Track and Trace Solutions Market to Hit US$ 14.89 Billion at a CAGR of 15.41% with Forecast to 2029

Track and Trace Solutions market report is structured with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skilful forecasters and well-informed researchers. In this market research report, industry trends are put together on macro level with which clients can figure out market landscape and possible future issues. Track and Trace Solutions market analysis report offers an analytical assessment of the prime challenges faced by the market currently and in the coming years, which gives idea to other market participants about the problems they may face while operating in this market over a longer period of time.

Market parameters covered in the top notch Track and Trace Solutions market document include but are not limited to latest trends, market segmentation, new market entry, industry forecasting, future directions, opportunity identification, strategic analysis and planning, target market analysis, insights and innovation. The report comprises of the market drivers and restraints which are derived from SWOT analysis and also provides all the CAGR projections for the historic year 2020, base year 2021, and forecast period of 2022-2029. An all-inclusive Track and Trace Solutions report takes into account all the opportunities, challenges, drivers, market structures, and competitive landscape for the clients.

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Key Market Players mentioned in this report:
• OPTEL GROUP (Canada)
• Mettler-Toledo (U.S)
• Systech International (U.S)
• TraceLink Inc. (U.S)
• Antares Vision S.p.A (Italy)
• SAP (Germany)
• Xyntek Incorporated (U.S)
• SEA Vision (Italy)
• Syntegon (Germany)
• Körber AG (Switzerland)

Key Market Analysis and Insights:

Track and trace solutions are used to offer precise device location both now and in the past. Due to strict laws and requirements for the use of serialisation and progress in the pharmaceutical and medical device industries, the worldwide track and trace solutions market is rising at a significant rate. Several types of solutions influenced the size of the track and trace solutions market. Due to growing popularity in the healthcare business, software has recently seen a surge in demand.

Data Bridge Market Research analyses that the track and trace solutions market which was USD 4.1 billion in 2021, would rocket up to USD 14.89 billion by 2029, and is expected to undergo a CAGR of 15.41% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Recent Development
• In October 2020, Serialized Product Intelligence is a new cloud service developed by TraceLink that uses serialisation data to give actionable intelligence and operational excellence.

• In February 2021, Adents International was purchased by Anatres Vision (Italy) (France). With this acquisition, the company has broadened its offering of software solutions and cloud services for end-to-end traceability. The development also contributed to the Group's international expansion, particularly in France.

Global Track and Trace Solutions Market Scope and Market Size

The global track and trace solutions market is segmented on the basis of product, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product
• Software
• Plant Manager
• Line Controller
• Enterprise and Network Manager
• Bundle Tracking
• Case Tracking
• Warehouse and Shipment Manager
• Hardware Components
• Printing and Marking
• Barcode Scanners
• Monitoring and Verification
• Labelers
• Checkweighers
• Standalone Platforms

Application
• Serialization
• Carton Serialization
• Bottle Serialization
• Medical Device Serialization
• Blister Serialization
• Vial and Ampoule Serialization
• Aggregation
• Case Aggregation
• Pallet Aggregation
• Bundle Aggregation
• Tracking, Tracing, and Reporting
End User
• Pharmaceutical and Biopharmaceutical Companies
• Food Industry
• Medical Device Companies
• Cosmetic Industry
• Other

Track and Trace Solutions Market, By Region:

Global Track and Trace Solutions market is analyzed and market size insights and trends are provided by country, product as referenced above.

The countries covered in the Track and Trace Solutions market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the Track and Trace Solutions market because of the rise in the cases of arrhythmic diseases, favorable reimbursement policies for patients, high demand for advanced treatment methods and developed healthcare infrastructure in the region. Asia-Pacific is estimated to grow in the forecast period due to the high prevalence of cardiovascular diseases, increase in adoption of advanced digital devices, large population and launch of new innovative products.

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Track and Trace Solutions Market Dynamics:-

Drivers:

• Stringent regulations and standards for the implementation of serialization
In order to improve supply chain efficiency in the healthcare business, many governments are working to adopt specific legislation requiring serialisation in track and trace systems. Track and trace solutions are necessary throughout the pharmaceutical supply chain in Europe. According to the European Federation of Pharmaceutical Industries and Associations, the pharmaceutical industry in Europe utilises a common coding scheme. The 2001/83/EC directive was updated in response to the rising problem of counterfeit drugs and the necessity to set drug serialisation requirements. The European Union released the Falsified Medicines Directive (FMD) Safety Features Delegated Regulation, which states that serialisation of certified drug goods will be a legal requirement for businesses in the EU beginning in early 2019.

• Rise of counterfeit goods
Regulatory compliance has been an ever-increasing requirement to maintain product authenticity around the world. The global proliferation of counterfeit goods has prompted a surge in the use of track and trace systems across a variety of industries. The majority of industrialised countries have already implemented these solutions to limit the danger of product recalls, illness outbreaks, brand tarnishing, and unlawful parallel supply chains that foster illegal logistics and crime. Growing government and regulatory actions are opening the way for a greater adoption of track and trace technologies. Serialization has long been the most used way to track and trace products worldwide.

• Rising adoption in the pharmaceutical industry
Increased usage in the pharmaceutical industry for product I.D. verification, packaging, and logistics management will drive the global market. Government rules throughout the world requiring pharmaceutical companies to serialise their pharmaceuticals and technology advancements in track and trace systems are projected to fuel the track and trace solutions market's growth over the forecast period.

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Table of Contents -
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Overview of Global Track and Trace Solutions Market
1.4 Currency and Pricing
1.5 Limitations
1.6 Markets Covered
2 Market Segmentation
2.1 Markets Covered
2.2 Geographical Scope
2.3 Years Considered For the Study
2.4 DBMR Tripod Data Validation Model
2.5 Primary Interviews with Key Opinion Leaders
2.6 Multivariate Modelling
2.7 Type Lifeline Curve
2.8 DBMR Market Position Grid
2.9 Vendor Share Analysis
2.1 Market End User Coverage Grid
2.11 Secondary Sources
2.12 Assumptions
3 Executive Summary
4 Premium Insight
5 Global Track and Trace Solutions Market: Regulations
6 Global Track and Trace Solutions Market: Pipeline Analysis
7 Market Overview

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