Track and Trace Solutions Market is Expected to Grow at a CAGR of 17.9% during the Forecast Period
Increasing focus of pharmaceutical and biopharmaceutical companies on ensuring brand protection is one of the major factors driving the growth.
(firmenpresse) - The global track and trace solutions market size is expected to reach USD 6.81 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 17.9% during the forecast period. Increasing focus of pharmaceutical and biopharmaceutical companies on ensuring brand protection is one of the major factors driving the growth. Pharmaceuticals and medical devices manufacturers encounter a major threat from counterfeit products and theft. Deployment of track and trace solution helps manufacturers enhance distribution channel efficiency and reduces the frequency of counterfeit products.
Increased incidence of counterfeit drugs in developing countries of Asia, Africa, and Latin America is a major factor contributing to the high adoption of track and trace solutions. It is expected that more than 40 countries and over 75% of worldwide medicine supply will be covered by track and trace regulations in near future. Automatic identification technologies including barcoding and RFID are recommended by the Food and Drug Administration (FDA) to pharmaceuticals and other healthcare companies. Incidence of drug counterfeiting and theft is very high in developing countries like China and India. This is expected to drive the demand from emerging countries like China, India, and Brazil.
Furthermore, rising adoption of track and trace solution by healthcare manufacturers is projected to fuel the market growth in the forthcoming years. Introduction of advanced technology, such as RFID, provides fast reading and delivers high levels of security. However, the deployment cost of serialization and aggregation solutions, as well as lack of common regulations and standards, is expected to hamper the growth.
Access Research Report of Track and Trace Solutions Market (at) www.grandviewresearch.com/industry-analysis/track-trace-solutions-market
Further Key Findings from the Study Suggest:
Software solutions was the largest revenue-generating segment in 2018, mainly due to the regulatory mandates for the execution of serialization and aggregation in healthcare sector
Serialization solution was the largest grossing segment in 2018, owing to increasing application of serialization in pharmaceuticals and medical devices packaging will be a vital factor contributing to the growth
RFID segment is expected to exhibit the fastest CAGR during the study period, attributed to the technological advantages, such as high durability and reusability, more data storage capacity, and no requirement of line of sight
North America is set to reign the global market in 2019. Rising implementation of regulatory standards and regulations along with high adoption of thse solutions are anticipated to contribute to the growth
Some key players serving track and trace solutions market include Axway; Mettler-Toledo International, Inc.; Optel Vision; Adents International; Antares Vision srl; TraceLink, Inc.; Siemens AG; ACG Worldwide; Seidenader Maschinenbau GmbH; and Systech, Inc.
Grand View Research has segmented the global track and trace solutions market report on the basis of product, technology, application, end use, and region:
Track and Trace Solutions Product Outlook (Revenue, USD Million, 2015 - 2026)
Hardware Systems
Printing & Marking Solutions
Monitoring & Verification Solutions
Labeling Solutions
Others
Software Solutions
Plant Manager Software
Line Controller Software
Bundle Tracking Software
Others
Track and Trace Solutions Technology Outlook (Revenue, USD Million, 2015 - 2026)
Barcodes
RFID
Track and Trace Solutions Application Outlook (Revenue, USD Million, 2015 - 2026)
Serialization Solutions
Bottle Serialization
Label Serialization
Carton Serialization
Data Matrix Serialization
Aggregation Solutions
Bundle Aggregation
Case Aggregation
Pallet Aggregation
Track and Trace Solutions End Use Outlook (Revenue, USD Million, 2015 - 2026)
Pharmaceutical Companies
Medical Device Companies
Healthcare Others
Food and Beverage
Consumer Packaged Goods
Luxury Goods
Track and Trace Solutions Regional Outlook (Revenue, USD Million, 2015 - 2026)
North America
US.
Canada
Europe
UK.
Germany
France
Italy
Spain
Switzerland
Belgium
Asia Pacific
China
India
Japan
Russia
Latin America
Brazil
Mexico
Argentina
Middle East and Africa
South Africa
Saudi Arabia
Egypt
Access Press Release of Track and Trace Solutions Market(at) www.grandviewresearch.com/press-release/global-track-trace-solutions-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 06.11.2019 - 10:03 Uhr
Sprache: Deutsch
News-ID 601723
Anzahl Zeichen: 5792
contact information:
Contact person: Sonali Kulkarni
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San Francisco
Phone: 14153490058
Kategorie:
Healthcare
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