Pharmaceutical Traceability Market 2017-2021 report states that one of the major factors hindering the growth of this market is No global standard for serialization of drugs across the world.
Pharmaceutical traceability deals with tracking and tracing a drug's history, location, and application at any point in the supply chain. Serialization is a vital part of pharmaceutical traceability, wherein the medicines are provided with a unique serial number at the unit, lot, and pallet level.
This helps in distinguishing the drug from counterfeit drugs and improve the traceability of the pharmaceutical supply chain.
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The analysts forecast global pharmaceutical traceability market to grow at a CAGR of 19.25% during the period 2017-2021. The latest trend gaining momentum in the market is Blockchain technology.
Blockchain is a distributed ledger that records and stores information. The main features that make it unique are decentralization and immutability.
Another feature is the authentication or verification of the product, before adding an information or giving access to information, the technology uniquely identifies the product.
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According to the pharmaceutical traceability market report, one of the major drivers for this market is Growing concern of drug counterfeit and theft. Counterfeit drugs are medicines that are manufactured in a fraudulent manner or can be mislabeled with different ingredients, source or other information.
Illegal diversion of drugs is a major issue. Illegal diversion is the sales of drugs in countries apart from the ones where the drug is legally approved to be sold.
Pharmaceutical theft can occur at any point in the supply chain, like manufacturer, wholesaler or distributor. Customers buy fake medicines either due to the lack of awareness or low price of such drugs.
This report, Global Pharmaceutical Traceability Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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List of Exhibits
Exhibit 01: Supply chain of pharmaceutical industry
Exhibit 02: Benefits of traceability systems
Exhibit 03: Global pharmaceutical traceability market overview
Exhibit 04: Global pharmaceutical traceability market 2016-2021 ($ millions)
Exhibit 05: Five forces analysis
Exhibit 06: Global pharmaceutical traceability market by technology 2016 (% revenue)
Exhibit 07: Global pharmaceutical traceability market by technology 2016-2021(% revenue)
Exhibit 08: Global pharmaceutical traceability market by technology 2017-2021 (% revenue)
Exhibit 09: The global pharmaceutical traceability market by barcode technology 2016-2021 ($ million)
Exhibit 10: Global pharmaceutical traceability by RFID technology 2016-2021 ($ millions) and more..