Pressure labels are used on various medical devices and pharmaceutical products to provide critical product and safety information to users. They are highly durable and designed to withstand harsh environmental conditions while providing crucial information like expiration dates, precautions, compositions etc. The growing pharmaceutical and medical devices industry has augmented the demand for pressure labels extensively.
The Global Pressure Labels Market is estimated to be valued at US$ 47.88 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Pressure Labels are 3M, Abbott Laboratories, Bayer AG, Becton, and Company, Cardinal Health, F. Hoffmann-La Roche Ltd., GE Healthcare, Gentiva Health Services, Inc., Invacare Corporation, Johnson & Johnson Services, Inc., The Linde Group, Medtronic, Inc., Omron Healthcare, Inc., AdaptHealth, Current Health, Baxter International Inc., Optum (United Healthcare), Outset Medical, and Regeneron Pharmaceuticals, Inc.
The growing pharmaceutical industry is offering ample growth opportunities for players in the pressure labels market. The increasing investments in research and development of novel drugs is expected to drive the demand for pressure labels.
North America dominated the global pressure labels market in 2020. However, Asia Pacific is expected witness the fastest growth over the forecast period owing to growing healthcare infrastructure and increasing generic drug production in the region.
Market drivers
The growing demand from the pharmaceutical industry remains the major driver for pressure labels market. The stringent regulations regarding product labeling and information of drugs and medical devices has ensured sustained demand over the years. Moreover, increasing prevalence of chronic diseases is driving the drug production which in turn is augmenting the need for pressure labels in the pharmaceutical sector. Additionally, technological advancements in label application equipment have improved production efficiency further driving the market growth.
PEST Analysis
Political: Pressure Labels Market Size are regulated by food and drug agencies around the world to ensure accurate labelling for ingredients, expiration dates, and nutritional information. Changes in labeling laws could impact demand.
Economic: Pressure label usage strongly correlates with economic growth in manufacturing and healthcare industries. Recessions may decrease demand from pharmaceutical and F&B sectors. High inflation could raise material costs.
Social: Growing public awareness about food safety and expiration dates boosts label usage. Aging populations increase needs for medical devices needing accurate labels. Health conscious consumers demand precise ingredient lists.
Technological: Advances in digital printing, materials science and barcode/RFID technologies improve label functionality. Smart labels with sensors and connectivity are areas of potential growth. New printing methods reduce costs.
Geographical Regions of Concentration
North America accounts for the largest share of the global pressure labels market both in terms of value and volume. Stringent regulatory standards regarding product labeling in the US and Canada as well as large healthcare, pharmaceutical and food industries drive demand. Western Europe is the second largest market led by countries like Germany, UK and France with mature manufacturing sectors.
Fastest Growing Region
Asia Pacific region is poised to be the fastest growing market for pressure labels over the forecast period. This is due to rising incomes, increasing health awareness, growing urbanization and manufacturing industry expansion especially in populous nations like China and India. Multinational companies are further expanding operations in the region augmenting demand. Demand for consumer goods and healthcare will propel the APAC pressure labels market.
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