New York, NY, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Track and Trace Solutions Market by Technology (RFID and Barcodes), by Product (Software Solutions and Hardware Systems), by Application (Aggregation Solutions and Serialization Solutions), and by End-User (Medical Devices Companies, Pharmaceutical and Biopharmaceutical Companies, Cosmetic Industry, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global track and trace solutions market was valued at approximately USD 1.4 billion in 2017 and is expected to generate around USD 4.6 billion by 2024, at a CAGR of around 18.72% between 2018 and 2024.
Pharmaceutical and medical device industry is experiencing rapid growth in both developed and developing nations. However, the industry is facing issues related to the supply chain process, such as shipping delays, counterfeiting, product recalls, and theft. Track and trace solutions, such as automatic identification technologies and software, are both effective and reliable in ensuring proficient delivery of components and materials to customers. Track and trace solution technologies help to improve security and drug traceability.
Browse through 99 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Track and Trace Solutions Market: By Type, Size, Share, Growth, Segments, Analysis and Forecast, 2017—2024”.
Request Free Sample Report of Global Track and Trace Solutions Market Report @ https://www.zionmarketresearch.com/sample/track-and-trace-solutions-market
Track and trace solutions play a vital role in the distribution and logistics of medical devices. Stringent regulatory requirements for the implementation of serialization are the major growth driver of the track and trace solutions market globally. Other factors that are likely to contribute notably toward the track and trace solutions market in the estimated timeframe are increasing emphasis on brand protection by manufacturers, rising product recalls concerned with packaging, and emerging pharmaceutical, biopharmaceutical, and medical device sectors. However, huge aggregation and serialization costs might restrain this market’s growth in the years ahead.
The track and trace solutions market is segmented based on technology, product, application, and end-user. By technology, this market is bifurcated into Radio-Frequency Identification (RFID) and barcodes. Barcodes are sub-segmented into 2D and linear barcodes. Barcodes held the largest market share in 2017. The 2D barcode segment held the largest market share in 2017, due to increased product use in biopharmaceutical and pharmaceutical for packaging. By product, this market is bifurcated into software solutions and hardware systems. Hardware systems are sub-segmented into monitoring and verification, printing and marking, checkweighers, labeling, barcode scanners, and RFID readers. Software solutions are sub-categorized into line controller, plant manager, bundle tracking, case tracking, warehouse, and shipment manager, pallet tracking, and enterprise and network manager. Software solutions dominated the market, with a revenue share of about 57%, in 2017. Aggregation solutions and serialization solutions are the application segments of track and trace solutions market. Aggregation solutions segment is further categorized into the case, pallet, and bundle whereas serialization solutions into bottle, blister, vials and ampoules, carton, and medical device serialization. Serialization solutions segment held the largest market share in 2017, owing to stringent government regulations for serialization implementation globally. Medical devices companies, pharmaceutical and biopharmaceutical companies, cosmetic industry, and others comprise the end-user segment of this market.
Download Free Report PDF Brochure: https://www.zionmarketresearch.com/requestbrochure/track-and-trace-solutions-market
North America region held about 43% share of the global track and trace solutions market in 2017, owing to the presence of advanced healthcare systems in the U.S. and Canada and stringent regulatory requirements for aggregation and serialization. Other factors that are likely to influence this region’s track and trace solutions market include the presence of a large number of biotechnology, pharmaceutical, and medical device companies and technological advancements in track and trace solutions sector. The demand for medical devices, pharmaceutical, and biopharmaceuticals is increasing rapidly owing to the high chronic diseases’ prevalence, which, in turn, is likely to drive the region’s track and trace solutions market. Medical device manufacturers and other manufacturers are focusing on brand protection, which is also helping in the development of the track and trace solutions market in North America. At the country level, the U.S. is revenue contributor in the North American track and trace solutions market and held a major share in 2017.
Europe represents the second largest regional track and trace solutions market, owing to the substantial developments in the medical device industry and healthcare systems in the region. At the country level, Germany held the largest revenue share in the European track and trace solutions market followed by the UK in 2017. The growing number of product recall related to packaging and increasing focus on brand protection are likely to be major factors contributing toward this market’s growth in European countries, such as France, Germany, and the UK.
Browse the full “Track and Trace Solutions Market by Technology (RFID and Barcodes), by Product (Software Solutions and Hardware Systems), by Application (Aggregation Solutions and Serialization Solutions), and by End-User (Medical Devices Companies, Pharmaceutical and Biopharmaceutical Companies, Cosmetic Industry, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024” Report at https://www.zionmarketresearch.com/report/track-and-trace-solutions-market
The Asia Pacific market is expected to register the highest CAGR in the forecast time period, owing to increasing disposable income of the population, rising healthcare expenditure, growing incidences of lifestyle-related disorders, such as diabetes, cardiovascular diseases, arthritis, etc. The increasing demand for medical devices and pharmaceuticals and rising prevalence of counterfeit drugs in India and China are also estimated to drive the region’s track and trace solutions market in the years ahead.
The Latin American track and trace solutions market exhibited moderate growth in the past and is estimated to experience considerable growth in the upcoming years.
Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/track-and-trace-solutions-market
This report segments the global track and trace solutions market into:
Global Track and Trace Solutions Market: By Technology
- Barcodes
- 2D Barcodes
- Linear Barcodes
- Radiofrequency Identification (RFID)
Global Track and Trace Solutions Market: By Product
- Hardware Systems
- Printing and Marking
- Monitoring and Verification
- Labeling
- Checkweighers
- RFID Readers
- Barcode Scanners
- Software Solutions
- Plant Manager
- Line Controller
- Bundle Tracking
- Warehouse and Shipment Manager
- Case Tracking
- Pallet Tracking
- Enterprise and Network Manager
Global Track and Trace Solutions Market: By Application
- Serialization Solutions
- Bottle
- Blister
- Vials and Ampoules
- Carton
- Medical Device Serialization
- Aggregation Solutions
- Case
- Pallet
- Bundle
Global Track and Trace Solutions Market: By End-User
- Pharmaceutical and Biopharmaceutical Companies
- Medical Devices Companies
- Cosmetic Industry
- Others
Global Track and Trace Solutions Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
Related Reports:
- Prescription Dermatology Therapeutics Market: https://www.zionmarketresearch.com/report/prescription-dermatology-therapeutics-market
- Smart Healthcare Products Market: https://www.zionmarketresearch.com/report/smart-healthcare-products-market
- Viral Clearance Market: https://www.zionmarketresearch.com/report/viral-clearance-market
- Insulin Delivery Devices Market: https://www.zionmarketresearch.com/report/insulin-delivery-devices-market
- Ultrasound Probe Disinfection Market: https://www.zionmarketresearch.com/report/ultrasound-probe-disinfection-market
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research
Blog: http://usindustrynews.com | http://europeindustrynews.com | http://zmrresearchnews.us | http://zmrnewsanalysis.com
Contact Us:
Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com
Blog: http://zmrblog.com