The global Healthcare And Laboratory Labels Market is to be worth USD 9.59 billion in 2023 and USD 14.89 billion by 2033, growing at a 4.5% CAGR between 2023 and 2033. The market is likely to grow at a 4.1% annual pace by 2023.
The rising demand for pharmaceutical products, as well as the launch of new products, may drive market expansion in the near future. The pressure-sensitive labels and labeling tapes sector is to grow much faster than all other industries in terms of rising labeling demand.
During the course of the forecast period, factors such a high frequency of diseases, an increase in hospital admissions, and an increase in product launches are to fuel market revenue growth. In the healthcare and pharmaceutical industries, labels are crucial.
In numerous clinical cares, administrative, and operational domains, medical laboratory labels and laboratory equipment are utilized to improve patient safety.
There are numerous medical laboratory labels available to streamline workflow, increase effectiveness and patient safety, lessen mistakes, secure and manage medical data, and organize patient records and paperwork. The medical laboratory labels are utilized to track instruments and other assets like medical equipment.
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As its name suggests, the UDI (Unique Device Identification) is a method used to identify and mark medical equipment across the healthcare supply chain. A system for uniquely identifying devices was mandated by the US FDA in order to properly identify devices during distribution and usage.
Each UDI shall be made available in plain text and in an automated identification and data capture (AIDC) format.
A device that is intended for more than one use must be directly tagged with the UDI and reprocessed before each use. Device medical laboratory labels and packages must display dates in a uniform manner that adheres to accepted international standards.
Additionally, by advocating for harmonized legislation for Unique Device Identification (UDI), based on international standards, The IMDRF (International Medical Device Regulator Forum) and the European Commission are focusing on a globally consistent and unified approach that is to improve patient safety.
The adoption and integration of UDIs into the health care delivery system may allow for the full realization of the benefits that the unique device identification system offers. The use of UDI is to increase patient safety and promote medical device innovation.
Clinical mobility is going to be the answer to easing the strain on the healthcare system and enhancing patient care throughout the forecasted period. It is predicted that using technology may replace manual and prone to error processes in the healthcare and laboratory labeling industries.
This may improve general visibility and the precision of patient identification escalating the healthcare and laboratory labels market trends.
The precision of patient identification and the efficiency of procedures can both be improved by the use of digital technologies. By sending the data to the clinical team in real time, it is also possible to raise visibility overall and improve the standard of patient care. This can yield crucial time savings by reducing or even eliminating errors.
| Attributes | Details |
|---|---|
| Healthcare and Laboratory Labels Market CAGR (From 2023 to 2033) | 4.5% |
| Healthcare and Laboratory Labels Market CAGR (From 2017 to 2022) | 4.4% |
| Healthcare and Laboratory Labels Market Size (2023) | USD 9.59 billion |
| Healthcare and Laboratory Labels Market Size (2033) | USD 14.89 billion |
| Global Market Y-o-Y Growth | 4.1% |
The onus is on the continued growth of medical devices
Medical device labeling assists patients and caretakers in understanding the device, its functioning and maintenance, how it interacts with the body to achieve its goal, and any safety or disposal issues.
Medical device labeling is critical for ensuring the safe and effective use of equipment. It informs patients or caretakers about the device's correct use, hazards, and benefits in language they can comprehend.
Appropriate operation instructions are required to ensure that the gadgets are safe and functional. For example, as more patients utilize complex medical equipment at home, medical device labeling becomes important to effectively communicate with the person operating the device.
Medical device and healthcare and laboratory labels manufacturers are constantly looking for innovative products, which is why they invest considerably in research and development.
The medical industry's rivalry is also forcing firms to invest extensively in research and development for new or updated technologies. A surge in new discoveries and formulations is driving up global demand for medical-grade laboratory labels.
Brazil, for example, has a considerable development potential in South America, whilst Poland, Hungary, and Russia contribute significantly to the European medical device market.
Due to the possibility of global clinical trials and experimentation, the medical industry is rapidly embracing medical device labeling. As a result, it is necessary to print instructions by laboratory labels printer in several languages about tracing medical devices as well as storage, transportation, and handling.
Principal Consultant
Millennials are becoming more trend-oriented with each passing decade. Healthcare brands should brace themselves for millennial attitudes and habits around how consumers research and consume healthcare items before making purchasing decisions.
People like to interact with firms that promote open transparency by tackling socioeconomic and environmental challenges. This provides the brand owner with a huge opportunity to try something new, such as app-based labeling solutions, which can readily locate detailed information about the product. This brings out new healthcare and laboratory labels market opportunities.
To arrest the momentum, government regulations must be stringent.
Healthcare and laboratory labeling has become problematic for healthcare and laboratory label manufacturers for a variety of reasons, including government rules to assure compliance, greater competent authority surveillance, language needs, and others.
