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Report ID: UCMIG35G2193
Report ID:
UCMIG35G2193 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The 2022 valuation of the global pharmaceutical RFID market reached USD 4.7 billion, with projections indicating a 7.8% compound annual growth rate (CAGR) from 2023 to 2030. A significant factor propelling this growth is the heightened enforcement of regulatory standards designed to safeguard the pharmaceutical supply chain against counterfeit drugs. Moreover, the pharmaceutical sector's increasing emphasis on efficient supply chain management is fueling demand. The introduction of advanced Radio-frequency identification (RFID) technology, coupled with the rising utilization of RFID tags for drug authentication, real-time tracking, and traceability, is anticipated to be a key driver of market expansion. The surge in counterfeit drug incidents remains the primary catalyst for the pharmaceutical industry's growing adoption of RFID technology.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Health Care Technology by segment aggregation, the contribution of the Health Care Technology in Health Care Equipment & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35G2193