LONDON, April 2, 2024 (GLOBE NEWSWIRE) — According to The Business Research Company's Global Healthcare and Laboratory Labels Market Report 2024, the healthcare and laboratory labels market has shown steady growth, with an annual Compound growth rates are projected. (CAGR) of 4.8% from 2023 to 2024. The healthcare and laboratory labels market has shown consistent growth and is projected to continue increasing in the future. $9.74 billion in 2023, $10.21 billion in 2024.The Healthcare and Laboratory Labels Market is expected to undergo vigorous expansion in the coming years and its growth is expected to reach the following goals: $12.55 billion by 2028projected CAGR until 2028 is 5.3%. Factors contributing to the growth of this healthcare and testing label market include the evolving regulatory landscape, increasing emphasis on patient privacy, and growing demand for value-based care.
Expansion through e-commerce
Expansion of e-commerce has emerged as a key driver driving the growth of the healthcare and laboratory labels market. The advent of online shopping has increased the need for accurate product information, compliance with regulatory standards, and improved traceability of medical and laboratory supplies. In the third quarter of 2023 alone, U.S. retail e-commerce sales reached an estimated $271.7 billion, accounting for 14.9% of total sales. This surge in e-commerce sales is contributing significantly to the market's growth trajectory.
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Industry insights and stakeholder opportunities
Stakeholders in the Healthcare and Laboratory Labels market, such as manufacturers, suppliers, and end users, can leverage this market report to gain valuable insights into industry trends, competitive dynamics, and growth opportunities. For manufacturers, this report provides important information on the latest advances in laboratory labels, including RFID-enabled Petri dish labels designed for extreme environments. Additionally, stakeholders can stay abreast of industry trends, such as Loftware's acquisition of his PRISYM ID to enhance labeling solutions for the medical device and pharmaceutical sectors.
Regional dynamics and market segmentation
Currently, North America is leading the healthcare and laboratory labels market, while Asia Pacific is expected to witness the fastest growth during the forecast period. Segmenting the market by materials, technology, and end users provides a comprehensive understanding of industry dynamics, allowing stakeholders to tailor their strategies to specific market segments.
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As the healthcare and laboratory label market continues to evolve due to factors such as the expansion of e-commerce and technological advances, stakeholders need to stay informed and adapt their strategies accordingly. This Healthcare and Laboratory Labels Market report serves as a valuable resource to navigate the complexities of the industry landscape and identify growth opportunities in this dynamic market.
Healthcare and Laboratory Labels Global Market Report 2024 The study by The Business Research Company provides information on the Healthcare and Laboratory Labels market size, the Healthcare and Laboratory Labels market segments, the Healthcare and Laboratory Labels market trends, drivers and restraints, and the key competitors in the market. provides insights into its positioning, revenue and market share.
Business Research Company publishes more than 7,500 industry reports covering more than 2,500 market segments and 60 regions. This report is based on unique insights from 1,500,000 datasets, extensive secondary research, and interviews with industry leaders.
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