Medical device labeling has become one of the most onerous difficulties for healthcare and laboratory label manufacturers, owing to various countries' emphasis on national language.
Legal issues arise when medical devices and diagnostics are to be sold in both EU and non-EU countries. Labels have limited space and must contain a lot of information. Translations may be required to be technically correct, but they are usually literal.
The standard specifies that markings be placed directly on specific medical devices. In vitro diagnostic (IVD) businesses are considering using separate non- United States and United States labeling.
The labels in the United States may be devoid of symbols, whereas the labels in the rest of the globe may include symbols. Labeling is an important component of a device, and there are extensive standards for marking and labeling.
When these medical-grade laboratory labels do not comply with US FDA rules, the products are considered misbranded, fraudulently labeled, or deceptive, including marketing for unapproved applications. As a result, pressure-sensitive labels and labeling tapes must meet all basic standards, or face fines for noncompliance with the regulations.
Medical device labels makers are additionally constrained by the constantly shifting needs of end users in relation to the materials, dimensions, printing, etc. of medical-grade laboratory labels. State restrictions, text font formats, and variable data printing could have a negative impact on the market.
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| Segment | Pharmaceutical |
|---|---|
| Market Size - 2023 | USD 4,924.7 million |
| Market Share - 2023 | 30.1% |
| HCAGR (2017 to 2022) | 4.6% |
| CAGR (2023 to 2033) | 4.7% |
| Segment | Nutraceutical |
|---|---|
| Market Size - 2023 | USD 3,299.1 million |
| Market Share - 2023 | 20.2% |
| HCAGR (2017 to 2022) | 4.9% |
| CAGR (2023 to 2033) | 5.0% |
| Segment | Medical Devices |
|---|---|
| Market Size - 2023 | USD 2,588.2 million |
| Market Share - 2023 | 15.8% |
| HCAGR (2017 to 2022) | 3.3% |
| CAGR (2023 to 2033) | 3.6% |
| Segment | Blood Bank |
|---|---|
| Market Size - 2023 | USD 1,759.2 million |
| Market Share - 2023 | 10.7% |
| HCAGR (2017 to 2022) | 3.8% |
| CAGR (2023 to 2033) | 3.9% |
| Segment | Hospital Services |
|---|---|
| Market Size - 2023 | USD 1,330.8 million |
| Market Share - 2023 | 8.1% |
| HCAGR (2017 to 2022) | 4.2% |
| CAGR (2023 to 2033) | 4.3% |
| Segment | Laboratory |
|---|---|
| Market Size - 2023 | USD 2,467.4 million |
| Market Share - 2023 | 15.1% |
| HCAGR (2017 to 2022) | 5.3% |
| CAGR (2023 to 2033) | 5.4% |
The many end-users influence the demand for healthcare and laboratory labelling. The demand for healthcare and laboratory labels is projected to be driven by end users such as pharmaceuticals, nutraceuticals, medical devices, blood banks, hospital services, and laboratories.
Demographic developments and socioeconomic changes are increasing strains on health systems and necessitating innovative approaches to healthcare delivery. The ageing of populations in both emerging and developed countries is increasing demand for healthcare.
Substantial rise in the middle-class population has resulted in faster urbanisation and more access to middle-class amenities. This is likely to encourage sedentary lifestyle changes, which may eventually lead to an increase in the prevalence of obesity, diabetes, and other costly health disorders, necessitating more healthcare and laboratory labelling.
| Segment | Polyolefin |
|---|---|
| Market Size - 2023 | USD 4,024.8 million |
| Market Share - 2023 | 24.6% |
| HCAGR (2017 to 2022) | 4.9% |
| CAGR (2023 to 2033) | 5.0% |
| Segment | PET |
|---|---|
| Market Size - 2023 | USD 652.3 million |
| Market Share - 2023 | 4.0% |
| HCAGR (2017 to 2022) | 3.9% |
| CAGR (2023 to 2033) | 4.0% |
| Segment | PVC |
|---|---|
| Market Size - 2023 | USD 334.6 million |
| Market Share - 2023 | 2.0% |
| HCAGR (2017 to 2022) | 4.8% |
| CAGR (2023 to 2033) | 3.9% |
| Segment | Paper |
|---|---|
| Market Size - 2023 | USD 10,630.4 million |
| Market Share - 2023 | 64.9% |
| HCAGR (2017 to 2022) | 4.4% |
| CAGR (2023 to 2033) | 4.5% |
| Segment | Others |
|---|---|
| Market Size - 2023 | USD 727.1 million |
| Market Share - 2023 | 4.4% |
| HCAGR (2017 to 2022) | 2.8% |
| CAGR (2023 to 2033) | 3.2% |
Paper-based labels are predicted to be the popular material type in the healthcare and laboratory labels market, accounting for 64.9% of the value, due to their ease of availability and low cost.
