Thailand's cryogenic label market is very promising. It is expected to grow at a CAGR of 6.90% until 2034. Thailand is blessed with lush mountains and stunning beaches. Every year, millions of tourists visit the country to take advantage of its low-cost accommodations, vibrant culture, and breathtaking natural scenery.
NEWARK, DE / ACCESSWIRE / October 9, 2024 / The demand for cryogenic labels is reaching unprecedented heights, driven by advancements in precision medicine and the growing reliance of the global healthcare sector on biobanks. As of 2024, the cryogenic label market is valued at USD 1,166.8 million and is projected to grow at a remarkable CAGR of 6.20%, potentially reaching USD 2,126.6 million by 2034.
Cryogenic labels, essential for tracking and identifying samples in various industries, are increasingly being utilized beyond their traditional applications in healthcare and academia. The recent boom in the pharmaceutical sector, spurred by the COVID-19 pandemic, has further influenced market dynamics. Companies within the pharmaceutical industry are leveraging cryogenic labels to effectively track and manage samples critical for vaccine development, production, and distribution.
This surge in demand is also supported by significant investments from both public and private pharmaceutical entities, which are keen to enhance their capabilities in sample management. The versatility of cryogenic labels is now being recognized across diverse sectors, including biotechnology, food processing, industrial manufacturing, aerospace, veterinary medicine, and academic research institutions.
Moreover, the integration of cryogenic labels with cutting-edge digital technologies-such as barcode systems, RFID tags, and laboratory information management systems-has transformed their functionality. These advancements facilitate the automation of data capture, enable real-time tracking, and ensure seamless integration, ultimately enhancing the overall performance of cryogenic labels.
Market Value of Cryogenic Label by Country
Countries | CAGR (2024 to 2034) |
India | 7.60% |
China | 7.10% |
Thailand | 6.90% |
Canada | 5.90% |
South Korea | 5.60% |
"The cryogenic label market is poised for significant growth as industries increasingly adopt advanced labeling solutions for extreme conditions. Innovations in materials and adhesives will drive efficiency and reliability in applications ranging from pharmaceuticals to food storage." Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Prominent Drivers of the Cryogenic Label Market
Increasing Demand for Cryogenic Applications: The growing use of cryogenic technologies in various industries, such as healthcare (for biobanking and cryopreservation), aerospace, and energy, drives the demand for cryogenic labels. These labels are essential for ensuring proper identification and traceability of cryogenic materials and samples.
Technological Advancements: Innovations in label materials and printing technologies enhance the durability, visibility, and performance of cryogenic labels. Improved adhesive properties and resistance to extreme temperatures and moisture make these labels more effective in cryogenic environments.
Stringent Regulatory Compliance: Regulatory standards and guidelines in sectors like pharmaceuticals and biotechnology necessitate precise labeling for cryogenic products. Compliance with these regulations drives the demand for reliable and standardized cryogenic labels.
Growth of the Life Sciences Sector: The expansion of the life sciences industry, particularly in research, development, and clinical trials, increases the need for cryogenic storage solutions. This, in turn, boosts the demand for cryogenic labels to ensure proper management of biological samples.
Rising Investments in R&D: Increased investments in research and development activities in fields such as cryogenics and materials science promote the growth of the cryogenic label market. As new applications emerge, the demand for specialized labels tailored to these innovations rises.
Key Takeaways From The Cryogenic Label Market
The sensor data analytics market was valued at USD 1,099.4 million in 2023.
China is a key player, projected to grow at a CAGR of 7.10%.
Thailand is anticipated to see a CAGR of 6.90% through 2034, highlighting its market potential.
Canada is also expected to flourish, with a CAGR of 5.90% forecasted through 2034.
South Korea's market outlook is positive, with a projected CAGR of 5.60% through 2034.
India is slated for growth with a CAGR of 7.60% during the forecast period.
Permanent adhesives hold a dominant market share of 71.10% as of 2024, indicating a strong preference in the industry.
Report URL: https://www.futuremarketinsights.com/reports/cryogenic-labels-market
Competitive Landscape
The cryogenic label business is well-established, with a large number of companies competing for international domination. Following the pandemic, its significance has skyrocketed, with corporations investing more money in enhancing their cryogenic storage facilities. This has opened up new opportunities for cryogenic label producers to create sustainable and cheap goods that meet the needs of environmentally concerned customers and enterprises.
Key Companies
Brady Corporation
Thermo Fisher Scientific Inc.
GA International Inc.
Weber Packaging Solutions, Inc.
LabTAG - Division of GA International Inc.
CryoSafe - Custom Biogenic Systems
Cryo Coders
Cryo Ink
Tektag
CryoElite
Nalgene
Eppendorf
Remel Inc.
Bel-Art - SP Scienceware
CryoChoice
Cryo-ID
StarLabel Products
Cryo Supplies
Cryo Labels
TydenBrooks Security Products Group
Recent Developments
In July 2022, Schreiner MediPharm developed Freeze-Lock, a cryo label enduring sub-zero temps for medications like COVID-19 vaccines. It featured two layers ensuring adhesive strength and readability, meeting storage demands for crucial therapies.
In August 2021, FLEXcon Company, Inc. launched its revamped PHARMcal® line, offering track and trace solutions for pharmaceutical labeling. The simplified product range streamlines selection for customers, ensuring consistent quality and performance across global availability.
In May 2020, Mactac unveiled new cryogenic labels designed for extreme temperatures as low as -320 degrees Fahrenheit. The labelstocks featured advanced adhesives and were intended for use in medical research, clinical laboratories, and biobanks, providing reliable identification in harsh conditions.
In October 2022, Avery Dennison engineered a new portfolio of label materials, the Pharmaceutical and Healthcare Collection, meeting rigorous standards. This collection addressed growing demands for innovation in pharmaceutical labeling amid heightened focus on health and wellness during the pandemic.
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
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (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 analystsworldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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SOURCE: Future Market Insights, Inc.