What are the latest figures on the healthcare and laboratory labels market’s size and projected CAGR?
The healthcare and laboratory labels market size has grown steadily in recent years. It will grow from $10.21 billion in 2024 to $10.68 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to increasing regulatory complexity, rise in data security concerns, audit and reporting requirements, quality improvement initiatives, penalties for non-compliance.
The healthcare and laboratory labels market size is expected to see strong growth in the next few years. It will grow to $13.17 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to evolution of regulatory landscape, increased emphasis on patient privacy, interoperability requirements, rising cybersecurity threats, focus on value-based care. Major trends in the forecast period include remote healthcare services, digital transformation in healthcare, focus on cloud-based solutions, interoperability and integration with ehr systems, emphasis on data security and privacy.
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How have varous drivers impacted the growth of the healthcare and laboratory labels market?
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 previous year. 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 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.
What are the primary segments of the healthcare and laboratory labels market?
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
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Which firms are leading 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
How will industry trends affect the trajectory of the healthcare and laboratory labels market?
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.
Which geographic trends are shaping the healthcare and laboratory labels market, and which region has the highest market share?
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.
What Does The Healthcare And Laboratory Labels Market Report 2025 Offer?
The healthcare and laboratory labels market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Healthcare and laboratory labels refer to specialized labels used in the healthcare and laboratory industries to identify and track various items, including medical equipment, instruments, and samples. These labels are designed to withstand harsh environments and provide accurate information to healthcare professionals.
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