Dublin, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The "Smart Labels Market by Type of Technology, Type of Packaging, Type of Primary Packaging, Type of Secondary Packaging and Key Geographical Regions - Industry Trends and Global Forecasts, 2022-2035" report has been added to ResearchAndMarkets.com's offering.
This report features an extensive study of the current market landscape and future opportunities associated with the smart pharmaceutical and healthcare labels, offering in-depth analyses of the various business entities engaged in this domain, across different segments.
The annual market for counterfeit drugs is estimated to be USD 200 billion and this value is believed to be expanding rapidly. As per a report published by the World Health Organization (WHO), 20% of counterfeit pharmaceuticals include an incorrect amount of the active ingredient, while 30% of the counterfeit drugs contain no active ingredient at all.
Such illegal practices are likely to endanger the lives of the patients, as well as tarnish the developer company's reputation. In order to overcome the aforementioned concerns, label service providers have strengthened the ongoing labelling practices and are shifting towards smart labelling technologies. 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, and tamper proofing, discouraging counterfeit drugs packaging.
In this context, it is worth mentioning that the smart labelling technology is expected to save USD 0.8 - 1.5 million per year per company, through their applications in inventory management. Despite numerous growth drivers for adopting smart label technologies, there are some factors that may hinder the immediate uptake of smart label technologies.
These include high price of integrating the technology as well as lack of well-established regulatory standards across the globe. Such considerations may also prevent investment opportunities for smart label technologies. It is worth highlighting that, in the recent years, consortiums, such as GS1 standards and RAIN Alliance, have been established to standardize global regulations.
At present, various types of smart labels, including radio frequency identification device labels (RFID), internet of things (IoT) labels, bluetooth labels and others, are being deployed across various applications in the pharmaceutical and healthcare markets; these include supply chain management, asset tracking, patient tracking and clinical trial labelling. Currently, more than 90 companies are engaged in providing these labels for various applications.
In addition, with an aim to diversify their area of application and enhance their existing product portfolios, players engaged in providing smart pharmaceutical and healthcare labels are actively collaborating with other industry stakeholders. It is also worth mentioning that over 400 patents related to smart labels have been filed / granted, highlighting the continuous pace of innovation in this field.
Driven by the growing demand for authentic and efficient drugs and ongoing efforts of players to integrate sophisticated features in the product design and affiliated technology, the smart pharmaceutical and healthcare labels market is likely to witness noteworthy growth over the coming years.
Frequently Asked Questions
- 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 type 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?
- Which companies are actively filing patents to drive innovation in the field of smart pharmaceutical and healthcare labels?
- What are the key challenges associated within the smart pharmaceutical and healthcare labels market?
- What is the current / likely future market size of smart pharmaceutical and healthcare labels?
Key Topics Covered:
1. PREFACE
2. EXECUTIVE SUMMARY
3. INTRODUCTION
3.1. Chapter Overview
3.2. Role of Smart Labels in the Healthcare Sector
3.2.1 Types of Smart Labels
3.2.1.1. Radio Frequency Identification Device (RFID)
3.2.1.2. Near-Field Communication (NFC)
3.2.1.3. Internet of Things (IoT)
3.2.2. Need for Smart Labels in the Healthcare Sector
3.2.3. Advantages of Using Smart Labels in Healthcare Sector
3.3. Roadblocks and Challenges Associated with the Adoption of Smart Labels
3.4. Adoption of Smart Labels in the Healthcare Sector
3.4.1. Key Drivers for Adoption of Smart Labels
3.5. Future Outlook
