The Smart Pharmaceutical and Healthcare Labels Market is anticipated to grow at a CAGR of 16%, till 2035, claims Roots Analysis

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Apr 05, 2023, 10:45 ET

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

LONDON, April 5, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Smart Pharmaceutical Labels 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.

To order this 160+ pages report, which features 85+ figures and 70+ tables, please visit the link

Key Market Insights

More than 90 companies claim to offer smart pharmaceutical labels 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 constitute more than 75% of the total number of smart label providers in pharmaceutical and healthcare sectors. Further, ~20% of the 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 (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 hold 33% share of the total market. In addition, RFID based smart labels are likely to capture more than 75% of the market in 2035.

To request a sample copy / brochure of this report, please visit https://www.rootsanalysis.com/reports/smart-labels-market/request-sample.html

Key Questions Answered

Who are the leading players engaged in the development of smart pharmaceutical labels 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

RFID
NFC
Other Technologies

Type of packaging

Primary Packaging
Secondary Packaging

Type of Primary Packaging

Vials
Syringes
Cartridges
Ampoules
Bottles
Blister Packs

Type of Secondary Packaging

Boxes
Cartons
Pouches

Key Geographical Regions

North America
Europe
Asia-Pacific
MENA
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: