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Pharmaceutical Primary Packaging Label Market Expected to Reach $4.76 Billion by 2030 | CAGR of 7.20%

 

Report Code : A15417

quote 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. quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

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According to a new report published by Allied Market Research, titled, Pharmaceutical Primary Packaging Label, by Primary Packaging Containers, Face Material, Adhesive Technology Type, Storage Type: Global Opportunity Analysis and Industry Forecast, 2021–2030," 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.

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.

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.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The COVID-19 pandemic has helped the industry to grow significantly, owing to increase in demand for pharmaceutical products such as antibiotics & antiviral drugs and COVID-19 vaccines, which also increases demand for pharmaceutical primary packaging labels. This supports the pharmaceutical primary packaging label market to gain traction during the forecast period.

The global pharmaceutical primary packaging label market is segmented on the basis of primary packaging containers, face material, adhesive technology type, storage type, and region. By primary packaging containers, it is bifurcated into prescription primary containers and OTC primary containers.

The prescription primary containers segment is divided into syringe, ampoules, vials, infusion bottles, and others, which include cartridges and blisters. The prescription primary containers segment was the major shareholder in 2020, owing to increase in adoption of prescription primary container labels to promote patient understanding and prevent medication misuse, non-adherence, and medication errors.

By face material, it is segmented into paper and film. The film segment is further divided into polyethylene, polypropylene, and others, which include COEX plastic packaging, and polyester. The film segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to their durability and moisture resistance and end-to-end sealing properties.

By adhesive technology type, it is segmented into solvent acrylic, hotmelt rubber, water base emulsion acrylic, and UV curable. The solvent acrylic segment acquired the largest share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to their high resistance to a number of environmental factors and their suitability to different substrates.

By storage type, it is segmented into cryogenic & refrigerated storage products and non-refrigerated storage products. cryogenic & refrigerated storage products again segmented into refrigerated (-50° Celsius), deep freeze (-80° Celsius), and cryogenic (-196° Celsius). The cryogenic & refrigerated storage products segment acquired the largest share in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to the factors such as increase in products that need to be refrigerated as well as new launches of labels to withstand cryogenic & refrigerated storage products conditions.

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.  

North America accounted for the largest share of the global pharmaceutical primary packaging label market in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to well-established healthcare system demanding proper pharmaceutical primary packaging labelling and stringent rules & regulations related to pharmaceutical primary packaging labelling.

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quote Pharmaceutical Primary Packaging Label Market by Primary Packaging Containers (Prescription Primary Containers and OTC Primary Containers), Face Material (Paper and Film), Adhesive Technology Type (Solvent Acrylic, Hotmelt Rubber, Water Base Emulsion Acrylic, and UV Curable) and Storage Type (Cryogenic & Refrigerated Storage Products and Non-Refrigerated Storage Products): Global Opportunity Analysis and Industry Forecast 2021–2030. quote

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