The track and trace solutions market is expected to reach USD 3.93 Billion by 2023 from USD 1.43 Billion in 2017, at a CAGR of 18.9%.
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Growth in the market is mainly driven by factors such as growing number of regulatory mandates in the healthcare industry to ensure the use of track and trace solutions, increasing number of counterfeit medicines, and growing pharmaceutical and medical devices market across the globe.
2 Market Share Analysis
3 Track and Trace Hardware Systems Market
4 Track and Trace Software Solutions Market
5 Competitive Situation and Trends
6 Product Launches
7 Agreements, Partnerships, and Collaborations
Track and tarce solutions market is segmented into bottle serialization, blister serialization, vials & ampoules serialization, carton serialization, and medical device serialization.
The carton serialization segment is expected to register the highest CAGR during the forecast period owing to the increasing awareness on supply chain efficiency in the pharmaceutical and medical devices industry.
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Track and trace solutions market is segmented by type, technology, application, end user, & region. By application, market is majorly segmented into serialization, aggregation, & tracking, tracing, & reporting.
Serialization solutions segment accounted for largest share of track and trace solutions market in 2017. Stringent regulation for implementation of serialization solutions in packaging & supply chain applications is a key driver for market growth in this segment.
- Track and trace solution manufacturers, suppliers, and distributors
- Original equipment manufacturers (OEMs)
- Hardware system manufacturers
- Pharmaceutical and biotechnology companies
- Medical device companies
The report analyzes the various types of track and trace solutions in the market and their adoption patterns. It aims at estimating the market size and future growth potential of the track and trace solutions market for different segments such as type, technology, application, end user, and region.
The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, recent developments, SWOT analysis, and market strategies.
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Geographically, the track and trace solutions market is broadly segmented into five major geographies, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. In 2017, North America commanded a major share of the track and trace solutions market.
However, APAC is expected to witness the highest growth during the forecast period.
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