Labelling holds immense significance in the healthcare industry and laboratories, owing to the crucial information contained by the industry components ensuring the safety of their usage and alerts about the associated risks. A new research report recently published by Future Market Insights has come up with the key insights on the global healthcare and laboratory labels market. According to the exhaustive research report, titled ‘Healthcare & Laboratory Labels Market Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028’, the market is expected to progress steadily at the rate of 4.6% during the forecast period, reaching a market value of over US$ 8,300 Mn by the end of 2028.
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Global Healthcare and Laboratory Labels Market: Segmental Analysis
The report divides the global market for healthcare and laboratory labels into the materials used for labeling of healthcare and laboratory labels. Paper is revealed to be the leading segment which is expected to reach a market value of over US$ 5,100 Mn by the end of 2028. However, the future of the global healthcare and laboratory labels market also holds fastest growth rate for polyester in the upcoming years, which is anticipated to register a CAGR of 5.0% during the forecast period.
The report also projects a clear and in-depth scenario of the market in different regions. According to the regional analysis, North America is expected to account for the highest value by the end of 2028. However, in terms of growth rate, India is expected to showcase growth at the fastest pace, registering a stellar CAGR of 7.3% during the forecast period.
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Global Healthcare and Laboratory Labels Market: Trends
The report provides in-depth assessment of the key trends observed in the global healthcare and laboratory labels market, which are most likely to influence the market growth throughout the forecast period. The rising need for advanced pharmaceutical products for improved healthcare services has led to the development of new drugs and formulations, boosting the clinical research market in Europe. This trend is anticipated to create sustainable market opportunity for pharmaceutical labels, primarily due to the dominant presence of pharmaceutical manufacturers in the European and Asia Pacific region.
Such dynamic trends of global healthcare and laboratory labels market are also expected to bring barcoding into limelight. Barcoding with cryogenic vials is expected to come into existence with growing importance of products that are easily visible and identifiable. Barcode labels include printed characteristics on either side of the cryogenic vials that enhances readability to consumers. Cryogenic vial barcode scanning eliminates issues caused while identifying the stored content and eliminates duplicity of the sample as well.
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The market trends mentioned in the report have also highlighted the companies that are efficient enough to rule the market in the projection period. Some of the leading companies mentioned in the report are Multi-Color Corporation, UPM Raflatac, BRADY Germany, Diagramm Halbach GmbH & Co. KG, Schreiner Group GmbH & Co., The Aenova Group, Weber Packaging Solutions, and Adampak Private Limited.