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Radio frequency identification (RFID) is a part of pharmaceutical and healthcare industry that has continued to find its growth in only niche medical applications. According to the team of expert analysts at ResearchMoz, this market sector is growing to reach a worldwide value of $1.7bn by 2018. The RFID is used in several health-sensitive medical applications for managing patient security such as blister packs, vaccine vials, syringes, identifying and authenticating tissue samples and liquids. 

 

Pharmaceutical companies use RFID technology to track medical products. The potential capabilities of using RFID technology as radio waves to transmit data for track-and-trace processes is far-reaching for the pharmaceutical industry and companies associated with health care. 

 

RFID works as a tag that is placed on each medicinal product for a subsequent tacking. It is being used as a tool to monitor the authenticity and administration of drugs available in the market. RFID tools track medical supplies and health check-up equipment, and provides a platform for patient safety and security through the use of tagged identification bracelets for patients.

 

However, as advantageous this technology appears to be, it surely has its own setbacks such as the cost of the tags, patient privacy concerns, owning the data, and so on. Over the recent years, the practice of counterfeiting has vastly increased in the U.S., thus planting considerable risks to the pharmaceutical and healthcare industry. 

 

RFID in the pharmaceutical industry can only be implemented if it is a combined effort from manufacturers to distributors on this matter. To learn more about the progress of this technology as well as its impediment, ResearchMoz.us invites you to read, understand, and purchase the RFID based market reports after thorough speculations. Besides, browsing through our comprehensive website, we also encourage you to speak to an expert Research Coordinator for more information.