iVEDA TRACK & TRACE SOLUTION
iVeda track and trace software assists in countering fake pharmaceutical products from entering the market. Indian pharmaceutical industry is the third largest in the world in terms of volume, accounting for 10 percent of the world’s production. With exports to more than 200 countries, India is the world leader in the production of generic drugs and vaccines.
The bad news however is, according to the World Health Organization (WHO), 35 percent of fake drugs sold all over the world come from India.
The problem of fake and counterfeit drugs within the supply chain costs the pharma industry billions. More troubling is the fact that it puts patients at greater risk, particularly in developing nations where the WHO estimates that one in 10 medical products is substandard or fake. Globally, more than a million people die every year after consuming counterfeit medicines.
