Global Track and Trace Solutions Market Size, Key Trends, Challenges and Standardization, Research, Key Players, Economic Impact and Forecast to 2026|Antares Vision; Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; K�rber AG; Siemens AG; Systec

Track and trace solutions market�is expected to rise to an estimated value of USD 6.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing awareness regarding the protection of unique medical products as well as the increasing commercialization of medical devices globally.

The Track and trace solutions market research report covers the existing market size of the healthcare IT industry alongside the growth rate throughout the years. The top to bottom data by a different segment of market showcase empowers administrators to screen future gainfulness and settle on fundamental choices for practical development. Businesses can achieve practical and enduring results which are driven by accurate and timely research. It provides an access and self-dissected study alongside diagrams and tables to help comprehend market patterns, drivers and market difficulties. By working with a number of steps of collecting and analysing market data, this finest Track and trace solutions market research report is framed with the expert team.

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Few of the major competitors currently working in the global track and trace solutions market are�Antares Vision; Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; K�rber AG; Siemens AG; Systech International; Robert Bosch Packaging Technology GmbH; Zebra Technologies Corp.; Uhlmann; RFXCEL CORP.; Weber Marking Systems GmbH; Marchesini Group S.p.A.; Global Healthcare Exchange, LLC; PharmaSecure Inc. and Zetes among others.

Market Drivers

Increasing prevalence of regulations for the implementation of unique identification methods for products from the authorities are factors driving the growth of the market
Increasing number of products being recalled by various manufacturers and healthcare companies requiring better inventory management; this factor is expected to drive the growth of the market
Increasing prevalence of generic and over-the-counter medicine products is also expected to drive the growth of the market
Rising prevalence of counterfeit medical products and pharmaceuticals flooding the market

Market Restraints

Large financial costs associated with the establishment and operations of these solutions is expected to restrict its complete adoption
Increasing consumption of resources to implement the components required for the functioning of this solution is expected to hinder the growth of the market

Key Developments in the Market:

In August 2017, TraceLink announced that they had acquired ROC IT Solutions, establishing TraceLink as the leader of data assessment and capturing provider for serialization of products for the pharmaceutical market. This will ensure that the users can exchange the product data from their inventories across the different supply chain network users.
In June 2017, TraceLink announced the launch of "Automated Validation Manager (AVM)". The web-based solution offering is designed to be integrated with TraeLink's "Life Sciences Cloud" consistently which will restrict the usage of having to do manual validation while this validation cycle will provide complete information with just logging in to the web portal

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Track and trace solutions is a specialized logistics service which provides better quality of tracking ensuring complete transparency in the logistics cycle for different supply chains. It combines tagging of the products of the supply chain with different identification methods which is integrated into a centralized server, registering it in the server. This ensures that the user of this solution can trace the product with each step till the original source of manufacturing.

The titled segments and sub-section of the market are illuminated below:

By Product

(Software; Hardware Components; Standalone Platforms);

Application

(Serialization; Aggregation; Tracking, Tracing & Reporting);

Technology

(RTLS; 2D Barcodes; Radiofrequency Identification (RFID); Linear Barcodes);

End-User

(Pharmaceutical & Biotechnology Companies; Medical Device Companies; Cosmetic Industry; Food & Beverages; Consumer Packaged Goods; Luxury Goods; Others);

Geography

(North America; Europe; Asia-Pacific; South America; Middle East and Africa)

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