In order to overcome the limitations and challenges related to counterfeit drugs, researchers and industry stakeholders are gradually adopting smart pharmaceutical and healthcare labels, which offer multiple benefits over conventional labels.
Roots Analysis has announced the addition of “Smart Pharmaceutical and Healthcare Labels Market, 2022-2035” report to its list of offerings.
A smart label comprises of printed information, a bar code identifier and a small transponder. This transponder contains a processing chip and an antenna that allows physical objects to communicate with the tag reader (for instance, RFID reader). Smart labels offer several benefits, such as tracing and tracking products in a supply chain, tamper proofing, as well as discouraging counterfeiters from packaging fake drugs. In this context, it is worth mentioning that smart labelling technology can potentially save USD 0.8 – 1.5 million per year, per company, through their applications in inventory management.
Key Market Insights
More than 90 companies claim to offer smart pharmaceutical and healthcare labels, globally
This segment of the industry is dominated by the presence of mid-sized (51-500 employees) and small (less than 50 employees) players, which collectively represent more than 75% of the total smart label providers in pharmaceutical and healthcare sectors. Further, ~20% of firms were established post-2010.
400+ patents related to smart pharmaceutical and healthcare labels were filed / granted, since 2015
Based on intellectual property distribution across the world, R&D activity related to smart pharmaceutical and healthcare labels is largely concentrated in North America (over 65%), followed by Europe (10%). In addition, most of the patents have been granted patent (55%), followed by patent applications (44%).
Partnership activity in this domain has increased at a significant pace, between 2018 and 2022
The recent partnerships trend in this market indicates the growing interest of industry stakeholders. It is worth highlighting that majority of the deals were service alliances, representing around 41% of the total number of partnerships signed in the given time period.
North America and Europe are anticipated to capture over 65% of the market share by 2035
The markets in Asia-Pacific and Latin America are anticipated to grow at a relatively faster pace. In the long-term, the aforementioned regions are expected to collectively represent 33% of the total market share. In addition, RFID based smart labels are likely to capture more than 75% of the market share in 2035.
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Key Questions Answered
- Who are the leading players engaged in the development of smart pharmaceutical and healthcare labels?
- What is the relative competitiveness of different smart pharmaceutical and healthcare labels providers?
- Which types of partnership models are most commonly being adopted by stakeholders engaged in this domain?
- What are the key strategies that can be implemented by emerging players / start-ups to enter the highly competitive market for smart labels for the healthcare sector?
- Which companies are actively filing patents to drive innovation in the field of smart pharmaceutical and healthcare labels?
- What are the key challenges within the smart pharmaceutical and healthcare labels market?
- What is the current / likely future market size of smart pharmaceutical and healthcare labels?
The financial opportunity within the smart pharmaceutical and healthcare labels market has been analyzed across the following segments:
- Type of Technology
- Other Technologies
- Type of packaging
- Primary Packaging
- Secondary Packaging
- Type of Primary Packaging
- Blister Packs
- Type of Secondary Packaging
- Key Geographical Regions
- North America
- Latin America
The report includes detailed profiles of key players (listed below) engaged in providing smart pharmaceutical and healthcare labels; each profile features an overview of the developer, details related to smart labels focused product portfolio, recent developments and an informed future outlook:
- CCL Industries
- Intellhydro Technology
- RFiD Discovery
- ID Tech Solutions
For additional details, please visit https://www.rootsanalysis.com/reports/smart-labels-market.html or email [email protected]
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About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights.
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