Epedigree Software Market

Market Overview:

The global epedigree software market size reached US$ 5.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.4 Billion by 2032, exhibiting a growth rate (CAGR) of 13.02% during 2024-2032. 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.

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:

IMARC Group 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. Our report has categorized the market based on component, deployment type, enterprise size, and application.

Component Insights:

• Software
• Services
   

The report has provided a detailed breakup and analysis of the epedigree software market based on the component. This includes software and services.

Deployment Type Insights:

• On-premises
• Cloud-based
   

A detailed breakup and analysis of the epedigree software market based on the deployment type has also been provided in the report. This includes on-premises and cloud-based. According to the report, on-premises accounted for the largest market share.

Enterprise Size Insights:

• Small and Medium-sized Enterprises
• Large Enterprises
   

A detailed breakup and analysis of the epedigree software market based on the enterprise size has also been provided in the report. This includes small and medium-sized, and large enterprises. According to the report, large enterprise accounted for the largest market share.

Application Insights:

• Hospital Pharmacies
• Retail Pharmacies
• Pharmaceutical Factory
• Online Pharmacies
• Others
   

A detailed breakup and analysis of the epedigree software market based on the application has also been provided in the report. This includes hospital pharmacies, retail pharmacies, pharmaceutical factory, online pharmacies, and others. According to the report, pharmaceutical factories accounted for the largest market share.

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
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the 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.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the epedigree software market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global epedigree software market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the epedigree software industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.