North America Cryogenic Label Printer Market size was valued at US$ 94.5 million in 2023. It is projected to reach US$ 140.0 million by 2033.
Sales revenue is anticipated to expand at a CAGR of 4.0% over the forecast period 2023 to 2033. North America cryogenic label printer market was valued at US$ 89.7 million in 2022.
It is anticipated to exhibit Y-o-Y growth of 5.3% in 2023. The medical and clinical laboratories segment by end-use accounted for more than 30.2% of market share in value by 2022.
In terms of printer type, the industrial printer segment is likely to generate more than 76.4% of share and expand at a CAGR of above 4.1% through 2033. In terms of printing technology, thermal transfer segment is anticipated to create an incremental opportunity of US$ 16.1 million in the same period.
North America cryogenic label printer market is set to witness a 1.5x growth rate compared to the current value in the review period. It is also expected to create an absolute dollar opportunity of US$ 50.3 million by 2033.
The United States was valued at US$ 72.2 million in 2022, in the North America cryogenic label printer market. It accounts for more than 80% of sales in terms of value. Sales of cryogenic label printers in country witnessed sales of more than 33,000 units in value.
Laboratory diagnoses make up about 75% of all diagnoses. They have become a crucial part of the monitoring of diseases and improvement of patient care.
With increasing footfall of patients, personalized testing and sampling have become more prevalent. It necessitates the use of more labels. Cryogenic labels have also elevated essential communications between clinical staff in laboratories and staff & patients in other healthcare organizations.
The American Pharmacists Association (APA) reveals that on-time consumption of laboratory medicine increases by around 30% with a proper label attached. Increasing demand for medical labels aids in smooth patient management in healthcare labs and diagnostic centers. This is expected to drive cryogenic label printer demand.
Proper labeling of equipment and machines is one of the significant demonstrations of good laboratory practices. It ensures proper workflow, organization, and traceability, among other benefits. It also includes maintaining good calibrations and facilitating routine maintenance.
Stringent labeling requirements on lab-use devices by regulatory bodies are further necessitating the use of labels. For instance, the United States government initiated the Clinical Laboratory Improvement Amendments (CLIA) program.
It makes constant amendments in terms of laboratory oversight and maintenance. Such regulations are also positively impacting the North America cryogenic label printer market.
| Attributes | Key Insights |
|---|---|
| North America Cryogenic Label Printer Market Estimated Size (2023E) | US$ 94.5 million |
| Projected North America Cryogenic Label Printer Market Valuation (2033F) | US$ 140.0 million |
| Value-based CAGR (2023 to 2033) | 4.0% |
| Collective Value Share: Top 5 Companies (2022A) | 25 to 30% |
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North America cryogenic label printer market expanded at a CAGR of 3.3% during the historical period from 2018 to 2022. It showcased a market value of US$ 89.7 million in 2022, up from US$ 78.8 million in 2018.
Ability of specialized cryogenic label printers to meet the needs of laboratories and research facilities is set to aid demand. They are designed to create high-quality labels for several lab applications.
Their use might surge for identifying specimen containers, tubes, and slides. Key companies will likely launch new printers with useful features, including barcode and QR code printing.
Such features are projected to help make sample tracking and data management more efficient. Cryogenic label printers must be integrated with laboratory information management systems (LIMS).
They also offer data integration and cloud connectivity options. This is set to help streamline the label-creation process and promote collaboration among lab personnel.
The healthcare sector plays a significant role in pushing cryogenic label printer sales. Labs are anticipated to use these printers for streamlining research and samples. At the same time, they might be utilized for tracking laboratory records.
Growth of North America’s healthcare sector would play a vital role in enabling research activities. As the healthcare sector grows and evolves, there is an increased demand for pharmaceutical and pathological laboratories.
Consistent increase in pharmaceutical expenditure by the government has positively impacted the North America cryogenic label printer market. Moreover, rapid growth and transformation of the healthcare sector are poised to drive the North America cryogenic label printer market.
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Principal Consultant
The table below puts forward the market share of two significant countries in North America, namely, the United States and Canada. Out of these, the United States is anticipated to dominate the space of North America cryogenic label printer market in the evaluation period.
