New York, NY, March 25, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Medical Device Labeling Market by Label Type (Glue-Applied Labels, Pressure-Sensitive Labels, In-Mold Labels, Sleeve Labels, and Others), by Material Type (Plastic, Paper, and Others), and by Application (Monitoring & Diagnostic Equipment, Disposable Consumables, and Therapeutic Equipment): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global medical device labeling market was valued at approximately USD 743 million in 2018 and is expected to generate around USD 1,124 million by 2025, at a CAGR of around 6.1% between 2019 and 2025.
Increasing complications of medical devices have forced various device manufacturers to communicate important device-related information to the customers. This is the major factor that is driving the global medical device labeling market over the estimated timeframe. Various manufacturers make use of medical device labeling to offer a general description of medical devices alongside other vital information. The growing number of technologically updated medical devices and drug discoveries are likely to further this market.
Browse through 54 Tables & 23 Figures spread over 110 Pages and in-depth TOC on “Global Medical Device Labeling Market: By Type, Industry Size, Share, Segments, Analysis and Forecast 2018–2025”.
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The increasing implementation of FDA standards for patient safety is the foremost factor expected to propel the global medical device labeling market over the forecast time period. Stringent policies associated with the standards of patient security and safety by the FDA and medical device manufacturers’ shifting focus on various labeling methods are projected to fuel the global medical device labeling market in the future. The flourishing healthcare and pharmaceutical sector is also expected to positively influence the global medical device labeling market.
Based on label type, the medical device labeling market is segmented into glue-applied labels, pressure-sensitive labels, in-mold labels, sleeve labels, and others. Pressure sensitive labels contributed a major revenue share to the global medical device labeling market in 2018, owing to the growing technological advancements. Additionally, pressure-sensitive labels are highly versatile in nature that can be seen on a variety of products. They are high-tech stickers that are available in the form of rolls or sheets. By material type, the market is segmented into plastic, paper, and others. The paper segment is expected to hold a major market share in the future, owing to its easy availability and its extensive use by the manufacturers. By application, the medical device labeling market is segmented into monitoring and diagnostic equipment, disposable consumables, and therapeutic equipment. Disposable consumables held a major market share in 2018.
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North America contributed the highest revenue share in 2018 in the global medical device labeling market, due to the stringent regulations implemented by the regulatory bodies, such as the U.S. FDA, along with highly developed healthcare infrastructure and huge investments made in the R&D activities across the region.
Europe held the largest share of the global medical device labeling market in 2018, due to the growing health-conscious population and increasing patient pool in the region. The increase in the demand for medical device labeling will further propel this regional market’s growth in the years ahead. The European Commission of EU is responsible for regulating the use of medical devices through the Medical Device Directive, 93/42/EEC, where the member states are required to follow the directives of EU with modifications as per relevant rules and obligations.
Browse the full “Medical Device Labeling Market by Label Type (Glue-Applied Labels, Pressure-Sensitive Labels, In-Mold Labels, Sleeve Labels, and Others), by Material Type (Plastic, Paper, and Others), and by Application (Monitoring & Diagnostic Equipment, Disposable Consumables, and Therapeutic Equipment): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/medical-device-labeling-market
The Asia Pacific medical device labeling market is anticipated to grow at the highest rate over the forecast timeline. This regional growth will be mostly witnessed in China, Japan, and India, owing to the rising government initiatives to increase awareness levels about the safe use of medical devices for patient security. The CDSCO, a department of Government of India, regulates medical devices under the Central License Approval Authority scheme (CLAA).
The Latin American medical device labeling market is set to register significant growth over the forecast time period, owing to the escalating number of consumers of medical devices and a huge patient population in the region. The Middle Eastern and African market is foreseen to experience lucrative market growth in the future. Gulf Cooperation Council (GCC) is undergoing a rapid increase in terms of its population and healthcare expenditure, which, in turn, is expected to drive the region’s medical device labeling market over the forecast timeline. Moreover, developing healthcare infrastructure and a large number of health insurance facilities are expected to further fuel the medical device labeling market across the region over the review time period.
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Some players of the global medical device labeling market are Avery Dennison Corporation, Amcor Limited, Huhtamaki Oyj, 3M Company, Weber Packaging Solutions, Inc., Mondi Group, Lintec Corporation, UPM Raflatac, Denny Bros Ltd., Resource Label Group LLC, CCL Industries Inc., Schreiner Group GmbH & Co. KG, WS Packaging Group, Inc., Coast Label Company, Tapecon Inc., JH Bertrand Inc., Faubel & Co., and Label Source.
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This report segments the global medical device labeling market into:
Global Medical Device Labeling Market: Label Type Analysis
- Glue-Applied Labels
- Pressure-Sensitive Labels
- In-Mold Labels
- Sleeve Labels
- Others
Global Medical Device Labeling Market: Material Type Analysis
- Plastic
- Paper
- Others
Global Medical Device Labeling Market: Application Analysis
- Monitoring and Diagnostic Equipment
- Disposable Consumables
- Therapeutic Equipment
Global Medical Device Labeling Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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