Global Magnifier labels Market: Introduction
Magnifier label is an innovative packaging solution that allows end consumers to read small sized prints on the packaging of the product. The global market for magnifier labels is currently in the introductory stage as of 2017. However, the critical value offering of magnifier labels is anticipated to create huge business opportunities for packaging manufacturers, particularly catering to pharmaceutical market segments. The global market for magnifier labels is expected to grow rapidly due to its application in the packaging of pharmaceutical products and medical devices.
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Global Magnifier labels Market: Segmentation
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Global Magnifier labels Market: Market Dynamics
Magnifier labels have huge potential to solve compelling issues in convenience and usage of pharmaceutical drug delivery and administration. Magnifier labels particularly prove beneficial in facilitating compliance pertaining to product usage and administration of drugs in healthcare processes. Medical errors due to improper use of product causes harmful reactions for millions of people every year. Compliance with appropriate product usage is a major issue especially in pharmaceutical products. Pharmaceutical products are produced in multiple volumes and are packed in ampoules, vials, dropper bottles, packer bottles, etc. Pharmaceutical packaging has to provide challenging solutions to print larger information on limited space. Critical amount of product information printed on packaging of pharmaceutical products often lead to mistakes in drug usage and dosage. Packaging products such as magnifier labels allow consumers to read small sized print on the packaging of pharmaceutical products. Magnifier labels thus, reduce the possibility of mistakes occurring in drug usage and drug administrations.
The market is expected to witness multifold growth in terms of production, post the diffusion of technology among packaging and labels manufacturers. The global market for magnifier labels is anticipated to generate considerable incremental opportunity into consumer market segments such as personal care products, home care products and also in food and beverages packaging.
Apart from facilitating convenient reading of small sized prints on packaging, the magnifier labels used in packaging can prove to be an effective marketing tool. Industry segments including personal care, home car, food and beverages have increasingly adopted multi-layer labels into their product packaging. The global market for magnifier labels market is anticipated to be further benefited from adoption of multi-layer technology into end use market segments.
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Global Magnifier labels Market: Regional Outlook
The global market for magnifier labels is segmented into 7 key regions including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ) and Japan. Mature and developed markets in North America and Europe are expected to adopt the magnifier labels earlier as compared to rest of the world. However, packaging and labels manufacturers also consider rapid evolution of the Asia Pacific market as next growth destination.
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Global Magnifier labels Market: Competitive Landscape
IC Optix, based in Philadelphia, U.S. has developed and patented the magnifier labels technology. In July, 2017 the company conducted successful trail of the magnifier labels. The company has also collaborated with security solutions provider Securikett to integrate the magnifier labels technology into finished prime labels in order to ultimately scale up the production of magnifier labels. The magnifier labels is made of polyethylene terephthalate/polyester (PET) film using a reel-to-reel system.