I had a discussion with ScottR about this before. As a retired chemist, I was only familiar with the one on the right in your picture (with the paper backing). It seems to me that it stretches much more and forms better around an irregular object. It's certainly not meant to be a substitute for something like a rubber band or other method of holding a graft until healed, but it is great for sealing scions to prevent them from drying out. It's the only kind I use.
I think, but will not swear to it, that the standard laboratory parafilm is cheaper than the species marketed as grafting tape. I have a 2" wide, 250 ft. roll that will last me many, many years. I think I paid around $25 for it.