Latest News- Epedigree Software Market: On-premises is expected to lead the Deployment segment during 2024-2028

The Epedigree Software Market is being driven by Rising requirements for serializability to tackle counterfeiting

The Epedigree Software Market is expected to grow at a CAGR of 18.69% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4023.9 million. The global ePedigree software market holds significant importance in addressing the issue of drug counterfeiting in the pharmaceutical industry. With the illicit drug market estimated to be worth billions, the lack of quality control in the pharmaceutical supply chain has led to an alarming increase in drug redirection, forging, and other related concerns. These challenges pose a threat to consumer confidence and the integrity of the pharmaceutical business as a whole. Consequently, ensuring the authenticity and traceability of pharmaceutical products through ePedigree software has become a crucial business imperative. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud
• End-user
  • Large enterprise
  • Small and medium enterprises
• Geography
  • North America
    • US
  • Europe
    • France
    • Germany
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising requirements for serializability to tackle counterfeiting
• Increase in rate of technology adoption and proliferation of technologies
• Ensuring compliance with governmental regulations

However, the market also witnesses some limitations, which are as follows:

• Huge time and cost requirements for infrastructural implementation
• Ineffective data management and security in face of data explosions
• Evolving compliance requirements act as a perpetual risk factor

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Market Scope in Epedigree Software Market Research Report

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Research Analysis Overview

In the dynamic and complex pharma supply chain industry, the implementation of advanced technologies such as cloud-based solutions, machine learning, and Internet of Things (IoT) has become essential for ensuring patient safety and combating counterfeiting. One such technology gaining significant traction is Epedigree software. This advanced solution leverages blockchain technology for serializability and ePedigree to ensure drug pedigree and authenticity. Epedigree software plays a crucial role in the pharmaceutical industry by providing a secure and transparent system for tracking and managing the supply chain of pharmaceutical products. It utilizes advanced analytics and smart devices to monitor and authenticate drugs, reducing the risk of contaminated medicine or counterfeit drugs entering the market. The market for Epedigree software is expected to grow significantly due to the increasing demand for drug serialization and the need for a more secure and efficient pharma supply chain. The use of barcodes and serial numbers in conjunction with cloud computing and machine learning algorithms enables real-time monitoring and analysis of the pharmaceutical product lifecycle, ensuring the highest level of patient safety and drug authenticity.

Market Research Overview

The Epedigree software market encompasses businesses specializing in the development and production of software solutions for the pharmaceutical and healthcare industries. This sector falls under the broader global IT software market, which calculates its size based on the combined revenue of companies providing various types of IT software, including cloud-based solutions. The Epedigree software market specifically focuses on enterprise and technical applications, excluding those in the interactive home entertainment and systems software sub-industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/