Global Healthcare and Laboratory Label Market – Industry Trends and Forecast to 2029

Global Healthcare and Laboratory Label Market, By Product Type (Nylon, Polyester, Polyolefin, Vinyl, Paper, Others), Application (Pharmaceutical, Nutraceutical, Medical Devices, Blood Bank, Hospital Services, Laboratory Labels) – Industry Trends and Forecast to 2029.

Healthcare and Laboratory Label Market Analysis and Size

Labeling is an essential part of healthcare and laboratory products packaging, which helps to describe the products, provide complete information of the products and make the packaging attractive for the customers. Sticker labeling is the crucial component for any product, which helps to convey the product's authenticity and integrity for the consumers. The absence of labeling can decrease the efficiency and global reach of the companies, and unlabelled products will take a lot of effort to manage and track and manage the inventory. The usage of healthcare and laboratory label in medical industries makes the packaging more attractive and informative for consumers.

Data Bridge Market Research analyses that the healthcare and laboratory label market was valued at USD 8.90 billion in 2021 and is expected to reach USD 13.35 billion by 2029, registering a CAGR of 5.20% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Healthcare and Laboratory Label Market Scope and Segmentation

Market Definition

Healthcare and laboratory labels make communication easier for healthcare professionals and patients, which is important for patient wellness. Healthcare facilities frequently employ labels for patient identification, infection control and medical purposes, charts and blood bags. Similarly, laboratory labels are used for sample identification, tracking, and facility or lab communication. These labels, created with specific adhesive qualities. These labels are also used to label test tubes, blood bags, tubules, or poisonous compounds to avoid unintentional abuse and facilitate the identification.

Global Healthcare and Laboratory Label Market Dynamics

Drivers 

• Surging adoption of medical devices in medical industry

Medical industry is progressively adopting medical device labels due to the fact that clinical experiments can take place in several locations across the globe. The rising demand to print the information related to finding the medical device, handling, storage & transportation in several languages. The growing adoption of medical devices in medical industry is anticipated to propel the growth of the healthcare and laboratory label market.

• Rising demand for superior adhesive labelling

Medical and laboratory products are put under several environmental conditions, such as freezing and refrigeration, and thus, labels are likely to fulfil adhesive requirements, such as resistance to chemicals and smudging, easy of dispensing, and clear graphics. The rising demand for superior adhesive labeling are expected to drive the growth of the targeted market during forecast period.

Opportunities

• Millennials prioritizing Healthcare Labelling

With each passing decade, Millennials are drifting more towards trends. Brands in the healthcare sector ought to prepare for millennial attitudes and behaviors regarding how they research and consume healthcare products before making purchase decisions. They like to interrelate with the brands that are maintain and open transparency by addressing socioeconomic and environmental issues. This offers the brand owner's immense opportunity to adopt something different like app based labelling solutions, which can easily find information about the product in detail.

• Developed highly efficient labels

Labels can be applied in any method by using appropriate machines to attain high speed for labelling applications. So, the manufacturers have developed advanced healthcare and laboratory labels that promote their product correctly. This labelling is aiding tracking the medical devices and healthcare products before reaching the end-user, creating beneficial opportunities for the market.

Restraints/ Challenges

The changing end-user requirements along with the pharmaceutical dimension, labels or medical device, material and printing are the major factors that act as market restraints and will further challenge the growth of healthcare and laboratory label market.

Furthermore, another factor that can hinder the revenue growth of the market to a certain extent is the size of labelling which limits the amount of data to be printed, which adds to operational costs. 

This healthcare and laboratory label market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare and laboratory label market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Healthcare and Laboratory Label Market

The outbreak of COVID-19 has led to a sea change in consumers' priorities and preferences as the focus now shifts towards using contactless healthcare and advanced technology. Digital integration in the healthcare and laboratory labels is expected to increase the demand of contact-less healthcare as it simply transfers data to the healthcare employees by minimalizing the contact with infected patient. Furthermore, the data collected from the infected patient is very significant for the future and ongoing research on the virus. With increasing infection rates of various ailments and limited healthcare professionals, it has become more difficult to trace, track, and record data. Healthcare and laboratory labels are being extensively used in the present situation, right from admission to hospitals to swab testing.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In April 2021: Multi-Color Corporation (MCC) waa purchased Herrods, New Zealand, and an Australian-based developer of in-mold label solutions (IML). This company is a top supplier of label solutions for a variety of sector. This purchase would be expected to increase their product offering and generate new chances for the growth of local and worldwide.
• In January 2022: Loftware Inc. acquired PRISYM ID, a supplier and a solution producer for managing regulated labels and content for hospitals and labs. With the help of this PRISYM ID's sophisticated clinical trial labelling. This purchase is expected to expand its labeling solutions for the medical device and pharmaceutical sectors.

Global Healthcare and Laboratory Label Market Scope

The healthcare and laboratory label market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

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

Application

• Pharmaceutical
• Nutraceutical
• Medical Devices
• Blood Bank
• Hospital Services
• Laboratory Labels

Healthcare and Laboratory Label Market Regional Analysis/Insights

The healthcare and laboratory label market is analysed and market size insights and trends are provided by country, product type and application as referenced above.

The countries covered in the healthcare and laboratory label market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

North America dominates the healthcare and laboratory label market in terms of market share. This is due to the high investment in research and development activities and well-established healthcare industry in in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period due to the increasing focus of global manufacturers towards healthcare and laboratory label market and growing healthcare sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Healthcare and Laboratory Label Market Share Analysis

The healthcare and laboratory label market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare and laboratory label market.

Some of the major players operating in the healthcare and laboratory label market are:

• 3M (U.S.)
• AVERY DENNISON CORPORATION (U.S.)
• Weber (China)
• Diagramm Halbach GmbH & Co. KG (Germany)
• Aenova Group GmbH (Germany)
• UPM (Finland)
• Brady Worldwide Inc, (U.S.)
• Schreiner Group (Germany)
• Adampak (Singapore)
• LabTag (Canada)
• Sine-Tific Solutions, Inc, (U.S.)
• Avalon Labels. (U.S.)
• Lustre-Cal LLC (U.S.)
• HCL Labels Inc. (U.S.)
• SATO Holdings Corporation (Japan)
• CCL Industries (Canada)