According to a new market report published by Lucintel, the future of the global pharmaceutical label market looks promising with opportunities in the bottles, blister packs, parenteral containers, pre-fillable syringes, pre-fillable inhalers, and pouches. The global
pharmaceutical label market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $6.9 billion by 2025 with a CAGR of 4% to 6% from 2020 to 2025. The major drivers for this market are growth in the pharmaceutical industry along with growing healthcare expenditures in developing economies.
In this market, pressure sensitive, glue applied, sleeve, and in mold labels are used for labeling to convey the essential information of the drugs. On the basis of comprehensive research, Lucintel forecasts that the pressure sensitive labels will remain the largest segment over the forecast period because these labels are versatile, convenient to use, and available in different designs and patterns. The sleeve label segment is expected to witness the highest growth during the forecast period because this label can be used for 360° degree branding and messaging of the product.
Within the global pharmaceutical label market, bottles will remain the largest end use segment over the forecast period because they provide convenience, safety, and security for solid, liquid, and ophthalmic medication.
Paper and polymer film are used for pharmaceutical labeling. Lucintel forecasts that the polymer film will remain the largest over the forecast period due to its variety of grades and significant barrier properties.
North America is expected to remain the largest region due to recent technological advancements in pharmaceutical labels. APAC is expected to witness the highest growth rate over the forecast period due to its growing pharmaceutical industry and stronger prevention of counterfeit pharmaceutical products.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of recyclable and biodegradable label products and adoption of expanded content label design. CCL Industries, 3M Company, Essentra, Avery Dennison Corporation, MCC Label, SATO Holding Corporation, and Consolidated Label are among the major suppliers of the pharmaceutical label market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global pharmaceutical label market by label type, material, application, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Pharmaceutical Label Market 2020-2025.” The Lucintel report serves as a catalyst for growth strategy by providing a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global pharmaceutical label market by label type, material, application, end use, and region, as follows:
By Label Type [$M shipment analysis for 2014 to 2025]:
Pressure-sensitive labels
Glue-applied labels
Sleeve labels
In-mold labels
Others
By Material [$M shipment analysis for 2014 to 2025]:
Paper
Polymer film
Others
By Application [$M shipment analysis for 2014 to 2025]:
Instructional and decorative labeling
Functional labeling
Promotional and other labeling
By End Use [$M shipment analysis for 2014 to 2025]:
Bottles
Blister packs
Parenteral containers
Pre-fillable syringes
Pre-fillable inhalers
Pouches
Others
By Region [$M shipment analysis for 2014 to 2025]:
North America
Europe
APAC
ROW
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