The market for cryogenic labels is anticipated to grow at a CAGR of 6% over the course of the forecast period, from US$ 12.7 Bn in 2021 to US$ 24 Bn by 2032.
As a result of escalating competition, the market for cryogenic labels is predicted to exhibit encouraging growth possibilities during the forecast period. In order to meet the need for cryogenic labels and increase their accessibility to clients, new rivals are providing a range of choices at competitive prices.
Cryogenic Labels Market Overview
Cryogenic Labels Market : An Overview
Cryogenic labels are specialty label designed to indicate the lowest temperature for storage. Cryogenic labels are developed in such a way that it remain readable, and adhesive for the required period of time. Cryogenic labels are stored at a very harsh temperature; therefore a unique combination of adhesive and laminate required for manufacturing cryogenic labels to remain its presence on the containers. The global cryogenic labels market is primarily influenced by the healthcare industry, for storage of blood and urine samples.
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Therefore, it is critical for cryogenic labels manufacturers to observe the changing trends for storage in the healthcare industry. The advancement in printing technology has resulted in advanced cryogenic labels, which are easily noticeable, and remains understandable for longer period of time. Manufacturers of cryogenic labels operate in a highly competitive environment, where simple and similar labels are produced for the past years, so the end user negotiates with the pricing of the labels compared to other manufacturers.
The development in the field of healthcare has created the need for cryogenic labels. Cryogenic labels help to minimize the error for biological test tests. Writing information directly on the sample container is altered with the use of cryogenic labels. The increase in the number of the diagnostic center from the healthcare industry is expected to increase the global cryogenic labels market during the forecast period.
Cryogenic Labels Market: Dynamics
The global cryogenic labels market is expected to expand on the framework of growth in the healthcare industry. Since the increase in diagnostic center for biological and biomedical tests to detect the disease is expected to increase the demand for cryogenic labels. The technological changes in the healthcare sector occur with the help of biomedical engineering. Cryogenic labels are easy to attach, durable, and cost-efficient, and these are the factor, which will drive the market for cryogenic labels. A cryogenic product such as vials, laser sheet, rolled labels, containers, racks, and indicator are used in the cryogenic process. The demand for the cryogenic label is expected to be driven by improving facilities and operational activity in the healthcare sectors. The need for cryogenic labels is likely to grow on the footprint of increasing demand from the fish shipping industry, where fish are stored at low temperature to avoid spoilage. Cryogenic labels indicate the lowest temperature for storage of food and beverages, blood sample and others to protect it from spoilage and is expected to drive the global market for cryogenic labels in the forecast period.
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Global Cryogenic Labels Market: Regional Outlook
Europe is considered as one of the largest markets for cryogenic labels due to providing better healthcare services. Whereas, Latin America and North America measured as one of the critical regions of markets for cryogenic labels followed by Europe. Asia Pacific region is expected to witness healthy growth, due to an increase in a healthcare facility and international trade for the processed meat industry during the forecast period. The regions such as MEA and Oceania is expected to witness moderate growth in the forecast period due to an already established market.
Global Cryogenic Labels Market: Key players
Some of the leading players operating in the global cryogenic labels market are as follows –
- GA International Inc.
- LVL technologies GmbH & Co. KG
- Nev’s Ink, Inc.
- Brady Corporation
- Diversified Biotech, Inc.
- Argos Technologies, Inc.
- Cryoguard Corporation
- Bel-Art Products, Inc.
- Biologix Group Ltd.
- Avantor Company
Recent Developments in the Global Cryogenic Labels Market
- In January 2018, Avery Dennison RFID expanded its Pharmaceutical and Healthcare portfolio to include two new UHF RFID inlay solutions for operation in a wide range of medical environments.
- In August 2017, Brady’s Brand Protection business partnered with Kezzler and Honeywell to bring product authentication labeling and tracking to a leading industrial product.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Cryogenic Labels Market: Regional analysis includes-
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Global Cryogenic Labels Market: Segmentation
The global cryogenic labels market is segmented as follows –
By adhesive type, the global cryogenic labels market is segmented into –
- Permanent
- Removable
By material type, the global cryogenic labels market is segmented into –
- Nylon
- Polyester
By End-user, the global cryogenic labels market is segmented into –
- Laboratory
- Chemical
- Healthcare
- Electronics
- Shipping
- Other
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