DUBAI, U.A.E., Sept. 28, 2020 /PRNewswire/ — Future Market Insights (FMI) anticipates global healthcare and laboratory labels market to grow at a stable CAGR of 4.8% over the projected period 2020-2030. Growing demand for simple yet efficient informatory solutions in the healthcare scenario concerning medical devices, diagnostic samples, drugs, etc. is projected to stay the chief growth attribute to the market for healthcare & laboratory labels. The COVID-19 outbreak has egressed as lucrative growth prospects for market players, generating an unprecedented demand for labeling testing samples of COVID-19.
“Companies operating in the market are focusing on launching smart labeling solutions to remain integral with the ever-evolving customer demands and regulatory guidelines, which additionally ascertains a robust foothold,” remarks FMI analyst.
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Healthcare and Laboratory Labels Market – Key Takeaways
The global healthcare & laboratory labels market is anticipated to account for a market valuation of US$ 22,700 Million towards 2030 end.
Based on materials, the paper will stay the most sought out over the assessment period, holding about 2/3rd of the global market value share.
In terms of end-user, the pharmaceuticals and nutraceuticals industries will jointly hold nearly 50% of the global market.
Healthcare and Laboratory Labels Market- Key Trends
Provisions to offer product safety and user-friendliness boosts demand for healthcare & laboratory labels market.
The surging number of preventable deaths and errors is impelling the demand for correct labeling of medical specimens and drugs across laboratories and healthcare institutions, thus complementing the market growth.
Printed labels will support growth foreseen in the market owing to durability in ink and easily readable information.
Healthcare and Laboratory Labels Market- Regional Analysis
With the presence of strict regulatory frameworks such as FDA, North America dominated by the US will prevail in the biggest regional market.
South Asia, East Asia, and Oceania will jointly hold around 50% of the global market value, wherein South Asia will record tremendous growth prospects, expanding at a CAGR of value 7.5%.
France and Germany will continue to impart lucrative revenue prospects to European market players
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Healthcare and Laboratory Labels Market- Competitive Landscape
The competitive backdrop of the healthcare & laboratory labels market exhibits a fragmented structure with an equal base for both emerging and established players. Market players will imbibe product tracing and tracking features in their offerings as well as are adopting NFC and UHF technologies to achieve the same. Furthermore, players are strategizing on having a wide product line and partnerships and collaborations to determine the competitive landscape in the market. For instance
Schreiner Group collaborated with Kit Check an automated medication management service provider, to build-up innovative intelligent labeling solutions.
Leading players identified in the global healthcare & laboratory labels market include CCL Industries Inc, Avery Dennison Corporation, 3M Company, UPM Raflatac Corporation, Multi-Color Corporation, Brady Corporation, Weber Packaging Solutions, Inc., Sato Holdings Corporation, KG Diagramm, Schreiner Group GmbH & Co., Halbach GmbH & Co., KG The Aenova Group, Medline Industries, Inc., Shamrock Labels, United Ad Label, PlatinumCode, Adampak Pte Ltd., Limited Majestic Labels, Advance labeling Systems, Chicago Tag & Label, Inc. and CC QLM Label Makers Pte Ltd.
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Healthcare and Laboratory Labels Market- Taxonomy
Middle East & Africa
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Get Valuable Insights into the Healthcare and Laboratory Labels Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global healthcare and laboratory labels market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the healthcare and laboratory labels market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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