The report segments the global ePedigree software market by deployment (on-premises and cloud) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global ePedigree software market, according to Technavio ICT researchers:
- Rising requirements for product serialization to tackle counterfeiting: a major market driver
- High-tech developments to smarten the pharma supply chain: emerging market trend
- The Americas dominated the global ePedigree software market with 43% share in 2016
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Product serialization to tackle counterfeiting: a major market driver
Drug counterfeiting is a worldwide phenomenon and has been existing for decades. The situation now is worse than ever due to the proliferation of Internet sales, inefficient supply chains, and the general lack of stringent regulations. The overall counterfeit drugs market is estimated to be worth billions of dollars, with countries such as India and China being the manufacturing hub for these drugs.
The rate at which drug diversion, counterfeiting, and other such issues have been increasing is alarming and creating serious public safety issues across the world. Such issues are impacting consumer confidence, damaging goodwill, and draining billions of dollars from the entire pharma industry. The fake and counterfeit products can have dire consequences on the market, therefore, the importance of maintaining accuracy of the complex pharma supply chain is the key factor that drives the growth of the global ePedigree software market.
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High-tech developments to smarten the pharma supply chain: emerging market trend
Drug counterfeiting is a worldwide phenomenon with the general fake medication industry expected to be worth billions of dollars. This issue has been existing for a long time and can be attributed to the lack of quality control in the complex pharma supply chain. High-tech developments to smarten the pharma supply chain will help to reduce the losses incurred due to counterfeit products.
According to a senior analyst at Technavio for research on enterprise application, “Cloud computing, RFID technology, barcode scanners, and tag printers are expected to support the appropriation of cutting-edge systems across the pharma production and supply chain network. This will help in the development of the global ePedigree software market. Serialization and the adoption of ePedigree systems will guarantee extended visibility and expanded cooperation among the stakeholders in the pharma value chain.”
Global market opportunities
In terms of regional dominance, the Americas dominated the global ePedigree software market, followed by EMEA and APAC in 2017. The dominance of the Americas is primarily due to the overall maturity and growth of the pharma sector. Stringent government regulations that are expected to come into effect during the forecast period are another major reason for the large market share of this region.
EMEA is an attractive market for ePedigree software players. The driving factor for growth in EMEA is the presence of some of the most advanced economies with stringent and well-defined regulatory standards in the pharma sector.
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