Track & Trace Solutions Market 2020-2025 Global Analysis and Opportunity Assessment |TraceLink Inc., Mettler-Toledo International, Inc., Axway, OPTEL GROUP, Adents, Seidenader Maschinenbau GmbH, RFXCEL CORP, Vitronic Machine Vision, Ltd., PharmaSecure Inc

The global track & trace solutions market has been segmented into applications, product, technology and end user. Application wise, the market is broken down into serialization and aggregation. Serialization is expected to account for more than 75% market share in 2025. Serialization regulations have been in place in markets like Turkey and China for some time, and more recently markets such as India, the United States, and EMEA have added similar laws to require serialization and track and trace solutions over the next several years. To make matters more complex, global data standards are still evolving in some major markets.

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The global track and trace solutions market is highly regulated in developed regions; yet there are various factors hindering their growth in less developed regions. The biggest barrier to effectively employ track and trace technology is that many organizations think that their present infrastructures and systems used for enterprise resource planning or warehouse management can acclimatize to address the intricate requirements of track and trace solutions. Firms that try to foster track and trace with their outdated systems end up doing high degree of system customization, with lack of assurance that these customizations will fully align with the company's drug traceability needs.

The pharmaceutical industry has fought to safeguard the integrity of their products as they move along the different stops of the value chain from contract manufacturers to wholesalers to dispensers and lastly to the consumer. This is mainly important as the product moves through international borders, as more money is being lost to counterfeiting with each passing year. Product theft is also on the rise, Freight Watch International has released statistics suggesting that drugs account for approximately 15% of the estimated USD 8 billion to USD 12 billion of annual cargo theft, which amounts to well over USD 1 billion annually. Thwarting theft and forging have thus become a vital industry focus.

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Asia Pacific will emerge as the fastest growing market through the forecast period. In this region, rising incomes, increased urbanization, growing middle classes, and shifting consumer preferences are driving the track and trace solutions market. Middle East & Africa is also projected to show promising growth by 2025. The healthcare sector in this region plays a key role in the economy, as there are various types of pharmaceutical products manufactured here and exported to various parts of the world. Moreover, as the regulatory landscape continues to advance and new regulations are being passed all the time, it is expected to directly impact the pharmaceutical supply chain, which will require stakeholders to implement more accurate and advanced traceability systems to improve patient safety.

Major players operating in the global track & trace solutions market are TraceLink Inc., Mettler-Toledo International, Inc., Axway, OPTEL GROUP, Adents, Seidenader Maschinenbau GmbH, RFXCEL CORP, Vitronic Machine Vision, Ltd., PharmaSecure Inc. and Laetus GmbH among others.

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Key segments of the global track & trace solutions market

Application Overview, 2015-2025 (USD Million)

Serialization
Aggregation

Product Overview, 2015-2025 (USD Million)

Hardware
Software

Technology Overview, 2015-2025 (USD Million)

Barcode
RFID

End User Overview, 2015-2025 (USD Million)

Pharma & Biopharma Industries
Medical device Industries

Regional Overview, 2015-2025 (USD Million)

North America
US
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

What does the report include?
    o    The study on the global track & trace solutions market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
    o    Additionally, the market competition has been evaluated using the Porter's five forces analysis
   o    The study covers qualitative and quantitative analysis of the market segmented on the basis of applications, product, technology and end user. Moreover, the study provides similar information for the key geographies. 
    o    Actual market sizes and forecasts have been provided for all the considered segments
    o    The study includes the profiles of key players in the market with a significant global and/or regional presence

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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