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Global Track and Trace Solutions Market is estimated to value over USD 4.5 billion by
2029 end and register a CAGR of over 14% during the forecast period 2019 to 2029.
Tack and trace solutions are implemented to monitor supply chains by major
biopharmaceutical and pharmaceutical companies in order to curb down drug
counterfeiting. Drug counterfeiting ranges from something relatively harmless as
misleading medication with an intent to duplicate an authentic and approved
product to the dangerous practice of selling medication consisting of an excess or
insufficient amount of active ingredient. But using track and trace solutions, this
obstacle can be eliminated to a very large extent.
1. By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America subjugates the global market owing to a large-scale presence of highly
regulated aggregation and serialization standards coupled with an advanced
healthcare infrastructure. FDA recommends self-regulating identification
technologies like RFID and barcoding to major healthcare and pharmaceutical
companies which increases the market proliferation of the region.
2. By Product
• Software Solutions
o Plant Manager
o Line Controller
o Enterprise & Network Manager
o Pallet Tracking
o Bundle Tracking
o Case Tracking
o Warehouse & Shipment Manager
• Hardware Solutions
o Printing & Marking
o Standalone Platforms
o Barcode Scanners
o RFID Readers
o Checkweighers
o Monitoring & Verification
o Labellers
Software solutions account for the largest market share owing to an escalating
adoption in healthcare, biopharmaceutical, pharmaceutical and medical device
companies. These solutions are used for incessant management of product lines,
manufacturing facilities, warehousing & shipping and case & bundle tracking.
3. By Application
• Aggregation
o Pallet Aggregation
o Bundle Aggregation
o Case Aggregation
• Tracking, Tracing & Reporting
• Serialization
4. By Technology
• Radiofrequency Identification (RFID)
• 2D Barcodes
• Linear Barcodes
2D barcodes hold the largest market share and it is expected to dominate the market
during the forecast period as well. 2D barcodes have a high capacity of data storage
as compared to linear barcodes which have propelled its popularity in the industry
thus proliferating the overall market.
Stringent government regulations and a rise in counterfeit drug sales have led to the
prosecution of barcode technology in the healthcare industry. The Directorate
General of Foreign Trade announced that the track and trace system-based barcode
technology should be implemented on pharmaceutical products exported from India.
Therefore, the demand for this technology has risen and this trend will continue
during the forecast period as well.
5. By End User
• Food and Beverage Industry
• Medical Device Companies
• Cosmetic Industry
• Pharmaceuticals & Biopharmaceutical Companies
• Others
Food and beverage industry has incurred huge losses in the recent past by selling
counterfeit goods which is why this segment holds the largest share of the market.
According to a survey conducted by the Centre for Biosecurity from the University of
Pittsburgh Medical Centre (UPMC) in 2010, 30 individuals died and around 150 were
hospitalized in the U.S due to contaminated cantaloupe. This and many other
incidences make it instrumental to implement track and trace solutions across
several countries.
Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: sales@futurewiseresearch.com
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com