According to FMI, RFID technology in pharmaceutical demand is expected to grow at a high CAGR of 7.9% from 2022 to 2028. The market is expected to rise at the predicted growth rate, with a final estimated net worth of $1 to reach 2.2 billion by 2028.

One of the main reasons for the growing popularity of RFID technology in the pharmaceutical sector is the increasing strictness of the industry’s pharmaceutical labeling. In addition, RFID facilitates supply chain management, patient safety, and quality assurance applications.

This article will divulge the importance and benefits of RFID technology in the pharmaceutical industry and UROVO’s Healthcare Device Solutions.  

Common Ways That RFID Technology Helps Pharmaceutical Industry

• Improving management efficiency

During the inventory process, employees no longer need to pick up and flip through each product individually to read the barcode. If the item is not in the correct location, an RFID reader can scan various storage areas from a distance until it finds the desired tag.

• Ensuring accurate drug information

Because data is collected and uploaded electronically, RFID can avoid transcription errors, data duplication, and lost items when they are used to collect data on many different objects simultaneously. Also, RFID systems enable staff to view up-to-date data on the items’ status.

• Reinforcing Product Authenticity

Counterfeit and compromised medicines pose a significant risk to public health. With RFID tags, the unique code data digitally generated and programmed by the manufacturer is difficult to replicate and change. As a result, this provides a higher level of product security for the pharmaceutical supply chain.

• Ensure Products Safety

Real-time inventory management in the pharmaceutical industry is critical to ensuring product safety. RFID technology improves inventory accuracy for distributors and retailers and reduces the risk of shortages of essential medicines. Additionally, by paying close attention to the expiry date of products, this technology helps implement First Expiry First Out (FEFO) efficiently in warehouses.

• Realizing the visualization of the pharmaceutical supply chain

Tracking products can be a challenge - whether it's a product in transit or an item that needs to be returned. Fortunately, RFID systems enable visualization of the pharmaceutical supply chain and provide a fast and reliable method of tracking that eliminates the need to count each item. For example, your staff can use RFID technology to instantly see the number of items and their location in transit.

Why Choose UROVO  

UROVO TECHNOLOGY CO., LTD. is the world's leading industrial mobile application solutions provider. The company has more than 1,300 employees and more than ten subsidiaries, with businesses throughout more than 100 countries and regions.

UROVO is rooted in core technology, focusing on innovative applications in the industry and providing customers with digital solutions based on smart terminals.

Contact us if you are looking for a reliable RFID supplier.