The use of cryogenic labels has been on the rise in recent years, especially in the healthcare sector. With the increasing reliance on biobanks and the rise of precision medicine, the demand for cryogenic labels has reached an all-time high. Their applications are not just limited to medicine and academia as they are now being used in various industries. Cryogenic labels are used to track and identify samples that are critical for vaccine development, production, and distribution.
Due to the recent pandemic, the pharmaceutical sector has seen a significant boom. This has led to an increased demand for cryogenic labels as companies invest heavily in tracking and identifying samples for vaccine development. Both public and private pharma companies have contributed to the expansion of cryogenic labels in the recent past. The market is growing at a CAGR of 6.20% and is expected to reach a staggering valuation of US$ 2,126.6 million by the end of 2034.
Apart from the healthcare sector, cryogenic labels are now being used in other industries, such as biotechnology, food processing, industrial manufacturing, aerospace, veterinary medicine, and academic research institutions. This increase in adoption across multiple industries is driving the growth of the cryogenic labels market, taking the valuation to US$ US$ 1,166.8 million in 2024. With the breakthroughs in drug development, the demand for cryogenic labels is expected to increase in the coming years.
Request a Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-9941
“Companies in the cryogenic label market must embrace sustainable materials in the manufacturing of labels. This will attract eco-conscious consumers and businesses”, opines an FMI analyst.
Key Takeaways from the Market Study
- The permanent segment dominates the cryogenic label market with a share of 71.10% in 2024.
- Based on the end use, the health and pharmaceutical segment leads the cryogenic label market with a share of 29.60% in 2024.
- The cryogenic label industry in India is anticipated to grow at a CAGR of 7.60% through 2034.
- The cryogenic label industry in China is estimated to rise at 7.10% CAGR through 2034.
- The cryogenic label industry in Thailand has the potential to increase at 6.90% CAGR through 2034.
- The Canada cryogenic label industry is predicted to rise by 5.90% CAGR through 2034.
- The cryogenic label industry in South Korea is very likely to grow at a CAGR of 5.60% through 2034.
Competitive Landscape
The cryogenic label market is highly competitive, with numerous companies striving for global dominance.
- The COVID-19 pandemic has led to an increased focus on cryogenic storage facilities, thereby boosting the demand for cryogenic labels.
- Cryogenic label manufacturers are now presented with an opportunity to create sustainable and affordable offerings that cater to the needs of eco-conscious consumers and businesses.
- Some of the prominent companies in the cryogenic label market are Cryo Coders, Cryo Ink, Tektag, CryoElite, Nalgene, Eppendorf, Brady Corporation, Thermo Fisher Scientific Inc., GA International Inc., and Weber Packaging Solutions, Inc.
Get in Touch with Our Sales Team to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/9941
Recent Developments:
- Schreiner MediPharm launched Freeze-Lock, a cryo label for COVID-19 vaccines with two layers for adhesive strength and readability in July 2022.
- FLEXcon Company Inc., in August 2021, revamped PHARMcal® line for track and trace solutions, providing consistent quality and performance globally.
- In May 2020, Mactac released cryogenic labels for extreme temperatures as low as -320 degrees Fahrenheit, designed for medical research and biobanks.
- Avery Dennison created a new Pharmaceutical and Healthcare Collection of label materials meeting rigorous standards for innovation in pharmaceutical labeling in October 2022.
Key Segments of the Cryogenic Label Industry
By Adhesive Type:
- Permanent
- Removable
By Material Type:
- Nylon
- Polyester
By End User:
- Laboratory
- Chemical
- Healthcare
- Electronics
- Shipping
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
