Track and Trace Solutions Market is expected to reach 3,509.06 Million $ in 2024, with a CAGR of 12.65% | ACG, Adents, ANTARES VISION SpA, Axway, Mettler-Toledo International, Rfxcel, Optel

Global Track and Trace Solutions Market Report 2019 offers elaborated knowledge on the market parts like size, Key Regions, growth, trends, dominating firms, Major Manufactures. The Track and Trace Solutions report introduces market competition situation among the vendors, revenue, product & services, latest developments and business strategies.

Overview of the Global Track and Trace Solutions Market:

The Global Track and Trace Solutions Market was valued at USD 1,717.13 Million in 2018 and is expected to reach USD 3,509.06 Million by 2024, with an anticipated CAGR of 12.65%, during the forecast period.

The major factors propelling the growth of the market include growth in the medical devices and pharmaceutical industries, increase in implementation of serialization, a rise in the number of packaging-related product recalls, and an increasing number of counterfeit drugs.

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The major problems faced by large-scale pharmaceutical as well as biopharmaceutical companies are drug counterfeiting. In order to ensure that brands get a share of brand recognition, these companies are adopting the use of track and trace solutions in supply-chain monitoring. Counterfeiting happens in a variety of ways. It can range from mislabeling medication with the intent to replicate an authentic approved product to the far more dangerous practices of selling medication without the active ingredient or adding an insufficient or excessive amount of the active ingredient. Counterfeit medicines also sometimes contain extraneous or harmful chemicals.

In the healthcare industry, the barcode system offers wide applications, from hospitals and diagnostic laboratories to medical devices or pharmaceutical manufacturing companies. A barcode helps in tracking patient data in medical facilities, precisely managing medical supplies inventory, tracking expiration dates and origin of drugs, and adding barcode labels to blood supplies, which helps to distinguish among different samples. This barcode technology is being adopted for many years and is still being used all time for tracking.

Industry Analysis: The Global Track and Trace Solutions Market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising awareness about track and trace solutions and improving healthcare infrastructure, few other smaller players are expected to enter into the market.

Regionally, North America currently dominates the market for Track and Trace Solutions and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed to the increasing number of counterfeit drugs; due to the increasing number of counterfeit medicines available in the market, the FDA had to issue product identifier requirements under the Drug Supply Chain Security Act (DSCSA) Compliance Policy in June 2017.

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Major Key Players:

1 ACG

2 Adents

3 ANTARES VISION SpA

4 Axway

5 Mettler-Toledo International Inc.

6 Rfxcel Corporation

7 Optel Group and More……………….

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Table of Contents:

1 Introduction

2 Global Track and Trace Solutions Market Research Methodology

3 Executive Summary

4 Global Track and Trace Solutions Market Dynamics

5 Global Track and Trace Solutions Market Segmentation

6 Competitive Landscape

7 Global Track and Trace Solutions Market Opportunities and Future Trends

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