The global epedigree software market size reached US$ 5.0 Billion in 2023. Looking forward, the market is projected to reach US$ 15.4 Billion by 2032, exhibiting a growth rate (CAGR) of 13.31% during 2023-2032. The increasing need for serializability, integration of advanced technologies, and the expansion of e-commerce platforms in the pharmaceutical sector represent some of the key factors driving the market.
Epedigree software keeps an electronic record of changes in the ownership of a pharmaceutical product for drug authentication. It allows a single view of the product and order and aids in protecting consumers from contaminated medicine and counterfeit drugs. It provides a high level of accuracy, protects brand value, enhances operational efficiency, guarantees compliance, and lowers labor and inventory costs.
It is easy and fast to implement, improves the pharmaceutical supply chain security, and delivers the lowest total cost of pedigree management. At present, the expansion of e-commerce platforms in the pharmaceutical sector on account of rapid digitization, increasing internet connectivity, and the rising penetration of smart devices is driving the demand for epedigree software across the globe.
This, coupled with the rising integrating of advanced technologies, including quick response (QR) codes, barcodes, cloud computing, advanced analytics, big data, and radio frequency identification (RFID), the internet of things (IoT) with pharma supply chain, is impelling the market growth. Key players are incorporating virtual assistants, augmented reality (AR), machine learning (ML), and virtual reality (VR) to support the appropriation of cutting-edge systems across the supply chain network and pharma productions. These technological solutions assist in the processing of a pharmaceutical drug from manufacturing and distribution until the drug reaches the consumer.
They also enable better stock management and lead to the reduction in costs incurred in terms of inventory maintenance, wastage of products, and storage of drugs. Furthermore, the incorporation of cloud-based solutions and blockchain technology for making the whole supply chain smarter and more efficient with end-to-end quality control solutions is influencing the market positively. Besides this, the growing necessity to maintain the integrity of the complex pharma supply chain is creating a positive outlook for the market.
According to the report, North America was the largest market for epedigree software. Some of the factors driving the North America epedigree software market included a considerable reliance on e-commerce platforms, a rising number of clinical researches, and stringent regulations imposed by governing authorities to reduce drug fabricating and product diversion.
2. What is the expected growth rate of the global epedigree software market during 2024-2032?
3. What are the key factors driving the global epedigree software market?
4. What has been the impact of COVID-19 on the global epedigree software market?
5. What is the breakup of the global epedigree software market based on the deployment type?
6. What is the breakup of the global epedigree software market based on the enterprise size?
7. What is the breakup of the global epedigree software market based on the application?
8. What are the key regions in the global epedigree software market?
9. Who are the key players/companies in the global epedigree software market?
Epedigree software keeps an electronic record of changes in the ownership of a pharmaceutical product for drug authentication. It allows a single view of the product and order and aids in protecting consumers from contaminated medicine and counterfeit drugs. It provides a high level of accuracy, protects brand value, enhances operational efficiency, guarantees compliance, and lowers labor and inventory costs.
It is easy and fast to implement, improves the pharmaceutical supply chain security, and delivers the lowest total cost of pedigree management. At present, the expansion of e-commerce platforms in the pharmaceutical sector on account of rapid digitization, increasing internet connectivity, and the rising penetration of smart devices is driving the demand for epedigree software across the globe.
Epedigree Software Market Trends
The rising need for serializability to tackle counterfeiting represents one of the major factors increasing the demand for epedigree software around the world. Moreover, the rising adoption of epedigree software by various clinical research and outsourcing companies is favoring the market growth. In addition, stringent regulations imposed by regulatory authorities like federal agencies, governments, and pharmaceutical companies to reduce drug fabricating and product diversion are contributing to the market growth. Apart from this, there is an increase in demand for smartening and securing the overall pharma supply chain.This, coupled with the rising integrating of advanced technologies, including quick response (QR) codes, barcodes, cloud computing, advanced analytics, big data, and radio frequency identification (RFID), the internet of things (IoT) with pharma supply chain, is impelling the market growth. Key players are incorporating virtual assistants, augmented reality (AR), machine learning (ML), and virtual reality (VR) to support the appropriation of cutting-edge systems across the supply chain network and pharma productions. These technological solutions assist in the processing of a pharmaceutical drug from manufacturing and distribution until the drug reaches the consumer.
They also enable better stock management and lead to the reduction in costs incurred in terms of inventory maintenance, wastage of products, and storage of drugs. Furthermore, the incorporation of cloud-based solutions and blockchain technology for making the whole supply chain smarter and more efficient with end-to-end quality control solutions is influencing the market positively. Besides this, the growing necessity to maintain the integrity of the complex pharma supply chain is creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global epedigree software market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on component, deployment type, enterprise size, and application.Component Insights:
- Software
- Services
Deployment Type Insights:
- On-premises
- Cloud-based
Enterprise Size Insights:
- Small and Medium-sized Enterprises
- Large Enterprises
Application Insights:
- Hospital Pharmacies
- Retail Pharmacies
- Pharmaceutical Factory
- Online Pharmacies
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
According to the report, North America was the largest market for epedigree software. Some of the factors driving the North America epedigree software market included a considerable reliance on e-commerce platforms, a rising number of clinical researches, and stringent regulations imposed by governing authorities to reduce drug fabricating and product diversion.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global epedigree software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Antares Vision Spa, Axway, SAP SE, and TraceLink Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global epedigree software market?2. What is the expected growth rate of the global epedigree software market during 2024-2032?
3. What are the key factors driving the global epedigree software market?
4. What has been the impact of COVID-19 on the global epedigree software market?
5. What is the breakup of the global epedigree software market based on the deployment type?
6. What is the breakup of the global epedigree software market based on the enterprise size?
7. What is the breakup of the global epedigree software market based on the application?
8. What are the key regions in the global epedigree software market?
9. Who are the key players/companies in the global epedigree software market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Epedigree Software Market
6 Market Breakup by Component
7 Market Breakup by Deployment Type
8 Market Breakup by Enterprise Size
9 Market Breakup by Application
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Antares Vision Spa
- Axway
- SAP SE
- TraceLink Inc.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 5 Billion |
| Forecasted Market Value ( USD | $ 15.4 Billion |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
