RFID Not Embraced by Pharma Industry as Anti-Counterfeiting Measure

A report put out by IDTechEx states that less than 1% of the RFID market was used by the Pharmaceutical Market. The global market share for RFID was $5.56 billion up 6% over last year but only 10 million tags were used in the pharmaceutical industry.

So why wouldn’t the pharma industry embrace it after 7 years of a highly intense campaign for its adoption as an anti-counterfeiting tool? The answer comes in its use.

It is primarily an inventory management security tool. You will see RFID tags on items at your local Wal-Mart. You will see them on all your computer software and that new video game that just came out, but not necessarily on Grandma’s medicine.

The truth is -RFID is very helpful at managing your inventory. It will tell you how much you have on stock. Some tags will even beep at the door if someone tries to make off with it without paying. It does help against shoplifting and employee theft. But it does not tell you what is inside. You are still only verifying the package.

To view the article discussing the report visit www.SecuringPharma.com.

IDTechEx is a knowledge based company specializing in RFID smart labels, smart packaging and Radio Frequency Identification RFID. The company gives strictly independent marketing, technical and business advice and services on these subjects.