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RFID in Pharmaceuticals: Supply Chain Security Concerns Provide Impetus for RFID Adoption

This report, produced by GBI Research, a leading business intelligence company, provides key data and analysis of the major factors affecting the market for RFID in the pharmaceuticals industry.
Jul 07, 2010—This pharmaceutical and health-care report analyzes the strengths, weaknesses, opportunities and threats in the RFID market within the pharmaceutical industry, as well as the key market drivers and barriers to the adoption of RFID in the industry. The report is based on proprietary databases, primary and secondary research, and in-house analysis by GBI Research's team of industry experts.


The global market for radio frequency identification (RFID) products and services in the pharmaceutical industry was valued at $112 million in 2008, and is expected to grow to $884 million in 2015 at a CAGR of 34 percent over the same period. The market for RFID hardware is the largest at the initial stages of adoption in the pharmaceutical industry. Service providers are gaining market share by integrating their services with one-stop solutions. The share of hardware in the RFID market is estimated to be 60 percent in 2008, and includes tags, readers and label printers. The share of software and services in the RFID market is estimated to be 40 percent in 2008. RFID services include installation, integration, training, maintenance and IT support.

View the table of contents.

GBI Research's analysis suggests that the RFID technology is in the early stages of adoption within the pharmaceutical industry. The market for RFID in pharmaceuticals is hampered by low adoption rates due to apprehensions over high investments and the lack of a clear business case. However, solutions for the pharmaceutical industry are evolving to address the concerns responsible for the slow growth. RFID vendors are offering pilot kits for the pharmaceutical industry to test and evaluate RFID technology so that clients can understand the technology's costs and benefits.

RFID adoption rate will be low initially due to budget restrictions in the pharmaceutical industry as a result of the global recession and subsequent cost cutting measures. However, the adoption rate is expected to increase rapidly due to mandates from retailers like Wal-Mart and from regulatory authorities like the California Board of Pharmacy for the implementation of e-Pedigree in the supply chain. In essence, RFID is the most promising solution for the elimination of counterfeits in the pharmaceutical supply chain. However, realization of the technology's potential benefits is possible only if apprehensions about the initial costs of implementation, return-on-investment and a weak business case are addressed.

Scope
The scope of this report includes:
• Analysis of the opportunities and challenges for Radio Frequency Identification technology providers in the pharmaceuticals industry
• Market revenues and forecasts for RFID solutions in the global pharmaceutical industry from 2008 to 2015
• The market for RFID hardware, software and services in the pharmaceutical industry including track-and-trace solutions and e-Pedigree solutions
• Qualitative analysis of the market drivers, barriers, future outlook and challenges for RFID adoption in the pharmaceutical industry
• Coverage of key geographies including the US, Germany, the UK, France, Spain, Italy and Japan
• Analysis of technology adoption framework for RFID hardware, software and services in the pharmaceutical industry
• Information and analysis on the competitive landscape and the leading market players such as Alien Technologies, SupplyScape, Zebra Technologies Corporation, TAGSYS and IBM.

Reasons to Buy
The report will enhance your decision making and will enable you to:
• Formulate strategies to increase your company's growth by understanding the new growth opportunities for RFID technologies within the pharmaceutical market
• Draft efficient strategies by understanding best practices, identifying key winners and losers and who is best positioned to take advantage of the emerging market opportunities
• Overcome regulatory and technology hurdles by identifying the key trends shaping and driving the RFID markets in pharmaceutical industry
• Make more informed business decisions from the insightful and in-depth analysis of the market for RFID in pharmaceuticals and the factors shaping its adoption
• Differentiate yourself from competitors and develop new solutions for the pharmaceutical industry by understanding the current competitive landscape and how it is evolving to meet the needs of the pharmaceutical industry

About GBI Research:
GBI Research is a market-leading provider of business intelligence reports. GBI Research covers worldwide markets and issues, supplies actionable data and forecasts and is driven by industry leaders' insights. GBI Research provides a broad spectrum of reports across the healthcare and energy industries and its online offering is easy to navigate—a comprehensive resource for business information needs. Headquartered in the UK, the company has branches in the US and Asia, and provides world class client support and service.

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