Pharmaceutical Primary Packaging Label Market Summary
Pharmaceutical packaging involves the process of securely enclosing pharmaceutical products in suitable containers to protect them from external elements such as light, moisture, and contamination. It encompasses the design, development, and production of packaging materials and systems tailored to the specific requirements of medications. Pharmaceutical packaging ensures the integrity, stability, and safety of drugs throughout their lifecycle, from manufacturing to distribution and use by patients, while also facilitating dosing accuracy, regulatory compliance, and patient convenience.
According to the report, the global pharmaceutical primary packaging label market generated $2.37 billion in 2020, and is expected to reach $4.76 billion by 2030, witnessing a CAGR of 7.2% from 2021 to 2030.
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Prime determinants of growth
Increase in cases of counterfeiting, surge in manufacturing of recyclable and biodegradable label products, and adoption of expanded content label design drive the growth of the global pharmaceutical primary packaging label market. However, stringent government regulations and standards restrain the market growth. On the other hand, usage of smart labeling for patient engagement and identification create new opportunities in the coming years.
The film segment to maintain its leadership status during the forecast period
Based on face material, the film segment accounted for the highest share in 2020, contributing to more than three-fifths of the global pharmaceutical primary packaging label market, and is estimated to maintain its leadership status during the forecast period. This is due to their durability, moisture resistance, and end-to-end sealing properties. However, the paper segment is expected to portray the highest CAGR of 7.3% from 2021 to 2030. This is due to advantages of paper label such as high image quality and clarity as well as excellent adherence of ink to the paper to provide details in a printed picture.
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The cryogenic and refrigerated storage products segment to maintain its lead position by 2030
Based on storage type, the cryogenic and refrigerated storage products segment held the highest share in 2020, accounting for more than half of the global pharmaceutical primary packaging label market, and is projected to maintain its lead position throughout the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 7.4% from 2021 to 2030. This is due to rise in number of products that need refrigeration and new launches of labels to withstand cryogenic & refrigerated storage products conditions. The research also analyzes the non-refrigerated storage products segment.
North America to maintain its dominance in terms of revenue by 2030
Based on region, North America contributed to the largest market share in 2020, accounting for around two-fifths of the global pharmaceutical primary packaging label market, and is projected to maintain its dominance in terms of revenue by 2030. This is attributed to well-established healthcare system that demand proper pharmaceutical primary packaging labeling and stringent rules & regulations. However, LAMEA is projected to witness the fastest CAGR of 8.0% during the forecast period. This is due to increase in healthcare and pharmaceutical expenditure by governments in the region.
Leading market players:
Avery Dennison Corporation
CCL Industries
Consolidated Label Co.
Essentra Plc.
Herma GmbH
Lintec Corporation
MCC Label
ProMach
The 3M Company
UPM
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