18.9% CAGR for Track and Trace Solutions Market to 2023

PUNE, India, June 26, 2018 /PRNewswire/ --

ReportsnReports.com adds the track and trace solutions market is expected to reach USD 3.93 billion by 2023 from USD 1.65 billion in 2018, at a CAGR of 18.9%.The growth of this market is mainly attributed to the stringent regulations and standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the medical devices and pharmaceutical industries, and rising number of packaging related product recalls.

Browse 84 Market Data Tables and 57 Figures spread through 144 Pages and In-depth TOC on "Track and Trace Solutions Market by Type (Plant Manager, Check weigher, Barcode Scanner, Monitoring), Technology (2d Barcode, RFID), Application (Serialization, Aggregations, Reporting), End User (Pharmaceutical, Medical Devices) - Global Forecast to 2023" at http://www.reportsnreports.com/reports/695837-track-and-trace-solutions-market-by-type-barcode-scanner-plant-manager-labeling-monitoring-verification-technology-1d-2d-barcode-rfid-application-serialization-aggregation-end-user-pharmaceutical-cosmetics-global-forecast-to-2021.html .

The prominent players in the track and trace solutions market are Optel Vision (Canada), METTLER-TOLEDO International (US), Systech (US), TraceLink (US), Antares Vision (Italy), Xyntek (US), Axway (US), Adents International (France), Sea Vision (Italy), Siemens (Germany), Zebra Technologies (US), ACG Worldwide (India), and Körber Medipak Systems (Switzerland).

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.

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.

Order Discounted Copy of "Track and Trace Solutions Market by Type (Plant Manager, Check weigher, Barcode Scanner, Monitoring), Technology (2d Barcode, RFID), Application (Serialization, Aggregations, Reporting), End User (Pharmaceutical, Medical Devices) - Global Forecast to 2023" Report at http://www.reportsnreports.com/contacts/discount.aspx?name=695837 .

The track and trace solutions market is segmented into bottle serialization, blister serialization, vials & ampoules serialization, carton serialization, and medical device serialization. Carton serialization segment is expected to register highest CAGR during forecast period owing to increasing awareness on supply chain efficiency in pharmaceutical and medical devices industry.

Size of the track and trace solutions market and estimate the size of various other dependent submarkets. Major players were identified through secondary research, and their market revenues were determined through primary and secondary research. Secondary research included the study of European Federation of Pharmaceutical Industries and Associations (EFPIA), Processing & Packaging Machinery Trade Association (PPMA), Asian Anti-Counterfeit Association (AAA), International Trademark Association (INTA), and the annual & financial reports of top market players, whereas primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives.

The track and trace solutions market is segmented into pharmaceutical & biopharmaceutical companies, medical device companies, cosmetic industry, and other end users (blood banks and clinical & research laboratories). In 2017, the pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the track and trace solutions market.

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Geographically, North America represented track and trace solutions market largest regional market in 2017, followed by Europe. Although, North America will continue to dominate the track and trace solutions market during the forecast period, the Asia Pacific (APAC) region is expected to be the fastest-growing market in the coming years.

Break of primary participants was as mentioned below: 

• By Company Size - Tier 1-40%, Tier 2-35% and Tier 3-25%
• By Designation Level - C-level-30%, Director Level-25%, Others-45%
• By Region - North America-32%, Europe-25%, Asia Pacific-20%, Latin America-15%, Middle East and Africa-8%

Another research titled the global healthcare supply chain management market is projected to reach USD 2.31 billion by 2022 from an estimated USD 1.55 billion in 2017, growing at a CAGR of 8.4% during the forecast period. Growth in the market can primarily be attributed to factors such as increasing pressure on healthcare providers to improve operational efficiency & profitability, implementation of unique device identification (UDI) by the US FDA, and the emergence of cloud-based solutions. Top players operating in the healthcare supply chain management market SAP (Germany), Oracle (US), Infor (US), GHX (US), McKesson (US), TECSYS (Canada), Manhattan Associates (US), JDA Software (US), Jump Technologies (US), and LogiTag Systems (Israel) now available with discount at http://www.reportsnreports.com/contacts/discount.aspx?name=370290 .

Explore More Reports on Healthcare Domain at http://www.reportsnreports.com/market-research/healthcare/ .

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