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.
CAGR: 7.2%
Current Market Size: USD 2.37 Billion
Fastest Growing Region: APAC
Largest Market: North America
Projection Time: 2021 – 2030
Base Year: 2020
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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.
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.
Pharmaceutical product labeling is a highly regulated process and plays a significant role in driving product approvals and maintaining data quality and safety. Each labeling leaflet includes important product information such as brand/drug name, manufacturer name and address, batch/lot number, product description details, active & inactive ingredients, indications, safety information, usage instructions, storage conditions, and expiration date. The pharmaceutical primary packaging labels are not just an important way to make customers aware of specific formulations of a product, however also protects them from incorrect usage of formulations.
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.
Leading market players
- Avery Dennison Corporation
- CCL Industries
- Consolidated Label Co.
- Essentra Plc.
- Herma GmbH
- Lintec Corporation
- MCC Label
- ProMach
- The 3M Company
- UPM
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