DUBLIN--(BUSINESS WIRE)--The "Track and Trace Solutions Market to 2027 - Global Analysis and Forecasts by Component; Application; End User and Geography" report has been added to ResearchAndMarkets.com's offering.
The global track and trace solutions market is expected to reach US$ 6,049 Mn in 2027 from US$ 1,728.3 in 2018. The market is estimated to grow with a CAGR of 15.3% from 2019-2027.
Stringent regulations & criteria for the implementation of serialization, an increase in the number of packaging-related product recalls, and rising focus of manufacturers on brand protection. However, the factors such as the high cost of products & implementation and shortage of skilled operators are likely to impact the growth of the market in the forecast period. On the other hand, continuous technological advancements are likely to have a positive impact on the growth of the global track and trace solutions market in the coming years.
Globally, pharmaceutical companies are considering existing and expected legislation on anti-counterfeiting and traceability of the drugs. In the US, the Drug Supply Chain Security Act (DSCSA) started in 2013, the DSCSA defines the requirements for an interoperable, electronic system to identify and trace pharmaceutical products throughout their distribution in the country. As part of the requirements, pharmaceutical products must be marked with a National Drug Code (NDC), serial number, lot number, and expiration date. The entire supply chain is expected to be electronically integrated and all nodes of traceability are to be established by November 2023. Thus, it is expected that the market for the track and trace solutions are likely to propel at a significant during the forecast years.
The track and trace solutions market by component is segmented into hardware and software. In 2018, the software segment held the largest market share of 57.2% of the track and trace solutions market, by component. The software segment is expected to dominate its market share in 2027 owing to the advantages offered such as reduced administration and increased confidence for quality events. Moreover, the software segment is anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.
Global track and trace solutions market, based on the application was segmented into serialization solutions and aggregation solutions. In 2018, the serialization solutions held the largest market share of 60% of the track and trace solutions market, by the application. The serialization solutions segment is expected to dominate its market share in 2027 owing to the tracking of product throughout the supply chain, and also provides regulatory compliance. Moreover, the serialization solutions segment is anticipated to witness the fastest growth rate of 15.6% during the forecast period, 2019 to 2027.
Some of the major primary and secondary sources for track and trace solutions included in the report are the World Health Organization (WHO), National Center for Biotechnology Information (NCBI), Directorate General of Foreign Trade (DGFT), Healthcare Information and Management Systems Society (HIMSS), Food & Drug Administration (FDA), International Standards Organisation (ISO), Electronics Product Code Global Incorporated (EPCglobal), Generic Pharmaceutical Association (GPhA), China Food and Drug Administration (CFDA) and others.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Track and Trace Solutions Market - By Component
1.3.2 Global Track and Trace Solutions Market - By Technology
1.3.3 Global Track and Trace Solutions Market - By Application
1.3.4 Global Track and Trace Solutions Market - By End-user
1.3.5 Global Track and Trace Solutions Market - By Geography
2. Global Track and Trace Solutions Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Track and Trace Solutions - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia-Pacific - PEST Analysis
4.2.4 Middle East & Africa - PEST Analysis
4.2.5 South & Central America - PEST Analysis
5. Global Track and Trace Solutions Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Stringent Regulations & Criteria for the Implementation of Serialization
5.1.2 Increase in the Number of Packaging-Related Product Recalls
5.1.3 Rising Focus of Manufacturers on Brand Protection
5.2 Key Market Restraints
5.2.1 High Cost of Products & Implementation
5.2.2 Shortage of Skilled Operators
5.3 Key Market Opportunities
5.3.1 Growth in Offshore Pharmaceutical Manufacturing
5.4 Future Trends
5.4.1 Continuous Technological Advancements
5.5 Impact Analysis of Drivers and Restraints
6. Track and Trace Solutions Market - Global Analysis
6.1 Global Track and Trace Solutions Market Revenue Forecasts and Analysis
6.2 Global Track and Trace Solutions Market, By Geography - Forecasts and Analysis
6.3 Performance/ Positioning of Key Players
6.3.1 Axway
6.3.2 Optel Group
6.4 Expert Opinions
7. Track and Trace Solutions Market Analysis and Forecasts to 2027 - Component
7.1 Overview
7.2 Global Track and Trace Solutions Market Share by Component 2018 & 2027 (%)
7.3 Software Market
7.4 Hardware Market
8. Track and Trace Solutions Market Analysis and Forecasts to 2027 - Technology
8.1 Overview
8.2 Global Track and Trace Solutions Market Share by Technology 2018 & 2027 (%)
8.3 Barcodes Market
8.4 RFID (Radio-Frequency Identification) Market
9. Track and Trace Solutions Market Analysis and Forecasts to 2027 - Application
9.1 Overview
9.2 Global Track and Trace Solutions Market Share by Application 2018 & 2027 (%)
9.3 Serialization Solutions Market
9.4 Aggregation Solutions Market
10. Track and Trace Solutions Market Analysis and Forecasts to 2027 - End-user
10.1 Overview
10.2 Global Track and Trace Solutions Market Share by End-user 2018 & 2027 (%)
10.3 Pharmaceutical Industry Market
10.4 Medical Devices Industry Market
10.5 Others Market
11. Track and Trace Solutions Market Revenue and Forecasts to 2027 - Geographical Analysis
11.1 North America Track and Trace Solutions Market
11.2 Europe Track and Trace Solutions Market
11.3 Asia-Pacific Track and Trace Solutions Market
11.4 Middle East & Africa Track and Trace Solutions Market
11.5 South & Central America Track and Trace Solutions Market
12. Track and Trace Solutions Market - Industry Landscape
12.1 Overview
12.2 Comparative Company Analysis
12.3 Growth Strategies Done by the Companies in the Market, (%)
12.4 Organic Developments
12.5 Inorganic Developments
13. Track and Trace Solutions Market - Key Company Profiles
13.1 Optel Group
13.2 Korber Medipak Systems AG
13.3 Zebra Technologies Corp.
13.4 Siemens AG
13.5 rfXcel Corporation
13.6 Tracelink
13.7 Sea Vision S.R.L.
13.8 Axway
13.9 Antares Vision S.P.A.
13.10 Adents
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