Pune, Maharashtra -- (SBWIRE) -- 01/30/2020 -- Global track and trace solutions market is expected to rise to an estimated value of USD 6.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing awareness regarding the protection of unique medical products as well as the increasing commercialization of medical devices globally.

In this track and trace solutions report, important application areas of the market are also assessed on the basis of their performance. Market predictions along with the statistical nuances presented in the report render an insightful view of the track and trace solutions market. The market study report studies present as well as future aspects of the track and trace solutions Market primarily based upon factors on which the companies participate in the market growth, key trends and segmentation analysis. Geographically this report covers all the major manufacturers from India, China, USA, UK, and Japan.

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Few of the major competitors currently working in the global track and trace solutions market are Antares Vision; Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; Körber AG; Siemens AG; Systech International; Robert Bosch Packaging Technology GmbH; Zebra Technologies Corp.; Uhlmann; RFXCEL CORP.; Weber Marking Systems GmbH; Marchesini Group S.p.A.; Global Healthcare Exchange, LLC; PharmaSecure Inc. and Zetes among others.

Key Developments in the Market:

In August 2017, TraceLink announced that they had acquired ROC IT Solutions, establishing TraceLink as the leader of data assessment and capturing provider for serialization of products for the pharmaceutical market. This will ensure that the users can exchange the product data from their inventories across the different supply chain network users.
In June 2017, TraceLink announced the launch of "Automated Validation Manager (AVM)". The web-based solution offering is designed to be integrated with TraeLink's "Life Sciences Cloud" consistently which will restrict the usage of having to do manual validation while this validation cycle will provide complete information with just logging in to the web portal
Competitive Analysis:

Global track and trace solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of track and trace solutions market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Market Drivers

Increasing prevalence of regulations for the implementation of unique identification methods for products from the authorities are factors driving the growth of the market
Increasing number of products being recalled by various manufacturers and healthcare companies requiring better inventory management; this factor is expected to drive the growth of the market
Increasing prevalence of generic and over-the-counter medicine products is also expected to drive the growth of the market
Rising prevalence of counterfeit medical products and pharmaceuticals flooding the market
Market Restraints

Large financial costs associated with the establishment and operations of these solutions is expected to restrict its complete adoption
Increasing consumption of resources to implement the components required for the functioning of this solution is expected to hinder the growth of the market
Segmentation: Global Track and Trace Solutions Market

By Product

Software
Plant Manager
Line Controller
Enterprise & Network Manager
Bundle Tracking
Case Tracking
Warehouse & Shipment Manger
Pallet Tracking
Hardware Components
Printing & Marking
Barcode Scanners
Monitoring & Verification
Labelers
Checkweighers
RFID Readers
Standalone Platforms
By Application

Serialization
Carton Serialization
Bottle Serialization
Medical Device Serialization
Blister Serialization
Vial & Ampoule Serialization
Label Serialization
Data Matrix Serialization
Aggregation
Case Aggregation
Pallet Aggregation
Bundle Aggregation
Tracking, Tracing & Reporting
By Technology

Real-Time Locating System (RTLS)
2D Barcodes
Radiofrequency Identification (RFID)
Linear Barcodes
By End-User

Pharmaceutical & Biotechnology Companies
Medical Device Companies
Cosmetic Industry
Food & Beverages
Consumer Goods
Luxury Goods
Others
By Geography

North America
Europe
Asia-Pacific
South America
Middle East and Africa
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