In 2023, the healthcare & laboratory label industry in the United States achieved a valuation of US$ 1,056.2 million. Moving forward, demand within this sector is expected to grow steadily at a compound annual growth rate (CAGR) of 3.2%. By 2034, industry projections suggest a substantial increase, with anticipated revenues rising from US$ 1,081.7 million in 2024 to US$ 1,478.2 million. This growth trajectory underscores a promising outlook for the healthcare & laboratory label market in the United States over the forecast period.
The need for medical and laboratory labels is increasing due to the growth of blood banks and pathology labs in the United States. Accurate labeling is essential for appropriately tracking and recognizing the huge volume of samples and goods these facilities handle. The rising innovation and investment in developing sustainable healthcare & laboratory labels are further expected to expand the industry.
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The need for dependable and compatible labeling solutions is rising along with a surge in blood donations and medical testing in the United States. Regulatory standards and compliance in label development are essential to the healthcare industry.
The flexible packaging industry is experiencing a surge in demand for eco-friendly healthcare and laboratory labels due to increased environmental sustainability and strict regulations imposed by the FDA and other government authorities. Growing eco-consciousness in manufacturers and consumers is increasing the demand for eco-friendly labels and is expected to rise continually.
Key Takeaways from the United States Healthcare and Laboratory Label Industry
- Over the forecast period, healthcare & laboratory label demand in the United States is anticipated to rise at 3.2% CAGR.
- The industry is predicted to reach US$ 1,478.2 million in 2034.
- By adhesive, the removable segment is expected to surge at a CAGR of 4.3% by 2034.
- By end-use, the hospital segment is anticipated to gain incremental opportunity of US$ 103.6 million during the forecast years.
- Based on printing technology, the direct thermal segment is expected to exhibit a CAGR of 2.1% during the forecast period.
“Medical and laboratory products face environmental conditions like freezing and refrigeration, requiring labels with adhesive properties like chemical resistance, easy dispensing, and clear graphics. The growing demand for superior adhesive labeling is expected to drive industry growth during the forecast period.”- says Ismail Sutaria (Lead Consultant, Packaging and Materials)
Competitive Landscape
CCL Industries Inc., Brady Corporation, Cardinal Health Inc., Sato Holdings Corporation, Schreiner Group, and Shamrock Labels are the leading players in the industry. The tier 1 players hold 15 to 25% of the overall healthcare & laboratory label industry share.
Manufacturing companies operating in the healthcare & laboratory label industry are developing innovative solutions catering to specific products or applications. Leading players are expanding their presence and manufacturing capabilities and moving toward adopting and offering sustainable solutions to customers. Key players are investing in collaborating with flexible packaging companies to provide innovative labeling solutions.
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Recent activities and developments:
- In July 2023, CCL Industries Inc. acquired privately held Creaprint S.L., based in Alicante, Spain.
- In September 2023, Schreiner MediPharm, part of Schreiner Group, developed a Freeze-Light-Protect syringe label from Schreiner MediPharm.
The United States Healthcare and Laboratory Label Industry Report
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the healthcare & laboratory label industry, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals industry growth projections on the global healthcare & laboratory label industry based on material type (polyolefin, polyethylene terephthalate (PET), polyvinyl chloride (PVC), paper, others), printing technology (direct thermal, thermal transfer, inkjet printing, laser printing), adhesive (permanent and removable), and end-use (hospitals, laboratories, clinical trials, independent clinics, blood banks, diagnostic centers, veterinary labs, ambulatory surgery centers (ASCs), outpatient surgery centers).
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