ePedigree software: Key market research findings
- Increased demand for pharmaceutical serialization spurs market growth
- The track and trace segment accounts for a majority of the market’s revenue
- Key vendors – Axway, IBM, Oracle, Tracelink, and SAP
The industry experts at Technavio expect the global ePedigree software market to post a revenue of around $4 billion by 2020. Much of the market’s growth can be attributed to the increase in demand for pharmaceutical serialization. Pharmaceutical organizations and manufacturers are investing in ways to peculiarly serialize every unit so that the organizations have better visibility of the supply chain process. A complete serialization requires the complete data of a given product’s chain, right from the manufacturer to the retailer. Since ePedigree is an electronic document where the data is already available for fetching, it reduces the manual effort significantly. In 2015, the Americas dominated the global ePedigree software market by accounting for more than 50% of the global market share. Factors such as increased demand for pharmaceutical serialization, increased focus on anti-counterfeiting measures, and increased regulatory requirements in pharmaceutical industry are expected to fuel further growth of the ePedigree market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the ePedigree software segments based on the technology.
“The market is currently witnessing an upsurge in the adoption of RFID technology. RFID systems for ePedigree solutions are adopted by the healthcare industry to reduce the delivery cycle time of products and the number of defects. They also provide visibility and helps in streamlining supply chain operations. With the help of RFID systems, pharmaceutical companies are able to capture the data and use ePedigree software with big data solutions to analyze the buying trends and patterns of customers and make different promotional schemes to increase sales,” says Ishmeet Kaur, Lead Analyst, ICT, Technavio Research.
During 2015, the track and trace segment accounted for around 50% of the market revenue to become dominant shareholder in the global ePedigree software market. Track and trace technology serves a few important functions such as tracking items through the supply chain, providing traceability of the history of any item, and enabling authentication of the data at any time. Serialization, bar codes, radio-frequency identification (RFID) tagging, and topography or unique surface markings are a few of the techniques used in this technology.
The key vendors in the global ePedigree software market include Axway, IBM, Oracle, Tracelink, and SAP. The market offers several growth opportunities for vendors, irrespective of their size. Large players with established brand names and proven capabilities are likely to target the major enterprises, due to their ability to cater to ever-changing pharmaceutical supply chain requirements. However, the market has a significant untapped small and medium-sized enterprise segment that includes aggressive buyers of advanced technologies.
A more detailed analysis is available in the Technavio report, Global ePedigree Software Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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