DUBLIN--(BUSINESS WIRE)--The "Future-proof Pharma Labels - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Future-proof Pharma Labels Market is growing at a CAGR of 16.1% during the forecast period.
Some of the key factors propelling the market growth include increasing counterfeiting cases, increasing adoption of smart technologies, and mitigation of non-adherence. However, lack of standards and additional cost are likely to restraint the market.
The future-proof labeling technology is set to transform the pharmaceutical industry, 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. Future-proofing label technologies provide the solutions that can be used by the organizations for redirecting losses into investments in packaging, and potentially into profits.
By technology, radio-frequency identification (RFID) segment is anticipated to grow at the significant rate during the forecast period.
RFID technology has become essential across a wide range of industries. 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 pharmaceutical industry. RFID readers are being deployed for more efficient and potentially life-saving when used for monitoring drug quality and movement of the product.
On the basis of geography, Asia-Pacific region is expected to have considerable market growth during the forecast period, due to increasing demand for anti-counterfeiting measures to be taken by the pharma companies in this area. A change in China's patent law has encouraged more R&D effort and less generic drug manufacture in recent years.
The degree of traceability that integrates RFID with consumer-scannable codes like QR can provide is expected to be an all-important link to the supply chain to prevent counterfeiting across the region. Moreover, India is also one of the top pharmaceutical manufacturers in the world. Most of the pharmaceutical exporters in India are expected to use future-proof labels to meet the safety and security regulations of importing countries.
What the report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
- UPM Raflatac, Inc.
- Loftware, Inc.
- Schreiner Group
- Covectra, Inc.
- NiceLabel (Euro Plus d.o.o.)
- CCL Industries Inc.
Avery Dennison Corporation
For more information about this report visit https://www.researchandmarkets.com/r/mbvvnt