“Latest Market Overview for Track and Trace Solutions Market Research Report
Global Track and Trace Solutions Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Track and Trace Solutions market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- ACG Worldwide
- Adents International
- Antares Vision SRL
- Mettler-Toledo International
- Optel Vision
- Seidenader Maschinenbau GmbH
- Siemens AG
- Inc. and TraceLink
- Inc. among others.
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Description of Track and Trace Solutions Market: The global track and trace solutions market is expected to register a CAGR of 17.8% during the forecast period, 2018 to 2023. Tracking and tracing, in distribution and logistics of many types of products, is a process of determining the current and past locations (and other information) of a unique item or property. It involves reporting of the position of vehicles and containers with the property of concern stored in a real-time database.
Increasing Number of Counterfeit Drugs to Boost Growth of the Track and Trace Solutions Market
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.
Lack of Common Standards for Serialization and Aggregation to Restrain Growth of the Track and Trace Solutions Market
There is a lack of common standards for the process of tracking and tracing. Pharmaceutical manufacturing companies have spent the last decade or more investing millions to implement and fine-tune their typically deep, complex, and validated supply chains. Compliance with the new regulations now requires them to make large investments in serialization technologies while also potentially making significant business process changes â they will have to change everything they do today to manage finished goods. This comes at a time when pharmaceutical manufacturers are facing increasing pricing and margin pressures. The industry players have already implemented solutions and have therefore no incentive to switch to new standards. The lack of common standards is hence posing as a restraint to the market.
The other factors restraining the market are high costs associated with serialization and aggregation.
North America is expected to dominate the Track and Trace Solutions Market
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.
Track and Trace Solutions Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Track and Trace Solutions Market players in detail. Track and Trace Solutions Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The Global demand for Track and Trace Solutions Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Track and Trace Solutions Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Further, in the Track and Trace Solutions Market research reports, the following points are included along with an in-depth study of each point:
- Production Analysis– Production of the Track and Trace Solutions is analyzed with respect to different regions, types, and applications. Here, price analysis of various Track and Trace Solutions Market key companies is also covered.
- Competitors– In this section, various Track and Trace Solutions industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
- Sales and Revenue Analysis– Both, sales and revenue are studied for the different regions of the Track and Trace Solutions Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
- Supply and Consumption– In continuation with sales, this section studies supply and consumption for the Track and Trace Solutions Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
- Other analyses– Apart from the above-mentioned information, trade and distribution analysis for the Track and Trace Solutions Market, contact information of major manufacturers, suppliers and key consumers are also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.
The growth of this market worldwide is subjected to various factors; including consumer world-class Track and Trace Solutions Market of many Track and Trace Solutions Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
Conclusively, this report will provide you a clear view of each and every fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.