by Pressure labels are adhesive labels with superior bonding and resistance to moisture and are mainly used to label healthcare equipments, drugs, food & beverages. Pressure labels offers benefits like longevity, resistance to moisture and durability which makes it suitable for labelling applications in healthcare sector like medical equipment, syringes, IV bags. The increasing usage of medical devises and growing healthcare and pharmaceutical industries globally is propelling the demand for pressure labels. The global healthcare sector is growing robustly mainly due to rising aging population, lifestyle diseases and advancements in medical technology. Growing medicalization is also indirectly fuelling the pressure labels market.
The Global Pressure Labels Market is estimated to be valued at US$ 47.88 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Pressure Labels Market Size are 3M, Abbott Laboratories, Bayer AG, Becton, Dickinson and Company, Cardinal Health, F. Hoffmann-La Roche Ltd., GE Healthcare, Gentiva Health Services, Inc., Invacare Corporation, Johnson & Johnson Services, Inc., The Linde Group, Medtronic, Inc., Omron Healthcare, Inc., AdaptHealth, Current Health, Baxter International Inc., Optum (United Healthcare), Outset Medical, and Regeneron Pharmaceuticals, Inc. The demand for pressure labels is increasing across healthcare, food & beverages and other industries due to their versatility and durability. Technological advancements are enabling pressure labels to deliver added functionality like interactive labels and sustainability.
Market Trends
Thin film pressure labels are gaining traction as they provide moisture resistance with less material usage. Also, manufacturers are focusing on sustainable pressure labels made from renewable materials like bamboo or agricultural byproducts to reduce environmental footprint. Another key trend is development of interactive pressure labels integrated with technologies like RFID and QR codes to enable traceability and analytics.
Market Opportunities
Rising healthcare spending especially in developing countries presents significant growth opportunities for pressure labels market. Also, usage of pressure labels for complex applications like medical devices will drive future demand. Growing focus on sustainable and customized pressure labels tailored as per industry requirements will create new revenue pools for market players over the coming years.
Impact of COVID-19 on Pressure Labels Market
The COVID-19 pandemic has significantly impacted the growth of the pressure labels market. The supply chain disruptions due to nationwide lockdowns and social distancing measures forced manufacturing facilities and production plants to shut down or operate at reduced capacities. This adversely affected the production volumes of pressure labels. Furthermore, reduced workforce at production sites hindered the production process. On the demand side, fall in consumption owing to closure of end-use industries like food and beverages, pharmaceuticals further negatively impacted the market growth. However, with economies gradually opening up and resumption of operations across industries, the pressure labels market is projected to witness steady growth during the forecast period. Companies are taking initiatives like development of smudge-proof, tamper-evident pressure labels to tap the opportunities arising in industries like healthcare sector. Investments in new production technologies and automation is expected to accelerate production thereby facilitating market expansion post pandemic. Focus on developing anti-counterfeiting and identity labels can drive the future growth.
Geographical Regions with Significant Presence of Pressure Labels Market
North America accounts for the largest share of the global pressure labels market in terms of value. Stringent regulations regarding product labeling and branding across industries like food, pharmaceuticals, and others drives the demand for pressure labels in the region. Europe is another prominent regional market driven by well-established consumer packaging industry. Asia Pacific is anticipated to emerge as the fastest growing market for pressure labels during the forecast period. Growth of end-use industries, increased consumer spends on packaged goods, rising standards of living power the regional market growth.
Geographical Regions Witnessing Fastest Growth in Pressure Labels Market
Asia Pacific pressure labels market is projected to exhibit fastest growth during the forecast period owing to rapid industrialization and urbanization in emerging economies of China and India. Expanding middle-class population and increased consumerism has triggered the growth of packaged food and pharmaceutical industries thereby fueling the demand for pressure labels. Furthermore, ease of doing business initiatives by governments to attract foreign investments in manufacturing sector provides impetus to regional market growth. Rising exports of packaged goods from Asia Pacific to global markets also support the projected increase in consumption of pressure labels.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
