Press release
Track & Trace Solution Market Dynamic Growth Factors, COVID-19 impact on Industry Share and Outlook 2028
The Track & Trace Solution Market size is expected to grow from US$ 6,855.2 million in 2022 to US$ 16,553.8 million by 2028. The market is estimated to register a CAGR of 15.9% from 2023 to 2028.The growth of the global track & trace solutions market growth is majorly driven by stringent regulations and criteria for implementation of serialization and increasing number of packaging-related product recalls. However, high cost of products and implementation hamper the market growth.
The track & trace solution proves an effective tool to improve the supply chain's safety, from tracking the origin of the active pharmaceutical ingredient (API) to manufacturing, packaging, and transportation. Track & trace proves an efficient tool to protect consumers; regulators have responded to the counterfeit drug problem by enforcing higher standards of transparency and traceability throughout the supply chain process.
Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00000971?utm_source=OpenPr&utm_medium=10640
The List of Companies -
1. ACG
2. Axway Software SA
3. Antares Vision SPA
4. Markem-Imaje AG
5. Mettler-Toledo International Inc
6. Optel Group
7. SEA Vision Grp
8. Siemens AG
9. TraceLink Inc
10. Zebra Technologies Corp
Asia Pacific region registers fastest growing CAGR for track & trace solutions market share. Among Asia Pacific region, China holds considerable share for track & trace solutions market during 2023-2028. In many industries, track and trace solutions solve quality management problems related to manufacturing, product quality, and customer satisfaction. For example, China had mandates related to a complex set of product master data, company master data, and production/distribution and operational data that must be captured, organized, and reported. Per The Chinese Department of General Administration of Quality Supervision, electronic monitoring of medical product quality must be done through special provisions, particularly by strengthening food safety supervision and management by the State Council.
Access full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/track-and-trace-solutions-market
Moreover, China's regulatory compliance assists high-performance, scalable compliance management and reporting infrastructure through regulations imposed by the country's authorities. Such compliances provide flexible workflows, business rules, and data configuration capabilities for complex operational and supply chain requirements. Additionally, it generates master data and traceability transaction reports for a variety of cases.
Currently, China is estimated to be the largest consumer economy as measured in purchasing power parity (PPP) terms. Over the next decade, it may add more consumption than any other country, and is expected to generate more revenues for track and trace solution market. The per capita consumption of food items and consumer will also increase in future. China luxury industry is also increasing day by day as the country also leading in the manufacturing of luxury goods. By looking at all the above-mentioned factors the track and trace solution market will grow in future in China.
The track & trace solutions market growth reveals positive impact amid the pandemic. In 2021, COVID-19 vaccines were being shipped from manufacturing facilities to the point of inoculation comprising antivirus agents, antiseptic liquids, sterile water, and elements of the DNA that trigger the immune system to make antibodies. Therefore, the management and distribution of the COVID-19 vaccine, along with associated challenges, need to be addressed.
These challenges included maintaining particular temperature conditions, real-time location and status of vaccines, anti-counterfeiting measures, and a centralized command center to monitor the effectiveness and progress of the entire immunization program. Therefore, track and trace solutions played an important role in monitoring the COVID-19 vaccine supply chain. For example, the US government, drug makers, and delivery companies collaborated and developed a network of monitory devices and detection systems.
Each vaccine cartridge was equipped with a GPS beacon, a temperature monitor, and a barcode. In case if the vaccines get deviated from the target destination or if the vials turn too hot or cold, officials at the companies and government were immediately alerted about the problem.
Order a copy of this research report at @: https://www.premiummarketinsights.com/buy/TIP00000971?utm_source=OpenPr&utm_medium=10640
In the US, batch-level tracking has been mandatory since 2015, with package-level serialization obligatory since 2017. According to the Drug Supply Chain Security Act (DSCSA) report, the unit-level traceability of the supply chain is expected to be done in the US by 2023. Similarly, the Food and Drug Administration (FDA) mandates reveal that all medical devices sold in the US have to be labelled with a unique device identifier and production identifier (involving lot or serial number and expiration date), and information has to be stored in the Global UDI Database (GUDID). Also, medical devices intended to be reprocessed must have a permanent marking on devices, ensuring UDI compliance. Through such mandates, can improve the detection and monitor notification of fake products in the supply chain in the US.
Further, the US Government Accountability Office report states that there has been a nationwide shortage of prescription drugs. Therefore, the FDA established a Drug Shortage Program aiming to prevent, alleviate, and resolve such shortages.
Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Ankit Mathur
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com
About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Track & Trace Solution Market Dynamic Growth Factors, COVID-19 impact on Industry Share and Outlook 2028 here
News-ID: 3098138 • Views: …
More Releases from Premium Market Insights
The Future of HVAC: Trends and Innovations
The Europe HVAC System Market HVAC system market was valued at US$ 50,772.07 million in 2022 and is expected to reach US$ 1,25,024.86 million by 2030; it is estimated to grow at a CAGR of 11.9% from 2022 to 2030.
𝐆𝐫𝐚𝐛 𝐏𝐃𝐅 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞➜ https://www.businessmarketinsights.com/sample/BMIRE00026922?utm_source=OpenPR&utm_medium=10694
Rise in Demand for Energy-Efficient Solutions Fuel the Europe HVAC System Market
Greenhouse gases are the primary sources of global warming and climate change. These gases absorb…
Automated External Defibrillators Market New Business Opportunities and Investme …
The Automated External Defibrillators Market is estimated to reach US$ 2,207.94 million in 2030 from US$ 1,556.21 million by 2030; the market is projected to record a CAGR of 4.5% from 2022 to 2030.
Some of the key driving factors for the automated external defibrillators market growth are the increasing prevalence of cardiovascular diseases and rising training and awareness programs on automated external defibrillators. However, performance issues related to automated external…
Hydrolyzed Collagen Market Types and Applications, Industry Drivers, Future Dema …
The Hydrolyzed Collagen Market was valued at US$ 946.43 million in 2022 and is projected to reach US$ 1,322.60 million by 2028; it is expected to register a CAGR of 5.7% from 2022 to 2028.
Various end-use industries are adopting business expansion strategies and scaling production capacity to provide better customer satisfaction. For instance, in July 2020, Rousselot and Giusto Faravelli announced a distribution partnership in Italy, effective from October 2020.…
Aroma Ingredients Market Expectations & Growth, Trends Highlighted Until 2028
The Aroma Ingredients Market was valued at US$ 5376.90 million in 2021 and is projected to reach US$ 7692.62 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.
Aroma ingredients are basically isolates of naturally sourced ingredients or chemically produced and are used as ingredients to add aromas or fragrance to various cosmetic and personal care products.
Based on product type, the global aroma…
More Releases for Track
Analyse the difference between excavator track rollers and bulldozer track rolle …
Excavators and bulldozers are versatile machines widely used in construction, mining, and other heavy-duty industries. Among the critical components of excavator and bulldozers undercarriage, track rollers [https://www.china-yjf.com/track-rollerbottom-roller/] play a vital role in ensuring smooth operation, stability, and longevity of the machine.
Excavators and bulldozers, both being heavy earth-moving equipment, use track systems to provide traction and stability while operating. However, there are some differences in the design and function of track…
Magic Track track: what kids want as Holiday gift
In this holiday season you might be out of ideas of what to get for your kids for Christmas. You have a niece or a nephew who asked you for a gift for the holiday but you are short of ideas of gifts to get for them. Well, you are not alone and that is why I am writing about the magic track track.
The magic track track also known as…
Vital Fit Track Reviews: Is Vital Fit Track Legit? Read The Vital Fit Track Cons …
Vital Fit Track is a cutting-edge wearable device that seamlessly combines the functionality of a traditional wristwatch with advanced fitness and health tracking features. Designed to empower individuals in monitoring and improving their physical activity levels, tracking their health metrics, and enhancing their overall well-being, this smart device is revolutionizing the way we approach fitness and personal health.
With its sleek and stylish design, the Vital Fit Track Watch is not…
Vital Fit Track Reviews- Are Vital Fit Track Good? Read Vital Fit Track Watch Co …
The Vital Fit Track Watch is a cutting-edge smartwatch designed to elevate your fitness journey and enhance your daily life. Combining advanced fitness tracking capabilities, seamless smartphone integration, and a sleek, stylish design, this innovative device serves as your ultimate fitness companion.
In today's fast-paced world, staying connected and prioritizing health and fitness can be challenging. The Vital Fit Track Watch addresses these challenges by seamlessly blending fashion and functionality, allowing…
Agricultural Equipment Rubber Track Market - Zhejiang Yuan Chuang Rubber Track, …
As per the research conducted by KD Market insights, the report “Agricultural Equipment Rubber Track Market” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Agricultural Equipment Rubber Track Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.
Report start…
Track Shoes Market Report 2018: Segmentation by Type (Ordinary Track Shoes, Spik …
Global Track Shoes market research report provides company profile for Saucony, New Balance, Under Armour, Brooks, Mizuno, Nike, Adidas, Asics, Puma and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides…