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Track and Trace Solutions Market

Track and Trace Solutions Market Size, Share & Segment By Product type (Software, Hardware Components, Standalone Platforms), By Application (Serialization, Aggregation, Tracking, Tracing, & Reporting), By Technology type (2D Barcodes, Radiofrequency Identification (RFID), Linear Barcodes), By End User (Pharmaceutical & Biopharmaceutical Companies, Food Industry, Medical Device Companies, Cosmetic Industry), by Regions and Global Forecast 2022-2028

Report Id: SNS/HC/1902 | June 2022 | Region: Global | 125 Pages

Track and Trace Solutions Market Overview:

The Track and Trace Solutions Market Size was valued at USD 2.95 billion in 2021, and is expected to reach USD 10.04 billion by 2028, and grow at a CAGR of 19.1% over the forecast period 2022-2028.

Track and trace solutions deal with the use and distribution of a variety of products, making it easy to find something of interest to current and past locations. Radio frequency identification (RFID) and barcodes are used to track and track solutions to track delivery. Manufacturers of track and track solutions have developed hardware, software, and consulting systems to respond to increased productivity. Companies use a variety of solutions depending on the industries that are the end users. Radio-frequency identification (RFID) and barcodes are two main technologies used to track delivery. Production resources, product lines, case and bulk tracking, shipping, and shipping are all controlled using these software solutions. The companies that make the software spend money on research and development to improve their products. There are many providers, small and large, who offer a variety of tracking and tracking solutions, resulting in heated debate. Track and-trace solutions can help you find weak links in your supply chain, verify individual items and components, track conditions to help prevent product damage, diversion, or damage, and even control your carbon footprint.

Track and Trace Solutions Market

MARKET DYNAMICS

DRIVERS

  • For serialisation to be implemented, strict norms and standards must be followed.

  • The importance of brand protection is becoming more prominent among manufacturers.

  • The frequency of product recalls due to packaging is on the rise.

  • The generic and over-the-counter drug marketplaces are experiencing rapid expansion.

  • The medical device sector is growing at a rapid pace.

RESTRAINTS

  • Setup expenditures are enormous.

  • The performance of serialization and integration has a high cost and a long-time line of use.

OPPORTUNITIES

  • Innovations in technology

  • Products can be verified remotely.

  • The food tracing market is expanding.

  • Offshore drug production is becoming increasingly popular.

CHALLENGES

  • Serialization and aggregation have no uniform criteria.

  • Anti-counterfeiting technology exists.

IMPACT OF COVID-19

The impact of COVID-19 has highlighted the importance of tracking and stopping the health care business in order to effectively employ people, inventory, and assets. The global trade in counterfeit goods has become increasingly dangerous due to the explosion of COVID-19. According to the World Health Organization (WHO), COVID-19 counterfeit counterfeit medicines are proliferating in developing lands, accompanied by an increase in COVID-19 counterfeit counterfeit medicines.

By Product type

The track and trace solutions market is divided into software, hardware components, and private platforms. Increasing awareness of safe packaging, the growing number of counterfeit medicines and their associated products, and the growing awareness of product protection are all contributing to the growing market. In addition, compliance helps to increase market share.

During the proposed period, the field of private stadiums is expected to grow at a rapid pace. Strict government regulations on the use of serialization codes and UDI codes in the pharmaceutical and pharmaceutical industry, increasing pressure on pharmaceutical companies to acquire the series, and the growing demand for private platforms to reduce network usage all contribute to market growth.

By Application

Serialization solutions, integration solutions, and tracking, tracking, and reporting solutions enable the market for track and tracking solutions. The category of serialization solutions has dominated most of the applications market. The growth of this category is encouraged by the strict rules for the use of serialization solutions in applications and applications.

Due to the growing number of regulations for medical equipment and pharmaceutical products such as DSCSA, UDI, and Medical Device Reporting (MDR), the tracking, tracking, and reporting component is predicted to grow at a faster rate throughout the speculative period.

By Technology Type

Linear barcodes, 2D barcodes, and radiofrequency identification are the three main types of track and trace solutions (RFID). The rising use of 2D barcodes in the packaging industry accounts for a major proportion of the 2D barcodes technology segment. They can store more data and have fewer image size changes than linear barcodes.

Due to increased demand for RFID systems in automated pharmaceutical distribution and medical devices, as well as lower labour costs and enhanced visibility and planning, the RFID segment is predicted over the predicted period, to expand at the quickest pace

By End User

Pharmaceutical and biopharmaceutical companies, medical equipment companies, the cosmetics industry, and other end users are the four categories that make up the market. Due to the increasing number of counterfeit medicines, part of the pharmaceutical and biopharmaceutical firms dominated the global market for trace and trace solutions.

