The global healthcare and laboratory labels market is expected to grow at a CAGR of 5.3% from 2020 to 2027 and expected to reach around US$ 8,233.4 Mn by 2027.
Healthcare and laboratory labels are used by the medical professionals to identify and track laboratory samples as well as for effective communication throughout a medical lab and facility. These can accurately identify patients, specimens, and blood units to improve patient safety, workflow efficiency, communication, and regulatory compliance. Additionally, these are used in cryogenic applications that require long-term storage conditions.
The increasing research activities across the healthcare sector are primarily driving the market growth. The increasing demand for labeling along with the increasing demand for pharmaceutical products is supporting market growth. Ongoing developments in labeling technologies are further propelling market growth. Whereas, the development of new drugs and formulations owing to the rising need for advanced pharmaceutical products and improved healthcare services is anticipated to create potential demand over the estimated period from 2020 to 2027.
On the other hand, changing end-user requirements associated with the medical device or pharmaceutical labels, material, dimension, and printing is projected to restrict the growth.
Pharmaceutical label projected to register maximum share over the estimated period
The pharmaceutical label segment is projected to account for the major share in the global market over the estimated period from 2020 to 2027. The pharmaceutical label refers to all the printed information over the medicine or prescription drug. These are strictly regulated by the FDA and provide lots of useful information associated with the company's products. Legislative requirements, multilingual demands, and brand security are the important factors taken into consideration while designing or printing a pharmaceutical label. In the case of pharmaceutical labels, end users are more concerned with straight facts and information, as well as adherence to regulations instead of graphics that pop. The increasing number of launched products, specialty medicines sector, and competition among manufacturers is accelerating the pharmaceutical label growth.
The market research study on “Healthcare and Laboratory Labels Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Healthcare and Laboratory Labels market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Healthcare and Laboratory Labels market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Healthcare and Laboratory Labels market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Healthcare and Laboratory Labels market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
North America accounted for the major share in the global market
In 2019, North America accounted for the major share in the market owing to the well-established healthcare industry in the regional market. The region is also projected to maintain its dominance over the estimated period. The well-established healthcare infrastructure and high investment in research and development activities in the regional market is supporting the regional market value. Apart from this, Asia Pacific is projected to exhibit the fastest growth over the estimated period from 2020 to 2027. The growing healthcare sector coupled with the increasing focus of global manufacturers in the regional market is further supporting the market value.
The players profiled in the report include 3M, Aenova, Avery Dennison, BRADY, CCL, Diagramm Halbach, Multi-Color, Schreiner, UPM Raflatac, Weber.
Market By Product Type
Market By Application
Market By Geography
Middle East & Africa
The market for healthcare and laboratory labels is expected to reach the market value of around US$ 8,233.4 Mn by 2027.
The healthcare and laboratory labels market is expected to grow at a CAGR of around 5.3% from 2020 to 2027.
The pharmaceutical label segment is leading the global healthcare and laboratory labels market.
Increasing research activities across the healthcare sector, increasing demand for labeling along with the increasing demand for pharmaceutical products, ongoing developments in labeling technologies are some of the factors supporting the market value.
3M, Aenova, Avery Dennison, BRADY, CCL, Diagramm Halbach, Multi-Color, Schreiner, UPM Raflatac, Weber are some of the major players in the market.
North America region held the maximum market share in the healthcare and laboratory labels market.
Asia Pacific is expected to be the fastest growing market over the forecast period.