What is pharmaceutical primary packaging label?
The term “pharmaceutical primary packaging label” refers to all the printed information found on the primary packaging of any over-the-counter medicine or prescription drug.
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.
According to the report published by Allied Market Research, the global pharmaceutical primary packaging label market size was valued at $2.37 billion in 2020 and is projected to reach $4.76 billion by 2030 registering a CAGR of 7.20% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, 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 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.
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.
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.
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Leading market players
- Avery Dennison Corporation
- CCL Industries
- Consolidated Label Co.
- Essentra Plc.
- Herma GmbH
- Lintec Corporation
- MCC Label
- The 3M Company
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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