DUBLIN–(BUSINESS WIRE)–The “Global
Track and Trace Solutions Market – Segmented by Product, Technology,
Application, End-User, and Geography – Growth, Trends, and Forecast
(2018 – 2023)” report has been added to ResearchAndMarkets.com’s
The global track and trace solutions market is expected to register a
CAGR of 17.8% during the forecast period 2018 to 2023.
The track and trace solutions market has a good future with increasing
usage of these solutions by medical devices and pharmaceutical drugs
manufacturers. With rapid adoption of these solutions globally, it is
estimated that about 75% of the global medicine supply would be covered
by track and trace regulatory norms in near future.
One of the major problems faced by large scale pharmaceutical and
biopharmaceutical companies is drug counterfeiting. To ensure that
brands get a share of brand recognition, they are adopting the use of
these solutions in supply chain monitoring. These problems have been
growing globally, typically in developing countries such as China, South
Africa, and India.
Counterfeit drugs and theft are hazardous and result in financial harm
and unfair competition in both generic and branded drugs. With the
advent of track and trace solutions, this problem is expected to be
eradicated to a very large extent propelling its increasing adoption
among drug manufacturers.
Other factors driving the market growth are stringent regulations &
standards for the implementation of serialization, growth in the number
of packaging-related product recalls and growth in the medical devices
and pharmaceutical industries.
There is a lack of common standards for the process of tracking and
tracing. The other factors restraining the market are high costs
associated with serialization and aggregation.
North America is expected to dominate the market in 2018, primarily due
to presence of highly regulated serialization & aggregation standards,
as well as advanced healthcare infrastructure.
Major Market Developments
- Adents, leading serialization and track & trace solutions provider,
announces the issue of tokens that, combined with its NovaTrack
platform, will standardize access to full supply chain traceability.
- Applied DNA Sciences, Inc., in conjunction with TheraCann
International (TheraCann) launched the cannabis industry’s first
cannabis tagging system (CTS) using Applied DNA’s CertainT platform of
tag, test and track.
- ACG Worldwide
- Adents International
- Antares Vision SRL
- Mettler-Toledo International Inc.
- Optel Vision
- Seidenader Maschinenbau GmbH
- Siemens AG
- Systech Inc.
- TraceLink Inc.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
10. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/g9m2d8/global_track_and?w=4
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