The Pharmaceutical Label Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/pharmaceutical-label-global-market-report
According to The Business Research Company’s Pharmaceutical Label Global Market Report 2024, The pharmaceutical label market size has grown strongly in recent years. It will grow from $6.34 billion in 2023 to $6.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to stringent regulatory requirements, increasing pharmaceutical production, rise in counterfeiting concerns, growing emphasis on patient safety, globalization of pharmaceutical supply chains.
The pharmaceutical label market size is expected to see strong growth in the next few years. It will grow to $9.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing use of smart labels, rising adoption of sustainable labeling solutions, increased focus on patient-centric packaging, demand for tamper-evident labels, expansion of personalized medicine, integration of track-and-trace systems. Major trends in the forecast period include smart packaging and track-and-trace solutions, tamper-evident and anti-counterfeiting features, personalized and variable data printing, compliance with regulatory standards, sustainability and eco-friendly labeling.
The increasing launch of pharmaceutical drugs is expected to propel the growth of the pharmaceutical label market going forward. The high prevalence of diseases and enhanced consumption of pharmaceutical drugs create demand for pharmaceutical labels. The pharmaceutical label helps in the understanding of important information about drugs. For instance, according to a report, The Global Use of Medicines 2022 published by IQVIA, a US-based provider of biopharmaceutical development and commercial outsourcing services, about 300 new drugs will be launched by 2026, an increase from the past decade. Therefore, the enhanced consumption of pharmaceutical drugs is driving the pharmaceutical label market.
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The pharmaceutical label market covered in this report is segmented –
1) By Type: Pressure-Sensitive Label, Glue-Applied Label, Sleeve Label, In-Mold Label, Other Types
2) By Material: Paper, Polymer Film, Other Materials
3) By Application: Instructional Label, Decorative Label, Functional Label, Promotional Label, Other Applications
4) By End Use: Bottles, Blister Packs, Parenteral Containers, Pre-Fillable Syringes, Pre-Fillable Inhalers, Pouches, Other End Uses
Product innovations are the key trends gaining popularity in the pharmaceutical label market. Companies operating in the pharmaceutical label market are adopting innovative products to sustain their position in the market. For instance, in October 2022, Schreiner Group, a Germany-based healthcare labeling specialist, launched Pharma-Tac hanger label and Autoinjector-label, sustainable functional labels. They are uniquely designed with film materials that are recycled or produced from renewable raw materials with removable documentation parts and anti-slip functionality. To demonstrate the performance of sustainable materials the labels went under a series of extensive tests like load and gravitational trials and testing for adhesion and ink adhesion.
The pharmaceutical label market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Label Market Characteristics
3. Pharmaceutical Label Market Trends And Strategies
4. Pharmaceutical Label market analysis
5.Pharmaceutical Label Market Size And Growth
6 .Pharmaceutical Label Segmentation
7. Pharmaceutical Label Regional And Country Analysis
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27.Pharmaceutical Label Competitive Landscape And Company Profiles
28. Pharmaceutical Label Key Mergers And Acquisitions
29.Pharmaceutical Label Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- CCL Industries Inc.
- Minnesota Mining and Manufacturing Company
- Essentra PLC
- Avery Dennison Corporation
- Multi-Color Corporation
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