Pharmaceutical Labeling Market Research Report: Global Market Review & Outlook (2019-2024) – IMARCGroup.com
According to the latest report by IMARC Group titled, “Pharmaceutical Labeling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the pharmaceutical labeling market size to reach US$ 6.5 Billion by 2024, registering a CAGR of 5.5% during 2019-2024.
A pharmaceutical label is a piece of paper or plastic, which offers information such as dosage, ingredients, indications, effects, dosages, routes, methods, manufacturing date and duration of administration, warnings, hazards, contraindications, side effects and precautions. It aids in branding, conveying critical medical data, preventing excessive regulatory penalties and communicating with the consumers. Pharmaceutical companies nowadays have started using value-added labeling solutions such as labels with QR codes and RFID tags.
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The global pharmaceutical labeling market is driven by innovations, along with the introduction of advanced technologies in the industry. For instance, Hally Labels, a US-based label manufacturer, has created thermochromic labels that can change color when the product is not stored within the specified temperature range. These labels are highly useful for the storage and transportation of temperature sensitive clinical samples and drugs. Apart from this, the rise in the geriatric population is catalyzing the demand for pharmaceutical products, which in turn is impelling the market growth. Furthermore, the introduction of inexpensive sleeve labels is also contributing to the growth of the market.
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Key Market Segmentation:
Breakup by Label Type
1. Pressure-Sensitive Label
2. Glue-Applied Label
3. Sleeve Label
4. In-Mold Label
5. Others
Breakup by Material
1. Paper
2. Polymer Film
3. Others
Breakup by Application
1. Instructional Label
2. Decorative Label
3. Functional Label
4. Promotional Label
5. Others
Breakup by End Use
1. Bottles
2. Blister Packs
3. Parenteral Containers
4. Pre-Fillable Syringes
5. Pre-Fillable Inhalers
6. Pouches
7. Others
Breakup by Region
1. Europe
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Competitive Landscape
The report has also analyzed the competitive landscape of the market with some of the key players being 3M, Avery Dennison, Bemis, CCL Industries, Essentra, LINTEC, SATO Holdings, Advanced Labels, Edwards Label, Jet Label, Consolidated Label, Axon, Clabro Label, Classic Label, Maverick Label, Metro Label, Progressive Label, MCC Label, Mercian Labels, Taylor Label, etc.
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