Market Overview:
The global RFID in pharmaceuticals market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing demand for RFID readers, tags, and middleware in hospitals and clinics, drug manufacturers, drug wholesalers, and other applications. North America is expected to lead the global RFID in pharmaceuticals market during the forecast period due to the presence of key players in this region and rising demand for RFID technology from various end-use industries.
Product Definition:
RFID stands for Radio-frequency identification. RFID technology has been used in a myriad of industries for many years, but its use in the pharmaceutical industry is becoming more and more prevalent. RFID tags are small chips that are affixed to products and contain information about that product. This information can include anything from the product's name and lot number to expiration date and manufacturing location.
RFID readers emit a radio signal that interacts with the tag, causing it to transmit the encoded information back to the reader. This allows businesses to keep track of their inventory automatically as items move throughout their facilities. RFID technology can also be used for quality control purposes by tracking how long products have been stored at different points in the supply chain or by monitoring environmental conditions such as temperature and humidity levels.
The importance of RFID technology in pharmaceuticals cannot be overstated; it helps businesses keep track of their inventory, ensure regulatory compliance,.
RFID Readers:
RFID readers are devices used to capture and store data on an RFID tag. The tags are attached to pallets, containers or individual products in the supply chain for automatic identification and tracking purposes. The technology is widely used in inventory management as it provides high-speed scanning, which helps reduce product loss due to stock-outs.
RFID Tags:
Radio-frequency identification (RFID) tags are small computer chips that can be attached to pharmaceutical products for automatic identification and tracking purposes. The RFID technology is used in the pharmaceutical industry for inventory control, product tracing, and patient monitoring applications.
Application Insights:
The market is segmented by application into hospitals and clinics, drug manufacturer, drug wholesalers and others. The hospitals and clinics segment dominated the overall industry in terms of revenue in 2017. This can be attributed to the growing demand for effective supply chain management solutions that help reduce waste & frauds as well as improve inventory control at a hospital or clinic level. Moreover, increasing government funding for RFID-based healthcare applications are also expected to drive growth over the forecast period.
The drug manufacturer accounted for a significant share of 23% in 2017 owing to various advantages offered such as real-time tracking & tracing of drugs throughout the distribution channel which includes pharmacy shelves, retail stores/pharmacies and patient homescreening facilities from manufacturers/distributors to patients along with regulatory compliance issues related to reporting counterfeit drugs within country or across borders (elements that contribute towards driving adoption).
Regional Analysis:
North America dominated the global market in 2017. The presence of well-established healthcare infrastructure, high adoption rate of advanced technologies, and increasing demand for efficient supply chain management are some major factors driving regional growth. Furthermore, the U.S.-based pharmaceutical companies have been adopting RFID systems at a faster pace due to various benefits associated with this technology such as improved inventory visibility and reduction in wastage & theft of drugs.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to rising government initiatives pertaining to improving healthcare facilities in developing economies including China and India as well as growing awareness about advanced treatment options provided by RFID-enabled systems over traditional ones. Moreover, an increase in spending on drug development coupled with rising disposable income levels will boost industry expansion over the coming years hence propelling revenue generation from 2018 to 2030 in this region Middle East & Africa (MEA).
Growth Factors:
- Increasing demand for RFID in the pharmaceuticals industry to improve inventory management and track drugs throughout the supply chain.
- The increasing use of RFID tags in combination with sensors to detect environmental conditions and track product temperature, helping to ensure drug safety.
- Growing demand for Radio Frequency Identification (RFID) technology from hospitals and other healthcare providers to manage medical supplies, equipment, and patients’ records electronically
- The increasing number of countries implementing RFID mandates for tracking pharmaceuticals products across the supply chain
Scope Of The Report
Report Attributes
Report Details
Report Title
RFID in Pharmaceuticals Market Research Report
By Type
RFID Readers, RFID Tags, RFID Middleware
By Application
Hospitals & Clinics, Drug Manufacturer, Drug Wholesalers, Others
By Companies
Honeywell, Zebra Technologies, Impinj, Invengo Technology, IBM, Smartrac, Aucxis, Turck Korea, Datalogic, Unitech, HID Global, CCL Label, Xerox Corporation, Fieg Electronics, JADAK, Texas Instrument, TSL, CSL, GAO RFID, Alien Technology, Cipher Lab, Sense Technology, Chafon Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
227
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global RFID in Pharmaceuticals Market Report Segments:
The global RFID in Pharmaceuticals market is segmented on the basis of:
Types
RFID Readers, RFID Tags, RFID Middleware
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals & Clinics, Drug Manufacturer, Drug Wholesalers, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell
- Zebra Technologies
- Impinj
- Invengo Technology
- IBM
- Smartrac
- Aucxis
- Turck Korea
- Datalogic
- Unitech
- HID Global
- CCL Label
- Xerox Corporation
- Fieg Electronics
- JADAK
- Texas Instrument
- TSL
- CSL
- GAO RFID
- Alien Technology
- Cipher Lab
- Sense Technology
- Chafon Group
Highlights of The RFID in Pharmaceuticals Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- RFID Readers
- RFID Tags
- RFID Middleware
- By Application:
- Hospitals & Clinics
- Drug Manufacturer
- Drug Wholesalers
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the RFID in Pharmaceuticals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
RFID in Pharmaceuticals refers to the use of RFID tags and readers to track and monitor pharmaceutical products throughout their lifecycle. This can include tracking product from manufacturing to distribution, as well as monitoring usage and inventory levels. By knowing where a product is at all times, manufacturers can ensure that products are being used correctly and that there is enough stock available when needed.
