Increasingly stringent regulations governing the cold chain transportation of medicines for human use are tipped to become a major driver for the uptake of radio frequency identification (RFID) technology by pharmaceutical suppliers in the Asia-Pacific region.
According to a recent report by industry analyst Frost & Sullivan (F&S), the US and Europe currently divide the biggest slice of market share in the global market for cold chain RFID. Its researchers showed that US revenues in cold chain RFID solutions totalled US$166m in 2012, with Europe close behind at $157m and the Asia-Pacific region trailing at $38m. These figures are set to increase dramatically, according to the report, which predicts a growth rate of 29% between 2012 and 2017, with a total global market for cold chain RFID solutions worth $1.2bn by 2017.
This will come as no surprise to RFID observers. Cold chain management represents an ideal environment to leverage RFID’s specialist capabilities, with tangible benefits. The per-unit cost of an RFID tag is still determined by raw material costs and the tag must have an antenna to function.
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