RFID in Pharmaceuticals Market 2017 Share and Growth Opportunity : Type, Application, Companies and more
The U.S. Food and Drug Administration (FDA) has played a vital role in escalating the widespread adoption of Radio Frequency Identification (RFID) in the pharmaceutical sector to strengthen anti-counterfeiting and track-and-trace efforts. Besides these benefits, RFID technology is acknowledged for its ability to increase supply chain efficiency, reduce errors by proper storage of information, boost patient safety and monitoring, enhance staff, patient, and asset workflow, easy adoption and flexible usage, and cut down labor requirements.
Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=92
With the pharmaceutical sector being a highly critical area, there is a pressing need to have highly efficient systems. Therefore, certain limitations of the technology restrict the RFID in pharmaceuticals market from realizing its utmost potential. These limitations include tampering concerns, technical issues, and compatibility and standardization issues. Another major factor holding back the market is the high cost of implementation. Industrial experts believe that these issues are interrelated. The high cost is limiting widespread adoption and at the same time, the implementation rate of RFID across the pharmaceutical sector is not considerable enough to make the technology cheap. However, the aforementioned limitations are being addressed by technological advancements, which are likely to render the global RFID in pharmaceuticals market highly opportunistic.
The majority of players in the global RFID in pharmaceuticals market are focusing towards technological advancements and product innovation to improve their visibility in the market. Large players are pouring hefty funds into research and development activities to offer products and services that are advanced and in line with the requirements of the pharmaceutical sectors. Most of the leading players in the market are players with strong brand name, high technical expertise, and strong capital muscle.
Request TOC of the Report @ https://www.tmrresearch.com/sample/sample?flag=T&rep_id=92
Global RFID in Pharmaceuticals Market: Overview
Radio frequency identification, popularly known by the acronym RFID, has a host of applications in different areas. Healthcare and pharmaceuticals is one of them. RFID tracking systems have come in handy in lowering human efforts and errors in maintenance and control of healthcare inventory. Some of its popular applications are in tracking medical equipment in hospitals, identifying patients, monitoring blood transfer, and tracking of medication from pharmacy to patient. In the pharmaceutical sector, it helps in monitoring imports and exports of pharmaceutical raw materials, internal and external tracking of pharmaceuticals, and documenting the transfer of products from manufacturers to patients.
Comprising of a small chip, which is capable of carrying up to 2000 bytes and an antenna, the RFID devices do a job similar to that of a bar code or a magnetic strip on the back of a credit card or ATM card – provide a unique identifier for an object. Like a bar code or magnetic strip, an RFID device must also be scanned to gather the identifying information.
Global RFID in Pharmaceuticals Market: Trends and Opportunities
The pharmaceuticals sector is faced with many challenges on the logistics front. These include product recalls due to overstocking which often results in expiry of drugs. Counterfeit drugs is another issue hobbling as it puts the patient’s safety at risk. Further, prescription packaged drugs are difficult to read and patients not taking the proper prescribed dose medication is another problem. To tackle all such challenges RFID can be leveraged successfully.
RFID technology enables better tracking and accountability resulting in improved reliability in drug approval process. It also allows tracking of drug intake via the testing protocol. Also, enhanced inventory tracking with RFID can aid in bringing down buffer stocks thereby slashing cost. All these benefits have majorly contributed to the demand for RFID in the pharmaceuticals sector.
This market is also filliped by the rising demand for more efficient anti-counterfeit solutions for drugs that would ensure product security, quality, and efficient usability. The US FDA has recommended a set of rules and regulations to be applied in RFID for the pharmaceutical industry. Countering the swift uptake of RFID in pharmaceuticals market, however, is the steep cost of installation and deployment of RFID tracking systems. Dearth of awareness about the long term financial advantages of RFID technology is another factor crimping growth in the market.
Global RFID in Pharmaceuticals Market: Regional Outlook
North America and Europe are dominant markets for RFID in the pharmaceuticals sector because of favorable government initiatives, growing thrust on cost reduction through operational efficiency, and major drug counterfeit events. Asia Pacific is slated to exhibit solid growth in the years ahead due to cheaper original equipment manufacturing (OEM) services provided by China and rapid uptake of RFID systems in healthcare in the region.
Companies Mentioned in Report
To present an accurate and detailed assessment of the competition prevailing in the market for RFID in the pharmaceutical sector, the report profiles companies such as IBM Corporation, Alien Technology, Hewlett-Pakard, Siemens, Motorola, Inc., Texas Instruments, Toshiba Tech, and Zebra Technologies Corporation.
