Healthcare and Laboratory Labels Market to Hit USD 14.89 Billion by 2033, Driven by 4.5% CAGR Growth

The global healthcare and laboratory labels market is to be worth USD 9.59 billion in 2023 and is likely to be around USD 14.89 billion by 2033, developing at a 4.5% CAGR between 2023 and 2033. By 2023, the market is to significantly rise at a 4.1% annual growth rate.

The skyrocketing demand for pharmaceutical products, as well as the introduction of new items, may propel market expansion shortly. In terms of expanding demand for labelling, the pressure-sensitive labels and labeling tapes industry is rising more significantly than all other industries.

Labels for medical and laboratory products are likely to meet adhesive criteria such as resistance to chemicals and smearing, ease of dispensing, and clear images because they are frequently exposed to harsh climatic conditions, such as freezing and refrigeration. Throughout the forecast period, a growing demand for superior adhesive medical laboratory labels may likely accelerate healthcare and laboratory labels market expansion.

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Market Revenue for Healthcare and Laboratory Labels Worldwide is powered by Application Category

The pharmaceutical section is anticipated to account for the significant revenue share during the projection period, based on application. This can be ascribed to elements including expanding pharmaceutical product demand, strict Food and Drug Administration (FDA) regulations, increasing the number of new product launches, and rising investments in medication discovery.

There is the practice of attaching medical-grade laboratory labels to items so that end users may understand critical product information is referred to as pharmaceutical labeling.

Key Takeaways

• The Polyolefin segment in the material category is to advance at a CAGR of 5% from 2023 to 2033, worth USD 4.02 billion by 2023.
• The laboratory segment in the end user category is to develop at a CAGR of 5.4% between 2023 and 2033, worth USD 2.46 billion by 2023.
• The paper segment in the material category of the healthcare and laboratory labels industry is to acquire a market share of 64.9% by 2023.
• The Pharmaceutical segment, in the end, user category is to grab a market share of 30.1% by 2023.
• The United States to capture a CAGR of 3.7% between 2023 and 2033, worth USD 3,862.9 million in 2023.
• German healthcare and laboratory labels industry to advance at a CAGR of 3.6% from 2023 to 2033, reaching USD 686.4 million in 2023.
• India is to expand at a CAGR of 7.4% during the forecast period, worth USD 2354.7 million by 2023.
• China healthcare and laboratory labels market is to expand at a CAGR of 6% from 2023 to 2033, reaching USD 2332 million in 2023.
• The United States to obtain 89.4% of the market share by 2023.
• Germany healthcare and laboratory labels industry to hold a market share of 21.7% by 2023.
• France to secure a market share of 16.8% by 2023.
• India is to witness 79.6% of the market share by 2023.
• China healthcare and laboratory labels industry to grab a market share of 56.1% by 2023.

Economic Analysis

The healthcare and laboratory label manufacturers that operate in this market are very focused on mergers and acquisitions to accelerate healthcare and laboratory labels market expansion in the upcoming year. Healthcare and laboratory label manufacturers are concentrating on the rollout of novel goods to create and acquire a global footprint.

Key Players

• Avery Dennison Corporation
• CCL Industries Inc.
• 3M Company
• Multi-Color Corporation
• UPM Raflatac Corporation
• Brady Corporation
• Sato Holdings Corporation
• Weber Packaging Solutions, Inc.
• Schreiner Group GmbH & Co.
• Diagramm Halbach GmbH & Co KG
• GA International Inc.
• General Data Co. Inc.
• Caresfield LLC

Recent Development:

• Multi-Color Corporation (MCC), a major producer of label solutions for a variety of industries, purchased Herrods, an in-mold label solutions (IML) provider in Australia and New Zealand, in April 2021.
• Loftware Inc. announced the acquisition of PRISYM ID, a producer and distributor of regulated content and label management solutions for medical centres and laboratories, in January 2022.
• Schreiner Group established a partnership with RIFD tracking solutions supplier Kit Check in March 2020 to develop RFID-based smart labelling solutions.

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Key Segmentations

By End-user:

• Pharmaceuticals
• Nutraceuticals
• Medical Devices
• Blood Banks
• Hospital Services
• Laboratories

By Material:

• Nylon
• Polyester
• Polyolefin
• Vinyl
• Paper
• Others

By Region:

• North America
• Latin America
• Europe
• South East Asia
• East Asia
• Oceania
• Middle East Asia

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