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Fashion retailer Brownie signs agreement with Nedap for cloud-based RFID software ••• TMR Research report says RFID revolutionizing pharmaceutical industry ••• Harland Simon launches new Wi-Fi RFID reader ••• Silicon Labs' Bluetooth Mesh solution helps IoT developers cut time to market ••• Toshiba BLE products now support Bluetooth Mesh standard.
By Rich Handley

TMR Research Report Says RFID Revolutionizing Pharmaceutical Industry

A recent report from TMR Research indicates that the market for RFID in the pharmaceuticals industry is currently at the developing stage, with enormous growth possibilities. The study, titled "RFID in Pharmaceuticals Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025," notes that the U.S. Food and Drug Administration (FDA) has played a pivotal role in escalating the adoption of radio frequency identification in the drug-delivery market, since the technology helps to strengthen anti-counterfeiting and track-and-trace efforts.

Developed by a group of market-research analysts, the report is intended to serve as a business tool for pharmaceutical companies, drug distributors and traders, government regulatory bodies and research associations. The study assesses vital factors that will determine the demand for RFID in pharmaceuticals in the near future, segments the information into smaller aspects and profiles a number of key players in order to gauge the competitive landscape.

According to the report's findings, RFID technology is proving its proficiency at managing the supply chain, reducing errors with robust storage of information, enhancing staff efficiency in serving patients and decreasing labor requirements, which helps companies to improve patients' health-care experience. The researchers note that RFID technology has a few hindrances to face, such as tampering issues, compatibility, standardization and technical issues, as well as the high cost of implementation.

Product-wise, the global RFID market for pharmaceuticals is segmented into systems and tags for tracking assets, pharmaceuticals, patients and blood products. Geographically, the report takes stock of the potential of market in all important regions, such as North America, Europe, the Asia-Pacific region, and the Middle East and Africa. North America (with developed countries such as the United States and Canada) and Europe (with the United Kingdom, Germany and France) are the two most profitable regions, the report indicates, though the Asia-Pacific region is expected to increment the demand in the near future, given its improving health-care infrastructure.

Vendors operating in the pharmaceutical RFID market are focused on developing products that not only can improve visibility but are compatible with the delivery package, according to the report. Some key companies currently operating in this market are Hewlett-Packard, Alien Technology, IBM, Motorola, Siemens, Toshiba, Zebra Technologies and Texas Instruments.

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