Track and Trace Solutions Market: Global Industry Analysis and Forecast (2021-2027), Technology Trends.

Track and Trace Solutions Market size was valued at US$ 3.66 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 12.3% through 2021 to 2027, reaching nearly US$ 8.24 Bn.

Track and Trace Solutions Market Overview:

Track and trace (T&T) solutions help healthcare corporations and organisations manage their supply chains more effectively and reduce the dangers of counterfeit medications. It's the procedure for determining a drug's current and previous placements.The crucial growth driver for this market is associated benefits such as continuous transparency, packaging and logistics management, and product ID verification services, which facilitate hassle-free product movement within the distribution channel. Track and Trace Solutions Market To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

COVID-19 Influences on the Market:

COVID-19 is a recently identified novel coronavirus that causes an infectious sickness. COVID-19, which was mostly unknown until the outbreak in Wuhan, China, in December 2019, has gone from a regional issue to a global pandemic in just a few weeks. In order to contain the coronavirus (COVID-19) outbreak, most countries around the world have closed their borders and curtailed mobility since the beginning of 2020, causing international trade and transportation to be hampered. Due to uncertainties in the global economy and capital markets, this affected the supply chains for the track and trace sector, resulting in a temporary drop in demand.

Track and Trace Solutions Market Dynamics:

The increased deployment of track and trace solutions by pharmaceutical and medical device firms is expected to drive the market for track and trace solutions to rise. Pharmaceutical and biopharmaceutical firms are dealing with a big problem: drug counterfeiting. As a result, companies are using track and trace solutions to monitor their supply chains. The flood of substandard/counterfeit pharmaceuticals has been discovered to be more widespread in low to middle-income nations such as India and Africa. According to a report released by the United States Trade Representative (USTR) in 2019, approximately 20% of all medications sold in India were counterfeit. Besides, the market for track and trace solutions is expected to be driven by severe rules and standards related to serialisation implementation and aggregation. To prevent counterfeiting in Australia, the Therapeutic Goods Administration (TGA) issued new product coding requirements in July 2019. However, the significant costs associated with track and trace implementation, as well as the lack of uniform global standard laws for serialisation and aggregation, are expected to restrain the track and trace solutions market's growth during the forecast period 2021-2027. Anti-theft and authentication are examples of traditional brand protection technologies that are designed to protect individual items rather than the entire supply chain. Fake items have a high chance of being introduced at any point in the supply chain. A system with autonomous and non-line-of-sight capabilities is required to combat counterfeiting and identify large product items. In recent years, there has been a surge in demand for technologies with modular designs that meet the demands of businesses. For example, RFID-based track and trace devices maintain an electronic pedigree that records product transaction information along the supply chain. This method was shown to be very effective in protecting the supply chain from infiltration, theft, and fraud, as well as supporting remote authentication in the brand protection supply chain. During the forecast period 2021-2027, technologies that can scale from a single production line to a multi-facility/multi-line infrastructure while reducing initial expenditure are expected to gain traction.

Track and Trace Solutions Market Segment Analysis:

Based on the Product, the market is segmented into Software, Hardware Components, and Standalone Platforms. Software segment is expected to hold the largest market share of xx% by 2027. This is due to its increasing adoption in healthcare companies, such as pharmaceuticals, biopharmaceuticals, and medical device companies. Manufacturing facilities, product lines, case and bundle tracking, warehousing, and shipping are all managed with these software solutions. Companies that make this software are spending in R&D to improve product development, which is expected to help the industry thrive. Hardware Components segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. The market's highest revenue share belonged to the printing and marking solutions segment. This method is critical in ensuring product quality and authenticity throughout the manufacturing and supply chain. The market is growing due to rising demand for serialisation and the need to comply with regulatory requirements. Based on the Application, the market is segmented into Serialization, Aggregation, and Tracking, Tracing, and Reporting. Serialization segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This is due to the increased attention of regulatory bodies on the deployment of track and trace solutions. Product diversion and drug counterfeiting are being addressed by federal authorities, state governments, and the healthcare business. Serialization is a critical step in complying with the new ePedigree requirements, which mandate product traceability across the supply chain. Besides, manufacturers' heightened attention on patient safety and brand protection is expected to drive segment growth during the forecast period 2021-2027. Manufacturers are facing hurdles as serialisation regulations become more complicated and diverse, particularly in the pharmaceutical business. Manufacturers find it challenging to apply serialisation in track and trace due to differences in standards and laws across nations, as well as the administration of aggregated complicated data. The rising rate of counterfeit pharmaceuticals and other healthcare products, on the other hand, is driving serialisation adoption in the supply chain. Track and Trace Solutions Market 1

