Healthcare and Laboratory Labels Market to Reach US$ 22.7 billion by 2030, Says Future Market Insights

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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

Material:

• Polyolefin
• PET
• PVC
• Paper
• Others

 End-user:

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

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

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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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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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