Published on : Apr 26, 2018
Albany, New York, April 26, 2018: Globally, medical device and drug manufacturers are required to get clearance from the Food and Drug Administration (FDA) prior to marketing their product to the public. These devices can range from everything between a thermometer and a pacemaker. In recent times, rising number of new medical devices and drug discoveries are some of the prominent factors which lead to an increase in the demand for medical device labeling. Market Research Hub (MRH) has publicized a study titled “Medical Device Labeling Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” to its online repository, which offers important insights on the recent market trends and impact of innovative technology on the medical device labeling industry. The report comprises the forecast analysis of the global revenue generated by sales of medical device label across the retail industry.
Growing awareness regarding FDA standards helps in the growth of the medical device labeling market. Labeling helps to ensure the effectiveness and safety of a device. Increasing globalization and cross-border trade is currently major trend impacting market growth. Due to the labeling with multi-language instructions, manufacturers can easily trace their product for documentation and efficient distribution. According to the recent findings, with significant growth in the healthcare and pharmaceutical industry, medical device labeling market is expected to witness exponential growth in the coming years.
In order to understand the geographical expansion, the study highlights market scenario in some prime regions including North America, Middle East & Africa (MEA), Latin America, Europe and Asia Pacific (APAC). Further, Global market numbers by label type, by material type, and by the application have been derived using the bottom-up approach, which is cumulative of each country’s demand for medical device labeling. From a geographical analysis, the research finds that North America is estimated to account for the largest share in medical device labeling market due to high investment on research and development in the medical sector in this region.
Based on market segmentation, the research finds that on the basis of label type, medical device labeling market is segmented into pressure sensitive labels, glue-applied labels, sleeve labels, in mold labels, and others. By material type, it covers paper, plastic and others. On the other hand, major applications are Disposable Consumables, Monitoring & Diagnostic Equipment and Therapeutic Equipment. Of them, disposable consumables segment is anticipated to be the maximum contributor to the global medical device labeling market, over the mentioned forecast period.
In the final section of the report, medical device labeling market competitive landscape has been included to provide a dashboard view of companies. Some of the key companies in the global medical device labeling market include 3M Company, Mondi Group Plc, Weber Packaging Solutions, Inc., Avery Dennison Corporation, Lintec Corporation, Huhtamaki Oyj, UPM Raflatac, Faubel & Co.Nachf. GmbH, CCL Industries Inc, Coast Label Company, Schreiner Group GmbH & Co. KG, Amcor Limited, Denny Bros Ltd., WS Packaging Group, Inc, Resource Label Group LLC, Tapecon Inc., JH Bertrand Inc., and Label Source.
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