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Medical Track & Trace Devices Market by Top Players as Optel Vision, TraceLink, Inc., Adents International, Antares Vision srl, Siemens AG, and many others.

10-26-2018 10:56 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Markets and Insights

GMF

GMF

The report provides forecast and analysis of the medical track & trace devices market. It provides market overview of medical track & trace devices market in terms of revenue (in USD Mn). Furthermore, the report includes drivers, restraints, trends and opportunity of the medical track & trace devices market and their impact on each country during the forecast period.

Manufacturers in healthcare industry are required to track certain devices from their manufacture through the distribution chain when they receive an order from the Food and Drug Administration (FDA). The purpose of device tracking is to ensure that manufacturers of certain devices establish tracking systems that will enable them to promptly locate devices in commercial distribution. Tracking information may be used to facilitate notifications and recalls ordered by FDA in the case of serious risks to health presented by the devices.

Growth in this market is attributed to the increasing focus on consumer and patient safety, increasing number of packaging related product recalls, and government legislations for the implementation of serialization in track and trace systems to ensure supply chain efficiency across the globe. The implementation of track and trace solutions is associated with the high cost, which surely hinder the market growth during the forecast period. 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. 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 eliminated to a large extent propelling its increasing espousal among the drug manufacturers.

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The Medical Track & Trace Devices Market Analysis and Forecasts to 2025 can be segmented into component, technology, application, and end-user. On basis of the component, the market is segmented into hardware, and software. Hardware is further segmented as printing & marking solutions, monitoring & verification solutions, labelling solutions, and others. Software segment includes plant manager software, line controller software, bundle tracking software, and others. Software solutions held the largest share in 2017 due to rising popularity for continuous management of manufacturing facilities, product lines, case & bundle tracking, and warehousing & shipping in healthcare industry.

On the basis applications, the market is classified as serialization solutions, aggregation solutions, and others. Serialization segment includes label serialization, bottle serialization, carton serialization, and data matrix serialization. On the other hand, aggregation solutions comprise of bundle aggregation, case aggregation, and pallet aggregation. Aggregation devices can include printers & labellers; reject stations, cameras reader, standalone printers, and handheld readers. Aggregation solutions are required to optimize the production and supply chain practices for efficient management of product transfers in between supply chain.

Based on the end-user, the medical track & trace devices market is segmented into pharmaceutical, medical devices manufacturers, and others. The pharmaceutical segment includes both pharmaceutical and biopharmaceutical manufacturers. Pharmaceutical segment is estimated to lead the market in 2017, owing to rising rate of drug counterfeiting resulted in high adoption of track and trace by pharmaceutical industry.

The medical track & trace devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American market is further segmented into US and Canada. The Europe market is categorized into UK, Germany, and France. The market in Asia Pacific is segmented into Japan, China, and India. The Latin American market is categorized as Mexico and Brazil. The Middle East & Africa region is classified as South Africa, Saudi Arabia, and UAE. The medical track & trace devices market report includes market size and analysis for all the above-mentioned regions and countries for component, technology, application, and end-user.

The study also provides information for recent merger and acquisition deals happened in the market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry, financial analysis and various business strategies adopted by them. This report will help players in Medical Track & Trace Devices Market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.

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Both primary and secondary research has been performed during the study. Secondary sources include Factiva, World Bank, and Hoovers, company annual reports, investor presentations, and publications. The key players included in Medical Track & Trace Devices Market report are Axway, Mettler-Toledo International, Inc., Optel Vision, TraceLink, Inc., Adents International, Antares Vision srl, Siemens AG, and many others.

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