North America Cryogenic Label Printer Market size was valued at USD 94.5 million in 2023. It is projected to reach USD 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 USD 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 USD 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 USD 50.3 million by 2033.
The United States was valued at USD 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) | USD 94.5 million |
| Projected North America Cryogenic Label Printer Market Valuation (2033F) | USD 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 USD 89.7 million in 2022, up from USD 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 USD 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 USD 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 USD opportunity of USD 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 USD 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.
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| Attribute | Details |
|---|---|
| Estimated North America Cryogenic Label Printer Market Size (2023) | USD 94.5 million |
| Projected North America Cryogenic Label Printer Market Valuation (2033) | USD 140.0 million |
| Value-based CAGR (2023 to 2033) | 4.0% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD 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 USD 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 USD 9.6 million by 2033.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market - Pricing Analysis 7. Market Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printer Type 9.1. Desktop Printer 9.2. Industrial Printer 9.3. Mobile Printer 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ink Type 10.1. Solvent based 10.2. Water based 10.3. UV based 10.4. Others (Latex based) 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printing Technology 11.1. Direct Thermal 11.2. Thermal Transfer 11.3. Inkjet Printing 11.4. Laser Printing 12. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 12.1. Research Laboratories 12.2. Medical and Clinical Laboratories 12.3. Pharmaceutical and Biotechnology Laboratories 12.4. Environmental Testing Laboratories 12.5. Quality Control and Manufacturing Laboratories 13. Country wise Cryogenic Label Printer Market Analysis 2023 to 2033 14. Market Structure Analysis 15. Competition Analysis 15.1. Brady Corporation 15.2. Brother International Corporation 15.3. Zebra Technologies Corporation 15.4. Seiko Epson Corporation 15.5. Cab Produkttechnik GmbH & Co KG 15.6. Citizen Systems Europe GmbH 15.7. OKI Group 15.8. Newell Brands Inc 15.9. Sato Holdings Corp 15.10. Honeywell International Inc 15.11. Canon Inc. 15.12. Primera Technology Inc. 15.13. Computype 15.14. TSC Auto ID Technology Co., Ltd 15.15. DASCOM AP PTE LTD 16. Assumptions and Acronyms Used 17. Research Methodology
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North America Cryogenic Label Printer Market
