Track and Trace Solutions Market Analysis: Industry Trends, Growth Factors, and Future Projections by 2023-2030 | Syntegon Technology GmbH, JBT Corporation

Track and trace solutions are used to track pharmaceutical products throughout the supply chain, from manufacturing to distribution. These solutions help ensure safety and authenticity of pharmaceutical products.

Market Dynamics:

Track and trace solutions market is expected to witness significant growth owing to growing regulations for product authentication across various countries. Various regulations such as the Drug Supply Chain Security Act (DSCSA) in the US and similar regulations in the EU countries have mandated the implementation of track and trace solutions. This is expected to drive the demand for track and trace solutions over the forecast period. Additionally, growing concerns over counterfeit drugs and drug diversion is also expected to support the adoption of track and trace solutions. Pharmaceutical manufacturers are adopting track and trace solutions to ensure supply chain integrity and prevent counterfeiting of pharmaceutical products.

global filling machines market size is estimated to be valued at US$ 7.79 Billion in 2022 and is expected to exhibit a CAGR of 4.56% between 2023 and 2030

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Market Drivers:

Increased focus on supply chain security and brand protection of pharmaceutical products

The track and trace solutions market is being driven by the increased focus of pharmaceutical companies and regulators on supply chain security and brand protection of medicines. Counterfeit drugs pose a huge risk to patient safety and drug efficacy. It is estimated that counterfeit drugs make up for over 10% of the global pharmaceutical market. Track and trace solutions allow tracing of each package from manufacturer to patient and help verify authenticity. This boosts supply chain visibility and security. With track and trace systems, origin of drugs can be authenticated and fakes can be identified. This is important for brand owners to curb revenue losses from counterfeits and protect their brand reputation. It also ensures patients receive genuine medicines. Thus, both pharmaceutical companies and regulators are investing more in implementing robust track and trace systems.

Stringent regulations and serialization mandates by regulatory bodies

Most regions and countries have introduced track and trace regulations and serialization mandates that require implementation of unique identification and serialisation of drug packs. For example, the Falsified Medicines Directive (FMD) was introduced in the European Union in 2019 with the goal of establishing a single market for verified medicines. The Drug Supply Chain Security Act (DSCSA) in the US requires standardization and tracing of prescription drugs through the supply chain. Similar regulations have been implemented in markets like Brazil, China, India etc. Non-compliance can attract hefty penalties and market access restrictions. This is driving extensive adoption of track and trace solutions by pharmaceutical manufacturers, wholesalers, logistic providers and others involved in drug distribution to ensure regulatory compliance. The regulations are also expected to tighten over time with new mandates, further boosting investments in track and trace technologies.

Top Key Players:

KHS GmbH, Tetra Pak International SA (Tetra Laval Group), Syntegon Technology GmbH, JBT Corporation, GEA Group Aktiengesellschaft, Sidel Group (Tetra Laval Group), Krones AG, Ronchi Mario SPA, Coesia Group, and Barry-Wehmiller Companies Inc.

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Regional Analysis:
⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

Market Opportunity: Blockchain adoption for supply chain transparency

Blockchain technology is emerging as a promising opportunity for track and trace solutions in the pharmaceutical supply chain. Blockchain enables decentralized, distributed and transparent sharing and verification of product information across all supply chain stakeholders without intermediaries. This can significantly enhance transparency, traceability and trust. Drugs can be tracked right from manufacturing to the point of dispensation with immutable records on a distributed ledger. Blockchain also addresses current limitations of centralized databases vulnerable to single point of failure or control. Its integration with track and trace systems can deliver additional benefits like ensuring counterfeit resistance, combating drug diversion and improving recall management. Many industry players are actively exploring blockchain trials to build more robust and trustworthy digital supply networks, presenting lucrative opportunities for track and trace vendors.

Market Trend: Advancements in radio frequency identification (RFID) and other next-gen technologies

To address current limitations and facilitate regulatory compliance, track and trace solution providers are focusing on incorporating newer technologies and capabilities. Advancements in radio frequency identification (RFID) are making serialisation and traceability more efficient. For example, passive RFID can uniquely identify packs without needing a power source. Newer forms of RFID like chipless and multi-bit are enabling increased data storage. Other emerging technologies gaining ground include digital watermarking for direct drug coding, 2D barcodes, advanced analytics for suspicious activity monitoring. Solution vendors are also exploring artificial intelligence, machine learning and Internet of Things (IoT) integration to deliver real-time supply chain transparency. Adoption of such advanced technologies is expected to significantly enhance traceability accuracy and speed, driving increased market demand for improved track and trace platforms.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Filling Machines Market over the forecast period?
What are the key trends expected to influence the Filling Machines Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Filling Machines Market?
What long-term impact will strategic advancements have on the Filling Machines Market?
Who are the key players and stakeholders in the Filling Machines Market?
What are the different segments and sub-segments considered in the Filling Machines Market research study?

Strategic Points Covered in Table of Content of Global Filling Machines Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Filling Machines market.

Chapter 2: Exclusive Summary - Filling Machines Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Filling Machines Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Filling Machines market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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