Track and Trace Solutions Market Impact and Opportunities During Coronavirus Lockdown and Forecast | Systech International Inc., TraceLink Inc., Antares Vision, SAP, Xyntek Inc

Report Ocean releases its latest report on the global Track and Trace Solutions Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Track and Trace Solutions Market.

The global Track and Trace Solutions Market is forecast to grow at a compound annual growth rate (CAGR) of 19.5% during the forecast period from 2021-2027.

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Growth Drivers
The global market will be driven by increased adoption in the pharmaceutical industry for product I.D. verification, packaging, and logistics management. Stringent regulations by governments across the globe for the serialization of drugs by pharmaceutical companies and technological advancement in track and tracing systems are expected to further fuel the track and trace solutions market's growth during the forecast period.

The emergence of COVID-19 is expected to be a favorable factor for the growth of the global market. The pandemic has given rise to the circulation of counterfeit drug products. There is a huge surge in counterfeit drug products related to COVID-19, especially in low- and middle-income countries in the world.

According to WHO, 10% of medical products sold in developing and underdeveloped countries are counterfeit drugs that are substandard in nature. Even developed markets such as the U.S. are facing a similar problem.

In the U.S., over 3.2 million antiviral products, testing kits, and other COVID-19 related products were seized, in 2020, as they are either mislabeled or prohibited for sale in the country. Hence there will be an increased focus to adopt track and trace solutions for COVID-19 related products.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Track and Trace Solutions Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Track and Trace Solutions Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Track and Trace Solutions Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Track and Trace Solutions Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Track and Trace Solutions Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Track and Trace Solutions Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Track and Trace Solutions Market provides insight into the factors influencing its growth. This market study breaks down the Track and Trace Solutions Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Track and Trace Solutions Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Track and Trace Solutions Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Track and Trace Solutions Market are:

 OPTEL GROUP, Mettler-Toledo International Inc., Systech International Inc., TraceLink Inc., Antares Vision, SAP, Xyntek Inc., SEA Vision Srl, Syntegon, Körber Medipak Systems AG, Siemens AG, Uhlmann Group, JEKSON VISION, Videojet Technologies, Inc., Zebra Technologies Corporation, Axway Inc., ACG Worldwide, Laetus GmbH, and WIPOTEC-OCS.

Scope of the Report

The global Track and Trace Solutions Market segmentation focuses on:

By Product
Hardware
Printing & Marking
Monitoring & Verification
Labeling
Others

Software
Plant manager
Line controller
Bundle tracking
Others

By Technology
Barcodes
RFID

By Application
Serialization
Bottle
Label
Carton
Data matrix

Aggregation
Case
Bundle
Pallet

By End-Use
Pharmaceutical & biopharmaceutical Companies
Medical device companies
Healthcare
Food & Beverage
Consumer goods
Luxury goods

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This release was published on openPR.