A pharmaceutical label refers to a piece of paper, plastic or printed material that is used to provide instructions and product information to the consumers. It mentions the dosage instructions, expiration date, ingredients of the medicine as well as the rules and regulations that were adhered to during its manufacturing. A strategically planned pharmaceutical label assists in consistent branding, conveying critical medical data, preventing excessive regulatory penalties and creating transparent communication with the customer. In recent years, pharma companies have started using value-added labelling solutions such as labels with QR codes and RFID tags. They are also employing clear label designs to effectively communicate the product benefits to the consumers.
Market scope and Structure Analysis
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the pharmaceutical label market in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering the pharmaceutical label market.
Top Impacting Factors
The increasing demand for pharmaceutical products owing to the rising occurrence of medical issues, especially among the growing geriatric population is among the key factors driving the global pharmaceutical labeling market. The increasing incidents of medical problems have enhanced the consumption of pharmaceutical drugs, thus leading to a significant escalation in the demand for product labeling. Furthermore, design and printing advancements have enabled organizations to promote their brands effectively by focusing on the key features of the product and reach out to the target customers. Apart from this, growing environmental awareness among consumers regarding non-biodegradable material such as plastic has encouraged the use of renewable and recyclable raw materials for labeling. This trend has further led to a boost in the investments in research and development (R&D) of eco-friendly and sustainable alternatives. In addition, the introduction of inexpensive sleeve labels has also contributed to the market growth.
Market trends
- Growing healthcare expenditure and pharmaceutical industry in emerging economies is a key driver for the market.
- The pharmaceutical industry is growing at a rapid pace in emerging economies. Advanced manufacturing processes, technological innovations, and increased integration of companies have resulted in rapid growth of the industry. This growth of the pharmaceutical industry is driving the pharmaceutical label market. The growth is expected to be the highest in emerging economies such as Brazil, Russia, India, and China. Increasing income levels and growing awareness about the advantages of good healthcare systems and healthier lifestyles is supporting the growth of the market in these countries. Large population and demographics factors such as growing young population and higher life expectancy are also the key drivers of this growth.
- Rising population in various parts of the world is also helping the market expansion.
- The increasing demand for pharmaceutical products owing to the rising occurrence of medical issues, especially among the growing geriatric population is among the key factors driving the global pharmaceutical labeling market. The increasing incidents of medical problems have enhanced the consumption of pharmaceutical drugs, thus leading to a significant escalation in the demand for product labeling.
- Advancement in printing industry and global environmental awareness is bolstering the market growth.
- Design and printing advancements have enabled organizations to promote their brands effectively by focusing on the key features of the product and reach out to the target customers. Apart from this, growing environmental awareness among consumers regarding non-biodegradable material such as plastic has encouraged the use of renewable and recyclable raw materials for labeling. This trend has further led to a boost in the investments in research and development (R&D) of eco-friendly and sustainable alternatives. Additionally, the introduction of inexpensive sleeve labels has also contributed to the market growth.
Key Benefits of the Report
- This study presents the analytical depiction of the pharmaceutical label market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pharmaceutical label market share.
- The current market is quantitatively analyzed to highlight pharmaceutical label market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed pharmaceutical label market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Pharmaceutical Label Market Report
- Who are the leading market players active in the Pharmaceutical Label Market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Pharmaceutical Label Market “?
- What does " Pharmaceutical Label Market " allow organizations to achieve?
- Which technologies combine to make “Pharmaceutical Label Market “a critical organizational asset?
- What is " Pharmaceutical Label Market” Market prediction in the future?
- Who are the leading global players in the “Pharmaceutical Label Market” market?
- What are the current trends and predicted trends?
- What are the challenges faced in the " Pharmaceutical Label Market” Market?
- What are the key benefits of the “Pharmaceutical Label Market “Market report?
- What will be the anticipated growth rates for your own Pharmaceutical Label Market economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Key Market Segments
- By Type
- Pressure-Sensitive Label
- Glue-Applied Label
- Sleeve Label
- In-Mold Label
- Others
- By Application
- Instructional Label
- Decorative Label
- Functional Label
- Promotional Label
- Others
- By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Epson
- Zebra Technologies
- REMAKNET
- Godex International
- Loftware
- Brother International
- SATO
- Teledynamics
- NiceLabel
- VIPColor Technologies