| Summary | | | | services include installation, integration, training, |
| The leading business intelligence provider, has | | | | maintenance and IT support. |
| released its latest research, "Radio Frequency | | | | GBI Research's analysis suggests that the RFID |
| Identification (RFID) in Pharmaceuticals - Supply Chain | | | | technology is in the early stages of adoption within |
| Security Concerns Provides Impetus for RFID | | | | the pharmaceutical industry. The market for RFID in |
| Adoption." It provides key data and analysis of the | | | | pharmaceuticals is hampered by low adoption rates |
| major factors affecting the market for RFID in the | | | | due to apprehensions over high investments and the |
| pharmaceuticals industry. This pharmaceutical and | | | | lack of a clear business case. However, solutions for |
| healthcare report also analyzes the strengths, | | | | the pharmaceutical industry are evolving to address |
| weaknesses, opportunities and threats in the RFID | | | | the concerns responsible for the slow growth. RFID |
| market within the pharmaceutical industry and the | | | | vendors are offering pilot kits for the pharmaceutical |
| key market drivers and barriers to the adoption of | | | | industry to test and evaluate RFID technology so |
| RFID in the industry. | | | | that clients can understand the technology's costs |
| The report is based on proprietary databases, | | | | and benefits. RFID adoption rate will be low initially |
| primary and secondary research, and in-house analysis | | | | due to budget restrictions in the pharmaceutical |
| by GBI Research's team of industry experts. | | | | industry as a result of the global recession and |
| The global market for Radio Frequency Identification | | | | subsequent cost cutting measures. However, the |
| (RFID) products and services in the pharmaceutical | | | | adoption rate is expected to increase rapidly due to |
| industry was valued at $112m in 2008 and is | | | | mandates from retailers like Wal-Mart and from |
| expected to grow to $884m in 2015 at a CAGR of | | | | regulatory authorities like the California Board of |
| 34% over the same period. The market for RFID | | | | Pharmacy for the implementation of e-Pedigree in the |
| hardware is the largest at the initial stages of | | | | supply chain. In essence, RFID is the most promising |
| adoption in the pharmaceutical industry. Service | | | | solution for the elimination of counterfeits in the |
| providers are gaining market share by integrating | | | | pharmaceutical supply chain. However, realization of |
| their services with one-stop solutions. The share of | | | | the technology's potential benefits is possible only if |
| hardware in the RFID market is estimated to be | | | | apprehensions about the initial costs of |
| 60% in 2008 and includes tags, readers and label | | | | implementation, return-on-investment and a weak |
| printers. The share of software and services in the | | | | business case are addressed. |
| RFID market is estimated to be 40% in 2008. RFID | | | | |