Bizizz Market Research has recently published a research report, “By Type (Pressure-sensitive labels, Glue applied labels, Sleeve labels, In-Mold label and Other), Material(Paper, Plastic and Others), Application (Disposable consumables, Monitoring & Diagnostic Equipment and Therapeutic Equipment), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Medical Device labeling Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1406.1 Bn by 2027, witnessing a CAGR of 6.5 % during the forecast period. Key drivers of the market are increasing health care institutions along with raising patients globally are supporting its market growth.
Increased growing adoption of home health medical equipment is propelling the growth of market. The medical device sector has been significantly growing at an annual growth rate of 5% and has been constant. An increased number of healthcare institutions is creating the need for technologically advanced medical equipment’s could offer patients with a substantial treatment. Increased discord and doubt by the lack of common global regulatory systems restricts the global market for medical device labeling. Raising contribution of the government in the medical equipment’s with regulatory policies is encouraging the demand for medical device labeling globally according to the respective policies.
The Medical Device labeling market is anticipated to register a CAGR of over 6.5% during the forecast period.
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By material, Plastic segment held a key share in Global Medical Device labeling Market in 2018.
The medical device labeling market is evidently being leading by the plastic segment in the global market by its different advantages offered through the material. The plastic experiences are consistent in demand for medical device packaging solutions because of key benefits associated with these includes competitive prices, lightweight, durability and tear resistance in comparison to other substitutes available in the market. Key players also in the industries do prefer plastic-based medical device labels because of its various advantages to the end-users..
North America is Anticipated to Dominate the Global Medical Device labeling Market during the Forecast Period.
The North American region is leading market share globally for medical device labeling due to strict legislation including the Unique Device Identification (UDI) labeling and other rules enacted by regulatory bodies in this regions. Highly developed healthcare infrastructure and coupled with large investments in R&D activities are propelling the medical devices market and anticipated to grow parallel to the healthcare institutions that are supporting the libeling’s market in North American region during the forecast period.
Global Medical Device labeling market was moderately consolidated with key players accounting for significant share in 2018. The medical device labeling manufacturers are substantiating the market growth by expanding their market presence through investments and partnerships.
Prominent players operating in the Global Medical Device labeling Market are: UPM Raflatac, 3M Company, Amcor Limited, Mondi Group Plc, Huhtamaki Oyj, Avery Dennison Corporation, Lintec Corporation, CCL Industries Inc, Schreiner Group GmbH & Co. KG, Denny Bros Ltd., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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