Track and Trace Solutions Market to Drive Massive Growth during 2019-2027 Owing to Developing Stringent Regulations & Criteria for the Implementation of Serialization
The Asia Pacific track and trace solutions market is expected to grow at highest rate during the forecast period owing to developments in the healthcare systems and industries, rise in the product innovations in China, rise in programs and initiatives in countries. In addition, emergence of new local players with competitive product portfolio are expected to fuel the market growth in Asia Pacific region.
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Companies Profiles Include: OPTEL GROUP, Axway, Körber Medipak Systems AG, ZIH Corp., Siemens AG, TraceLink, Antares Vision, RFXCEL CORP., SEA VISION S.r.l., Adents and others.
What the report features:-
- Global analysis of Track and Trace Solutions market from 2017 – 2027 illustrating the progression of the market.
- Forecast and analysis of Track and Trace Solutions market by Dosage, Route of Administration and Application from 2017 – 2027
- Forecast and analysis of Track and Trace Solutions market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America
Stringent regulations & criteria for the implementation of serialization, increase in the number of packaging-related product recalls, and rising focus of manufacturers on brand protection. However, the factors such as high cost of products & implementation and shortage of skilled operators are likely to impact the growth of the market in the forecast period.
For instance, in May 2019, OPTEL GROUP entered into an agreement with Nelipak Healthcare Packaging, a full-service global provider of custom thermoformed packaging in the field of medical devices and pharmaceuticals. The strategy would be used to explore commercial opportunities to bring a new seal inspection technology to the medical device market. The developments performed by the companies are helping the market to grow in the coming years.
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Strategic acquisition and product launches were observed as the most adopted strategy in global track and trace solutions industry. Few of the recent product launch and acquisitions are listed below;
2019: SEA Vision Group completed the acquisition of Lixis, provider of pharmaceutical vision, control and serialization. The acquisition would help the former company to hold a stronger position in the LATAM market.
2018: OPTEL acquired GeoTraceability, a provider of technical solutions to increase the visibility of suppliers and products in intricate supply chains. This strategic move has helped OPTEL expand its traceability offering.
2017: rfxcel Corporation acquired Frequentz, Inc., a provider of life science and food traceability. The acquisition has enabled rfxcel to offer better serialization and traceability solutions.
The importance of brand protection is not new to the industry, customers' increasing access to information requires even greater focus by companies to protect their brands and work to maintain and build customer trust. This customer trust is a foundation upon which companies live. The damage to the image of brand often occurs through product related crime, with sub-standard or dangerous counterfeits and/or products that have been subject to tampering. Sometimes, these events have catastrophic results.
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Reasons to Buy the Report:
- Learn about the driving factors, affecting the market growth.
- Imbibe the advancements and progress in the market during the forecast period.
- Understand where the market opportunities lies.
- Compare and evaluate various options affecting the market.
- Pick up on the leading market players within the market.
- Envision the restrictions and restrains that are likely to hamper the market.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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