Report Ocean has published a new report on the “Track and Trace Solutions Market” in diverse regions to produce a report with more than 250+pages. This market report is an excellent fusion of qualitative and quantitative data emphasizing major industry changes, business and competitor difficulties in gap analysis, and potential new possibilities in the Track and Trace Solutions Market.
The global track and trace solutions market was valued at $2,034.9 million in 2019, and is projected to reach $6,120.8 million by 2027, registering a CAGR of 14.6% from 2020 to 2027. The growth of the global track and trace solutions market is majorly driven by rise in adoption of advanced track and trace solutions, favorable government intervention, stringent regulations and criteria for the implementation of serialization, and growth in the number of packaging-related product recalls. On the contrary, high cost is required for implementing product identification setups (ground infrastructure). In developing countries such as China and India, government fails to provide ground infrastructure, such as satellite for real time tracking solutions for companies. This high cost setups is sometime not feasible for low cost products, which is anticipated to restrain the market growth during the forecast period. Track and trace solution companies assist pharmaceutical and biotechnology companies, medical device companies, contract manufacturing organizations along with contract packaging organizations and their supply chain partners to adapt to market changes and comply with regulations on drug traceability with the integrated serialization solutions.
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Depending on product type, the market is segmented into hardware systems and software solutions. The hardware systems market is further categorized into printing & marking solutions, monitoring & verification solutions, labeling solutions, and others. The software solutions market is further classified into plant manager software, line controller software, bundle tracking software, and others. The software solutions segment is expected to register the fastest CAGR during the forecast period due to its mounting adoption in biotechnology, pharmaceutical, and medical device companies to continuously manage manufacturing facilities, product lines, case, and bundle tracking, and warehousing and shipping.
On the basis of technology, the market is classified into barcode and radio-frequency identification (RFID). The RFID segment is anticipated to display considerable market outlook over the next few years owing to rise in application in the pharmaceutical & biotechnology companies and hospitals. These applications for inventory control, equipment tracking, personnel tracking, prevention of distribution of counterfeit drugs and medical devices, and out-of-bed (OOB) detection and fall detection.
On the basis of application, the market is categorized into serialization solutions and aggregation solutions. By end user, the global track and trace solutions market is classified into pharmaceutical & biotechnology companies, medical device companies, and others. On a regional level, the track and trace solutions market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North American market had witnessed supremacy in terms of revenue in 2019 attributed to the presence of highly regulated serialization and aggregation standards, advanced healthcare infrastructure as well as the domicile of key industry participants, including, Zebra Technologies Corporation, METTLER TOLEDO International Inc., TraceLink Inc., and OPTEL GROUP.
Competitive rivalry in the global track and trace solutions market was observed at high level as major players have focused on the adoption of growth strategies such as, product launches, mergers and acquisitions (M&As), product developments, and partnerships and collaborations to attain strong position in the competitive market. For instance, in July 2019, TraceLink Inc. collaborated with Excellis Health Solutions in order to provide local implementation services for TraceLink’s Russia compliance solution. This initiative will enable the company to increase its share in the regional market.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the global track and trace solutions market size along with the current trends and future estimations to elucidate the imminent investment pockets
– It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market
– A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities
– The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global track and trace solutions market growth
List of key players profiled in the report
– METTLER TOLEDO International Inc.
– Axway Software SA
– TraceLink Inc.
– OPTEL GROUP
– Adents International
– Siemens AG
– Seidenader Vision GmbH
– Zebra Technologies Corporation
– Robert Bosch GmbH
– Uhlmann Group
– ANTARES VISION S.p.A.
– SEA VISION S.r.l.
– Korber AG
– ACG Worldwide
– rfxcel Corporation
KEY MARKET SEGMENTS
By Product Type
– Hardware Systems
o Printing and Marking Solutions
o Monitoring and Verification Solutions
o Labeling Solutions
o Others
– Software Solutions
o Plant Manager Software
o Line Controller Software
o Bundle Tracking Software
o Others
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By Technology
– Barcode
– RFID
By Application
– Serialization Solutions
o Bottle Serialization
o Label Serialization
o Carton Serialization
o Data Matrix Serialization
– Aggregation Solutions
o Bundle Aggregation
o Case Aggregation
o Pallet Aggregation
By End User
– Pharmaceutical & Biotechnology Companies
– Medical Device Companies
– Others
By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
– Asia-Pacific
o Japan
o China
o Australia
o India
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
Reasons to Buy this Report:
- Access to date records compiled by using our researchers. These supply you with historic and forecast data, which is analyzed to inform you why your market is set to change
- This allows you to assume market adjustments to stay in advance of your competitors
- You will be in a position to replica facts from the Excel spreadsheet straight into your advertising plans, enterprise presentations, or different strategic documents
- The concise analysis, clear graph, and desk structure will allow you to pinpoint the statistics you require quickly
- Provision of market cost (USD Billion) records for every section and sub-segment
- Indicates the place and phase that is predicted to witness the quickest increase as properly as to dominate the market
- Analysis via geography highlighting the consumption of the product/service in the location as properly as indicating the elements that are affecting the market inside every region
- Competitive panorama which accommodates the market rating of the most important players, alongside with new service/product launches, partnerships, enterprise expansions, and acquisitions in the previous 5 years of businesses profiled
- Extensive agency profiles comprising of employer overview, organization insights, product bench marking, and SWOT evaluation for the essential market players
- The cutting-edge as nicely as the future market outlook of the enterprise regarding latest traits which contain increase possibilities and drivers as nicely as challenges and restraints of each rising as nicely as developed regions
- Includes in-depth evaluation of the market from quite a number perspectives thru Porter’s 5 forces analysis
- Provides perception into the market via Value Chain
- Market dynamics scenario, alongside with boom possibilities of the market in the years to come
- 1-Year post-sales analyst support
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