According to market research carried out by FMI (Future Market Insights) the global healthcare and laboratory labels market stands at over £7 billion as of this year and is expected to be worth over £10 billion by the year 2030. The rising need for improved healthcare has led to the development of new drugs, and clinical research is set to play a prominent role in the growth of the market over the next eight years.
We’ve spoken countless times about the use of manual, handwritten labelling solutions – these methods are prone to errors and durability issues causing illegibility and inaccuracy of patient identification and overall visibility. The use of technology within the healthcare and laboratory labels market is a way forward to easily eliminate these issues.
By using digital technology, and by that we mean scannable 1D & 2D barcodes – QR codes and Data Matrix, combined with human readable data – the accuracy of patient identification and streamlining processes can be enhanced by transmitting the data in real time to those who need it, delivering critical time saving and much needed accuracy.
The COVID-19 Pandemic has hugely impacted the way consumers interact with products, shifting the focus towards the use of technology and contact-less healthcare. FMI suggests that digital integration in healthcare and laboratory labels is anticipated to boost contact-less healthcare. Laboratory labelling has been essential as part of the COVID-19 testing scheme, and the data collected from infected patients is very important for the ongoing and future research on the virus. COVID-19 alone has been a huge factor of the growth in the market due to the demand for labels and their data across the world.
Regulations from government bodies ensuring compliance is met for the standards of healthcare and laboratory labelling is ever changing and can prove challenging within the industry. We are UL Certified which means the materials we use have been tested and pass the industry-wide safety standards set by UL. Why does this matter? Peace of mind. Our products can be purchased with the knowledge that they are verified and meet specific safety standards set by a third-party certification company.
As well as regulation changes, the ever-changing end user requirements such as sizing, printing process and materials means we have to keep on top of our offerings to meet demand – nearly 65% of the healthcare label market is accounted for by paper-based labels, but Polyolefin-based labels (a type of polymer) – popular for their strong adhesive and durability, especially against hazardous chemicals, are expected to boost the market by around £11 million between now and 2030 according to FMI.
Along with paper and polymer, we offer a large range of material and adhesive combinations to ensure we’re able to meet the demand of our clients and these ever-changing needs in supply. And lastly, we offer a completely bespoke service, tailoring to the needs of each individual enquiry. With our experts on hand, we guarantee to supply you with the best suited product for your requirement.
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