Global EPedigree Software Market 2016-2020
Overview of the global ePedigree software market
Market research analysts at Technavio have predicted that the global ePedigree software market will grow impressively during the predicted period and will post a revenue of almost USD 4 billion by 2020. The rapidly increasing number of counterfeit products in the market will increase the demand for pharmaceutical serialization which will be one of the primary growth factors for this market. Product serialization identifies every product by a unique serial number, shelf life, and batch number and helps in monitoring the lifecycle of the drug right from the production stages to delivery. The serialization process is difficult to implement in the manufacturing process and requires a comprehensive system that can keep track of all drugs through the entire supply chain. Several organizations and pharmaceutical manufacturers have already started focusing on developing methods to track efficiently and trace prescription drugs. Since ePedigree is an electronic document where the data is already available for fetching, the coming years will witness an increasing demand for ePedigree software, especially from the pharmaceutical industry.
Radio frequency identification (RFID) system utilizes radio waves for collecting data from a tag attached to a product and can be used in tracking objects and in automatic identification. They provide real-time information about the status of goods to customers and manufacturers and also help in reducing the cost of operations by reducing the delivery time and defects. As a result, there will be an increasing adoption of RFID systems for ePedigree solutions, which will not only help in tracking products but also to analyze buying trends and patterns. This, in turn, will help businesses deduce different promotional strategies to increase sales.
Competitive landscape and key vendors
The market appears to be fragmented due to the presence of several multinational vendors who have established a sizeable presence in the global market. The high demand for ePedigree software, especially among pharmaceutical companies, will intensify the level of competition among vendors. Large well-established players are likely to target major enterprises, as they have the ability to cater to the ever-changing pharmaceutical supply chain requirements. They will also acquire smaller vendors to expand their product portfolio and increase their market share and in turn, will have an opportunity to enter new markets. Since all vendors are trying to sustain the competition by improving their delivery models and products, there will be a considerable increase in the number of M&As during the predicted period, resulting in market consolidation.
The leading vendors in the market are -
The other prominent vendors in the market are Aptean, Cyclone Commerce, JDA Software, rfXcel, and MAXLife.
Segmentation by technology and analysis of the ePedigree software market
- Track and trace
- Forensic techniques
- Visible features
- Hidden markers
During 2015, the track and trace technology segment accounted for about 50% of the total market share and dominated the industry. Track and trace software helps in tracking items through the supply chain, provides traceability of the history of any item, and also enables authentication of data at any time. Barcodes and RFID tags are some of the most commonly used track and trace techniques.
Geographical segmentation and analysis of the ePedigree software market
Posting an impressive revenue of almost USD 2 billion, the Americas will dominate the ePedigree software market by 2020 and will also dominate this market throughout the forecast period. The US is the major revenue contributor to the region. The existence of a large number of global pharmaceutical vendors and the increase in demand for pharmaceutical serialization will fuel the demand for the market in this region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global ePedigree software market?
- What are the key market trends impacting the growth of the global ePedigree software market?
- What are the challenges to market growth?
- Who are the key vendors in the global ePedigree software market?
- What are the market opportunities and threats faced by the vendors in the global ePedigree software market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global ePedigree software market?
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