The cryogenic label printers market was valued at US$68.452 million in 2022.
Personalized testing and sampling have grown in popularity as patient traffic has increased. It requires the application of additional labels. Additionally, the importance of critical communications between clinical professionals in laboratories and personnel and patients in other healthcare facilities has increased because of cryogenic labelling which is propelling the cryogenic label printer market growth. With the appropriate label attached, the use of laboratory medicine has increased exponentially by around 30%. In medical laboratories and diagnostic institutes, the growing need for medical labels facilitates efficient patient management. Demand for cryogenic label printers is anticipated to increase as a result of the aforementioned reasons.
Introduction:
The cryogenic label printers market is primarily driven by the healthcare industry globally since these labels are used to store blood and urine samples. Therefore, cryogenic label sales must be up to date with the changing trends in healthcare storage. The emergence of an increased need for cryogenic labels that are readable for a longer period and are easily observable is a consequence of printing technological advancements. Demand will be aided by the capacity of speciality cryogenic label printers to satisfy the requirements of labs and research institutes. They are made to provide excellent labels for various laboratory uses. They may become increasingly popular for identifying slides, tubes, and specimen containers. It's expected that major manufacturers will provide new printers with practical capabilities like barcode and QR code printing. The market for cryogenic label printers has benefited from the government's steady expansion in pharmaceutical spending around the globe. Additionally, the cryogenic label printer market is expected to be driven by the healthcare sector's rapid expansion and modernization.
Drivers:
Products offered by key companies:
The prominent growth in the pharmaceutical sector under the End-User segment
The pharmaceutical sector dominated the market and is expected to continue with this dominance over the forecast period. The prevalence of long-term illnesses and their concurrent conditions will have a favourable impact on the cryogenic label printer industry. The pharmaceutical industry is dynamic and ever-changing. Cryogenic label printers need to be flexible to print fresh designs and information properly as new drugs and therapies undergo development. The market for cryogenic label printers is expanding due to the rising need for medicinal products. A significant portion of the pharmaceutical industry consists of clinical and medical labs, for a variety of uses, including tracking and identification, they need labels which thereby creates a conducive environment for market expansion for the cryogenic label printer market.
The North American region is expected to hold a significant share of the cryogenic label printer market:
The North American market dominated the market and is poised to capture a major market share over the forecast period. The expansion of the healthcare industry in North America would be essential to facilitating research endeavours. Pharmaceutical and pathological laboratories are in greater demand as the healthcare industry develops and increases. Sales of cryogenic label printers are significantly pushed by the healthcare industry. These printers are expected to be used by labs to expedite samples and research. They may also be used to monitor laboratory records concurrently. The government's steady rise in pharmaceutical spending has helped the cryogenic label printer business in North America. Furthermore, the market for cryogenic label printers in North America is expected to be driven by the rapidly expanding and changing healthcare industry. The market growth is expected due to the rise in demand for the capacity of specialist cryogenic label printers to fulfil the requirements of laboratories and research institutes. Their purpose is to produce labels of superior quality for various laboratory uses. Major manufacturers are introducing new printers with practical features like barcode and QR code printing which is creating favourable market opportunities. It is anticipated that these features would contribute to the efficiency of data administration and sample monitoring. Additionally, they provide choices for cloud connectivity and data integration. This should facilitate the process of creating labels encourage cooperation among lab staff members and eventually boost market demand.
Key developments:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$68.452 million |
| Growth Rate | CAGR during the forecast period |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Segments