The United States is expected to witness a CAGR of 3.5% in the forecast period, generating an astonishing share of 76.4% in 2033. Conversely, Canada is set to follow the footprints of the former and register a 5.8% CAGR.
| Country | Market Share (2033) |
|---|---|
| United States | 76.4% |
| Canada | 23.6% |
According to United States Bureau of Labor Statistics data, demand for skilled professionals in medical laboratories will increase by over 7% between 2021 and 2031. Multiple laboratories report a shrinking workforce, especially in the clinical and diagnostic divisions.
Total number of active pathologists has also been falling consistently. Vacancies for personnel across clinical laboratories have been increasing in recent times. Moreover, the average workforce age is rising, which might hamper efficiency and flow.
Laboratory label printers can take up to 10 seconds to handwrite and apply a label to laboratory instruments such as test tubes. However, cryogenic label printers can print and apply a label in under 5 seconds. Growing shortage of laboratory staff is set to provide a lucrative opportunity for the United States in the North America cryogenic label printer market.
The United States is anticipated to account for 80.1% of the North America cryogenic label printer market share in 2023. It is projected to record a 3.5% CAGR during the forecast years.
| Country | CAGR (2023 to 2033) |
|---|---|
| United States | 3.5% |
| Canada | 5.8% |
Growth of the pharmaceutical sector in Canada is expected to drive cryogenic label printer sales. The incidence of chronic diseases and comorbidities associated with diseases will likely impact Canada's growth positively in the North America cryogenic label printer market.
According to Government of Canada, pharmaceutical sales in Canada gained a value of US$ 29.9 billion, which accounted for a 35.3% increment. The pharmaceutical sector is dynamic and constantly evolving.
As new medications and treatments are developed, cryogenic label printers must be adaptable to accurately print new information and designs. Canada is expected to create a definite financial potential worth US$ 15.5 million through 2033, expanding at a CAGR of 5.8%.
Below table shows thermal transfer to be the leading segment in printing technology in 2023, at 39.9% share. It is projected to surge at a CAGR of 3.3% through 2033. Based on end use, medical and clinical laboratories will likely be the dominant segment in the North America cryogenic label printer market, growing at an absolute $ opportunity of US$ 9.6 million by 2033.
| Category | Market Share (2023) |
|---|---|
| Thermal Transfer (by Printing Technology) | 39.9% |
| Medical and Clinical Laboratories (by End-use) | 29.9% |
Based on printing technology, the thermal transfer segment will likely generate a share of more than 39.9% in 2023 in the North America cryogenic label printer market. It is expected to rise at a CAGR of 3.3% over the forecast period.
Thermal transfer printing technology is an ideal solution for long-term printing applications. It is primarily helpful for printing media that are exposed to harsh conditions. Thermal transfer printing is paramount for laboratory specimens, asset tracking, blood bags, and cold & freezer storage. This is projected to lead to increased demand for the same.
Demand for pharmaceutical products is increasing, which is driving growth of the North America cryogenic label printer market. Medical and clinical laboratories are an important part of the pharmaceutical sector. They require labels for diverse applications such as tracking and identification.
Based on end use, medical and clinical laboratories are expected to generate a more than 29.9% share in the North America cryogenic label printer market in 2023. They are projected to create a certain monetary opportunity worth US$ 9.6 million through 2033.
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Leading companies in the North America cryogenic label printer market are focusing on investing huge sums in research & development activities. With these, they are set to develop technologically advanced printers for several requirements.A handful of other companies focus on mergers, acquisitions, and joint ventures to co-develop innovative products. They are also collaborating with reputed healthcare facilities to develop novel devices for their use within the North America cryogenic label printer market.
For instance:
| Attribute | Details |
|---|---|
| Estimated North America Cryogenic Label Printer Market Size (2023) | US$ 94.5 million |
| Projected North America Cryogenic Label Printer Market Valuation (2033) | US$ 140.0 million |
| Value-based CAGR (2023 to 2033) | 4.0% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ million) |
| Segments Covered | Printer Type, Printing Technology, Ink Type, Laboratory End Use, Country |
| Key Countries Covered | United States, Canada |
| Key Companies Profiled | Brady Corporation; Brother International Corporation; Zebra Technologies Corporation; Seiko Epson Corporation; Cab Produkttechnik GmbH & Co KG; Citizen Systems Europe GmbH OKI Group; Newell Brands Inc.; Sato Holdings Corp; Honeywell International Inc.; Canon Inc.; Primera Technology Inc.; Computype; TSC Auto ID Technology Co., Ltd |
In 2033, the North America market size was US$ 140.0 million.
