The global pharmaceutical label market is expected to grow from $5.88 billion in 2022 to $6.34 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmaceutical label market is expected to reach $8.45 billion in 2027 at a CAGR of 7.4%.

The pharmaceutical label market consists of sales of drug facts labels and professional labeling.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The pharmaceutical label is written or printed information attached to a medication or drug product that provides important information about the drug such as expiration dates, usage instructions, and ingredient lists.

North America was the largest region in the pharmaceutical label market in 2022. The regions covered in the pharmaceutical label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main pharmaceutical label types are pressure-sensitive label, glue-applied label, sleeve label, in-mold label and others.The pressure-sensitive label refers to a type of label used in the packaging of pharmaceuticals, consumer products, and other items.

The various materials are paper, polymer film, and others that are used for instructional label, decorative label, functional label, promotional label, and others. The various end uses are bottles, blister packs, parenteral containers, pre-fillable syringes, pre-fillable inhalers, pouches and others.

The increasing launch of pharmaceutical drugs is expected to propel the growth of the pharmaceutical label market going forward.The high prevalence of diseases and enhanced consumption of pharmaceutical drugs create demand for pharmaceutical labels.

The pharmaceutical label helps in the understanding of important information about drugs.For instance, according to a report, The Global Use of Medicines 2022 published by IQVIA, a US-based provider of biopharmaceutical development and commercial outsourcing services, about 300 new drugs will be launched by 2026, an increase from the past decade.

Therefore, the enhanced consumption of pharmaceutical drugs is driving the pharmaceutical label market.

Product innovations are the key trends gaining popularity in the pharmaceutical label market.Companies operating in the pharmaceutical label market are adopting innovative products to sustain their position in the market.

For instance, in October 2022, Schreiner Group, a Germany-based healthcare labeling specialist, launched Pharma-Tac hanger label and Autoinjector-label, sustainable functional labels.They are uniquely designed with film materials that are recycled or produced from renewable raw materials with removable documentation parts and anti-slip functionality.

To demonstrate the performance of sustainable materials the labels went under a series of extensive tests like load and gravitational trials and testing for adhesion and ink adhesion.

In October 2022, Resource Label Group LLC., a US-based custom label, and printing services company acquired of MedLit Solutions for an undisclosed amount. This acquisition will broaden, diversifies, and enriches Resource Label Group LLC by adding design, printing, labels, and turn-key custom kitting and mailing solutions of MedLit Solutions. MedLit Solutions is a US-based custom printing and packaging service provider company.

The countries covered in the pharmaceutical label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The pharmaceutical label market research report is one of a series of new reports that provides pharmaceutical label market statistics, including pharmaceutical label industry global market size, regional shares, competitors with a pharmaceutical label market share, detailed pharmaceutical label market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical label industry. This pharmaceutical label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.