The global healthcare & laboratory label market is anticipated to grow at a CAGR of 5.2% during the forecast period (2022-2028). Healthcare & laboratory label is a label that is stuck to various medicines, nutraceutical products, diagnostic services, and many others that provide vital information to patients. The major factor attributing to the growth of the global healthcare & laboratory label market is the increasing use of labels in medicines due to the growing pharmaceutical industry. According to the Pharmaceuticals Industry Report published by the India Brand Equity Foundation (IBEF), India is the major provider of generic drugs across the globe supplying 50% of global vaccine demand, and 40% of the generic demand in the US. As per the Indian Economic Survey of 202, the domestic Indian pharmaceuticals industry is expected to grow by three times by the next decade. The value of the Indian domestic pharmaceuticals market is $42 billion in 2021 and is expected to reach $65 billion by 2024, and further expand and reach around $130 billion by 2030. Thus, increasing the demand for labels in pharmaceuticals.
The application of healthcare & laboratory labels is also increasing in blood banks due to increasing blood donation across the globe. According to the report published by the World Health Organization (WHO) in June 2020, around 118.5 million blood donations are collected across the globe in 2019. Furthermore, the application of labels is also increasing in diagnostic testing & procedures due to the growing diagnostic market across the globe. According to the National Library of Medicine, the global diagnostic market is valued at more than $45 billion. Among these, the major country in the diagnostic market includes the US with $19 billion, Europe with $14 billion, and Japan with $4 billion. Thus, propelling the growth of the global healthcare & laboratory label market.
Some major players in the market include 3M, Avery Dennison Corp., Weber-Stephen Products (HK) Ltd., Diagramm Halback GmbH & Co. KG, Aenova Holding GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, Enciord, a computer vision startup launched “DICOM”. DICOM is an image annotation tool to support manual data labeling for the healthcare industry.
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Competitive Landscape-
3M, Avery Dennison Corp., Weber-Stephen Products (HK) Ltd., Diagramm Halback GmbH & Co. KG, Aenova Holding GmbH, among others.
By Material Type
- Nylon
- Polyester
- Polyolefin
- Vinyl
- Paper
By Application
- Blood Bank
- Hospital Services
- Diagnostic Services
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Scope of the Report
The research study analyzes the Global Healthcare & Laboratory Label industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Healthcare & Laboratory Label Market Report
1. What was the Global Healthcare & Laboratory Label Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Healthcare & Laboratory Label Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Healthcare & Laboratory Label Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Healthcare & Laboratory Label market.
- The market share of the Global Healthcare & Laboratory Label market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Healthcare & Laboratory Label market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Healthcare & Laboratory Label market.
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