Track and Trace Solutions Market Innovations, Technology Growth and Research 2022-2027

VIENNA, Austria, Oct. 11, 2022, The research report titled "Global Track and Trace Solutions Market: Industry Share, Size, Regional Growth Analysis, COVID-19 impact Analysis and Forecast 2028" and published by "The Insight Partners" is an in-depth and dedicated scrutiny of the existing stats of the global Track and Trace Solutions market entailing the numerous facets pertinent to statistics and growth of the business. The report segregated into diverse sections to simplify the comprehension of the included data and thus, market dynamics. It encompasses all the major competitors and players OPTEL GROUP, Axway, Körber Medipak Systems AG, ZIH Corp, Siemens AG, TraceLink involved in the global Track and Trace Solutions market along with the various features relating to the market players like company profiles, supply chain value, product specifications, market shares, and so on. Also, the report entails the major strategic market developments, comprising R&D activities, collaborations, new product launch, agreements, joint ventures, partnerships, M&A, and presence & expansion extent of these prominent players on the global and regional scale. In addition, it comprises the systematic examination of business strategies for expansion of the prominent Track and Trace Solutions market players.

The Track and Trace Solutions in healthcare market was valued at US$ 1,728.3 million in 2018 and it is projected to reach US$ 6,049.0 million by 2027; it is expected to grow at a CAGR of 15.3% from 2018 to 2027.

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The List of Companies

OPTEL GROUP
Axway
Körber Medipak Systems AG
ZIH Corp.
Siemens AG
TraceLink
Antares Vision
RFXCEL CORP.
SEA VISION S.r.l.

The implementation of track and trace system to enhance visibility across supply chains global engagement among regulators, standards body, industry and other supply chain stake-holders to ensure safe trade across borders. Track and trace systems depends on serialization, the assigning of unique identification numbers to products. The growth of the Track and Trace Solutions in healthcare market is attributed to the stringent regulations & criteria for the implementation of serialization, increase in the number of packaging-related product recalls, and rising focus of manufacturers on brand protection. However, the factors such as high cost of products & implementation and shortage of skilled operators are likely to act as restraining factors for the track and trace solutions market.

The Track and Trace Solutions in healthcare market is expected to witness substantial growth post-pandemic. The Track and Trace Solutions in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Track and Trace Solutions Market is segmented on the basis of product, and type. All of these segments have been studied individually. The detailed investigation allows assessment of the factors influencing the Track and Trace Solutions Market. Analysts have analyzed the nature of development, investments in research and development, changing consumption patterns, and a growing number of applications. In addition, analysts have also evaluated the changing economics around the Track and Trace Solutions Market that are likely to affect its course.

The regional analysis section of the Track and Trace Solutions Market share report allows players to concentrate on high-growth regions and countries that could help them to expand their presence in the Track and Trace Solutions market. Apart from extending their footprint in the Track and Trace Solutions market, the regional analysis helps players to increase their sales while having a better understanding of customer behavior in specific regions and countries. The report provides CAGR, revenue, production, consumption, and other important statistics and figures related to the global as well as regional markets. It shows how different types, applications, and regional segments are progressing in the Track and Trace Solutions market in terms of growth.

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Track and Trace Solutions in Healthcare Market - by Component
Software
Plant Manager
Line Controller
o Enterprise & Network Manager

o Bundle Tracking

o Case Tracking

o Pallet Tracking

Hardware
o Printing & Marking

o Barcode Scanners

o Labeling

o Checkweigher

o RFID Readers
Track and Trace Solutions in Healthcare Market - by Technology
Barcodes
RFID (Radio-Frequency Identification)
Track and Trace Solutions in Healthcare Market - by Application
Serialization Solutions
Carton Serialization
Bottle Serialization
Medical Device Serialization
Blister Serialization
Vials & Ampoules Serialization
Aggregation Solutions
o Case Aggregation

o Pallet Aggregation

o Bundle Aggregation

o Tracking, Tracing, & Reporting Solutions

Track and Trace Solutions in Healthcare Market - by End User
Pharmaceutical Industry
Medical Devices Industry
Others

The scope of Track and Trace Solutions report:
1. Global market size, supply, demand, consumption, price, import, export, macroeconomic analysis as well as segment information, including:
Region Segment:
North America: US, Canada, Mexico
APAC: China, India, Japan, South Korea, Australia, New Zealand, Southeast Asia (Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam)
Europe: Germany, France, UK, Italy, Spain, Poland, Netherlands, Belgium, Czech, Russia
South America: Brazil, Argentina, Chile, Peru
MEA: South Africa, GCC, Egypt, Turkey
2. For industry chain analysis, raw material and end users information is available.
3. Global key and local players' information including SWOT analysis, company's financial figures, Track and Trace Solutions data of each company are covered.
4. Powerful market analysis tools used in the report include: Porter's five forces analysis, PEST analysis, drivers and restraints, opportunities and threatens.
5. Based year in this report is 2020; the historical data is from 2014 to 2019 and forecast year is from 2022 to 2028.
6. At last, research method and data source used in this report are shown.

Market Insights
Growing Applications of Track and Trace Solutions in Healthcare to Drive Track and Trace Solutions in Healthcare Market Growth
Globally, pharmaceutical companies are considering existing and expected legislation on anti-counterfeiting and traceability of the drugs. Many governments opt for the implementation of serialization regulations. Regulatory compliance for serialization is growing rapidly becoming a focus area for pharmaceutical manufacturers and supply chain partners across the world. Most developed and developing economies have either already laid out the regulatory road map for serialization or are in the process of doing so. The regulatory push to secure the pharmaceutical supply chain comes as a result of rising drug-related criminal activities and supply chain inefficiencies. Efforts are aimed at addressing drug counterfeits and unauthorized parallel supply chains, improving supply chain visibility, difficulty in tracking returns or recalls and the paucity of data-driven tools for predicting patient behavior. According to a data published by Makro Care, in 2018, more than 40 countries and above 75% of global medicine supply will be covered by one or the other serialization track and trace regulations.

In 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.

The European Union (EU) has followed suit with a compliance requirement by enacting the Falsified Medicines Directive (FMD). Unit-level serialization and dispenser authentication have been mandated. Moreover, in Turkey, the first step for implementing serialization is the in-line printing of the relevant code and information on each unit pack. The Turkish and French Pharma plants' early requirements revealed the risks and difficulties linked to in-line printing of a 2D code and it took three years to deal with them.

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Key questions answered in the report:
• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Track and Trace Solutions Market?
• How will the Track and Trace Solutions Market change in the upcoming six years?
• Which application and product will take a lion's share of the Track and Trace Solutions Market?
• What is the Track and Trace Solutions market drivers and restrictions?
• What will be the CAGR and size of the Track and Trace Solutions Market throughout the forecast period?

Detailed Table of Content:
• Introduction
o Research Scope
o Market Segmentation
o Research Methodology
o Definitions and Assumptions
• Executive Summary
• Market Dynamics
o Market Drivers
o Market Restraints
o Market Opportunities
• Key Insights
o Key Emerging Trends in Global Market
o Latest Technological Advancements
o Insights on Regulatory Scenario
o Porters Five Forces Analysis
o Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
• Qualitative Insights - COVID-19 Impact on Market
o Supply Chain Challenges
o Steps taken by Companies to overcome this impact
o Potential opportunities due to COVID-19 outbreak
• Global Track and Trace Solutions Market Analysis, Insights and Forecast, 2022-2027

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