The projected CAGR for the market from 2023 to 2033 is 4.0%.
From 2018 to 2022, the market expanded at a CAGR of 3.3%.
The United States market is set to command shares worth 76.4% by 2033.
The medical and clinical laboratories segment will likely create an opportunity of US$ 9.6 million by 2033.
1. Executive Summary
1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
4.4. Go-to-market Strategies
5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Country-level Pricing Analysis
6.2. Regional Pricing Analysis
6.3. Average Pricing Analysis Benchmark
6.4. Factors Impacting the Pricing Analysis
6.4.1. Product Supply / Demand
6.4.2. Component / Technology Cost
6.4.3. Procurement Volumes
6.4.4. Quality / Brand
6.4.5. Regulations and Policies
7. Market Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ million) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Packaging Market Overview
8.2. Printers Industry Outlook
8.3. Overview on Types of Laboratories using Label Printers
8.4. Overview on Number of Laboratories in North America
8.5. Market Overview on Cryogenic Label Printer Market
8.6. Macro-Economic Factors
8.7. Value Chain Analysis
8.7.1. Exhaustive List of Component / Technology Suppliers
8.7.2. Exhaustive List of Cryogenic Label Printer Manufacturers / Integrators
8.7.3. Exhaustive List of End Users / Customers
8.8. Case-Based Scenarios – Impact Assessment
8.8.1. Current Statistics
8.8.2. Short-Mid-Long Term Outlook
8.8.3. Likely Rebound
8.9. Market Dynamics
8.9.1. Drivers
8.9.2. Restraints
8.9.3. Opportunity Analysis
8.10. Supply Demand Analysis
8.11. Installed Base for Laboratory Label Printers
8.12. Key Industry Perspectives: What Leaders Are Saying
9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printer Type
9.1. Introduction / Key Findings
9.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Printer Type, 2018 to 2022
9.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Printer Type, 2023 to 2033
9.3.1. Desktop Printer
9.3.2. Industrial Printer
9.3.3. Mobile Printer
9.4. Y-o-Y Growth Trend Analysis By Printer Type, 2018 to 2022
9.5. Absolute $ Opportunity Analysis By Printer Type, 2023 to 2033
10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ink Type
10.1. Introduction / Key Findings
10.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Ink Type, 2018 to 2022
10.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Ink Type, 2023 to 2033
10.3.1. Solvent based
10.3.2. Water based
10.3.3. UV based
10.3.4. Others (Latex based)
10.4. Y-o-Y Growth Trend Analysis By Ink Type, 2018 to 2022
10.5. Absolute $ Opportunity Analysis By Ink Type, 2023 to 2033
11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printing Technology
11.1. Introduction / Key Findings
11.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By Printing Technology, 2018 to 2022
11.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By Printing Technology, 2023 to 2033
11.3.1. Direct Thermal
11.3.2. Thermal Transfer
11.3.3. Inkjet Printing
11.3.4. Laser Printing
11.4. Y–o–Y Growth Trend Analysis By Printing Technology, 2018 to 2022
11.5. Absolute $ Opportunity Analysis By Printing Technology, 2023 to 2033
12. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
12.1. Introduction / Key Findings
12.2. Historical Market Size Value (US$ million) & Volume (Units) Analysis By End Use, 2018 to 2022
12.3. Current and Future Market Size Value (US$ million) & Volume (Units) Analysis and Forecast By End Use, 2023 to 2033
12.3.1. Research Laboratories
12.3.2. Medical and Clinical Laboratories
12.3.3. Pharmaceutical and Biotechnology Laboratories
12.3.4. Environmental Testing Laboratories
12.3.5. Quality Control and Manufacturing Laboratories
12.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
12.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
13. Country wise Cryogenic Label Printer Market Analysis 2023 & 2033
