DUBLIN–(BUSINESS WIRE)–The “Artwork Management Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Deployment and Application” report has been added to ResearchAndMarkets.com’s offering.
The artwork management software market was valued at US$ 469.05 million in 2020 and is projected to reach US$ 942.80 million by 2028; it is expected to grow at a CAGR of 9.12% from 2020 to 2028. The growth of the artwork management software market is attributed to the rising pharma and life science business. With the rising demand for medicines and other life science elements across the world, the artwork management tools are majorly used in pharmaceutical and life sciences sectors.
Throughout the pharmaceutical industry, packaging & labelling is highly recognized as a mission-critical process, which assists the organization to frame strategic goals for attracting more customers. Frequent label changes are a matter of course and new rules & regulations emerge with rising frequency. This factor will help in making the use of an artwork management system to lower human errors, reduce discrepancies in processes, and improve label quality & business agility.
Additionally, the medical device companies have to comply with regulatory requirements such as the European Union’s MDR systems and Falsified Medicines Directive (FMD), and Food and Drug Administration’s Unique Device Identification (UDI) and Drug Supply Chain Security Act (DSCSA) to maintain the smooth operations of pharmaceutical and life sciences sectors. Therefore, the manufacturers are reviewing medical device packaging and barcode labelling processes to comply with the emerging regulatory requirements.
The pandemic has had a negative impact on the artwork management software market. Due to travel bans, restrictions on movement, and temporary closure of supply chains, the manufacturing of labels and packaging industry business got impacted adversely. On the contrary, due to the operational activities of essential goods such as food & beverage, pharmaceuticals for biological or pharmaceutical laboratories, the demand for packaging & labelling have spurred which has helped in the adoption of artwork management system. This has led the artwork management tool market players to witness the constant flow of demand for their products.
The global artwork management software market is segmented based on deployment and application, and geography. Based on deployment, the market is bifurcated into on-premises and cloud. Based on application, the artwork management software market is segmented into life sciences, retail, manufacturing, and others. Geographically, the artwork management software market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
- Rising pharma and life science business
- Growing FMCG industry at a global scale
- Common artwork management challenges
- Adoption of cloud-based artwork management platform
- Emergence of new and sophisticated technologies
- enLabel Global Services
- Karomi Inc
- Loftware, Inc
- Perigord Life Science Solutions
- Esko-Graphics BV
- GreatFour Systems
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