Global Smart Labels Market Report 2022 to 2035: Players Include CCL Industries, Schreiner, Datalogic and SATO - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2023--
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.
- CCL Industries
- Intellhydro Technology
- RFiD Discovery
- ID Tech Solutions
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:
2. EXECUTIVE SUMMARY
4. MARKET LANDSCAPE
4.1. Chapter Overview
4.2. Smart Pharmaceutical and Healthcare Label Providers: Overall Market Landscape
5. COMPANY COMPETITIVENESS ANALYSIS
5.1. Chapter Overview
5.2. Assumptions / Key parameter
5.4. Company Competitiveness Analysis: Benchmarking the Capabilities of Leading Players
6. COMPANY PROFILES
7. PATENT ANALYSIS
7.1. Chapter Overview
7.2. Scope and Methodology
7.3. Smart Pharmaceutical and Healthcare Labels: Patent Analysis
7.4. Smart Pharmaceutical and Healthcare Labels: Patent Benchmarking Analysis
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
9. BLUE OCEAN STRATEGY
9.1. Chapter Overview
9.2. Overview of Blue Ocean Strategy
9.3. Concluding Remarks
10. MARKET SIZING AND OPPORTUNITY ANALYSIS
11. SWOT ANALYSIS
12. CONCLUDING REMARKS
13. APPENDIX I: TABULATED DATA
14. APPENDIX II: LIST OF COMPANIES AND ORGANIZATIONS
For more information about this report visit https://www.researchandmarkets.com/r/4di2vr
View source version on businesswire.com:https://www.businesswire.com/news/home/20230103005602/en/
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INDUSTRY KEYWORD: PACKAGING PHARMACEUTICAL HEALTH MANUFACTURING
SOURCE: Research and Markets
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PUB: 01/03/2023 11:07 AM/DISC: 01/03/2023 11:07 AM