The healthcare and laboratory labels global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Healthcare And Laboratory Labels Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
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 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 $12.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. 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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Scope Of Healthcare And Laboratory Labels Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Healthcare And Laboratory Labels Market Overview
Market Drivers –
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.
Market Trends —
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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Regional Insights —
North America was the largest region in the healthcare and laboratory labels market in 2023. 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.
Key Companies —
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
Table of Contents
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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