DUBLIN--(BUSINESS WIRE)--The "Track and Trace Solutions Market by Type (Plant Manager, Checkweigher, Barcode Scanner, Monitoring), Technology (2d Barcode, RFID), Application (Serialization, Aggregations), End User (Pharmaceutical, Medical Devices) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The track and trace solutions market is estimated to reach USD 3.93 Billion by 2023 from USD 1.65 Billion in 2018, at a CAGR of 18.9%.
Stringent regulations and standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the medical devices and pharmaceutical industries, and rising number of packaging related product recalls are the major factors driving the growth of the market. However, the high cost associated with serialization and aggregation may hinder the growth of this market. Furthermore, the lack of common standards for serialization and aggregation is a major challenge for the growth of the track and trace solutions market.
Based on technology, the market is segmented into linear/1D barcodes, 2D barcodes, and radiofrequency identification (RFID). The RFID segment will be the fastest-growing segment during the forecast period. The high growth of this segment can primarily be attributed to the growing demand for these systems in automated pharmaceutical distribution, point-of-care solutions, and electronic medical records. However, security and privacy concerns, a large amount of initial installation cost, and lack of skilled professionals may restrain the growth of this market to a certain extent.
- Stringent Regulations & Standards for the Implementation of Serialization
- Increasing Focus of Manufacturers on Brand Protection
- Growth in the Number of Packaging-Related Product Recalls
- Growth in the Medical Devices and Pharmaceutical Industries
- High Costs Associated With Serialization and Aggregation
- Growing Number of Manufacturing Facilities in Developing Regions
- Technological Advancements
- Lack of Common Standards for Serialization and Aggregation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Track and Trace Solutions Market, by Type
8 Track and Trace Solutions Market, by Technology
9 Track and Trace Solutions Market, by Application
10 Track and Trace Solutions Market, by End User
11 Track and Trace Solutions Market, by Region
12 Competitive Landscape
13 Company Profiles
- ACG Worldwide
- Antares Vision
- Krber Medipak Systems
- Mettler Toledo
- Optel Group
- Sea Vision
- Zebra Technologies
For more information about this report visit https://www.researchandmarkets.com/research/ntfmzs/global_track_and?w=4