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Pharma Track and Trace Solutions Market to Witness Robust Expansion by 2024– Top Key players like Optel Vision,Siemens,IBM,Inc.
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Track and trace solutions are not just economic measures for supply-chain efficiency. Experts estimate that 5% of all drugs sold worldwide are counterfeits – in some countries, figures even reach a shocking 50 %. Billions of products are “lost in the supply chain” every year. Counterfeit drugs and product diversion risk lives, undermine revenues, and threaten company reputations. The pharmaceutical industry needs to ensure supply-chain security and gain the ability to authenticate the ePedigree, or life history, of a product.
North America is the largest consumption place, with a consumption market share nearly 42.4% in 2017, primarily due to presence of highly regulated serialization & aggregation standards, as well as advanced healthcare infrastructure. Automatic identification technologies including barcoding and RFID are recommended to pharmaceuticals and other healthcare companies by the FDA. Furthermore, the presence of highly developed healthcare infrastructure and adoption of this technology in the U.S. is expected to drive the market growth. Following North America, EU is the second largest consumption place with the consumption market share of 37.4% in 2017.
According to this study, over the next five years the Pharma Track and Trace Solutions market will register a 19.0% CAGR in terms of revenue, the global market size will reach US$ 2380 million by 2024, from US$ 1000 million in 2019. In particular, this report presents the global revenue market share of key companies in Pharma Track and Trace Solutions business, shared in Chapter 3.
Market Segment by Manufacturers, this report covers
Optel Vision
Siemens
IBM
Axway
Mettler-Toledo
Systech
SAP
Seidenader Maschinenbau
Antares Vision
Sea Vision
TraceLink
Adents International
Xyntek
Holoflex
ACG Worldwide
Market Segment by Type, covers
Barcodes
RFID
Market Segment by Applications, can be divided into
Bio Pharma
Chemical Pharma
Specially Pharma
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Related Information:
North America Pharma Track and Trace Solutions Market Growth 2019-2024
United States Pharma Track and Trace Solutions Market Growth 2019-2024
Asia-Pacific Pharma Track and Trace Solutions Market Growth 2019-2024
Europe Pharma Track and Trace Solutions Market Growth 2019-2024
EMEA Pharma Track and Trace Solutions Market Growth 2019-2024
Global Pharma Track and Trace Solutions Market Growth 2019-2024
China Pharma Track and Trace Solutions Market Growth 2019-2024
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