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Healthcare And Laboratory Labels Global Market Report 2024 - By Demand, Size, Share, Trends, Forecast To 2033
Healthcare And Laboratory Labels Market
As per the report, the healthcare and laboratory labels market size has grown steadily in recent years. It will grow from $9.74 billion in 2023 to $10.21 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The healthcare and laboratory labels market size is expected to see strong growth in the next few years. It will grow to $12.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
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Rising Demand For Pharmaceutical Products
Rising demand for pharmaceutical products is expected to propel the growth of the healthcare and laboratory labels market going forward. Pharmaceutical products refer to substances or compounds formulated and manufactured to prevent, diagnose, or treat medical conditions. Healthcare and laboratory labels on pharmaceutical products play an important role in providing essential information to healthcare professionals about dosage instructions and potential side effects, ensuring safe and effective medication use. For instance, in February 2023, according to the Merck Group, a Germany-based pharmaceutical company, the company's pharmaceutical product sales for the year 2022 accounted for $59.3 billion, a 22% increase over the full year 2021. Furthermore, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations, a Belgium-based trade association, production in the European pharmaceutical industry increased from $307,575 million (euro 286,697 million) in 2021 to an estimated $321,847 million (euro 300,000 million) in 2022. Therefore, rising demand for pharmaceutical products is driving the growth of the healthcare and laboratory label markets.
Increasing Focus On Introducing Advanced Laboratory Labels To Maximize Revenue
Major companies operating in the healthcare and laboratory labels market are increasing their focus on introducing advanced laboratory labels to maximize their revenues in the market. Advanced laboratory labels are specialized labels designed for use in laboratory settings. These labels are crucial for identifying and tracking laboratory samples, equipment, and other items. For instance, in April 2023, Brady Corporation, a US-based equipment manufacturing company, launched the Matt White Polypropylene RFID (Radio Frequency Identification) petri dish label for laboratories. This label measures 65 x 6 mm and can be easily attached to delicate and expensive lab equipment, including petri dishes. It is designed to be used in extreme temperatures and chemical environments, making it ideal for tracking lab samples and equipment. The label is made of a durable polypropylene material that can withstand temperatures up to 185°F as well as chemicals such as acids and bases. Moreover, it is water-resistant and can be autoclaved. The label is equipped with an RFID chip that can be scanned to quickly and easily identify the sample or equipment it is attached to.
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
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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
Contents of the report:
1. Executive Summary
2. Healthcare And Laboratory Labels Market Report Structure
3. Healthcare And Laboratory Labels Market Trends And Strategies
4. Healthcare And Laboratory Labels Market - Macro Economic Scenario
5. Healthcare And Laboratory Labels Market Size And Growth
…..
27. Healthcare And Laboratory Labels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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