Tetchnology Trends in Track and Trace Solutions Market - Barcode Scanner and RFID Solutions Drives the Growth

Growth in track and trace solutions market is mainly driven by factors such as growing number of regulatory mandates in the healthcare industry to ensure the use of track and trace solutions, increasing number of counterfeit medicines, and growing pharmaceutical and medical devices market across the globe.

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The track and trace solutions market is expected to reach USD 3.93 billion by 2023 from USD 1.65 billion in 2018, at a CAGR of 18.9%. The growth of this market is mainly attributed to the stringent regulations and standards for implementation of serialization, increasing focus of manufacturers on brand protection, growth in medical devices and pharmaceutical industries.

Premium Insights
1 Track and Trace Solutions Market Overview
2 Asia Pacific: Market, By End User and Country
3 Geographical Snapshot of the Market
4 Market: Regional Mix
5 Market, Developing vs Developed Countries

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Track and trace solutions market is segmented into linear barcodes, 2D barcodes, and Radio Frequency Identification (RFID). The 2D barcodes segment accounted for the major share of the track and trace solutions market for technology during the forecast period. The increasing preference for 2D barcodes in packaging over linear barcodes due to the advantages of 2D barcodes.

Track and Trace Solutions Market, By Application
1 Introduction
2 Serialization Solutions
3 Carton Serialization
4 Bottle Serialization
5 Blister Serialization
6 Vial and Ampoule Serialization
7 Medical Device Serialization
8 Aggregation Solutions
9 Case Aggregation
10 Pallet Aggregation
11 Bundle Aggregation
12 Tracking, Tracing, & Reporting Solutions

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Geographically, the track and trace solutions market is broadly segmented into five major geographies, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. In 2017, North America commanded a major share of the track and trace solutions market. However, APAC is expected to witness the highest growth during the forecast period.

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