Pharmaceutical labeling: Key market research findings
- Demand for colored labeling drives market growth
- North America dominates the market geographically
- Key vendors – 3M, Avery Dennison, Bemis, CCL Industries, Essentra, LINTEC, and SATO Holdings
Technavio’s market research analysts predict the global pharmaceutical labeling market to grow at a CAGR of more than 4% between 2016 and 2020. The increased demand for colored labeling is the primary driver for growth in the market. Color printing enables organizations to effectively market their brands to their customers. As a result, several vendors are resorting to color printing because it allows them to focus on the key points of the products, which increases the customers’ ability to retain the communication message. At present, North America dominates the global pharmaceutical labeling market by accounting for a market share of around 34%. Increased importance given to shelf appeal and standout in pharmaceutical retail outlets by the manufacturers of different consumer products is the driving force behind growth in the pharmaceutical labeling market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of pharmaceutical labeling segments based on label types.
“The latest trend in the market is the increased demand for sustainable and eco-friendly labeling. The growing environmental concern and the necessity to reduce pollution is prompting the use of resins derived from renewable resources as well as the use of recyclable materials in labeling especially plastic. As a result, vendors are focusing on increasing the investment in the development of eco-friendly labels and promoting environmental sustainability. For instance, Spear, a major label converter, is trying to connect its consumers with recycling groups that collect used-up release liners after application,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The global pressure-sensitive pharmaceutical labeling segment dominated the global pharmaceutical labeling market in 2015 by accounting for a market share of almost 72% of the overall market share. Paper, coated paper films, and plastic films are the most commonly used materials in the manufacture of pressure-sensitive labels. The major reason behind the increasing popularity and demand for pressure-sensitive labels is the numerous advantages such as convenience of use, numerous design and graphic options, and versatility. Furthermore, pressure-sensitive labels are of higher quality, can be of numerous shapes, can deliver multi-process imaging, and allow for speedy automatic dispensing, especially for premium labeling applications.
The key vendors in the market include 3M, Avery Dennison, Bemis, CCL Industries, Essentra, LINTEC, and SATO Holdings. The global pharmaceutical labeling market is highly competitive and is characterized by the presence of both well-diversified global and regional players. The vendors compete on the basis of product price, design, product innovation, product line, and quality and service. Moreover, they are investing in research and development to develop advanced packaging and labeling solutions. The competitive environment is expected to intensify with an increase in product extensions, innovations in technology, an increase in product extensions, and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Pharmaceutical Labeling Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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