Worldwide Track and Trace Solutions Market: 2019 to 2024 – Growth in the Number of Packaging-related Product Recalls Augments Demand – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global
Track and Trace Solutions Market – Segmented by Product, Technology,
Application, End-User, and Geography – Growth, Trends, and Forecast
(2019 – 2024)” report has been added to ResearchAndMarkets.com’s
offering.

The global track and trace solutions market is expected to register a
CAGR of 17.8% during the forecast period, 2018 to 2023.

Increasing Number of Counterfeit Drugs to Boost Market Growth

The track and trace solutions market has a good future with increasing
usage of these solutions by medical devices and pharmaceutical drugs
manufacturers. With rapid adoption of these solutions globally, it is
estimated that about 75% of the global medicine supply would be covered
by track and trace regulatory norms in near future.

One of the major problems faced by large scale pharmaceutical and
biopharmaceutical companies is drug counterfeiting. To ensure that
brands get a share of brand recognition, they are adopting the use of
these solutions in supply chain monitoring. These problems have been
growing globally, typically in developing countries such as China, South
Africa, and India.

Counterfeit drugs and theft are hazardous and result in financial harm
and unfair competition in both generic and branded drugs. With the
advent of track and trace solutions, this problem is expected to be
eradicated to a very large extent propelling its increasing adoption
among drug manufacturers.

Other factors driving the market growth are stringent regulations &
standards for the implementation of serialization, growth in the number
of packaging-related product recalls and growth in the medical devices
and pharmaceutical industries.

Lack of Common Standards for Serialization & Aggregation to
Restrain Market Growth

There is a lack of common standards for the process of tracking and
tracing. Pharmaceutical manufacturing companies have spent the last
decade or more investing millions to implement and fine-tune their
typically deep, complex, and validated supply chains.

Compliance with the new regulations now requires them to make large
investments in serialization technologies while also potentially making
significant business process changes – they will have to change
everything they do today to manage finished goods. This comes at a time
when pharmaceutical manufacturers are facing increasing pricing and
margin pressures.

The industry players have already implemented solutions and have
therefore no incentive to switch to new standards. The lack of common
standards is hence posing as a restraint to the market.

The other factors restraining the market are high costs associated with
serialization and aggregation.

North America is Expected to Dominate the Market

North America is expected to dominate the market in 2018, primarily due
to presence of highly regulated serialization & aggregation standards,
as well as advanced healthcare infrastructure.

Major Players

• ACG Worldwide
• Adents International
• Antares Vision S.R.L.
• Axway
• Mettler-Toledo International Inc.
• Optel Vision
• Seidenader Maschinenbau GmbH
• Siemens AG
• Systech Inc.
• TraceLink Inc.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

5.1 Current Market Scenario

5.2 Porter’s Five Forces Analysis

6. Drivers, Restraints, Opportunities and Challenges Analysis
(DROC)

6.1 Track and Trace Solutions Market Drivers

6.1.1 Stringent Regulations & Standards for the Implementation of
Serialization

6.1.2 Growth in the Number of Packaging-Related Product Recalls

6.1.3 Growth in the Medical Devices and Pharmaceutical Industries

6.1.4 Increasing Number of Counterfeit Drugs

6.2 Track and Trace Solutions Market Restraints

6.2.1 High Costs Associated with Serialization and Aggregation

6.2.2 Lack of Common Standards for Serialization and Aggregation

6.3 Track and Trace Solutions Market Opportunities

6.4 Track and Trace Solutions Market Key Challenges

7. Market Segmentation

7.1 Track and Trace Solutions Market By Product

7.1.1 Hardware Systems

7.1.1.1 Printing & marking solutions

7.1.1.2 Monitoring & verification solutions

7.1.1.3 Labeling solutions

7.1.1.4 Others

7.1.2 Software Solutions

7.1.2.1 Plant manager software

7.1.2.2 Line controller software

7.1.2.3 Bundle tracking software

7.1.2.4 Others

7.2 Track and Trace Solutions Market By Technology

7.2.1 Barcode

7.2.2 RFID

7.3 Track and Trace Solutions Market By Application

7.3.1 Serialization solutions

7.3.1.1 Bottle serialization

7.3.1.2 Label serialization

7.3.1.3 Carton serialization

7.3.1.4 Data matrix serialization

7.3.2 Aggregation Solutions

7.3.2.1 Bundle aggregation

7.3.2.2 Case aggregation

7.3.2.3 Pallet aggregation

7.4 Track and Trace Solutions Market By End-user

7.4.1 Pharmaceutical companies

7.4.2 Medical device companies

7.4.3 Others

7.5 Track and Trace Solutions Market By Geography

7.5.1 North America

7.5.2 Europe

7.5.3 Asia-Pacific

7.5.4 Middle East & Africa

7.5.5 South America

8. Track and Trace Solutions Market Competitive Landscape

8.1 Mergers & Acquisition Analysis

8.2 Agreements, Collaborations, and Partnerships

8.3 New Products Launches

9. Track and Trace Solutions Market Key Players

9.1 ACG Worldwide

9.2 Adents International

9.3 Antares Vision S.R.L.

9.4 Axway

9.5 Mettler-Toledo International Inc.

9.6 Optel Vision

9.7 Seidenader Maschinenbau GmbH

9.8 Siemens AG

9.9 Systech Inc.

9.10 TraceLink, Inc.

List Not Exhaustive

10. Future of the Track and Trace Solutions Market

For more information about this report visit https://www.researchandmarkets.com/research/pzsvw9/worldwide_track?w=4

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Related
Topics: RFID,
Pharmaceutical
Packaging