Track and Trace Solutions Market Regional Insights:

North America dominates the Track and Trace Solutions market during the forecast period 2021-2027. North America is expected to hold the largest market share of xx% by 2027. This is due to the existence of highly regulated serialisation and aggregation standards, as well as advanced healthcare infrastructure in the North America region. The FDA advises pharmaceutical and other healthcare industries to use automatic identification technology such as barcoding and RFID. Besides, the region's market is expected to be driven by the presence of a well-developed healthcare infrastructure and acceptance of this technology in the United States. Europe is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This is due to the existence of established economies in the Europe region, such as Germany, Turkey, the United Kingdom, France, and Italy. To combat medicine counterfeiting and theft, the European Union wants to gradually deploy track and trace technologies across the healthcare supply chain. Manufacturers who do not comply with medication serialisation standards will not be allowed to commercialize their products in Europe, according to the Falsified Medicines Directive. Track and Trace Solutions Market 1 The objective of the report is to present a comprehensive analysis of the Global Track and Trace Solutions Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Track and Trace Solutions Market dynamic, structure by analyzing the market segments and project the Global Track and Trace Solutions Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Track and Trace Solutions Market make the report investor’s guide.

Track and Trace Solutions Market Scope: Inquiry Before Buying

Global Track and Trace Solutions Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.66 Bn.
Forecast Period 2021 to 2027 CAGR: 12.3% Market Size in 2027: US $ 8.24 Bn.
Segments Covered: by Product • Software • Hardware Components • Standalone Platforms
by Application • Serialization • Aggregation • Tracking, Tracing, and Reporting
by Technology • RFID • 2D Barcodes • Linear Barcodes
by End-User • Pharmaceutical & Biopharmaceutical Companies • Food Industry • Medical Device Companies • Cosmetic Industry • Other End Users

Track and Trace Solutions Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Track and Trace Solutions Market Key Players

