Syringe Labels Market
Market Insights on Syringe Labels covering sales outlook, demand forecast & up-to-date key trends
Syringe Labels Market By Material (Paper, Polyester, Synthetic), End-Use (Pharmaceutical Company, Hospital, Laboratories, Clinics, Research Organization, Others) & Region - Forecast 2021 - 2031
Syringe Labels Market Overview
As per the latest industry survey conducted by Future Market Insights, the demand for syringe labels is expected to witness growth at 10%-11% CAGR between 2021 and 2031, due to the exponential rise in demand for pharmaceutical supplies, including syringes. The sales of syringe labels are projected to reach billions of units over the upcoming decade.
Syringe Labels Market: Market Overview
The innovation-driven pharmaceutical industry has come up with various lifesaving drugs and vaccines, resulting in increased life expectancy rates across the globe. For efficient delivery of drugs, the proper packaging and labelling products allow proper identification and dosage instructions about the usage.
The packaging industry has developed a variety of syringe labels for overcoming the disadvantages of using the syringes without any labels or proper identification tags on them. syringe labels are made up of paper, polyester or synthetic materials and used as a tag on the syringe making it easy for a medical practitioner to identify the syringe or its contents for proper utilization of drugs and vaccines through it.
Growing worldwide awareness regarding proper labelling and packaging of medicinal supplies has resulted in increased worldwide popularity of syringe labels as a best-suited label for syringes used across all types of healthcare facilities. Over the years the demand for syringe labels is expected to rise and indicates an expansion of the global syringe label market.
What Drives Demand For Syringe Labels Across The Globe?
The exponential rise in demand for pharmaceutical supplies across the globe, as a result of the increased geriatric population and rising number of healthcare facilities across the globe, fuels the demand for syringes and eventually increases the need for syringe labels as a perfect drug identification label.
Strict regulatory laws regarding the labelling of syringes containing drug dosages are made, to prevent the loss of lives that occurred due to improper administration of syringes filled with dosages and to prevent the patients from further injuries due to mistakes made by medical practitioners.
Alarming situations such as hundreds of people losing their lives due to improper administration of drugs and millions suffering from injuries boosts the global demand for syringe labels.
The rising geriatric population and patients suffering from chronic diseases such as diabetes, heart diseases and various autoimmune diseases, resulting in increased consumption of self-medication and high consumption of prefilled syringes across the regions, propel the demand for syringe labels to avoid any chances of improper dosage of any type of medicinal drugs.
What Hampers The Potential Market Growth of Syringe Labels Market?
Non-uniformity of the units of drugs stored in the syringe leads to improper labelling in the handwritten syringe labels causes thousands of lives each year, as the person who was filled the syringe might have labelled it in milligram or microgram, but some drugs are labelled in ratios which causes ambiguity and confusion in the mind of the medical practitioner delivering the drug to the final patient.
Thus, the drawbacks of handwritten plain labels are expected to hamper the potential growth of the global syringe labels market.
The expensive production process of these syringe labels increases the overall cost of production of the prefilled syringes, syringes and acts as an extra overhead cost to the medical facilities. Though these limitations have a very little negative impact on overall sales of syringe labels but have a long term impact on the global syringe labels market.
Which Profitable Growth Opportunities & Trends Can Result in Expansion of Global Syringe Labels Market?
The manufacturers of syringe labels are targeting developing regions of the world, where the healthcare infrastructure is witnessing a tremendous growth rate and penetrating these regions to expand their client base and monetize on the lucrative growth opportunities offered by these regions.
Attractive looking packaging and labels are gaining traction across all end-user industries, in pharmaceutical sectors the labels with different colours are often used to differentiate among the drug types stored in the syringes, which offer easy identification of drugs and eliminates chances of improper dosages to the patients.
Digitally printed labelling products are adapted by international healthcare chains having medicinal facilities across the globe, to avoid any confusion during the drug administration and proper storage and transportation of drugs as and when required.
The digitally pre-printed syringe labels of different sizes are available for all types of syringes from small to large and facilitate proper identification of drugs. The increased worldwide popularity of digitally printed labels indicates growth opportunities for key manufacturers of syringe labels across the globe.
Key Market Players of Syringe Label Market
- Hospicode Limited
- Avery Dennison Corporation
- Essentra plc
- Multi-Color Corporation
- United Ad Label
- Nordvalls Etikett AB
- Schreiner MediPharm
Key Market Players in Asia-Pacific Region of Syringe Label Market
- IWATA LABEL Co., Ltd.
- Shenzhen Ruilisibo Technology Co., Ltd.
- Hang Shing Label Printing Product Co. Ltd
Why The U.S. is An Important Market for Syringe Labels?
The presence of key global manufacturers of syringe labels, as the U.S is home to pharmaceutical giants of the world, making it the most important market for the syringe labels.
The advanced healthcare system in the country and strict laws regarding the labelling of all types of pharmaceutical supplies making it mandatory for all healthcare facilities to use syringe labels for eliminating any possibility of an accident during the administration of the drug.
The syringe label market in the U.S. is divided between a global leader and several medium and small-sized label makers, trying to increase their market share by offering high-grade labels, labels offering printability on both sides and a variety of customized options in syringe labels.
Moreover, the high growth of advanced medicinal drugs and increased population preferring self-medication makes the U.S. an important market for syringe labels.
Why High Growth Offering Markets For Syringe Labels?
Fast-paced development witnessed by the healthcare sector in the country, along with an increased number of people choosing advanced medicinal drugs for the cure of the diseases and growing number of clinics, healthcare centres and government healthcare facilities makes India the second-largest market for syringe labels.
Availability of cheaper raw materials and adoption of advanced production technologies makes China a leading market for syringe labels, global manufacturers are planning to expand their production capabilities in China to cater for the fast-growing demand for syringe labels across the globe.
The presence of several small and medium-sized manufacturers of syringe label producers in the country indicates towards future expansion of the syringe label market in the country.
How Covid-19 Impacted Global Syringe Labels Market?
As a result of the outbreak of the deadly Covid-19 pandemic, the production and supply chain for all types of goods barring food & beverages and pharmaceutical supplies was disrupted, due to lockdown imposed by various Governing authorities across the globe.
The demand for pharmaceutical supplies witnessed an all-time high, due to the rise in demand for life-saving drugs, vaccines and syringes to properly administrate all those drugs, eventually, it resulted in an exponential rise in demand for syringe labels in all parts of the world.
Thus, after the pandemic ends the increased adaption and benefits offered by syringe labels are anticipated to result in the development of the global syringe labels market.
Global Syringe Label Market Segmentation
Segmentation Based on Material:
Segmentation Based on Size:
- 12 x 15 mm
- 13 x 80 mm
- 50 x 30 mm
- 100 x 40 mm
Segmentation Based on End-Use:
- Pharmaceutical Company
- Research Organization
Segmentation Based on Region:
- North America
- Latin America
- South Asia
- East Asia
- The Middle East and Africa