The Track And Trace Solutions Market Report provides a complete analysis of the market. The Report focuses on manufacturers, suppliers, segmentation according to the application, major players, customers, opportunities, future roadmap, and furthermore. The competitive data type analysis includes capacity, market share, profit margin, market growth, consumer consumption, imports, exports, revenue, and etc. Marketing strategies, policies, industry chain that are changing the wave of the market are also catered in the report.
The global track and trace solutions market was valued at USD 1,717.13 million in 2018 and is expected to reach USD 3,509.06 million by 2024, with an anticipated CAGR of 12.65%, during the forecast period.
Top Companies in the Track And Trace Solutions Market: ACG, Adents, ANTARES VISION SpA, Axway, Mettler-Toledo International Inc., Rfxcel Corporation, Optel Group, SEIDENADER MASCHINENBAU GMBH (MEDIPAK SYSTEMS), Sea Vision SRL, TraceLink Inc., and others.
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Scope of the Report
Tracking and tracing is a process of determining the current and past locations (and other information) of a unique item or property.
Key Market Trends
Bar Code Technology is expected to hold the Major Revenue Share in the Technology-wise Segmentation
A barcode is a number represented in vertical lines of varying thicknesses, printed on a label to exclusively identify any item.
In the healthcare industry, the barcode system offers wide applications, from hospitals and diagnostic laboratories to medical devices or pharmaceutical manufacturing companies. A barcode helps in tracking patient data in medical facilities, precisely managing medical supplies inventory, tracking expiration dates and origin of drugs, and adding barcode labels to blood supplies, which helps to distinguish among different samples. This barcode technology is being adopted for many years and is still being used all time for tracking. Other major benefits of using barcodes are the improvement of stock visibility and cutting waste, reduction in disparities in cost and quality of care, better safety and compliance, and automation of the manual supply-chain tasks, which are the key driving factors fueling the market growth.
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North America dominates the Market and expected to do Same in the Forecast Period
North America currently dominates the market for track and trace solutions and is expected to continue its stronghold for a few more years. In the North America region, the United States holds the largest market share. This can be majorly attributed to the increasing number of counterfeit drugs; due to the increasing number of counterfeit medicines available in the market, the FDA had to issue product identifier requirements under the Drug Supply Chain Security Act (DSCSA) Compliance Policy in June 2017. The policy states that the drugs sold in the United States must have item-level serialization affixed and printed on unit-of-sale prescription drugs. The DSCSA will require a “standardized numerical identifier to uniquely identify packages or homogenous cases that are composed by the National Drug Code (NDC). The DSCSA will require a “standardized numerical identifier to uniquely identify packages or homogenous cases that are composed by the National Drug Code (NDC).
Regional Analysis For Track And Trace Solutions Market:
For comprehensive understanding of market dynamics, Track And Trace Solutions Market is analyzed across key geographies namely: North America, US, Europe, Australia, Mexico, UK, India and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Track And Trace Solutions Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Finally, Track And Trace Solutions Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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