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Track and Trace Solutions Market Size 2019 – Growing Demand Status of Top Manufacturers with Industry Share, Size, Projection, Consumption Forecast to 2024

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The “Track and Trace Solutions Market” report 2019 provides information for market players, stakeholders, investors, and business strategists to achieve a leading position the market. It maintains the record of Unusual growth strategies adopted by various companies are creating new standards for competition in the global Track and Trace Solutions market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of prevailing regulatory scenario on both regional and worldwide Track and Trace Solutions market is provided in detail in the report.

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Track and Trace Solutions Market Covers Key Players:

  • ACG
  • Adents
  • ANTARES VISION SpA
  • Axway
  • Mettler
  • Toledo International Inc.
  • Rfxcel Corporation
  • Optel Group
  • SEIDENADER MASCHINENBAU GMBH (MEDIPAK SYSTEMS)
  • Sea Vision SRL
  • TraceLink Inc.

    Market Overview:

  • The global track and trace solutions market was valued at USD 1,717.13 million in 2018 and is expected to reach USD 3,509.06 million by 2024, with an anticipated CAGR of 12.65%, during the forecast period. The major factors propelling the growth of the market include growth in the medical devices and pharmaceutical industries, increase in implementation of serialization, a rise in the number of packaging-related product recalls, and an increasing number of counterfeit drugs.
  • One of the major problems faced by large-scale pharmaceutical as well as biopharmaceutical companies is drug counterfeiting. In order to ensure that brands get a share of brand recognition, these companies are adopting the use of track and trace solutions in supply-chain monitoring. Counterfeiting happens in a variety of ways. It can range from mislabeling medication with the intent to replicate an authentic approved product to the far more dangerous practices of selling medication without the active ingredient or adding an insufficient or excessive amount of the active ingredient. Counterfeit medicines also sometimes contain extraneous or harmful chemicals. With the advent of track and trace solutions, this problem is expected to be eradicated to a very large extent. This factor, consequently, is propelling its increasing adoption among drug manufacturers, further driving the growth of the market over the forecast period. However, factors, such as high costs associated with serialization and aggregation and lack of common standards for serialization and aggregation may hinder the market growth.

    Report Highlights:

    • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
    • Market forecasts till 2024, using estimated market values as the base numbers
    • Key market trends across the business segments, Regions and Countries
    • Key developments and strategies observed in the market
    • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
    • In-depth company profiles of key players and upcoming prominent players
    • Growth prospects among the emerging nations through 2024
    • Track and Trace Solutions Market opportunities and recommendations for new investments

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    Scope of the Report:

  • Tracking and tracing is a process of determining the current and past locations (and other information) of a unique item or property.

    Key Market Trends:

    Bar Code Technology is expected to hold the Major Revenue Share in the Technology-wise Segmentation

    A barcode is a number represented in vertical lines of varying thicknesses, printed on a label to exclusively identify any item.

    In the healthcare industry, the barcode system offers wide applications, from hospitals and diagnostic laboratories to medical devices or pharmaceutical manufacturing companies. A barcode helps in tracking patient data in medical facilities, precisely managing medical supplies inventory, tracking expiration dates and origin of drugs, and adding barcode labels to blood supplies, which helps to distinguish among different samples. This barcode technology is being adopted for many years and is still being used all time for tracking. Other major benefits of using barcodes are the improvement of stock visibility and cutting waste, reduction in disparities in cost and quality of care, better safety and compliance, and automation of the manual supply-chain tasks, which are the key driving factors fueling the market growth.

    North America dominates the Market and expected to do Same in the Forecast Period

    North America currently dominates the market for track and trace solutions and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed to the increasing number of counterfeit drugs; due to the increasing number of counterfeit medicines available in the market, the FDA had to issue product identifier requirements under the Drug Supply Chain Security Act (DSCSA) Compliance Policy in June 2017. The policy states that the drugs sold in the United States must have item-level serialization affixed and printed on unit-of-sale prescription drugs. The DSCSA will require a standardized numerical identifier” to uniquely identify packages or homogenous cases that are composed by the National Drug Code (NDC). The DSCSA will require a standardized numerical identifier” to uniquely identify packages or homogenous cases that are composed by the National Drug Code (NDC).

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    Detailed TOC of Track and Trace Solutions Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Growth in the Medical Devices and Pharmaceutical Industries and Increase in Implementation of Serialization
    4.2.2 Rise in the Number of Packaging-related Product Recalls
    4.2.3 Increasing Number of Counterfeit Drugs
    4.3 Market Restraints
    4.3.1 High Costs Associated with Serialization and Aggregation
    4.3.2 Lack of Common Standards for Serialization and Aggregation
    4.4 Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product
    5.1.1 Hardware Systems
    5.1.1.1 Printing and Marking Solutions
    5.1.1.2 Monitoring and Verification Solutions
    5.1.1.3 Labeling Solutions
    5.1.1.4 Other Hardware Systems
    5.1.2 Software Solutions
    5.1.2.1 Plant Manager Software
    5.1.2.2 Line Controller Software
    5.1.2.3 Bundle Tracking Software
    5.1.2.4 Other Software Solutions
    5.2 By Technology
    5.2.1 Barcode
    5.2.2 RFID
    5.3 By Application
    5.3.1 Serialization Solutions
    5.3.1.1 Bottle Serialization
    5.3.1.2 Label Serialization
    5.3.1.3 Carton Serialization
    5.3.1.4 Data Matrix Serialization
    5.3.2 Aggregation Solutions
    5.3.2.1 Bundle Aggregation
    5.3.2.2 Case Aggregation
    5.3.2.3 Pallet Aggregation
    5.4 By End User
    5.4.1 Pharmaceutical Companies
    5.4.2 Medical Device Companies
    5.4.3 Other End Users
    5.5 Geography
    5.5.1 North America
    5.5.1.1 US
    5.5.1.2 Canada
    5.5.1.3 Mexico
    5.5.2 Europe
    5.5.2.1 Germany
    5.5.2.2 UK
    5.5.2.3 France
    5.5.2.4 Italy
    5.5.2.5 Spain
    5.5.2.6 Rest of Europe
    5.5.3 Asia-Pacific
    5.5.3.1 China
    5.5.3.2 Japan
    5.5.3.3 India
    5.5.3.4 Australia
    5.5.3.5 South Korea
    5.5.3.6 Rest of Asia-Pacific
    5.5.4 Middle East & Africa
    5.5.4.1 GCC
    5.5.4.2 South Africa
    5.5.4.3 Rest of Middle East & Africa
    5.5.5 South America
    5.5.5.1 Brazil
    5.5.5.2 Argentina
    5.5.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ACG
    6.1.2 Adents
    6.1.3 ANTARES VISION SpA
    6.1.4 Axway
    6.1.5 Mettler-Toledo International Inc.
    6.1.6 Rfxcel Corporation
    6.1.7 Optel Group
    6.1.8 SEIDENADER MASCHINENBAU GMBH (MEDIPAK SYSTEMS)
    6.1.9 Sea Vision SRL
    6.1.10 TraceLink Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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