strategic goals for attracting more customers. Frequent label changes are a matter of course and new rules & regulations emerge with rising frequency. This factor will help in making 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), and 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 sciences sectors. Therefore, the manufacturers are reviewing medical device packaging and barcode labeling processes to comply with the emerging regulatory requirements.
The impact of COVID-19 outbreak differed from country to country across Europe as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. In order to protect its citizens from the novel coronavirus that caused COVID-19, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. The UK’s logistics and transportation sectors are widely spread and handle significantly higher volumes of food & beverage and pharmaceuticals & chemicals. Attributing to the rise in the number of COVID-19 infected patients, the British government imposed lockdown measures to contain the spread of the virus. This has propelled the adoption of artwork management tool to move higher volumes of produced pharmaceuticals from the production units to warehouses. Pertaining to the fact that Germany, Denmark, the Netherlands, Switzerland, and Italy are fastest-growing exporters of medicines and drugs, the scope of artwork management tool among pharmaceutical business in mentioned countries will continue to rise during the forecast period.
Based on deployment the artwork management software market is segment into on-premise and cloud; on-premises segment led the artwork management software market based on deployment in 2020. The on-premises type includes resources within the IT infrastructure of a company or an organization’s premises. The software company is solely responsible for the maintenance, upgrade, and all other operations necessary for the proper functioning of these software products. As the software solutions are licensed and their complete illustration lies within the physical boundaries of organizations, they provide greater protection and security compared to cloud-based software infrastructure. The on-premises type needs software licenses; in-house server hardware; integration capabilities; and IT technicians to support, operate, and manage the complexities arising while accessing the software. Thus, it is associated with high cost of installation, upgrade, and maintenance of complete solutions. Therefore, the on-premise type is majorly adopted by large and well-established companies that can invest large amounts on these activities.
The Europe artwork management software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe artwork management software market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe artwork management software market. enLabel Global Services; Karomi Inc.; Loftware, Inc.; Perigord Life Science Solutions; Freyr; Esko-Graphics BV.; Twona; Kallik; and Lascom are among the leading companies in the market.