The “Track and Trace Solutions Market“ Report provides comprehensive information on the top of market owners, their annual transactions, the stability of their actions and the strategies used to attract the activity. Track and Trace Solutions Market report also highlights some of the rules and regulations that have been established by the governing bodies of some countries that can stimulate and restrict commercial activities in certain parts of the world. The information includes the company profile, annual turnover, the types of products and services they provide, income generation, which provide direction to businesses to take important steps.
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Track and Trace Solutions Market study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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.
Key Developments in the Track and Trace Solutions Market
â¢ Jul 2018: 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.
â¢ Jul 2018: Applied DNA Sciences, Inc., in conjunction with TheraCann International (TheraCann) launched the cannabis industryâs first cannabis tagging system (CTS) using Applied DNAâs CertainTÂ® platform of tag, test and track. The device is designed to rapidly molecularly tag cannabis plants in commercial harvests of any scale. Once the molecular tag is applied, the plants and their derivative products can be forensically tracked through every stage of the supply chain all the way to the consumer.
Major Players: ACG WORLDWIDE, ADENTS INTERNATIONAL, ANTARES VISION SRL, AXWAY, METTLER-TOLEDO INTERNATIONAL, INC., OPTEL VISION, SEIDENADER MASCHINENBAU GMBH, SIEMENS AG, SYSTECH, INC. AND TRACEhttps://www.marketreportsworld.com/global-track-and-trace-solutions-market-segmented-by-product-technology-application-end-user-and-geography-growth-trends-and-forecast-2018-2023–12347462, INC. among others.
Reasons to Purchase the Report
â¢ Current and future Track and Trace Solutions market outlook in the developed and emerging markets
â¢ Analysis of various perspectives of the market with the help of Porterâs five forces analysis
â¢ The segment that is expected to dominate the market
â¢ Regions that are expected to witness the fastest growth during the forecast period
â¢ Identify the latest developments, market shares, and strategies employed by the major market players
â¢ 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the report
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Track and Trace Solutions Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Track and Trace Solutions Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Track and Trace Solutions market on the basis of product type, application, and region
- To forecast and analyze the size of the Track and Trace Solutions market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Track and Trace Solutions market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Track and Trace Solutions market
- To analyze opportunities in the Track and Trace Solutions market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Track and Trace Solutions market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Track and Trace Solutions Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Track and Trace Solutions trade
Marketing Channel Development Trend
Track and Trace Solutions Market Positioning
Distributors/Traders List enclosed in Positioning Track and Trace Solutions Market
Track and Trace Solutions Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leaders revenue forecasts till 2024. In conclusion, Track and Trace Solutions Market 2019 report presents the descriptive analysis of the Track and Trace Solutions Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Track and Trace Solutions Market competitors.
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