What Is The Current and Historic Market Size Analysis Of The Healthcare And Laboratory Labels Market?
The healthcare and laboratory labels market has seen considerable growth due to a variety of factors.
• The market size of healthcare and laboratory labels has experienced consistent growth over the past few years. The industry is projected to expand from $10.21 billion in 2024 to $10.68 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.6%.
The past growth has been fueled by increasing regulatory challenges, growing concerns about data security, the necessity for audits and reports, initiatives to improve quality, and penalties for non-compliance.
What Is The Forecast For The Healthcare And Laboratory Labels Market Size?
The healthcare and laboratory labels market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience robust growth in the coming years, the healthcare and laboratory labels market is predicted to increase to $13.17 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%.
Factors such as the changing regulatory environment, a heightened focus on patient privacy, requirements for interoperability, an escalation of cybersecurity threats, and a shift towards value-based care are all contributing to this forecast period growth. Key trends for this phase include an increase in remote healthcare services, the digitization of healthcare, a focus on cloud-based solutions, integration with electronic health record (EHR) systems, and an emphasis on data security and privacy.
What Are The Essential Drivers Behind The Growth Of The Healthcare And Laboratory Labels Market?
The healthcare and laboratory labels sector is anticipated to flourish due to the growing demand for pharmaceutical products. These products, designed to diagnose, prevent or treat diseases, require healthcare and laboratory labels for conveying critical data such as dosage guidelines and potential side effects to healthcare providers, thus promoting safe and efficient use of medication. For instance, as per Germany's Merck Group, a pharmaceutical enterprise, their 2022 pharma product sales touched $59.3 billion, marking a 22% growth from the previous year. Also, based on data from the Belgium-based trade group European Federation of Pharmaceutical Industries and Associations, the annual production in Europe's pharma sector soared to approximately $321,847 million (euro 300,000 million) in 2022. Therefore, the growing demand for pharmaceutical commodities serves as a growth engine for the healthcare and laboratory labels market.
Healthcare And Laboratory Labels Market Driver: Growth in E-Commerce Bolsters Healthcare And Laboratory Label Market
How Is The Global Healthcare And Laboratory Labels Market Divided Into Key Segments?
The healthcare and laboratory labels market covered in this report is segmented –
1) By Material: Nylon, Polyester, Polyolefin, Vinyl, Paper, Other Materials
2) By Technology: Thermal Transfer, Direct Thermal, Laser, Inkjet
3) By End-User: Pharmaceuticals, Nutraceuticals, Medical Device, Blood Banks, Hospital Services, Laboratories
Subsegments:
1) By Nylon: Nylon-Based Medical Labels, Nylon-Based Laboratory Labels
2) By Polyester: Polyester Medical Labels, Polyester Laboratory Labels
3) By Polyolefin: Polyolefin Medical Labels, Polyolefin Laboratory Labels
4) By Vinyl: Vinyl Medical Labels, Vinyl Laboratory Labels
5) By Paper: Paper Medical Labels, Paper Laboratory Labels
6) By Other Materials: Polyimide, Polyethylene, Specialty Materials
Pre-Book The Healthcare And Laboratory Labels Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Healthcare And Laboratory Labels Market?
Major firms in the healthcare and laboratory labels sector are making a strategic shift towards the production of sophisticated laboratory labels in order to boost their market earnings. These unique labels, designed specifically for lab environments, play a vital role in labeling and tracking laboratory specimen, apparatus, and other items. For example, Brady Corporation, a leading equipment manufacturer from the United States, released a Matt White Polypropylene RFID (Radio Frequency Identification) label for petri dishes used in labs in April 2023. With dimensions of 65 x 6 mm, this label can be attached effortlessly to delicate and high-value lab tools including petri dishes. Crafted for use under severe temperature and chemical conditions, it is perfect for monitoring laboratory specimens and devices. Made from durable polypropylene material, the label can endure temperatures of up to 185°F as well as harsh chemicals such as acids and bases. The labels are also water-proof and can be sterlized using autoclaves. Additionally, an RFID chip embedded in the label allows for simple and fast identification of the attached sample or device.
Who Are the Key Players In The Healthcare And Laboratory Labels Market?
Major companies operating in the healthcare and laboratory labels market report are:
• Cardinal Health Inc.
• 3M Company
• UPM Raflatac
• Avery Dennison Corporation
• CCL Industries Inc.
• Zebra Technologies Corporation
• Steris Corporation
• Multi-Color Corporation
• Brady Corporation
• Aenova Group
• Schreiner Group
• Resource Label Group
• General Data Company
• Sato America LLC
• Caresfield
• Tekra Corporation
• PlatinumCode
• Rippedsheets.com
• ID Technology
• Shamrock Labels
• Tapecon Inc.
• DuraFast Label Company
• Weber Packaging Solutions Inc.
• United Ad Label
• LabTAG
• NeuraLabel Printing Solutions
• Optimedia Labs Inc.
• Consolidated Label Co.
• Coast Label Company
• Watson Label Products
What Are The Regional Insights Into The Healthcare And Laboratory Labels Market?
North America was the largest region in the healthcare and laboratory labels market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare and laboratory labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
