The healthcare and laboratory label industry in Korea is poised to rise at a CAGR of 5.1% through 2034. The industry in Korea is standing at the threshold of significant prospects, starting with a valuation of US$ 305.6 million in 2024.
Increased adoption of laboratory automation systems is anticipated to create opportunities for specialized labels used in automated processes, such as labeling of samples and specimens. The demand for healthcare and laboratory labels in Korea is likely to yield a value of US$ 504.2 million by 2034.
Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size in 2024 | US$ 305.6 million |
| Expected Industry Size in 2034 | US$ 504.2 million |
| Forecasted CAGR from 2024 to 2034 | 5.1% |
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Plastic labels are known for their durability and resilience, making them suitable for various applications in healthcare and laboratory settings where labels may be exposed to harsh conditions, chemicals, or varying temperatures.
| Healthcare and Laboratory Label in Korea based on Material | Plastic |
|---|---|
| Share in % in 2024 | 61.6% |
In terms of material, the plastic segment is expected to account for a share of 61.6% in 2024. Plastic labels, particularly those made from materials like polyethylene or polypropylene, offer excellent resistance to moisture. The plastic labels can maintain their integrity, in laboratory environments or healthcare settings with high humidity or exposure to liquids.
Plastic labels can be easily customized to meet specific requirements, and they often offer high-quality printing capabilities, which is crucial in the healthcare and laboratory sectors where accurate and legible information is paramount.
Pharmaceutical labels play a crucial role in product identification, providing essential information such as dosage instructions, expiration dates, batch numbers, and barcodes, which aids in traceability and help prevent medication errors.
| Healthcare and Laboratory Label in Korea based on End Use | Pharmaceutical |
|---|---|
| Share in % in 2024 | 28.6% |
Based on end use, the pharmaceutical segment is expected to account for a share of 28.6% in 2024. The pharmaceutical industry faces challenges related to counterfeit drugs. Advanced labeling technologies, including features like holograms, QR codes, and tamper evident labels, contribute to preventing counterfeiting and ensuring the authenticity of pharmaceutical products.
Labels on pharmaceutical products convey vital information to healthcare professionals and patients. Clear and comprehensive labeling enhances patient safety by providing accurate instructions, potential side effects, and other essential details.
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Investments in healthcare infrastructure, including hospitals, laboratories, and clinics, can drive the demand for labels used in medical equipment, pharmaceuticals, and laboratory specimen tracking.
Robust research and development activities in the region, especially in the life sciences and healthcare sectors, can lead to increased demand for labeling solutions for research documentation and specimen management.
Participation in clinical trials and medical research studies can boost the demand for labeling solutions for investigational drugs, medical devices, and research documentation.
Adoption of advanced technologies in healthcare, such as telehealth, digital health records, and automated laboratory processes, is anticipated to drive the need for modern labeling solutions that integrate with these technologies.
Support from local and national government initiatives aimed at healthcare modernization and research funding can create opportunities for the healthcare and laboratory label industry.
A growing emphasis on patient safety in healthcare practices can lead to increased demand for accurate and compliant labeling solutions to reduce the risk of errors.
The healthcare and laboratory label industry in Korea is likely characterized by a mix of domestic and international players offering a range of labeling solutions for the healthcare and laboratory sectors. The landscape is influenced by various factors, including industry consolidation, technological advancements, regulatory compliance, and the ability to provide innovative and customizable labeling solutions.
Company Portfolio of Healthcare and Laboratory Label Industry in Korea
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | US$ 305.6 million |
| Projected Industry Size in 2034 | US$ 504.2 million |
| Anticipated CAGR from 2024 to 2034 | 5.1% |
| Historical Analysis of Demand for Healthcare and Laboratory Label in Korea | 2019 to 2023 |
| Demand Forecast for Healthcare and Laboratory Label in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the demand for healthcare and laboratory label in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Providers in Korea |
| Key Provinces Analyzed while Studying Opportunities in Healthcare and Laboratory Label in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Avery Dennison Corporation; CCL Industries Inc.; 3M Company; Multi Color Corporation; Brady Corporation; Sato Holdings Corporation; Weber Packaging Solutions, Inc.; Schreiner Group GmbH & Co.; GA International Inc.; General Data Co. Inc.; Caresfield LLC |
The healthcare and laboratory label industry in Korea is to be valued at US$ 305.6 million by 2024.
The healthcare and laboratory label ecosystem in Korea is anticipated to incline at a CAGR of 5.1% from 2024 to 2034.
Demand for healthcare and laboratory label in Korea is expected to reach US$ 504.2 million by 2034.
Plastic is expected to be highly preferred, comprising 61.6% of total demand in 2024.
Pharmaceutical to boost the demand for the healthcare and laboratory label in Korea, comprising 28.6% of all end uses.
