Pharmaceutical Label Global Market Report 2024

The pharmaceutical label market 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 expansion witnessed during the historical period owes its momentum to several factors, notably stringent regulatory demands, a surge in pharmaceutical manufacturing, heightened worries about counterfeiting, a heightened focus on patient safety, and the globalization of pharmaceutical supply chains.

The pharmaceutical label market 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%. The projected growth in the upcoming period is poised to stem from several factors, including the increased utilization of smart labels, a burgeoning acceptance of sustainable labeling approaches, a heightened emphasis on patient-centered packaging, the need for tamper-proof labels, the widening scope of personalized medicine, and the incorporation of track-and-trace systems.

The proliferation of counterfeit medications poses a substantial impediment to the expansion of the pharmaceutical label market. Counterfeit medications are deceptive or falsified pharmaceutical products deliberately mislabeled or misrepresented. Pharmaceutical labels play a pivotal role in combating counterfeit medications, incorporating essential features such as tamper-evident elements, unique serial numbers, barcodes, and anti-counterfeiting technologies. These measures are crucial for ensuring product authenticity and protecting public health. For instance, in December 2021, the Drug Enforcement Administration (DEA), a federal agency in the United States, reported the seizure of 9.5 million counterfeit pills between April 2020 and April 2021. This quantity exceeded the combined figures of the preceding two years. This surge is identified as a potential contributing factor to the 100,306 drug overdose deaths in the U.S. during that specific period. Consequently, the ascent of counterfeit medications stands as a hindrance to the growth trajectory of the pharmaceutical label market.

The burgeoning pharmaceutical industry is expected to be a significant catalyst for the burgeoning pharmaceutical label market. This sector encompasses the discovery, development, production, and marketing of drugs used as medications to treat, prevent, or alleviate diseases. Labels serve as vital tools for tracking and tracing pharmaceutical products across the supply chain, ensuring their timely delivery and mitigating the risk of counterfeit goods infiltrating the market. In 2021, the US pharmaceutical industry, as per the Centers for Medicare and Medicaid Services, exhibited substantial growth, recording sales of $4.3 trillion, signifying a 2.7% increase from the previous year. Thus, the surge in the pharmaceutical industry plays a pivotal role in propelling the growth of the pharmaceutical label market.

Innovative product developments represent a prevailing trend gaining traction within the pharmaceutical label market. Companies operating in this domain are embracing innovation to fortify their market standing. Schreiner Group, in October 2022, unveiled Pharma-Tac hanger label and Autoinjector-label, sustainable functional labels designed with recycled or renewable film materials. These labels feature removable documentation parts and anti-slip functionality, having undergone rigorous testing for performance using load, gravitational, adhesion, and ink adhesion trials to validate the efficacy of sustainable materials.

Major players in the pharmaceutical labeling market are pioneering innovative products such as AD XeroLinr DT to bolster sustainability and efficiency. AD XeroLinr DT, launched by Avery Dennison in March 2023, serves as a sustainable, linerless alternative for variable information labels. This innovation aims to streamline logistics time and costs while setting benchmarks for innovation, sustainability, and regeneration within the supply chain. AD XeroLinr DT guarantees heightened productivity, sustainability, and safety, maintaining the high performance and quality associated with Avery Dennison. The product's design prioritizes waste reduction and material efficiency, offering an effective, high-performing, and sustainable solution for variable information applications. Its FSC certification and phenol-free composition align with the company's commitment to advancing sustainability in the packaging industry, reflecting Avery Dennison's dedication to pioneering innovative and sustainable labeling solutions.

In October 2022, Resource Label Group LLC, a prominent US-based provider of custom label and printing services, completed the acquisition of MedLit Solutions for an undisclosed sum. This strategic move aims to significantly expand and diversify Resource Label Group LLC's capabilities. By integrating MedLit Solutions' expertise in design, printing, labels, and comprehensive custom kitting and mailing solutions, Resource Label Group LLC enhances its service portfolio. MedLit Solutions, a respected US-based company specializing in custom printing and packaging services, aligns well with Resource Label Group LLC's objectives and is expected to contribute substantially to its offerings.

Major companies operating in the pharmaceutical label market report are 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.

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. The countries covered in the pharmaceutical label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Primary types of pharmaceutical labels include pressure-sensitive, glue-applied, sleeve, in-mold labels, among others. Pressure-sensitive labels, employed in pharmaceutical, consumer goods, and similar packaging, utilize materials such as paper, polymer film, and more for instructional, decorative, functional, or promotional purposes. These labels cater to various end uses such as bottles, blister packs, parenteral containers, pre-fillable syringes, inhalers, pouches, and similar applications.

The pharmaceutical label market research report provides pharmaceutical label market statistics, including pharmaceutical label industry global market size, regional shares, competitors with a pharmaceutical label market share, detailed pharmaceutical label market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical label industry. This pharmaceutical label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pharmaceutical label market consists of sales of drug facts labels and professional labeling. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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