Future-proof Pharma Labels Market Insights 2021- Global COVID-19 Impact Analysis, Size, Share, Overview by Revenue, Competitive Landscape, Key Regions and Forecast to 2026

Future-proof Pharma Labels Market - Growth, Trends, And Forecast (2020 - 2025)

The report presents an in-depth assessment of the Future-proof Pharma Labels including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Future-proof Pharma Labels investments from 2020 till 2025.

The Future-proof Pharma Labels Market is expected to register a CAGR of 14% during the forecast period from 2020 to 2025. 

The Future-proof Pharma Labels market is highly competitive and consists of a number of major players: CCL Industries Inc., Avery Dennison Corporation, NiceLabel (Euro Plus d.o.o.), UPM Raflatac, Inc., Schreiner Group, Covectra, Inc., Loftware, Inc.

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Scope of the Report

The future-proof labeling technology is set to transform the pharmaceutical industry during the forecast period, including supply-chain management, cold-chain monitoring, track-and-trace compliance, and authentication. With the usage of technologies such as RFID and NFC, among others, drugs and medical devices are digitally visible, traceable, and well monitored, from the manufacture, all the way through, to retail shelves, and even to the consumer's homes.

Industry news:

- January 2020 - Schreiner MediPharm showcased new robust RFID Pharma-Label and secure supply chain solutions. The new Robust RFID-Label from Schreiner MediPharm consists of a label-integrated RFID tag secured by the label’s unique construction. Thus, potential damage to the RFID chip, for instance, due to mechanical impact during the manufacturing and handling processes, can be avoided.

- March 2020 - Avery Dennison Corporation has completed the acquisition of the transponder business of Smartrac for the purchase price of EUR 225 million. Smartrac engages in the development and manufacturing of RFID inlays. It has intense research and development capabilities and a track record for developing and commercializing effective, high-value, and high-quality RFID products.

Key Market Trends

RFID Technology is Expected to Witness Significant Growth

- Industry 4.0 technology has become a complicated aspect of business operations in most sectors with the rise of the fourth industrial revolution. RFID technology has become essential across a wide range of industries. The pharmaceutical industry's emergence is mainly attributed to the high importance of the safety and security of business operations. With the increasing consumer awareness about the toxic counterfeit products pushed in the market, the technology is expected to foresee significant growth in the industry.
- As one of the most supervised and sensitive product groups, pharmaceuticals are subjected to numerous safety norms, and manufacturers have to adhere to the drug quality and adhere to stringent regulations. Besides, increasing risks from substandard and falsified drugs are creating a need for efficient anti-counterfeiting solutions in the pharmaceutical industry. This has boosted RFID's adoption in combination with the electronic product code (EPC) in the industry.
- Though the technology is not new to the pharmaceutical industry, RFID readers are bring deployed for more efficient and potentially life-saving when used for monitoring drug quality and movement of the product. The user's inclination towards tech-based solutions coupled with the latest technologies to improve the security in pharmaceutical warehousing and the productivity and efficiency of their business logistics is expected to augur well for vendors and RFID companies in the pharmaceutical industry.
- Also, the need for safe transportation and storage of these products will be amplified with the growing trend of personalized medicine and treatments. Drug manufacturers and wholesalers implement an efficient labeling system by next-generation RFID tags and readers to reduce medical errors and improve the safety of personalized pharmaceutical products.
- Hanmi Pharmaceutical Co., one of the largest pharmaceutical companies in Korea, is one of the players that has been successfully employing RFID to increase efficiency, monitor product movements, and ensure compliance with government regulations. The company plans to use big data accrued from the existing RFID-based manufacturing system as part of the next phase of its Smart Factory.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Future-proof Pharma Labels Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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