Pharmaceuticals Serialization Market
The Pharmaceuticals Serialization Market is witnessing significant growth as regulatory bodies across the globe enforce stringent guidelines to ensure the safety, authenticity, and traceability of pharmaceutical products. Serialization involves assigning a unique identification code to each saleable unit of a drug, enabling manufacturers, distributors, and regulators to track and verify products throughout the supply chain. This practice plays a vital role in combating counterfeit drugs, safeguarding patient health, and maintaining trust in the pharmaceutical industry.
Market Drivers
One of the primary drivers of the pharmaceuticals serialization market is the increasing prevalence of counterfeit and substandard medicines, which pose severe health risks and economic losses worldwide. The World Health Organization estimates that a significant percentage of medicines in circulation in low- and middle-income countries are either falsified or of poor quality. To address this, governments have introduced strict serialization mandates, such as the U.S. Drug Supply Chain Security…