Track And Trace Solutions Market Analysis Report By Product, By Technology, By Application, By End Use And Segment Forecasts From 2020 To 2027

Synopsis

According to the report published the global track and trace solutions market size was prized at USD 2.2 billion in 2019 and is estimated to witness 18.5% CAGR for the duration of the forecast.

Drivers

The rewards, linked with track and trace solutions, like verification services of product ID, incessant clearness, and logistics management, help in the comfortable movement of the product in the supply network. This is the most important driver of the market.

The increasing uses of the track and trace solutions by medicinal apparatuses and pharmaceutical companies are expected to power the track & trace solutions market. Imitation of drugs is the foremost problem, faced by biopharmaceuticals and pharmaceuticals manufacturing companies. Hence, the companies are implementing track and trace solutions for the monitoring of the supply chain network. It has been noticed that the entry of fake and or inferior medicines in middle or low-income nations like Africa and India is more common. As said by the 2019 report of the United States Trade Representative (USTR), roughly 20% of the entire medications in India were bogus.

Furthermore, strict policies and principles, applicable to the execution of serialization as well as aggregation, are estimated to impel the market. The Therapeutic Goods Administration (TGA) communicated fresh rules in July 2019, on the coding of the product so as to decrease imitation in Australia.

Restraints

On the other hand, the need for integrated worldwide standard rules and greater prices linked with track and trace completion for aggregation and serialization may possibly hamper the progress of the track and trace solution market.
There are a number of large as well as small companies, offering track and trace solutions, which causes strong competition. Mainly, the market in North America is provoked by the existence of extremely synchronized aggregation and serialization values, plus superior infrastructure of healthcare.

Owing to the growing pressure, to restrain the numbers of imitation drugs in emergent nations of Asia such as India and China, the Asia Pacific is projected to display the best development.

Companies

The companies are augmenting their concentration on planned joint ventures with their clients as well as they are working in partnership with new companies, functioning within the segment. There are several small and large producers, presenting multiple resolutions for tracking and tracing applications. The resultant of it is a strong contest between them.

Some of the companies for track and trace solutions market are: Systech, Inc., Seidenader Maschinenbau GmbH; Antares Vision SRL, Trace Link, Inc., Mettler-Toledo International, Inc., ACG Worldwide, Siemens AG; Adents International, Optel Vision, and Ax way.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. A million Insights has segmented the global track and trace solutions market report by product, technology, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Hardware Systems
        • Printing & Marking Solutions
        • Monitoring & Verification Solutions
        • Labeling Solutions
        • Others
    • Software Solutions
        • Plant Manager Software
        • Line Controller Software
        • Bundle Tracking Software
        • Others

• Technology Outlook (Revenue, USD Million, 2016 - 2027)
    • Barcode
    • RFID

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Serialization Solutions
        • Bottle Serialization
        • Label Serialization
        • Carton Serialization
        • Data Matrix Serialization
    • Aggregation Solutions
        • Bundle Aggregation
        • Case Aggregation
        • Pallet Aggregation

• End-Use Outlook (Revenue, USD Million, 2016 - 2027)
    • Pharmaceutical Companies
    • Medical device Companies
    • Healthcare Others
    • Food and Beverage
    • Consumer Packaged Goods
    • Luxury Goods

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Switzerland
        • Belgium
        • Russia
    • The Asia Pacific
        • Japan
        • China
        • India
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East and Africa
        • South Africa
        • Saudi Arabia
        • Egypt