The hottest RFID performs well in the pharmaceutic

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RFID has performed well in the pharmaceutical and health care market. Frost Sullivan's market report said that radio frequency identification (RFID) will change the pharmaceutical and health care industry. In addition to economic and supply chain factors, potential benefits also extend to patient safety and the efficiency of the treatment process. In the past five years, with the continuous diversification of the application fields of radio frequency identification (RFID) technology, the vibration it has brought has become an opportunity. In the volume driven vertical market, such as the pharmaceutical and retail industries, the passive use of RFID technology is increasing, so the market is experiencing a huge development opportunity

the health care and pharmaceutical market will soon become one of the most promising vertical markets for RFID technology in the future. With the development of drugs and the development of clinical trials, RFID will improve the safety of patients and the efficiency of treatment process. Moreover, it can manage basic assets and hospital equipment, and reduce the occurrence of counterfeiting and drug fleeing. Due to the emergence of high-quality products and profits, the commercial feasibility of this technology makes it a more powerful empirical case in this market. However, RFID is relatively new in the health care market in order to achieve comprehensive, harmonious and sustainable development. The most trusted thing for end users is barcode, and many companies accept the slow development of technology

the analysis results obtained from the report "RFID in the global health care and pharmaceutical application market" revealed that the revenue of RFID in the health care and pharmaceutical application market in 2004 was 370million US dollars, and it is predicted that it will increase to 2318.8 million US dollars by 2011. In 2004, compared with the previous year, the growth rate of the market was not very large, 11.8%. During the forecast period, the market is expected to grow at a compound annual growth rate (CAGR) of 29.9%

however, with the emergence of regulatory recommendations, RFID investment in medicine and patient tracking is also increasing. The initial benefits came from retail trusteeship in North America and Europe, because these regions require that the pharmaceutical chain must be supported by some kind of store that accepts RFID tags

pharmaceutical companies are now focusing on pilot activities to integrate this technology into their supply chain. However, the development speed will be inconsistent regionally, because the vast majority of R & D centers are concentrated in North America. Europe is still stagnant on issues related to standards, frequency and the lack of government driven initiative. The Asia Pacific region has shown initiative in patient tracking and anti-counterfeiting measures, so rdif has great growth potential in this region

traditionally, RFID technology will be used in asset management and device tracking applications. It is hoped that with the development of management and legislation, this technology will show great application potential in drug tracking. At the same time, ensuring the security of the pharmaceutical supply chain will also drive all parties to implement large-scale deployment of RFID. The technical benefits throughout the application are still focused on security

the report indicates that in terms of revenue and growth rate of health care and pharmaceutical market, the U.S. market is the largest RFID application market, and the growth rate is the fastest, with a compound annual growth rate (CAGR) of 31.3%. The growth rate will vary greatly in different geographical regions. The US market is the "engine" of the Americas, followed by Canada, followed by Asia Pacific, Europe and the Middle East

in the application of the three analyses, the drug tracking market is expected to have the strongest compound annual growth rate (CAGR), which will be close to 32.8% in the forecast period. Followed by the medical device tracking market, with a compound annual growth rate (CAGR) of 28.9%

the RFID application market of health products has developed from the initial stage of repeated experiments to the initial stage of application. In the vertical market of health products, RFID has considerable potential, because it will have a direct impact on services. The successful implementation of RFID depends on the system compatibility already in place. The U.S. Food and Drug Administration and the health insurance circulation and act (HIPPA) introduced in 1996 can more effectively ensure the application of this technology in the vertical market of health products

rfid is widely used in health care products market and pharmaceutical supply chain. In terms of application fields, it can be broadly divided into health care and pharmaceutical markets. In the vertical market of health care products, its categories include staff and patient tracking, device tracking, patient check-in and registration, and patients' own services such as paying bills, drug consumption and disposal, and updating medical record cards. On the other hand, for the pharmaceutical supply chain, the typical application fields are drug development laboratories and drug tracking in the supply chain from development to retail

tortuous road ahead

there are still many unsolved problems in the growth of RFID technology in the existing market. One of them is compatibility. RFID solutions require the integration of existing technologies. In the short term, the comprehensive inspection of the system is not a wise decision to obtain return on investment (ROI). For the production itself, it is crucial for manufacturers to integrate the RFID labeling process into the supply chain. Existing RFID systems also need some compatibility to upgrade to newer protocols and get more development

the cost of RFID application is another concern of this industry. The price of each bar code tag is $0.001, but the price of RFID tags is close to 20 to 25 cents each. Since the vertical market of health products is not the traditional market of labels, the challenge of cost factors is quite threatening. Pharmaceutical companies have only recently begun tracking their supply chains. To label products with expensive price, especially in the field of medical equipment, we need to consider the enforceability of RIFD system

privacy infringement in RFID system makes end users worried about security. This issue seems to be more sensitive after the FDA passed the resolution of implanting chips into the human body. Manufacturers will have to be busy coming up with solutions, because the same problems will hinder their early application of this technology

reasons for smiling

in addition to the above restricted factors, there are other factors that can be discussed with you by the newly elected chairman Guo Xinqi to help the market grow. One of them is the possibility of improving operational efficiency. Using RFID requires an in-depth understanding of business processes. This also provides an opportunity for enterprises to improve their processes and gain competitive advantage. By improving operation efficiency, it can also know the location of key people and key equipment in real time. In terms of rent and labor, real-time tracking of medical equipment can achieve cost control. Medical places, especially hospitals, can gain a stronger competitive advantage from the services they provide

it is expected that when patients who have been given false examinations or receive imperfect treatment file lawsuits, tracking function can also work to avoid such things. Although it is still easy to make mistakes, people expect RFID system to reduce the frequency of such situations and reduce the risk level of errors when it is operated correctly

another driver is to try to control the possibility of harm caused by counterfeit drugs. Every year, the global profit loss caused by counterfeit drugs is US $15billion

parallel transactions and going to pharmacies are also a problem. RFID technology provides a way to identify drugs developed and sold by pharmacies themselves. However, compared with barcode, the high cost of RFID tag is of concern

the FDA report - "fight fake drugs to the end", published on February 18th, 2004, has squared up to the critical role of RFID technology in the safety of drug supply. At the end of the report mentioned above, a relevant policy issued in November 2004 has promoted the implementation of feasibility studies and pilot experiments related to RFID. The FDA's recommendations have led many states, including California and Florida, to require the tracking of shipped drugs through the supply chain. There are also many other examples of active attack, such as the operation of cimit, an authoritative organization, which uses rotating metal wheels to drive abrasive materials such as mineral sand, gravel and sediment mixed with water to carry out wear experiment on alloy materials, and the project of "the room of the future (ORF)". The project was launched to explore the impact of new technology platforms and systems to monitor patient care safety and efficacy with high technology and minimal invasion of privacy. Another such example is the safety directive proposed by HIPAA and the Joint Committee on medical institution review (JCAHO) in 1996, which is expected to enable hospitals to meet the requirements of the security and Privacy Act

pilot study on future potential

eight manufacturing enterprises participated in the pilot experiment with a simple three-month manufacturing process, including Merck, Novartis and Solvay. The experiment ended in January 2005 by attaching RFID tags to about 180000 bottles of drugs to counter the illicit drug trade. The system, known as authentication at the point of distribution (APOD), can identify the name and dose of prescriptions, expiration date and recall. Other companies implementing pilot projects include GlaxoSmithKline and Purdue Pharma, which produce Oxycontin painkillers. The two companies have started pasting RFID tags on pallets according to Wal Mart's requirements

source: packaging Expo

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