Zebra Technologies • Xyntek • Systech • Siemens • Körber Medipak Systems • Sea Vision • Adents • ACG Worldwide • Tracelink • Optel Group • METTLER TOLEDO • Axway • Antares Vision • Uhlmann • Jekson Vision • RFXCEL.CORP. • Laetus GmbH • Grant-Soft Ltd. • PharmaSecure Inc. • WIPOTEC-OCS GmbH • Domino Printing Sciences plc • Kevision Systems • SL Controls Ltd Frequently Asked Questions: 1] What segments are covered in Track and Trace Solutions Market report? Ans. The segments covered in Track and Trace Solutions Market report are based on Product, Application, Technology, and End-User. 2] Which region is expected to hold the highest share in the Track and Trace Solutions Market? Ans. North America is expected to hold the highest share in the Track and Trace Solutions Market. 3] Who are the top key players in the Track and Trace Solutions Market? Ans. Zebra Technologies, Xyntek, Systech, Siemens, Körber Medipak Systems, and Sea Vision are the top key players in the Global Track and Trace Solutions Market. 4] Which segment holds the largest market share in the Track and Trace Solutions market by 2027? Ans. Software segment hold the largest market share in the Track and Trace Solutions market by 2027. 5] What is the market size of the Track and Trace Solutions market by 2027? Ans. The market size of the Track and Trace Solutions market is US $8.24 Bn. by 2027. 6] What was the market size of the Track and Trace Solutions market in 2020? Ans. The market size of the Track and Trace Solutions market was worth US $3.66 Bn. in 2020.
1. Global Track and Trace Solutions Market: Research Methodology 2. Global Track and Trace Solutions Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Track and Trace Solutions Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Track and Trace Solutions Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Track and Trace Solutions Market Segmentation 4.1 Global Track and Trace Solutions Market, by Product (2020-2027) • Software • Hardware Components • Standalone Platforms 4.2 Global Track and Trace Solutions Market, by Application(2020-2027) • Serialization • Aggregation • Tracking, Tracing, and Reporting 4.3 Global Track and Trace Solutions Market, by Technology(2020-2027) • RFID • 2D Barcodes • Linear Barcodes 4.4 Global Track and Trace Solutions Market, by End User(2020-2027) • Pharmaceutical & Biopharmaceutical Companies • Food Industry • Medical Device Companies • Cosmetic Industry • Other End Users 5. North America Track and Trace Solutions Market (2020-2027) 5.1 Global Track and Trace Solutions Market, by Product(2020-2027) • Software • Hardware Components • Standalone Platforms 5.2 Global Track and Trace Solutions Market, by Application(2020-2027) • Serialization • Aggregation • Tracking, Tracing, and Reporting 5.3 Global Track and Trace Solutions Market, by Technology(2020-2027) • RFID • 2D Barcodes • Linear Barcodes 5.4 Global Track and Trace Solutions Market, by End User(2020-2027) • Pharmaceutical & Biopharmaceutical Companies • Food Industry • Medical Device Companies • Cosmetic Industry • Other End Users 5.5 North America Track and Trace Solutions Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Track and Trace Solutions Market (2020-2027) 6.1. Asia Pacific Track and Trace Solutions Market, by Product(2020-2027) 6.2. Asia Pacific Track and Trace Solutions Market, by Application(2020-2027) 6.3. Asia Pacific Track and Trace Solutions Market, by Technology(2020-2027) 6.4. Asia Pacific Track and Trace Solutions Market, by End User(2020-2027) 6.5. Asia Pacific Track and Trace Solutions Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Track and Trace Solutions Market (2020-2027) 7.1 Middle East and Africa Track and Trace Solutions Market, by Product(2020-2027) 7.2. Middle East and Africa Track and Trace Solutions Market, by Application(2020-2027) 7.3. Middle East and Africa Track and Trace Solutions Market, by Technology(2020-2027) 7.4. Middle East and Africa Track and Trace Solutions Market, by End User(2020-2027) 7.5. Middle East and Africa Track and Trace Solutions Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Track and Trace Solutions Market (2020-2027) 8.1. Latin America Track and Trace Solutions Market, by Product(2020-2027) 8.2. Latin America Track and Trace Solutions Market, by Application(2020-2027) 8.3. Latin America Track and Trace Solutions Market, by Technology (2020-2027) 8.4. Latin America Track and Trace Solutions Market, by End User(2020-2027) 8.5. Latin America Track and Trace Solutions Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Track and Trace Solutions Market (2020-2027) 9.1. European Track and Trace Solutions Market, by Product (2020-2027) 9.2. European Track and Trace Solutions Market, by Application (2020-2027) 9.3. European Track and Trace Solutions Market, by Technology (2020-2027) 9.4. European Track and Trace Solutions Market, by End User (2020-2027) 9.5. European Track and Trace Solutions Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Zebra Technologies 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Xyntek 10.3. Systech 10.4. Siemens 10.5. Körber Medipak Systems 10.6. Sea Vision 10.7. Adents 10.8. ACG Worldwide 10.9. Tracelink 10.10. Optel Group 10.11. METTLER TOLEDO 10.12. Axway 10.13. Antares Vision 10.14. Uhlmann 10.15. Jekson Vision 10.16. RFXCEL.CORP. 10.17. Laetus GmbH 10.18. Grant-Soft Ltd. 10.19. PharmaSecure Inc. 10.20. WIPOTEC-OCS GmbH 10.21. Domino Printing Sciences plc 10.22. Kevision Systems 10.23. SL Controls Ltd

About This Report

Report ID 3238
Category Information Technology & Telecommunication
Published Date Sept 2019
Updated Date Dec 2021
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