RFID In Pharmaceuticals Market 2030: Innovations in Drug Tracking
The global market for RFID in pharmaceuticals was valued at USD 4.7 billion in 2022 and is projected to reach USD 8.7 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. One of the primary growth drivers is the enforcement of stringent regulatory guidelines designed to secure drug supply chains, especially amid rising concerns over counterfeit medications. There is also a notable increase in demand for efficient supply chain management solutions within the pharmaceutical sector. The deployment of advanced Radio-frequency Identification (RFID) technologies, along with the growing integration of RFID tags for drug authentication, real-time tracking, and traceability, are expected to propel market expansion. The surge in counterfeit drug incidents remains a key factor accelerating RFID adoption across the industry. The COVID-19 pandemic significantly intensified the issue of counterfeit medical products. For example, according to the Authentica...