From GlobeNewswire: 2024-09-18 11:03:00

CoherentMI’s report on the Medical Device Labeling Market projects a value of US$ 1.27 Billion in 2024, expected to reach US$ 1.78 Billion by 2031, with a growth rate of 5.3%. The demand for medical devices is increasing due to technological advancements and an aging population, driving the need for proper labeling. Key players in the market include Avery Dennison Corporation, 3M Company, and others.

The growth of the Medical Device Labeling Market is fueled by the demand for customized labels from manufacturers and increasing healthcare expenditure. Innovations in packaging solutions and the prevalence of chronic diseases are driving the need for proper labeling and packaging. The market is expected to witness a CAGR of 5.3% during the forecast period 2024-2031.

Regulatory mandates on medical device labeling are promoting market growth. European regulations require UDI labeling implementation, while technological advancements like digital printing offer on-demand printing and customization benefits. Anti-counterfeiting measures, such as barcodes and holograms, are driving demand for advanced labeling solutions. Flexcon Global introduced MedFlex for lifetime medical device labeling in 2023.

The global Medical Device Labeling Market is segmented by device type, labeling format, and end-user. Implantable devices and regulatory labeling are expected to dominate the market. Hospitals, clinics/ambulatory surgical centers, and home healthcare are key end-users. Major companies in the market include CCL Industries, UPM Raflatac, and Multi-Color Corporation, among others.

The market size is estimated to reach US$ 1.78 Billion by 2031, with a CAGR of 5.3%. Key drivers include increasing regulatory standards and demand for innovative labeling solutions. Regions with well-established healthcare infrastructure, like North America, are expected to lead the market. Strategic partnerships and new product launches are key strategies adopted by major players.



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