Global Syringe Labels Market To Grow At A CAGR Of 10.5% By 2028

04-Aug-2022 | Zion Market Research

The global syringe labels market size was worth around USD 10 billion in 2021 and is predicted to grow to around USD 40 billion by 2028 with a compound annual growth rate (CAGR) of roughly 10.5% between 2022 and 2028.

The pharmaceutical and healthcare sector has been striving for innovation and developments that can aid the enhancement of medical procedures and care globally. These innovations not only ease the treatment process and are extremely important life-saving tools in many situations. For the correct delivery of medicine, it is imperative that the products have the right packaging and labeling in order to reduce any human error and ease the process of treatment and medical aid. Syringe labels allow for the correct identification of medicine and the related aspects. Using syringes that do not have proper labels has led to many human-induced errors which have proven to have serious repercussions.

Since the use of syringes ranges from a normal tetanus shot to use in critical operations and surgeries, they are exceptionally common medical devices but at the same time, their use cannot be taken lightly. Errors in medical treatment are one of the leading factors of deaths worldwide, putting the healthcare industry under extreme pressure to deliver correct medical care which is why there is a significant growth in the adoption of syringe labels across medical providers. The most common type of syringe labels is vaccine syringe labels, anesthesia syringe labels, and syringe dosage labels. One of the key aspects while labeling a syringe is selecting the right syringe label. In case the syringe label does not properly fit the syringe diameter or surface area, it may again lead to errors thus eliminating the purpose of the use of syringe labels.

Covid-19 impacted the global market cap positively owing to the rise in the number of patients. The global market expansion was also propelled once the vaccination drives were running to their true potential. Billions of people were vaccinated globally which resulted in an increase in demand for syringe labels. There were issues related to the size of the vials and the availability or the right size of syringe labels, nonetheless, the global market grew significantly due to the onset of Covid-19.

The global syringe labels market growth is expected to gain momentum due to the rise in the number of hospital admissions globally which is attributed to multiple reasons like an increase in the number of geriatric population, patients suffering from heart conditions, chronic diseases, and a rise in infections, and many more. As per the World Health Organization (WHO) report of 2022, more than 10 million of the population died because of cancer in the year 2020. By 2030, more than 300 million people will be affected by diabetes, as per official reports. These diseases are not just widespread but are fatal in many situations and are projected to aid the increase in the global market cap. The growing trend of higher adoption of prefilled injections is also expected to aid the expansion of the use of syringe labels globally.

The drawback related to handwritten labels is projected to impede global market expansion.

The rise in the healthcare sector in emerging economies may provide growth opportunities during the forecast period.

The expensive production of syringe labels is anticipated to challenge global market growth.

The global syringe label market is segmented based on size, material, end-use, and region.

Based on the size, the segments are 12 x 15 mm, 13 x 80 mm, 50 x 30 mm, and others. The size used depends on the syringes being administered. Most of the vaccines used for adults require a 23 - 38 mm syringe.

Based on material, the global market segments are synthetic, paper, and polyester. Many hospitals use polyester labels because of their impressive adhesive qualities and durability. Since hospitals or medical facilities are filled with unique solutions, different temperatures, and hard environments it is important that syringe labels can withstand all conditions, and polyester labels have proven to be more useful. Other labels are able to maintain the quality for up to 7 months however, polyester labels are known to survive more than a few years.

Based on end-use, the global market segments are hospitals, laboratories, pharmaceutical companies, research organizations, clinics, and others. The global market is led by the hospital segment owing to the increased number of patients across facilities. This may also be attributed to the high funds that hospitals possess in order to incorporate higher expenses. A UK survey of 35 hospitals showcased that these facilities use a wide variety of syringe labels to remove any syringe-related errors.

North America may lead the global syringe labels market growth owing to the well-established healthcare infrastructure and state-of-the-art ambulance services. Regions like the USA and Canada are known for their ambulatory services that are well equipped to handle emergency situations where syringe labels prove to be more effective. The regional market growth may also be attributed to the rising number of hospital admissions. The Canadian Institute for Health Information stated that there were more than 50000 hospital stays between April to December 2021. 1 in every 4 hospitalized patients required intensive care.

Asia-Pacific may also register higher growth in the coming years owing to the growth in the pharmaceutical sector in regions like China and India. These regions are also known for their manufacturing units that are cost-effective and employ skilled labor.

The global syringe labels market is dominated by players like SheetLabels, United Ad Label, Hospicode Limited, Schreiner MediPharm, Avery Dennison Corporation, Multi-Color Corporation, Sharp, Essentra plc, and Nordvalls Etikett AB.

Recent Developments:

  • In September 2021, WLS, a product brand of ProMach, launched its highly advanced RFID labeling solution at the Pack Expo Las Vegas booth #C-3518. The product incorporates high-speed and pressure-sensitive label applicators along with label printers. The new labeling solution will use RFID technology to label bottles, vials, syringes, and other devices with the intention to improve inventory control during the product life cycle.
  • In November 2019, QuVa Pharma announced the launch of a new and advanced flag label design to enhance its syringe product portfolio. The product is created for its compounded sterile products (CSPs) and the application for its patent is already sent.

Browse the full Global Syringe Labels Market By End-Use (Hospitals, Laboratories, Pharmaceutical Companies, Research Organization, Clinics, and Others), By Material (Synthetic, Paper, and Polyester), By Size (12 x 15 mm, 13 x 80 mm, 50 x 30 mm, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/global-syringe-labels-market

The global syringe labels market is segmented as follows:

By End-User

  • Hospitals
  • Laboratories
  • Pharmaceutical Company
  • Research Organization
  • Clinics
  • Others

By Material

  • Synthetic
  • Paper
  • Polyester

By Size

  • 12 x 15 mm
  • 13 x 80 mm
  • 50 x 30 mm
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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