1. Executive Summary 1.1. Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Material 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2024 to 2034 5.3.1. Nylon 5.3.2. Polyester 5.3.3. Polyolefin 5.3.4. Vinyl 5.3.5. Paper 5.3.6. Others 5.4. Y-o-Y Growth Trend Analysis By Material, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Material, 2024 to 2034 6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By End-user 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-user, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-user, 2024 to 2034 6.3.1. Pharmaceuticals 6.3.2. Nutraceuticals 6.3.3. Medical Devices 6.3.4. Blood Banks 6.3.5. Hospital Services 6.3.6. Laboratories 6.4. Y-o-Y Growth Trend Analysis By End-user, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By End-user, 2024 to 2034 7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 7.3.1. South Gyeongsang 7.3.2. North Jeolla 7.3.3. South Jeolla 7.3.4. Jeju 7.3.5. Rest of Korea 7.4. Market Attractiveness Analysis By Region 8. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Material 8.2.2. By End-user 8.3. Market Attractiveness Analysis 8.3.1. By Material 8.3.2. By End-user 8.4. Key Takeaways 9. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Material 9.2.2. By End-user 9.3. Market Attractiveness Analysis 9.3.1. By Material 9.3.2. By End-user 9.4. Key Takeaways 10. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Material 10.2.2. By End-user 10.3. Market Attractiveness Analysis 10.3.1. By Material 10.3.2. By End-user 10.4. Key Takeaways 11. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Material 11.2.2. By End-user 11.3. Market Attractiveness Analysis 11.3.1. By Material 11.3.2. By End-user 11.4. Key Takeaways 12. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Material 12.2.2. By End-user 12.3. Market Attractiveness Analysis 12.3.1. By Material 12.3.2. By End-user 12.4. Key Takeaways 13. Market Structure Analysis 13.1. Competition Dashboard 13.2. Competition Benchmarking 13.3. Market Share Analysis of Top Players 13.3.1. By Regional 13.3.2. By Material 13.3.3. By End-user 14. Competition Analysis 14.1. Competition Deep Dive 14.1.1. Avery Dennison Corporation 14.1.1.1. Overview 14.1.1.2. Product Portfolio 14.1.1.3. Profitability by Market Segments 14.1.1.4. Sales Footprint 14.1.1.5. Strategy Overview 14.1.1.5.1. Marketing Strategy 14.1.1.5.2. Product Strategy 14.1.1.5.3. Channel Strategy 14.1.2. CCL Industries Inc. 14.1.2.1. Overview 14.1.2.2. Product Portfolio 14.1.2.3. Profitability by Market Segments 14.1.2.4. Sales Footprint 14.1.2.5. Strategy Overview 14.1.2.5.1. Marketing Strategy 14.1.2.5.2. Product Strategy 14.1.2.5.3. Channel Strategy 14.1.3. 3M Company 14.1.3.1. Overview 14.1.3.2. Product Portfolio 14.1.3.3. Profitability by Market Segments 14.1.3.4. Sales Footprint 14.1.3.5. Strategy Overview 14.1.3.5.1. Marketing Strategy 14.1.3.5.2. Product Strategy 14.1.3.5.3. Channel Strategy 14.1.4. Multi-Color Corporation 14.1.4.1. Overview 14.1.4.2. Product Portfolio 14.1.4.3. Profitability by Market Segments 14.1.4.4. Sales Footprint 14.1.4.5. Strategy Overview 14.1.4.5.1. Marketing Strategy 14.1.4.5.2. Product Strategy 14.1.4.5.3. Channel Strategy 14.1.5. Brady Corporation 14.1.5.1. Overview 14.1.5.2. Product Portfolio 14.1.5.3. Profitability by Market Segments 14.1.5.4. Sales Footprint 14.1.5.5. Strategy Overview 14.1.5.5.1. Marketing Strategy 14.1.5.5.2. Product Strategy 14.1.5.5.3. Channel Strategy 14.1.6. Sato Holdings Corporation 14.1.6.1. Overview 14.1.6.2. Product Portfolio 14.1.6.3. Profitability by Market Segments 14.1.6.4. Sales Footprint 14.1.6.5. Strategy Overview 14.1.6.5.1. Marketing Strategy 14.1.6.5.2. Product Strategy 14.1.6.5.3. Channel Strategy 14.1.7. Weber Packaging Solutions, Inc. 14.1.7.1. Overview 14.1.7.2. Product Portfolio 14.1.7.3. Profitability by Market Segments 14.1.7.4. Sales Footprint 14.1.7.5. Strategy Overview 14.1.7.5.1. Marketing Strategy 14.1.7.5.2. Product Strategy 14.1.7.5.3. Channel Strategy 14.1.8. Schreiner Group GmbH & Co. 14.1.8.1. Overview 14.1.8.2. Product Portfolio 14.1.8.3. Profitability by Market Segments 14.1.8.4. Sales Footprint 14.1.8.5. Strategy Overview 14.1.8.5.1. Marketing Strategy 14.1.8.5.2. Product Strategy 14.1.8.5.3. Channel Strategy 14.1.9. GA International Inc. 14.1.9.1. Overview 14.1.9.2. Product Portfolio 14.1.9.3. Profitability by Market Segments 14.1.9.4. Sales Footprint 14.1.9.5. Strategy Overview 14.1.9.5.1. Marketing Strategy 14.1.9.5.2. Product Strategy 14.1.9.5.3. Channel Strategy 14.1.10. General Data Co. Inc. 14.1.10.1. Overview 14.1.10.2. Product Portfolio 14.1.10.3. Profitability by Market Segments 14.1.10.4. Sales Footprint 14.1.10.5. Strategy Overview 14.1.10.5.1. Marketing Strategy 14.1.10.5.2. Product Strategy 14.1.10.5.3. Channel Strategy 14.1.11. Caresfield LLC 14.1.11.1. Overview 14.1.11.2. Product Portfolio 14.1.11.3. Profitability by Market Segments 14.1.11.4. Sales Footprint 14.1.11.5. Strategy Overview 14.1.11.5.1. Marketing Strategy 14.1.11.5.2. Product Strategy 14.1.11.5.3. Channel Strategy 15. Assumptions & Acronyms Used 16. Research Methodology
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Healthcare and Laboratory Label Industry Analysis in Korea