Global RFID in Pharmaceuticals Market, by Geography
Rest of the World
This report gives you access to decisive data such as:
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for the coming years
About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
3739 Balboa St # 1097,
San Francisco, CA 94121
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release RFID in Pharmaceuticals Market 2017 Share and Growth Opportunity : Type, Application, Companies and more here
News-ID: 1825593 • Views: 471
More Releases from TMR Research
Cast Resin Current Transformers Market Scope and Forecast 2028 | Siemens, Fuji E …
Global Cast Resin Current Transformers Market: Overview The global cast resin current transformers market has grown steadily over the years, owing to the convenience it provides in reducing high voltage and currents. Resin cast current transformers are basically a dry type of transformer. Within cast resin current transformer, the internal coils and windings are coated with a special type of resin, which is known as epoxy resin. Such coating with epoxy
Drilling Mud Desander and Desilter Market Assessment On Competition 2028 | Halli …
Global Drilling Mud Desander and Desilter Market: Introduction The global drilling mud desander and desilter market is expected to find lucrative growth opportunities in the coming years, supported by the burgeoning oil and gas sector. Drilling mud desanders and desilters are used too separate sand and silt, and companies widely accept abrasive solids from the drilling mud with a set of hydroclones. The desanders and desilter are typically combined to efficiently
Switchgear Monitoring System Market Growth Framework 2028 | Schneider Electric, …
Global Switchgear Monitoring System Market: Introduction The demand for switchgear monitoring systems has increased due to soaring investments in renewable energies and in demand for safe, secure electricity distribution systems. The switchgear is defined as a combination of electrical disconnecting switches, breakers, protective relays and other components like interconnectors. Using the switchgear, electric current can be continuously transferred and current overload, short circuit and insulator failure protected. It has been designed
Marine VFD Market Study by 2028 | GE (US), ABB (Switzerland), Eaton (Ireland), S …
Marine VFD Market: Introduction The marine VFD market is experiencing a significant growth since past few years. The marine variable frequency drive market is anticipated to undergo even more developments in the span of coming years. The major factors contributing in the rising demand in global marine VFD market are decreased energy price and low energy consumption. It operates an electric engine and can control slow down and increase of
More Releases for RFID
rfid clear tag for rfid inventory (gyrfidstore)
RFID Disc Tags are widely used for inventory tracking system or Automatic production systems. The RFID Disc Tag can also work on metal surface with anti-metal layer on it, also can be attached to goods surface by adhesive layer. There are abundant size options from 12mm to 50mm. GYRFID presents several types with different material and size to suitable customer’s application. DIP Series- PVC Disc Tag, PVC Laminated, thickness of 1.0-1.2mm DIT
windshield rfid tag for rfid solutions(gyrfidstore)
The strength of RFID label or RFID Stickers compared with other tags is the thinner thickness, various size, flexible and cost efficient. It can be sealed inside of goods or stick on the device surface with adhesive layer. The label is also optional with anti-metal layer to mount and working on metal surface. GYRFID Provides different types Stickers to meet the requirement for different applications such as NFC Payments,
RFID Bracelet 1.Housing ABS,Soft PVC 2.Chip:MiFare 1k,MiFare 4k,MiFare Ultralight 3.RFID Bracelet:ISO9001 4.15 years OEM RFID Bracelet: Waterproof silicone 125 KHz and 13.56 MHz Passive RFID bracelet. Perfect for short to medium range (Up to 60 cm) RFID applications such as around pools, waterparks, spas and other RFID access control applications where a waterproof bracelet is required. 1. Acid-proof 2. Alkali-proof 3. Constancy of properties over a wide temperature range leading to large operationg range 4.Excellent
RFID tag,rfid keyfob,rfid disc tag IC:EM4102,T5567,MF 1K,UHF Frequency:125KHZ,13.56MHZ,868MHZ Craft:logo printing,encoding RFID tag Frequency LF(Low Frequency): 125KHz HF(High Frequency): 13.56MHz RFID IC LF: Unique EM4100/4102, GK4001 HF: Mifare 1K,Mifare 4K, Mifare Ultralight, Mifare desfire I CODE SLI UHF Material PVC,ABS,Nylon Additional Craft
RFID keychain with different chip embedded,with logo and number printing RFID keyfob is a transponder consisting of a chip and a coil-antenna in the robust ABS material. It has a hole for a key ring or chain. The key fobs is popularly for access control, time recording, operations (for example: cashless payment) and for the general identification for people. Key fobs are a good option to contactless cards. What we
RFID Wristband Tag
RFID Wristband, Mifare 1K RFID Wristband Tag with outstanding quality & excellent performance now is available at competitve Listing Description RFID bracelet,different colours and IC,EM4102,MF 1K,etc Detailed Description Reading distance:80mm Operating temperature -40 to 70 degree celsius Strong temperature -40 to 80 degree celsius Materials:ABS+PVC water-resistant:YES GK4001(125KHz 64 bits, R/O) EM4102(125KHz 64 bits, R/O) I CODE(13.56MHz 1024 bits,R/W) Mifare 1K(13.56MHz 1K byts,R/W) Hitag