Press release
Pharmaceutical Label Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | CCL Industries Inc., Minnesota Mining and Manufacturing Company, Essentra plc, Avery Dennison Corporation
Pharmaceutical Label Global Market Report
The Business Research Company offers in-depth market insights through Pharmaceutical Label Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
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
Major Driver - Rising Pharmaceutical Drug Launches Boosting Growth Of Pharmaceutical Label Market
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.
Competitive Landscape:
Major companies operating in the pharmaceutical label market report are CCL Industries Inc., Minnesota Mining and Manufacturing Company, Essentra plc, Avery Dennison Corporation, Multi-Color Corporation, SATO Holding Corporation, Consolidated Label Co., Bemis Manufacturing Company, LINTEC Corporation, Advanced Labels, Edwards Label Inc., Clabro Label Inc, Classic Labels PG, MaverickLabel.Com Inc., Metro Label, Schreiner Group, WS Packaging Group Inc., Amcor Limited, Gerresheimer AG, Berry Global Inc., Constantia Flexibles Group GmbH, Huhtamaki Oyj, Inland Label & Marketing Services LLC, MPI Label Systems Inc., Resource Label Group LLC, Smyth Companies LLC, The Kennedy Group Inc., Weber Packaging Solutions Inc., Walle Corporation, Coast Label Company
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Top Trend - Innovative Sustainable Labels Reshaping The Pharmaceutical Label Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharmaceutical Label Market Characteristics
3. Pharmaceutical Label Market Trends And Strategies
4. Pharmaceutical Label Market - Macro Economic Scenario
5. Pharmaceutical Label Market Size And Growth
…..
27. Pharmaceutical Label Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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