Medical Device Labeling Market Witnessing Stunning Growth & Opportunities in the Coming Years

The increasing complexity of medical devices has compelled device manufacturers to convey important information to consumers. This has been a major factor fueling the demand for medical device labels. Manufacturers use medical device labeling to provide general description of the medical device and other additional information. Rising number of new medical devices and drug discoveries are some of the prominent factors which lead to increasing demand of the global medical device labeling market. FDA standards for patient safety is one of the prime factors that is driving the medical device labeling market. With significant growth in the healthcare and pharmaceutical industry, medical device labeling market is expected to witness exponential growth. Established players have expanded their production capabilities as well as their geographical reach to consolidate their position.

Drivers & Restraints:

Increasing globalization and cross border trade is one of the key factors which are expected to play a critical role in the growth of the global medical device labeling market. Medical device labels with multi language instructions helps manufacturers to trace their product for documentation and efficient distribution. Global supply chains for pharmaceuticals are getting elongated. Also, with stringent regulations regarding standards for patient safety by the FDA, more and more medical device manufacturers are focused on compliant labeling procedures, which is also anticipated to help in boosting sales of medical device labels, during the forecast period.

According to the U.S. Food and Drug Administration (FDA), the labels of medical devices are now required to include a UDI through distribution and use, except where the rule provides for an exception or alternative placement. A UDI is a unique numeric or alphanumeric code that consists of two parts: a device identifier (DI) and a production identifier (PI).

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On the basis of label type, medical device labeling market is segmented into pressure sensitive labels, glue applied labels, sleeve labels, in mold labels, and others. Pressure sensitive labels segment accounts for the largest market share of medical device labeling market of because of growth in the technological advancements to overcome the existing challenges. On the basis of material type, medical device labeling market is segmented into paper, plastic and other segment. Paper segment dominates the market of global medical device labeling market. On the basis of application, the medical device labeling market is segmented into disposable consumables, monitoring & diagnostic equipment, and therapeutic equipment. Disposable consumables segment is however expected to dominate the market during the forecast period.

The North America region is estimated to account for the largest share in medical device labeling market due to high investment on research and development in the medical sector in this region. North America is expected to trail the APAC region in medical device labeling market. The MEA region is estimated to contribute small but rapidly growing market share. Growth in medical device labeling market in Latin America region is expected to be moderate during the forecast period.

A few of the key players in the global medical device labeling market include 3M Company, Amcor Limited, Mondi Group Plc, Avery Dennison Corporation, Lintec Corporation, Huhtamaki Oyj, UPM Raflatac, CCL Industries Inc, Schreiner Group GmbH & Co. KG, Denny Bros Ltd., WS Packaging Group, Inc, Resource Label Group LLC, Faubel & Co.Nachf. GmbH, Tapecon Inc., Weber Packaging Solutions, Inc., JH Bertrand Inc., Coast Label Company, and Label Source.

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Medical Device Labeling Market to Gain Impetus from Improving Medial Infrastructure and Facilities

The increasing number of complex medical devices and growing number of research and development activities are expected to aid in expansion of the global medical device labeling market. Expanding globalization and cross boundary exchange is one of the key elements which are relied upon to assume a basic job in the development of the worldwide clinical gadget naming business sector. Clinical gadget names with multi language guidelines causes makers to follow their item for documentation and effective conveyance. Worldwide inventory chains for drugs are getting extended. Additionally, with severe guidelines in regards to norms for tolerant wellbeing by the FDA, increasingly more clinical gadget producers are centered around agreeable naming methodology, which is likewise foreseen to help in boosting deals of clinical gadget marks, during the estimate time frame.

The global medical device labeling market is categorized on the basis of label type, material type, application, and region. As per by label type, the market is classified into pressure sensitive labels, glue applied labels, sleeve labels, in mold labels, and others.  Based on material type, the market is grouped into paper, plastics, and others. In terms of application, the market is grouped into disposable consumables, monitoring & diagnostic equipment, and therapeutic equipment.

Regionwise, the market is dominated by North America owing to the high investment on research and development activity. On the other side, the improving healthcare and medical services in the emerging economies such as India, China, and others will help boost growth of the medical device labeling market in the Asia Pacific region. Furthermore, the market in the Middle East and Africa will also witness significant growth during the forecast period owing to improving healthcare infrastructure and facilities and advent of latest medical devices. Some of the prominent players of the global medical device labeling market include Resource Label Group LLC, Schreiner Group GmbH & Co. KG, Mondi Group Plc, Lintec Corporation, Coast Label Company, 3M Company, and others.

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