FDA Ruling to Give Boost to RFID Business

Filed in archive Tags and Readers on June 19, 2006

FDA will be asking pharmaceutical companies to use electronic tags for tracking products from factory to pharmacy. This could result in creation of business opportunities for technology firms ranging from chip makers to database software. It is expected that this decision could give a boost to the growth of this technology. In 2006 RFID is expected to grow by $751 million in 2006 and by 2010 it is expected to reach $3 billion.

It is expected that by December RFID, drug manufacturers would be using RFID for tracking the most expensive prescriptions through the supply chain. FDA seems to have wakened up now as the number of fake drug cases has shot up.