Automatic Tube Labeling Systems Market Will Reach Nearly US$ 75.5 Million in Revenues by 2026

Persistence Market Research

NEW YORK, September 24, 2018 /PRNewswire/ --

Advantages over Manual Labeling Techniques to Benefit Automatic Tube Labeling System Market Growth; Laboratory Automation to Remain at the Forefront, Reveals Persistence Market Research 

Over the years, significant advancements and investments in life science research and growth in industrial-level automation have led to improvements in various systems and processes used in life sciences research and development. Labeling of research specimens has moved from tedious, labor-intensive manual forms to a more automated version that enhances productivity, minimizes the chances of errors, reduces costs, and provides more control over lab workflows. Automatic tube labeling systems are more in vogue today, riding on laboratory automation to provide the desired output with increased efficiency to systematically track samples. This is fueling revenue growth of the global automatic tube labeling system market, according to a new research study by Persistence Market Research (PMR).

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According to forecasts presented in the report, the global market for automatic tube labeling systems is projected to reach a valuation of US$ 75.5 Mn by 2026, up from an estimated US$ 52.6 Mn in 2018. This reflects a CAGR of 4.6% during the eight year period from 2018 to 2026. This growth can be attributed to factors such as enhanced labeling accuracy and reduced downtime facilitated by automatic tube labeling. Automatic tube labeling systems save effort and money and also sample diagnosis time. By minimizing human errors that are characteristic of manual labeling, automatic tube labeling systems help increase productivity and enable drug development companies to achieve a higher output.

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Increased Regulatory Compliance to Boost Demand for Automatic Tube Labeling Systems 

Blood banks, laboratories, and life sciences R&D centers especially in the U.S are mandated to adhere to international standards and guidelines pertaining to the labeling of samples. Pharmaceutical companies for instance, need to follow stringent labeling requirements for product specific labels and barcode standards for specimen shipping and logistics. Incorporation of barcode labeling eliminates the chances of human error in specimen labeling. These stringent regulations pertaining to labeling specimen tubes are acting in favor of the global market for automatic tube labeling, boosting adoption and subsequently revenue growth.