The paper segment is to grow at a 4.5% CAGR during the forecast period, owing to rising demand for paper labels due to their widespread availability, light weight, low manufacturing costs, and eco-friendly nature, as well as a growing preference for recyclable products to address rising plastic pollution and environmental concerns.
Polyolefin-based labels are predicted to grow at a 5% CAGR between 2023 and 2033, owing to rising demand in nutraceutical applications due to their high adhesiveness. In 2023, the segment is to have a market share of 24.6%.
| Country | North America |
|---|---|
| HCAGR (From 2017 to 2022) | 3.7% |
| CAGR (From 2023 to 2033) | 3.7% |
| Market Size - 2023 | USD 4,321.4 million |
| Market Share - 2023 | 26.4% |
| Country | Latin America |
|---|---|
| HCAGR (From 2017 to 2022) | 4.7% |
| CAGR (From 2023 to 2033) | 4.7% |
| Market Size - 2023 | USD 958.0 million |
| Market Share - 2023 | 5.9% |
| Country | Europe |
|---|---|
| HCAGR (From 2017 to 2022) | 3.0% |
| CAGR (From 2023 to 2033) | 3.0% |
| Market Size - 2023 | USD 3,166.2 million |
| Market Share - 2023 | 19.3% |
| Country | South East Asia |
|---|---|
| HCAGR (From 2017 to 2022) | 7.2% |
| CAGR (From 2023 to 2033) | 7.2% |
| Market Size - 2023 | USD 2,956.3 million |
| Market Share - 2023 | 18.1% |
| Country | East Asia |
|---|---|
| HCAGR (From 2017 to 2022) | 4.8% |
| CAGR (From 2023 to 2033) | 4.8% |
| Market Size - 2023 | USD 4,157.2 million |
| Market Share - 2023 | 25.4% |
SOUTH EAST ASIA:
| Country | India |
|---|---|
| HCAGR (From 2017 to 2022) | 7.5% |
| CAGR (From 2023 to 2033) | 7.4% |
| Market Size - 2023 | USD 2,354.7 million |
| Market Share - 2023 | 79.6% |
| Country | Malaysia |
|---|---|
| HCAGR (From 2017 to 2022) | 6.1% |
| CAGR (From 2023 to 2033) | 5.6% |
| Market Size - 2023 | USD 138.0 million |
| Market Share - 2023 | 4.7% |
EAST ASIA:
| Country | China |
|---|---|
| HCAGR (From 2017 to 2022) | 6.0% |
| CAGR (From 2023 to 2033) | 6.0% |
| Market Size - 2023 | USD 2,332.0 million |
| Market Share - 2023 | 56.1% |
| Country | Japan |
|---|---|
| HCAGR (From 2017 to 2022) | 3.4% |
| CAGR (From 2023 to 2033) | 2.9% |
| Market Size - 2023 | USD 1,131.5 million |
| Market Share - 2023 | 27.2% |
| Country | South Korea |
|---|---|
| HCAGR (From 2017 to 2022) | 3.4% |
| CAGR (From 2023 to 2033) | 3.6% |
| Market Size - 2023 | USD 693.6 million |
| Market Share - 2023 | 17.8% |
In accordance with the increasing healthcare and laboratory labels market participants in the region, Europe and Asia Pacific account for the increase. The United Kingdom, Belgium, Denmark, Italy, Germany, and France lead Europe.
In this region, the demand for innovative pharmaceuticals and nutraceuticals to improve healthcare services is projected to drive the development of new formulations and drugs.
This is predicted to drive the clinical research industry in NAFTA (North American Free Trade Agreement) countries, which may fuel the demand for healthcare and laboratory labels in the coming years. Rising population and increased medical tourism in nations such as India, China, Malaysia, and Thailand are raising optimism.
| Country | United States |
|---|---|
| HCAGR (From 2017 to 2022) | 3.6% |
| CAGR (From 2023 to 2033) | 3.7% |
| Market Size - 2023 | USD 3,862.9 million |
| Market Share - 2023 | 89.5% |
| Country | Canada |
|---|---|
| HCAGR (From 2017 to 2022) | 4.3% |
| CAGR (From 2023 to 2033) | 3.5% |
| Market Size - 2023 | USD 458.5 million |
| Market Share - 2023 | 10.5% |
Between 2023 and 2033, North America is to hold a significant revenue share in the global healthcare and laboratory labels market, thanks to factors like the region's advanced healthcare infrastructure and research facilities, an increase in clinical trials, and a rising need for accurate and dependable healthcare and laboratory labels in research facilities and laboratories.
