Albany, New York, August 29, 2019: Amid inundation of diluted, counterfeit and mislabeled drugs that pose a financial risk to manufacturers and a health threat to patients. In the face of soaring nefarious efforts to make counterfeit drugs pervasive, FDA is painstakingly working with pharmaceutical suppliers to keep the drug supply safe and secure. Nevertheless, the ideal technical solution to use radio-frequency identification (RFID) for the e-tracing, tracking, and authentication of pharmaceuticals has fared well for the manufacturers. Moreover, using RFID with electronic product code (EPC) has acted as a deterrent to the counterfeit drugs.
These insights are according to the intelligence report, titled, “RFID in Pharmaceuticals Market: Global Industrial Analysis 2013-2017 and Opportunity Assessment 2018-2028,” which has been freshly added to Market Research Reports Search Engine’s (MRRSE) exponential repository.
RFID tracking has propelled the integrity of the supply chain which has allowed authorities to use the audit trail created when tags reach the shipping point. Companies have been able to tighten the noose over legitimate shipments by vividly tracking carton, products and pallets.
Accordingly, RFID technology in pharmaceuticals has become indispensable in the security of items. With global adoption of EPC, it is expected that it will be a hard nut to crack for counterfeiters to put forth their mirrored items on the market.
According to the report, drug tracing system is anticipated to be highly sought-after, having logged over 3/5th sales. Nevertheless, U.S. customs agencies and distribution companies have vouched for RFID in pharmaceuticals, thereby mustering confidence among stakeholders.
Trend for chipless RFIDs is being observed in pharmaceutical landscape as it aims to eliminate the hardware linked intricacies. However, downsides linked with the designing of chipless RFID such as data transmission and encoding will likely mar the growth of RFID in pharmaceuticals market.
North America set to rule reign supreme, while Europe will potentially offer substantial opportunity to preeminent players in the market. Some of the prominent companies in the market are IBM Corporation, Zebra Technologies, Xerox Corporation and Thinfilm Electronics, namely.
RFID in Pharmaceuticals Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the RFID in pharmaceuticals market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the RFID in pharmaceuticals market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on RFID in pharmaceuticals.
An insightful and deep-dive assessment of the competitive assessment of the RFID in pharmaceuticals market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the RFID in pharmaceuticals market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
RFID in Pharmaceuticals Market: Research Methodology
Primary sources and secondary sources propel intelligence report on RFID in pharmaceuticals market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on RFID in pharmaceuticals market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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