COMPETITIVE LANDSCAPE

Some of the major key players are as follows: Axway, ACG Worldwide, Optel Vision, Siemens AG, Antares Vision S.r.l, Mettler-Toledo International, Inc., TraceLink, Inc., Adents, Markem Imaje, Korber AG.

MARKET SEGMENTATION:

By Product type

  • Software

  • Hardware Components

  • Standalone Platforms

By Application

  • Serialization

  • Aggregation

  • Tracking, Tracing, & Reporting

By Technology type

  • 2D Barcodes

  • Radiofrequency Identification (RFID)

  • Linear Barcodes

By End User

  • Pharmaceutical & Biopharmaceutical Companies

  • Food Industry

  • Medical Device Companies

  • Cosmetic Industry

Track and Trace Solutions Market

REGIONAL ANALYSIS

Due to the availability of highly controlled serialisation and aggregation requirements, as well as advanced healthcare infrastructure, North America accounted for the biggest revenue share. The FDA advises pharmaceutical companies and other healthcare businesses to use automatic identification technology such as barcoding and RFID. Furthermore, the market is likely to be driven by the United States' highly established healthcare infrastructure and adoption of this technology.

In terms of revenue, Europe surpassed Asia as the second-largest regional market for track and trace systems, and this trend is projected to continue. The existence of established economies in the region, like Germany, Turkey, the United Kingdom, France, and Italy, is responsible for this. To combat medicine counterfeiting and theft, the European Union intends to gradually integrate track and trace technologies throughout the healthcare supply chain. Manufacturers who do not follow drug serialisation standards will be barred from marketing their products in Europe, as per the Falsified Medicines Directive.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Anatomic Pathology Track and Trace Solutions Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 580.3 Million
Market Size by 2028 US$ 1190.5 Million
CAGR CAGR of 10.8% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product (Software, Hardware (Printers and Labeling Systems, Barcode Scanners and RFID Readers, Mobile Computing Systems), Consumables (Barcode Labels and RFID Tags, Slides, Specimen Containers, Tissue Cassettes, and Blocks, Transport Bags)
• By Technology (Barcode, RFID)
• By Application (Slides Tracking, Tissue Cassettes & Blocks Tracking, Specimen Tracking)
• By End User (Hospital Laboratories, Independent and Reference Laboratories)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles

Axway, ACG Worldwide, Optel Vision, Siemens AG, Antares Vision S.r.l, Mettler-Toledo International, Inc., TraceLink, Inc., Adents, Markem Imaje, Korber AG.

DRIVERS • More Diagnostic Tests Are Being Run in Anatomic Pathology Laboratories
• A Growing number of Legal Cases Concerning Cancer Misdiagnosis
• Anatomic Pathology Laboratories Are Consolidating More and More
RESTRAINTS • Implementing Track and Trace Solutions in Anatomic Pathology Laboratories Comes at a High Cost


Frequently Asked Questions (FAQ) :

Track and Trace Solutions Market Size was valued at USD 2.95 billion in 2021.

Ax way, ACG Worldwide, Optel Vision, Siemens AG, Antares Vision S.r.l, and Mettler-Toledo International, Inc. Are the key players of the Track and Trace Solutions Market.

Due to the availability of highly controlled serialisation and aggregation requirements, as well as advanced healthcare infrastructure, North America accounted for the biggest revenue share.

The generic and over-the-counter drug marketplaces are experiencing rapid expansion, and the medical device sector is growing at a rapid pace are all propelling the Track and Trace Solutions market forward.

Setup expenditures are enormous is the main restraints of the Pancreatic and Biliary Stents market


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Track and Trace Solutions Market Segmentation, By Product type

8.1 Software

8.2 Hardware Components

8.3 Standalone Platforms

 

9. Track and Trace Solutions Market Segmentation, By Application

9.1 Serialization

9.2 Aggregation

9.3 Tracking, Tracing, & Reporting

 

10. Track and Trace Solutions Market Segmentation, By Technology type

10.1 2D Barcodes

10.2 Radiofrequency Identification (RFID)

10.3 Linear Barcodes

 

11. Track and Trace Solutions Market Segmentation, By End User

11.1 Pharmaceutical & Biopharmaceutical Companies

11.2 Food Industry

11.3 Medical Device Companies

11.4 Cosmetic Industry

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profiles

13.1 Axway

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 ACG Worldwide

13.3 Optel Vision

13.4 Siemens AG

13.5 Antares Vision S.r.l

13.6 Mettler-Toledo International, Inc.

13.7 TraceLink, Inc.

13.8 Adents

13.9 Markem Imaje

13.10 Korber AG

 

14. Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share Analysis

14.3 Recent Developments

 

15. Conclusion

 

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Step 1: Secondary Research:

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Secondary Research

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