Rising product releases, increased spending in medication discovery, and a focus on producing high-quality pressure-sensitive labels and labeling tapes are to fuel market revenue growth in North America.
| Country | Germany |
|---|---|
| HCAGR (From 2017 to 2022) | 3.5% |
| CAGR (From 2023 to 2033) | 3.6% |
| Market Size - 2023 | USD 686.4 million |
| Market Share - 2023 | 21.7% |
| Country | Italy |
|---|---|
| HCAGR (From 2017 to 2022) | 3.6% |
| CAGR (From 2023 to 2033) | 3.4% |
| Market Size - 2023 | USD 402.8 million |
| Market Share - 2023 | 12.7% |
| Country | France |
|---|---|
| HCAGR (From 2017 to 2022) | 1.9% |
| CAGR (From 2023 to 2033) | 2.0% |
| Market Size - 2023 | USD 532.2 million |
| Market Share - 2023 | 16.8% |
| Country | United Kingdom |
|---|---|
| HCAGR (From 2017 to 2022) | 1.5% |
| CAGR (From 2023 to 2033) | 1.3% |
| Market Size - 2023 | USD 451.9 million |
| Market Share - 2023 | 14.3% |
| Country | Spain |
|---|---|
| HCAGR (From 2017 to 2022) | 3.2% |
| CAGR (From 2023 to 2033) | 3.2% |
| Market Size - 2023 | USD 278.4 million |
| Market Share - 2023 | 8.8% |
The European healthcare and laboratory labels market warned that growing demand for medical laboratory labels could be hampered by raw material shortages, supply chain conflicts, and ongoing strikes.
Russia's invasion of Ukraine might further destabilize the supply of resources such as wood, as well as push up energy prices, with energy-intensive businesses such as paper and plastics - two of the key materials used in medical-grade laboratory labels- likely to suffer significantly.
This might mean that laboratory label printers may soon be unable to fulfill orders, with bottlenecks and label shortages potentially affecting critical businesses like pharmaceutical labeling in the forecast period.
Healthcare and laboratory label manufacturers are focusing their efforts on developing advanced, innovative solutions that comply with laws while also bringing value to the medical experience.
Manufacturers in this market are heavily focused on mergers and acquisitions in order to propel market expansion in the coming year. The healthcare and laboratory label manufacturers are also focusing on the launch of new products in order to establish and maintain a global presence.
Recent Development:
| Date | April 2021 |
|---|---|
| Company | Multi-Color Corporation (MCC) |
| Strategy | Acquisition |
| Details | Multi-Color Corporation (MCC), a major producer of label solutions for a variety of industries, purchased Herrods, an in-mold label solutions (IML) provider in Australia and New Zealand, in April 2021. This acquisition is intended to open up new potential for worldwide and local growth, as well as expand their product offering. |
| Date | January 2022 |
|---|---|
| Company | Loftware Inc. |
| Strategy | Acquisition |
| Details | Loftware Inc. announced the acquisition of PRISYM ID, a producer and distributor of regulated content and label management solutions for medical centres and laboratories, in January 2022. The acquisition is to broaden Loftware's labelling solutions for the medical device and pharmaceutical industries, as well as enhance its end-to-end, cloud-based labelling platform with PRISYM ID's sophisticated clinical trial labelling. |
| Date | March 2020 |
|---|---|
| Company | Schreiner Group |
| Strategy | Partnership |
| Details | Schreiner Group established a partnership with RIFD tracking solutions supplier Kit Check in March 2020 to develop RFID-based smart labelling solutions. |
In 2023, the market is anticipated to reach a worth of USD 9.59 billion.
By 2033, the industry is anticipated to have expanded to USD 14.89 billion.
The market boosted at a HCAGR of 4.4% from 2018 to 2022.
The government must impose strict regulations in order to stop the momentum.
The market boosted at a HCAGR of 4.3% from 2018 to 2022.
1. Executive Summary | Healthcare and Laboratory Labels Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Polyolefin 5.2. PET 5.3. PVC 5.4. Paper 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user 6.1. Pharmaceuticals 6.2. Nutraceuticals 6.3. Medical Devices 6.4. Blood Banks 6.5. Hospital Services 6.6. Laboratories 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Avery Dennison Corporation 15.2. CCL Industries Inc. 15.3. 3M Company 15.4. Multi-Color Corporation 15.5. UPM Raflatac Corporation 15.6. Brady Corporation 15.7. Sato Holdings Corporation 15.8. Weber Packaging Solutions, Inc. 15.9. Schreiner Group GmbH & Co. KG 15.10. Diagramm Halbach GmbH & Co. KG 15.11. The Aenova Group 15.12. Shamrock Labels 15.13. Medline Industries, Inc. 16. Assumptions & Acronyms Used 17. Research Methodology
Packaging
February 2024
REP-GB-1446
200 pages
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Healthcare and Laboratory Labels Market
