Track And Trace Solutions Market to Reach a Capital Expenditure of USD 2.98 Billion by 2028

Global track and trace solutions market was worth USD 2.98 billion in 2021. It is projected to grow at a compound annual rate (CAGR of 19.2%) between 2022 and 2030. Market growth can be attributed to increasing counterfeiting and theft rates worldwide for healthcare products. Manufacturers of medical devices, biopharmaceutical, cosmetic, and pharmaceutical products are adopting track-and-trace solutions to protect their brand equity and products. The healthcare industry will also benefit from favorable regulations regarding serialization.

Stringent regulations and standards for serialization are driving market growth. Manufacturers are focusing more on brand protection and increasing their focus on brand protection. There has been a significant increase in product recalls and high growth in generic and OTC markets. However, market growth will be limited by the high costs and lengthy implementation times associated with serialization and aggregated as well as the large setup costs.

Driving Factors

For serialization, strict regulations and standards must be followed

Many governments are working together to develop specific legislation that requires serialization in track and trace systems in order to improve the efficiency of supply chains in healthcare. The European pharmaceutical supply chain must have track and trace. The European Federation of Pharmaceutical Industries and Associations states that the European pharmaceutical industry uses a common coding system. In response to rising counterfeit drug problems, the 2001/83/EC directive was revised. It also required the establishment of strict serialization requirements. The Falsified Medicines Directive (FMD), Safety Features Delegated Regulation was published by the European Union. It states that businesses within the EU will have to start serializing certified drugs goods in 2019.

Complete the form to get your Sample Report : https://market.us/report/track-and-trace-solutions-market/request-sample/

Restraining Factors

Existence technologies to detect fraud transactions

For the medical and pharmaceutical device industries, counterfeit products have been a problem. According to the International Trademark Association (UK), counterfeiting was a 600 billion dollar market in 2017. It included products such as consumer goods like food, beverages, pharmaceuticals and electrical and digital gadgets. Counterfeiting and piracy could also drain USD 4.2 trillion out of the global economy by 2022. This would put at risk 5.4 million legitimate jobs. Many of the existing anti-counterfeiting technology can be duplicated. You can replicate many of the traditional technologies, such as barcodes, holograms, and container designs.

This global track-and-trace solutions market report includes information on recent developments, import/export analysis, production analysis and value chain optimization. The market analysis also examines opportunities in terms of emerging revenues pockets, changes to market regulations, strategic growth analysis, market size and category market growths. Application niches and dominance, product approvals. Geographic expansions. Technological innovations in the market. For more information on the global track trace solutions market, Industry Trends and Forecast to 2027 Market contact Data Bridge Market Research to receive an Analyst Brief. Our team will assist you in making an informed market decision and achieving market growth.

Market Key Trends

The report provides an in-depth analysis on the global track and trace market. It also includes future forecasts and trends to illuminate the investment potential.

It will provide track and trace solutions market analysis between 2020 and 2027. This is expected to allow stakeholders to capitalise on the prevailing market opportunities

A thorough analysis of the region helps understand the market and facilitate strategic business planning. It also helps identify the prevailing opportunities.

We analyze key players’ growth strategies and profiles to determine the global track’s competitive outlook and trace solution market growth.

Place An Inquiry to access the full : https://market.us/report/track-and-trace-solutions-market/#inquiry

Recent development

TraceLink’s Serialized Product Intelligence was launched in October 2020. This cloud application uses serialization data for actionable intelligence and operational excellence.

Anatres Vision (Italy), purchased Adents International (France) in February 2021. This acquisition allowed the company to expand its software solutions and cloud services that allow for end-to–end traceability by acquiring Adents International (France). This acquisition also strengthened the Group’s international presence in France, particularly in France.

OPTEL Group (Canada), partnered with Bureau Veritas Canada in October 2020. The partnership was to launch V-Trade which is a complete traceability solution for COVID-19 vaccinations.

Sea Vision S.r.l partnered with OBL Pharm Russia in February 2019. OBL pharma installed five track and trace production lines using SEA Vision software and equipment.

Key Companies

Axway Inc
Siemens AG
Optel Group
TraceLink Inc
SEA VISION S.r.l.
Antares Vision S.r.l.
Zebra Technologies Corporation
ACG Worldwide Private Limited
Adents High Tech International SAS

Segmentation

Solution Type:

Hardware Systems
Software Solutions

Technology:

2D Barcodes
Radiofrequency Identification (RFID)

Application:

Serialization Solutions
Aggregation Solutions
Tracking, Tracing, & Reporting Solutions

End-use Industry:

Pharmaceutical
Food

Frequently Asked Questions About This Report

  • What is the track-and-trace market growth?
  • Which market segment had the largest share of track and trace solutions?
  • What are the major players in the track-and-trace market?
  • What are the driving factors for the track and trace market?
  • Which product type is the leader in each product segment?
  • Which application segment is the most popular in Track and Trace Solutions?
  • Which technology segment is the most dominant in Track and Trace Solutions?
  • Which type of End User is the most popular in Track and Trace Solutions Market?
  • What are the major players in the Track and Trace Solutions industry?
  • Which region is the dominant in Track and Trace Solutions?

Explore our report:

IT Vendor Risk Management Market Size to Expand Significantly by the End of 2031

IoT Utilities market Entry, Expansion, and Business Strategies Forecasts By 2031

Inventory Management Software market Growing Technology Trends and Business Opportunities by 2031

Internet of Everything market 2022 Key Players and Production Information Analysis with Forecast To 2031

Interactive Voice Response Systems market 2022 Business Strategies, Production and Comprehensive Research Study till 2031

Interactive Voice Response System Market Business Growth, Development Factors and Growth Analysis to 2031

About Market.us

Market.US (Powered by Prudour Private Limited) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report providing firm.

Contact Details:

Global Business Development Team – Market.us

Address: 420 Lexington Avenue, Suite 300 New York City, NY 10170, United States

Phone: +1 718 618 4351 (International), Phone: +91 78878 22626 (Asia)

Email: [email protected]


Belva

Hi, I'm Belva ann I'm the digital marketing manager at prudour. I have more than 4 years of experience in this field. I work on various SEO strategies to promote market research reports. Also, I would like to do various on-page and off-page SEO activities for website ranking.

Leave a Reply

Your email address will not be published. Required fields are marked *