Pharmaceutical Primary Packaging Label Market 23

Pharmaceutical primary packaging label market was valued at $2,377.83 mn in 2020, and is projected to reach $4,762.81 Mn by 2030 registering a CAGR of 7.20%

PORTLAND, OREGON, UNITED STATES, September 5, 2022 /EINPresswire.com/ -- The global pharmaceutical primary packaging label market size was valued at $2,377.83 million in 2020, and is projected to reach $4,762.81 million by 2030 registering a CAGR of 7.20% from 2021 to 2030.

Increase in cases of counterfeiting, surge in manufacturing of recyclable and biodegradable label products, and adoption of expanded content label design drive the growth of the global pharmaceutical primary packaging label market. However, stringent government regulations and standards restrain the market growth. On the other hand, usage of smart labeling for patient engagement and identification create new opportunities in the coming years.

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increase in counterfeiting cases and rise in manufacturing of recyclable and biodegradable label products, rise in adoption of expanded content label design, and increase in demand for cryogenic labels during COVID-19 are some factors, which is expected to propel growth of the pharmaceutical primary packaging label market during the forecast period. Moreover, growth in use of the smart labelling for patient engagement and identification are expected to offer profitable opportunities for growth of the market during the forecast period.

The major factors that impact growth of the pharmaceutical primary packaging label market include increase in cases of counterfeiting and rise in manufacturing of recyclable and biodegradable label products. In addition, rise in adoption of expanded content label design and increase in demand for cryogenic labels during COVID-19 also boost growth of the market. However, stringent regulations and standards act as barriers for new entrants and obstruct growth of the pharmaceutical primary packaging label market. On the other hand, growth in use of the smart labelling for patient engagement and identification are expected to offer profitable opportunities for growth of the market during the forecast period.

Covid-19 Scenario

The Covid-19 pandemic disrupted the workflows in the sub-domains of healthcare and pharmaceutical packaging labeling is one of the markets affected during the initial phases of pandemic in 2020.

The demand for pharmaceutical primary packaging label increased during the Covid-19 pandemic with increase in adoption of expanded content label design and demand for cryogenic labels for proper storage or transportation of vaccines at incredibly cold temperatures.

Pharmaceutical label manufacturers launched technologically-advanced products to accelerate the packaging and supply of Covid-19 vaccines.

Key Findings Of The Study

By primary packaging containers, the prescription primary containers segment held the largest share in the global pharmaceutical primary packaging label market in 2020.

By face material, the film segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period.

By adhesive technology type, the solvent acrylic segment dominated the global pharmaceutical primary packaging label market in 2020, and is anticipated to continue this trend during the forecast period.

By storage type, the cryogenic & refrigerated storage products segment held the largest market share in 2020, and is anticipated to continue this trend during the forecast period.

Region wise, North America is expected to experience growth at the highest rate, registering a CAGR of 7.10% during the forecast period.

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The cryogenic and refrigerated storage products segment to maintain its lead position by 2030

Based on storage type, the cryogenic and refrigerated storage products segment held the highest share in 2020, accounting for more than half of the global pharmaceutical primary packaging label market, and is projected to maintain its lead position throughout the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 7.4% from 2021 to 2030. This is due to rise in number of products that need refrigeration and new launches of labels to withstand cryogenic & refrigerated storage products conditions. The research also analyzes the non-refrigerated storage products segment.

North America to maintain its dominance in terms of revenue by 2030

Based on region, North America contributed to the largest market share in 2020, accounting for around two-fifths of the global pharmaceutical primary packaging label market, and is projected to maintain its dominance in terms of revenue by 2030. This is attributed to well-established healthcare system that demand proper pharmaceutical primary packaging labeling and stringent rules & regulations. However, LAMEA is projected to witness the fastest CAGR of 8.0% during the forecast period. This is due to increase in healthcare and pharmaceutical expenditure by governments in the region.

Leading market players

Avery Dennison Corporation
CCL Industries
Consolidated Label Co.
Essentra Plc.
Herma GmbH
Lintec Corporation
MCC Label
ProMach
The 3M Company
UPM

We also Offers Regional and Country Reports-

Japan Pharmaceutical Primary Packaging Label Market
South Korea Pharmaceutical Primary Packaging Label Market
Singapore Pharmaceutical Primary Packaging Label Market
China Pharmaceutical Primary Packaging Label Market
Indonesia Pharmaceutical Primary Packaging Label Market
Australia Pharmaceutical Primary Packaging Label Market
Taiwan Pharmaceutical Primary Packaging Label Market

“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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