The latest market research report by Technavio on the global ePedigree software market predicts a CAGR of close to 27 per cent during the period 2018-2022.
Here are some key findings of the global ePedigree software market, according to Technavio ICT researchers:
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.
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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Macallan Whisky picks Izon® Technology as part of a comprehensive anti-counterfeit solution
(De La Rue Authentication Solutions)
The Edrington Group, makers of world renowned The Macallan Highland Single Malt Scotch Whisky, faced a challenge when re-filled used
bottles, intact with labels, began appearing on shelves under their brand name. This posed a serious consumer safety, as well as a global
brand issue. For a solution, they turned to Authentication Solutions for the key overt component of a comprehensive solution.
Epson builds market awareness of authentic product through implementation of layered AC tech
(De La Rue Authentication Solutions)
Epson Latin America estimated that 20% of the product in the market was counterfeit and entering the supply chain through local distributors. The existing anti-counterfeiting ink technology was compromised. Epson developed a new strategy to target unauthorized distributors in key countries and build market awareness of authentic product.
The StellaGuard™ solution leverages the benefits of a barcode and connects it with a three-dimensional visual reference that provides instantaneous authentication with copy-detect protection. StellaGuard™ is a patented and elegant solution to protect your assets, enabling trusted stakeholders, including customers, to authenticate a product using common everyday smart devices.
The smartphone: a new tool to spot fake products
The development of new smartphone technologies offers brands the opportunity to fight counterfeiting more efficiently and drive competitive differentiation by turning their products into smart assets. This paper examines the process of placing the consumer as one of the key actors against illicit trade and creating new business intelligence capabilities for brands.
Pharma Security World 2018: "Anti-counterfeiting and Brand Safety"
March 20-21, 2018 - London, UK
Global Illicit Trade Summit 2018: Out of the shadows
March 22, 2018 - Kuala Lumpur
4XScience 2018 E2E Supply Chain Serialization Benchmark Workshop
March 27-28, 2018 - Brussels, Belgium
Robert Schuman Foundation conference: Smuggling, counterfeiting and the financing of terrorism – mobilising economic stakeholders
April 11, 2018 - Brussels, Belgium
April 17-19, 2018 - New York (NY), USA
4th Global Brand Protection EU Innovation Programme (GBPIP)
April 26-27, 2018 - London, UK
IACC 2018 Annual Spring Conference
May 16-18, 2018 - Seattle (WA), USA
INTA Annual Meeting
May 19-23, 2018 - Seattle (WA), USA
May 29 - June 01, 2018 - Milan, Italy
Partnership for Safe Medicines 2018 Interchange
June 07, 2018 - Washington D.C., USA
June 25-27, 2018 - London, UK
September 2018 (dates tbc) - Switzerland
Rx-360 Global Life Science Supply Chain 2018 Conference: Driving Innovative Quality Strategies
September 25-26, 2018 - Miami (FL), USA
2018 A-CAPP Center Brand Protection Strategy Summit
October 02-03, 2018 - East Lansing (MI), USA
13th Security Document Summit (SDS)
October 17-18, 2018 - Beijing, China
Anti-Counterfeit & Currency Expo (ACCE)
November 06-08, 2018 - Las Vegas (NV), USA