Global Pharmaceutical Label Market Size 2024, Forecast To 2033
6 Mar, 2024
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%. 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.
Global Pharmaceutical Label Market Key Driver
The proliferation of pharmaceutical drugs is anticipated to fuel the growth of the pharmaceutical label market. The increasing prevalence of diseases and higher pharmaceutical drug consumption contribute to the demand for pharmaceutical labels, which provide crucial information about drugs. As per the IQVIA report, "The Global Use of Medicines 2022," approximately 300 new drugs are expected to be launched by 2026, representing a substantial increase compared to the past decade. This heightened consumption of pharmaceutical drugs serves as a catalyst for the expansion of the pharmaceutical label market. To comprehend the trajectory of this market, it is crucial to examine the market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Pharmaceutical Label Market ReportGlobal Pharmaceutical Label Market Segments
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
By Geography:The regions covered in the pharmaceutical label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the pharmaceutical label market in 2023. The regions covered in the pharmaceutical label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Pharmaceutical Label Industry Players
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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Pharmaceutical Label Market Overview
The pharmaceutical label is written or printed information attached to a medication or drug product that provides important information about the drug such as expiration dates, usage instructions, and ingredient lists.
Pharmaceutical Label Global Market Report 2023 provides data on the global pharmaceutical label market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pharmaceutical label market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.