Track and Trace Solutions Market
Increase in adoption of track and trace solutions, government intervention, and stringent regulations and criteria for the implementation of serialization.
PORTLAND, OREGON, US, July 12, 2022 /EINPresswire.com/ -- The global Track and Trace Solutions Market was valued at $2,034.9 million in 2019, and is projected to reach $6,120.8 million by 2027, registering a CAGR of 14.6% from 2020 to 2027. Track and trace solution companies assist pharmaceutical and biotechnology companies, contract manufacturing organizations along with contract packaging organizations and their supply chain partners to adapt to market changes and comply with regulations on drug traceability with the integrated serialization solutions.
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The report offers comprehensive analysis of the driving and restraining factors, challenges, and lucrative opportunities. In addition, the report includes a SWOT analysis that aids in understanding the restraining and driving factors in the market. Furthermore, the report highlights market segmentation, and study of major market players. The global track and trace solutions market report covers study of the impact of the Covid-19 outbreak on the global track and trace solutions market
The report offers in-depth analysis of top investment pockets, market trends, and major market players which can help new market entrants develop lucrative strategies and make informed decisions. The report offers study of the major impacting factors and competitive intelligence based on top 10 investment pockets that influence the market growth. The key factors that drive the growth of the global track and trace solutions market include rise in adoption of advanced track and trace solutions, favorable government intervention, and stringent regulations and criteria for the implementation of serialization.
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Increase in adoption of advanced track and trace solutions, favorable government intervention, and stringent regulations and criteria for the implementation of serialization. Remedy companies are expecting legislation on anti-counterfeiting & traceability of the drugs globally. Several governments across the countries opt for the execution of serialization regulations. There is a rise in the regulatory compliance for serialization which is becoming a focus area for pharmaceutical manufacturers and supply chain partners. Efforts are aimed at addressing drug counterfeits, difficulty in tracking returns or recalls, and improving supply chain visibility. For instance, according to a data published by Makro Care (a clinical and regulatory services organization), more than 40 countries and above 75% of global pharmaceutical drugs supply was covered by one or other serialization track and trace regulations in 2018.
The worldwide track and trace solutions market is segmented into product type, technology, application, end user, and region. Based on product type, the market is bifurcated into hardware systems and software solutions. The hardware systems market is sub-segmented into printing & marking solutions, monitoring & verification solutions, labeling solutions, and others. The software solutions market is further classified into plant manager software, line controller software, bundle tracking software, and others. The hardware systems section is expected to rule the market during the forecast period. The printing and marking arrangements section encouraged the development of the market among hardware systems in 2019 as this framework aids the creation and store network to guarantee product quality and authenticity.
The aggregation solutions segment is sub-segmented into bundle aggregation, case aggregation, and pallet aggregation. The serialization solutions segment held the dominant revenue share in the track and trace solutions market as of 2019 due to the increasing focus of regulatory bodies on implementation of serialization.
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Key Market Players:
• METTLER TOLEDO International Inc.
• Axway Software SA
• TraceLink Inc.
• OPTEL GROUP
• Adents International
• Siemens AG
• Seidenader Vision GmbH
• Zebra Technologies Corporation
• Robert Bosch GmbH
• Uhlmann Group
Key Benefits of the Report:
• The study provides an in-depth analysis of the global track and trace solutions market size along with the current trends and future estimations to elucidate the imminent investment pockets
• It offers track and trace solutions market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market
• A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global track and trace solutions market growth
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We also Offers Regional and Country Reports:
North America Track and Trace Solutions Market
Japan Track and Trace Solutions Market
South Korea Track and Trace Solutions Market
Singapore Track and Trace Solutions Market
Australia Track and Trace Solutions Market
Europe Track and Trace Solutions Market
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