Medical Device Labeling Market is valued at USD 800.55 Million in 2021 and expected to reach USD 1193.44 Million by 2028 with a CAGR of 5.87% over the forecast period.
Increasing adoption of home healthcare medical devices and stringent FDA regulations are the key growth factors for the Global Market.
Medical devices play a very significant role in the delivery of several health care services. Medical devices are items that are used for the diagnosis of cure, treatment or prevention of disease and mitigation. Manufacturers of medical devices face number of challenges in delivering their products to domestic and international markets. Labeling is used to communicate safety and performance related information to the users of medical devices and identify individual devices as well as to patients. Medical device labeling includes, package labels, directions for use, maintenance manuals, equipment labels, control labels etc. Labeling is important in identifying the medical device and specifying instructions for proper use of medical devices. Mislabeling of medical devices can result in serious consequences for the user and individual. Cautions and clear instructions or hazard warnings for use are very important.
Medical device labeling market is segmented on the basis of label type, material, application and region. Based upon label type, market is segmented into pressure sensitive labels, glue applied labels, sleeve labels, in mold labels and others. Based upon material, the medical device labeling market is segmented as paper, plastics and others. Based upon application, the medical device labeling market is segmented in to disposable consumables, monitoring diagnostic equipment, and therapeutic equipment.
The regions covered in this medical device labeling market report are North America, Asia-Pacific and Rest of the World. On the basis of country level, market of medical device labeling market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global medical device labeling market has shown a lucrative growth in the last few years and expected to continue the same within the forecast period owing to the stringent FDA regulations in this field coupled with the growing home healthcare medical devices. The global revenue of the home healthcare device and service market is projected to grow around 12.6 billion U.S. dollars by 2018. So, the increasing adoption of home healthcare medical devices is anticipated to drive the growth of medical device labeling market within the forecast period. Growing medical device industry is one of the key driving factors for the global medical device labeling market. Medical device industry has been highly attractive with 5% annual growth and relatively stable for decades. Increasing number of hospitals and the increased requirement for healthcare facilities creates a need for sophisticated devices, which can offer perfect treatment to patients. Creation of discord and confusion due to the absence of common global regulatory system is restraining the global medical device labeling market. Due to the absence of common universal regulatory system for medical devices there are different regulation criteria in different countries which in turn results in confusion among medical device label manufacturers on global level in regards to how to clear the regulations. Acceptance of UDI (Unique Device Identification) in medical device labeling is expected to accelerate the growth of the medical device labeling market in the forecast period. The FDA has established and continues to implement a unique device identification system to effectively identify medical devices through their distribution and use.
North America holds the largest market share of global medical device labeling market due to stringent regulations like unique device identification (UDI) labeling and other regulations implemented by the regulatory bodies, such as the U.S. FDA. In addition, highly developed healthcare infrastructure and huge investments in the R&D activities regarding medical devices are also expected to supplement the growth of medical device labeling market in this region over the forecast period. Europe is holding the second largest market share of medical device labeling market. Whereas, CE marking indicates that medical device complies with the European regulations and enables the distribution of labeling products in 32 European countries.The healthcare expenditure in Europe is USD 1,856 billion and accounted for 10% of GDP in 2014.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 800.55 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||5.87%|
|Market Size Expected in 2028:||USD 1193.44 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||3M Company, Amcor Limited, Mondi Group Plc, Avery Dennison Corporation, Lintec Corporation, Huhtamaki Oyj, UPM Raflatac, CCL Industries Inc, Schreiner Group GmbH & Co. KG, Denny Bros Ltd|
|Segments Covered||By Label Type, By Material, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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