Some of the key players operating in the rfid in pharmaceuticals market are Honeywell, Zebra Technologies, Impinj, Invengo Technology, IBM, Smartrac, Aucxis, Turck Korea, Datalogic, Unitech, HID Global, CCL Label, Xerox Corporation, Fieg Electronics, JADAK, Texas Instrument, TSL, CSL, GAO RFID, Alien Technology, Cipher Lab, Sense Technology, Chafon Group.
The rfid in pharmaceuticals market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 RFID in Pharmaceuticals Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 RFID in Pharmaceuticals Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 RFID in Pharmaceuticals Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the RFID in Pharmaceuticals Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global RFID in Pharmaceuticals Market Size & Forecast, 2018-2028
4.5.1 RFID in Pharmaceuticals Market Size and Y-o-Y Growth
4.5.2 RFID in Pharmaceuticals Market Absolute $ Opportunity
Chapter 5 Global RFID in Pharmaceuticals Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 RFID in Pharmaceuticals Market Size Forecast by Type
5.2.1 RFID Readers
5.2.2 RFID Tags
5.2.3 RFID Middleware
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global RFID in Pharmaceuticals Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 RFID in Pharmaceuticals Market Size Forecast by Applications
6.2.1 Hospitals & Clinics
6.2.2 Drug Manufacturer
6.2.3 Drug Wholesalers
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global RFID in Pharmaceuticals Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 RFID in Pharmaceuticals Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America RFID in Pharmaceuticals Analysis and Forecast
9.1 Introduction
9.2 North America RFID in Pharmaceuticals Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America RFID in Pharmaceuticals Market Size Forecast by Type
9.6.1 RFID Readers
9.6.2 RFID Tags
9.6.3 RFID Middleware
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America RFID in Pharmaceuticals Market Size Forecast by Applications
9.10.1 Hospitals & Clinics
9.10.2 Drug Manufacturer
9.10.3 Drug Wholesalers
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe RFID in Pharmaceuticals Analysis and Forecast
10.1 Introduction
10.2 Europe RFID in Pharmaceuticals Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe RFID in Pharmaceuticals Market Size Forecast by Type
10.6.1 RFID Readers
10.6.2 RFID Tags
10.6.3 RFID Middleware
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe RFID in Pharmaceuticals Market Size Forecast by Applications
10.10.1 Hospitals & Clinics
10.10.2 Drug Manufacturer
10.10.3 Drug Wholesalers
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific RFID in Pharmaceuticals Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific RFID in Pharmaceuticals Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific RFID in Pharmaceuticals Market Size Forecast by Type
11.6.1 RFID Readers
11.6.2 RFID Tags
11.6.3 RFID Middleware
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific RFID in Pharmaceuticals Market Size Forecast by Applications
11.10.1 Hospitals & Clinics
11.10.2 Drug Manufacturer
11.10.3 Drug Wholesalers
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America RFID in Pharmaceuticals Analysis and Forecast
12.1 Introduction
12.2 Latin America RFID in Pharmaceuticals Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America RFID in Pharmaceuticals Market Size Forecast by Type
12.6.1 RFID Readers
12.6.2 RFID Tags
12.6.3 RFID Middleware
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America RFID in Pharmaceuticals Market Size Forecast by Applications
12.10.1 Hospitals & Clinics
12.10.2 Drug Manufacturer
12.10.3 Drug Wholesalers
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) RFID in Pharmaceuticals Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) RFID in Pharmaceuticals Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) RFID in Pharmaceuticals Market Size Forecast by Type
13.6.1 RFID Readers
13.6.2 RFID Tags
13.6.3 RFID Middleware
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) RFID in Pharmaceuticals Market Size Forecast by Applications
13.10.1 Hospitals & Clinics
13.10.2 Drug Manufacturer
13.10.3 Drug Wholesalers
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 RFID in Pharmaceuticals Market: Competitive Dashboard
14.2 Global RFID in Pharmaceuticals Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Honeywell
14.3.2 Zebra Technologies
14.3.3 Impinj
14.3.4 Invengo Technology
14.3.5 IBM
14.3.6 Smartrac
14.3.7 Aucxis
14.3.8 Turck Korea
14.3.9 Datalogic
14.3.10 Unitech
14.3.11 HID Global
14.3.12 CCL Label
14.3.13 Xerox Corporation
14.3.14 Fieg Electronics
14.3.15 JADAK
14.3.16 Texas Instrument
14.3.17 TSL
14.3.18 CSL
14.3.19 GAO RFID
14.3.20 Alien Technology
14.3.21 Cipher Lab
14.3.22 Sense Technology
14.3.23 Chafon Group