4. MARKET LANDSCAPE
4.1. Chapter Overview
4.2. Smart Pharmaceutical and Healthcare Label Providers: Overall Market Landscape
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Location of Headquarters
4.2.4. Analysis by Company Size and Location of Headquarters
4.2.5. Analysis by Type of Technology
4.2.6. Analysis by Company Size and Type of Technology
4.2.7. Analysis by Type of RFID Frequency Band
4.2.8. Analysis by Area(s) of Application
4.2.9. Analysis by Company Size and Area(s) of Application
4.2.10. Analysis by Type of Technology and Area(s) of Application
5. COMPANY COMPETITIVENESS ANALYSIS
5.1. Chapter Overview
5.2. Assumptions / Key parameter
5.3. Methodology
5.3.1. Smart Pharmaceutical and Healthcare Label Providers based in North America
5.3.2. Smart Pharmaceutical and Healthcare Label Providers based in Europe
5.3.3. Smart Pharmaceutical and Healthcare Label Providers based in Asia-Pacific
5.4. Company Competitiveness Analysis: Benchmarking the Capabilities of Leading Players
6. COMPANY PROFILES
6.1. Chapter Overview
6.2. CCL Industries
6.2.1. Company Overview
6.2.2. Financial Information
6.2.3. Area(s) of Application
6.2.4. Recent Developments and Future Outlook
6.3. Schreiner
6.3.1. Company Overview
6.3.2. Area(s) of Application
6.3.3. Recent Developments and Future Outlook
6.4. Datalogic
6.4.1. Company Overview
6.4.2. Financial Information
6.4.3. Area(s) of Application
6.4.4. Recent Developments and Future Outlook
6.5. Tadbik
6.5.1. Company Overview
6.5.2. Area(s) of Application
6.5.3. Recent Developments and Future Outlook
6.6. SATO
6.6.1. Company Overview
6.6.2. Financial Information
6.6.3. Area(s) of Application
6.6.4. Recent Developments and Future Outlook
6.7. Invengo
6.7.1. Company Overview
6.7.2. Area(s) of Application
6.7.3. Recent Developments and Future Outlook
6.8. Intellhydro Technology
6.8.1. Company Overview
6.8.2. Area(s) of Application
6.8.3. Recent Developments and Future Outlook
6.9. RFiD Discovery
6.9.1. Company Overview
6.9.2. Area(s) of Application
6.9.3. Recent Developments and Future Outlook
6.10. ID Tech Solutions
6.10.1. Company Overview
6.10.2. Area(s) of Application
6.10.3. Recent Developments and Future Outlook
7. PATENT ANALYSIS
7.1. Chapter Overview
7.2. Scope and Methodology
7.3. Smart Pharmaceutical and Healthcare Labels: Patent Analysis
7.3.1. Analysis by Publication Year
7.3.2. Analysis by Publication Year and Type of Patent
7.3.3. Analysis by CPC Code
7.3.4. Analysis by Type of Applicant
7.3.5. Analysis by Geography
7.3.6. Analysis by Emerging Focus Areas
7.3.7. Leading Industry Players: Analysis by Number of Patents
7.4. Smart Pharmaceutical and Healthcare Labels: Patent Benchmarking Analysis
7.4.1. Analysis by Patent Characteristics
7.5. Smart Pharmaceutical and Healthcare Labels: Patent Valuation Analysis
8. PARTNERSHIPS AND COLLABORATIONS
8.1. Chapter Overview
8.2. Partnership Models
8.3. Smart Pharmaceutical and Healthcare Labels: Recent Partnerships and Collaborations
8.3.1. Analysis by Year of Partnership
8.3.2. Analysis by Type of Partnership
8.3.3. Most Active Players: Analysis by Number of Partnerships
8.3.4. Regional Analysis
8.3.4.1. Local and International Agreements
8.3.4.2. Intercontinental and Intracontinental Agreements
9. BLUE OCEAN STRATEGY
9.1. Chapter Overview
9.2. Overview of Blue Ocean Strategy
9.2.1 Red Ocean
9.2.2 Blue Ocean
9.2.3 Comparison of Red Ocean Strategy and Blue Ocean Strategy
9.2.4. Smart Pharmaceuticals and Healthcare Labels: Blue Ocean Strategy and Shift Tools
9.2.4.1. Value Innovation
9.2.4.2. Strategy Canvas
9.2.4.3. Four Action Framework
9.2.4.4. Eliminate-Raise-Reduce-Create (ERRC) Grid
9.2.4.5. Six Path Framework
9.2.4.6. Pioneer-Migrator-Settler (PMS) Map
9.2.4.7. Three Tiers of Noncustomers
9.2.4.8. Sequence of Blue Ocean Strategy
9.2.4.9. Buyer Utility Map
9.2.4.10. The Price Corridor of the Mass
9.2.4.11. Four Hurdles to Strategy Execution
9.2.4.12. Tipping Point Leadership
9.2.4.13. Fair Process
9.3. Concluding Remarks
10. MARKET SIZING AND OPPORTUNITY ANALYSIS
11. SWOT ANALYSIS
11.1. Chapter Overview
11.2. Strengths
11.3. Weaknesses
11.4. Opportunities
11.5. Threats
11.6. Comparison of SWOT Factors
12. CONCLUDING REMARKS
13. APPENDIX I: TABULATED DATA
14. APPENDIX II: LIST OF COMPANIES AND ORGANIZATIONS
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