Track and Trace Solutions Market size in 2019 is estimated to be $2.2 billion, growing at a CAGR of 17.3% during the forecast period 2020-2025. Tracking and tracing is a process of determining the current and past locations of a unique item or property. Track and Trace solutions such as RFID tags that have ability to track real-time data. Increasing number of fake drugs and technological advancement are the major factors driving the growth of the market. Moreover, increasing focus on biopharmaceutical companies on ensuring brand protection and stringent regulations and standards for the implementation of serialization further enhance the overall market demand for track and trace solutions during the forecast period 2020-2025.
The report: “Track and Trace Solutions Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Track and Trace Solutions Market:
By Product: Hardware Systems, Software Systems
By Technology: Barcode, RFID
By Application: Serialization Solutions, Aggregation Solutions
By End-Use Industries: Pharmaceutical Companies, Medical Device Companies, Others
By Geography: North America, Europe, APAC, and RoW
- In 2019, North America dominates the track and trace market owing to presence of highly regulated sterilization and aggregation standards as well as advanced healthcare infrastructure
- Increasing number of fake drugs and technological advancement is driving the market growth of track and trace solutions.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the track and trace solutions market report.
- High cost associated with the operations of these solutions are challenging the growth of the market.
Product - Segment Analysis
Based on the Product, Track and Trace Solutions Market is segmented into Hardware Systems, Software Systems. The Software segment is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 14.2% during the forecast period 2020-2025. This is mainly owing to growing adoption in healthcare companies including pharmaceuticals and medical device companies. Software solutions are used for continuous management of manufacturing facilities and case and bundle tracking. Moreover, software are investigating in R&D for better product development that are further contributing the growth of this segment.
Technology - Segment Analysis
Based on the Technology, Track and Trace Solutions Market is segmented into Barcode, RFID. In 2019, barcode held the largest share in the track and trace market. Increasing application of barcodes in pharmaceutical product packaging. Moreover, ample data storage capacity of barcodes as well as its higher popularity in the industry is also contributing to the growth of this segment.
Geography - Segment Analysis
North America dominated the track and trace market share accounting for 38% of the market in 2019. This is mainly owing to presence of highly regulated sterilization and aggregation standards as well as advanced healthcare infrastructure. According to U.S. Food and Drug Association, automatic identification technologies including barcoding and RFID are recommended in pharmaceuticals and others healthcare companies.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to the growth in healthcare infrastructure and rising incidence of counterfeit drugs.
Drivers – Track and Trace Solutions Market
- Increasing Number of Fake Drugs
Increasing number of fake drugs and rising deployment of track and trace solutions are some factors driving the growth of track and trace solutions market. Fake drugs is a major problem that are faced mostly by biopharmaceutical companies and according to United States Trade Representative, about 20% of sold drugs are fake. Moreover, increasing investment in R&D are also set to increase the market growth.
- Technological Advancements
Rising advanced technology provides fast reading and delivers high level of security are some factors driving the growth of the market. Moreover, increasing adoption of barcode systems owing to ease of operation and efficient inventory management in hospitals, diagnostics centers and many others further contributing the growth of track and trace solutions market.
Challenges – Track and Trace Solutions Market
High cost associated with the operations of these solutions are challenging the growth of the market. Moreover, unavailability of proper healthcare infrastructure and increasing detection problems are further restraining its market growth during the forecast period 2020-2025.
Track and Trace Solutions Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Track and Trace Solutions Market. Track and Trace Solutions top 10 companies are Axway, Mettler-Toledo International Inc., Optel Vision, TrackLink Inc., Adents International, Antares Vision srl, Siemens AG, Seidenader, ACG Worldwide and Systech Inc.
- On May 2019, Optel has collaboration with Nelipak Healthcare Packaging in order to improve the seal inspection technology and increase its speeding.
- On March 2019, Tracelink has collaboration with Streamdata in order to improve its portfolio in API Management and improve its tracking technology.
1. Track and Trace Solutions Market Overview
1.1 Definitions and Scope
2. Track and Trace Solutions Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Product
2.3 Key trends by Technology
2.4 Key trends by Application
2.5 Key trends by End-Use Industries
2.6 Key trends by Geography
3. Track and Trace Solutions Market Landscape
3.1 Market Share Analysis- Key Companies
3.2 Product Benchmarking- Key Companies
3.3 Financial Analysis - Key Companies
3.4 Patent Analysis - Key Companies
3.5 Pricing Analysis
4. Track and Trace Solutions Market - Startup companies Scenario Premium (Premium)
4.1 Key startup company Analysis by
4.1.3 Application Analysis
4.1.4 Venture Capital and Funding Scenario
5. Track and Trace Solutions Market- Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of successful ventures
6. Track and Trace Solutions Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Customers
6.3.3 Threat of New Entrants
6.3.4 Rivalry Among Existing Players
6.3.5 Threat of Substitutes
7. Track and Trace Solutions Market - Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Track and Trace Solutions Market – By Product (Market Size -$Million/$Billion)
8.1 Hardware Systems
8.1.1 Printing and Marking Solutions
8.1.2 Monitoring and Verification Solutions
8.1.3 Labeling Solutions
8.2 Software Systems
8.2.1 Plant Manager Software
8.2.2 Line Controller Software
8.2.3 Bundle Tracking Software
9. Track and Trace Solutions Market – By Technology (Market Size -$Million/$Billion)
10. Track and Trace Solutions Market – By Application (Market Size -$Million/$Billion)
10.1 Serialization Solutions
10.1.1 Bottle Serialization
10.1.2 Label Serialization
10.1.3 Carton Serialization
10.1.4 Data Matrix Serialization
10.2 Aggregation Solutions
10.2.1 Bundle Aggregation
10.2.2 Case Aggregation
10.2.3 Pallet Aggregation
11. Track and Trace Solutions Market – By End-Use Industries (Market Size -$Million/$Billion)
11.1 Pharmaceuticals Companies
11.2 Medical Device Companies
12. Track and Trace Solutions Market - By Geography (Market Size -$Million/$Billion)
12.1 North America
12.2.6 Rest of Europe
12.3.3 South Korea
12.3.5 Australia & New Zealand
12.3.6 Rest of Asia-Pacific
12.4 Rest of the World
12.4.1 Middle East
12.4.3 South America
13. Track and Trace Solutions Market– Entropy
14. Track and Trace Solutions Market Industry / Segment Competition landscape Premium (Premium)
14.1 Market Share Analysis
14.1.1 Market Share by Country- Key companies
14.1.2 Market Share by Region- Key companies
14.1.3 Market Share at Global Level- Key companies
14.1.4 Best Practices for Companies
15. Track and Trace Solutions Market- Key Company List by Country Premium (Premium)
16. Track and Trace Solutions Market Company Analysis
16.1 Company Revenue, Products, M&A, Developments
16.2 Company 1
16.3 Company 2
16.4 Company 3
16.5 Company 4
16.6 Company 5
16.7 Company 6
16.8 Company 7
16.9 Company 8
16.10 Company 9
16.11 Company 10 and more
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