13.1. United States Cryogenic Label Printer Market Analysis
13.1.1. By Printer Type
13.1.2. By Printing Technology
13.1.3. By Ink Type
13.1.4. By End Use
13.2. Canada Cryogenic Label Printer Market Analysis
13.2.1. By Printer Type
13.2.2. By Printing Technology
13.2.3. By Ink Type
13.2.4. By End Use
14. Market Structure Analysis
14.1. Market Analysis by Tier of Companies (Cryogenic Label Printer Manufacturers)
14.2. Market Share Analysis of Top Players
14.3. Market Presence Analysis
15. Competition Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Competition Deep Dive(North America operating key Market Players)
15.3.1. Brady Corporation
15.3.1.1. Overview
15.3.1.2. Product Portfolio
15.3.1.3. Profitability by Market Segments (Product/Channel/Region)
15.3.1.4. Sales Footprint
15.3.1.5. Strategy Overview
15.3.2. Brother International Corporation
15.3.2.1. Overview
15.3.2.2. Product Portfolio
15.3.2.3. Profitability by Market Segments (Product/Channel/Region)
15.3.2.4. Sales Footprint
15.3.2.5. Strategy Overview
15.3.3. Zebra Technologies Corporation
15.3.3.1. Overview
15.3.3.2. Product Portfolio
15.3.3.3. Profitability by Market Segments (Product/Channel/Region)
15.3.3.4. Sales Footprint
15.3.3.5. Strategy Overview
15.3.4. Seiko Epson Corporation
15.3.4.1. Overview
15.3.4.2. Product Portfolio
15.3.4.3. Profitability by Market Segments (Product/Channel/Region)
15.3.4.4. Sales Footprint
15.3.4.5. Strategy Overview
15.3.5. Cab Produkttechnik GmbH & Co KG
15.3.5.1. Overview
15.3.5.2. Product Portfolio
15.3.5.3. Profitability by Market Segments (Product/Channel/Region)
15.3.5.4. Sales Footprint
15.3.5.5. Strategy Overview
15.3.6. Citizen Systems Europe GmbH
15.3.6.1. Overview
15.3.6.2. Product Portfolio
15.3.6.3. Profitability by Market Segments (Product/Channel/Region)
15.3.6.4. Sales Footprint
15.3.6.5. Strategy Overview
15.3.7. OKI Group
15.3.7.1. Overview
15.3.7.2. Product Portfolio
15.3.7.3. Profitability by Market Segments (Product/Channel/Region)
15.3.7.4. Sales Footprint
15.3.7.5. Strategy Overview
15.3.8. Newell Brands Inc
15.3.8.1. Overview
15.3.8.2. Product Portfolio
15.3.8.3. Profitability by Market Segments (Product/Channel/Region)
15.3.8.4. Sales Footprint
15.3.8.5. Strategy Overview
15.3.9. Sato Holdings Corp
15.3.9.1. Overview
15.3.9.2. Product Portfolio
15.3.9.3. Profitability by Market Segments (Product/Channel/Region)
15.3.9.4. Sales Footprint
15.3.9.5. Strategy Overview
15.3.10. Honeywell International Inc
15.3.10.1. Overview
15.3.10.2. Product Portfolio
15.3.10.3. Profitability by Market Segments (Product/Channel/Region)
15.3.10.4. Sales Footprint
15.3.10.5. Strategy Overview
15.3.11. Canon Inc.
15.3.11.1. Overview
15.3.11.2. Product Portfolio
15.3.11.3. Profitability by Market Segments (Product/Channel/Region)
15.3.11.4. Sales Footprint
15.3.11.5. Strategy Overview
15.3.12. Primera Technology Inc.
15.3.12.1. Overview
15.3.12.2. Product Portfolio
15.3.12.3. Profitability by Market Segments (Product/Channel/Region)
15.3.12.4. Sales Footprint
15.3.12.5. Strategy Overview
15.3.13. Computype
15.3.13.1. Overview
15.3.13.2. Product Portfolio
15.3.13.3. Profitability by Market Segments (Product/Channel/Region)
15.3.13.4. Sales Footprint
15.3.13.5. Strategy Overview
15.3.14. TSC Auto ID Technology Co., Ltd
15.3.14.1. Overview
15.3.14.2. Product Portfolio
15.3.14.3. Profitability by Market Segments (Product/Channel/Region)
15.3.14.4. Sales Footprint
15.3.14.5. Strategy Overview
15.3.15. DASCOM AP PTE LTD
15.3.15.1. Overview
15.3.15.2. Product Portfolio
15.3.15.3. Profitability by Market Segments (Product/Channel/Region)
15.3.15.4. Sales Footprint
15.3.15.5. Strategy Overview
*The above list is indicative in nature and is subject to change during the course of research
16. Assumptions and Acronyms Used
17. Research Methodology
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North America Cryogenic Label Printer Market
