The adoption of smart pharmaceutical labels by the pharmaceutical industry can eliminate the aforementioned concerns that are currently faced by the healthcare sector. A pictorial summary, highlighting the advantages of smart labels.
§ Product Tracking: Currently, hospitals and industry stakeholders are required to keep track of radioactive isotopes wherever they are located, from storage to transit to administration to disposal. These processes may be automated with RFID tags and scanners, saving time and resources. Seal integrity for containers and individual items may be checked with active RFID tags that have read / write capability. Even issues that arise in the middle of a shipment can be identified due to the tag's ability to record the timing and length of seal loss.
§ Supply Chain Tracking: Smart label tracking across the supply chain provides businesses with the knowledge of the whole sourcing and product path and aids in preventing grey market diversion, selling of goods by unauthorized reseller.
Based on type of technology our estimates suggest that the overall market is likely to be driven by revenues generated through RFID; this can be attributed to the fact that RFID represents the highest percentage of the total smart labels market in 2022. According to our projections, presently, the smart pharmaceutical and healthcare labels market markets in North America and Europe are likely to capture the highest (67%) share.
For additional details, please visit https://www.rootsanalysis.com/reports/smart-labels-market.html
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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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Ben Johnson
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Ben.johnson@rootsanalysis.com
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