Track & Trace Solutions Market is Expected to Grow at an Impressive Rate by 2025

1. Track And Trace Solutions Market Size Estimated To Reach USD 5,400.8 Million By 2025 |Market Trends, Growth And Forecast: 2020 – 2025 iCognition Insights predicts the track and trace solutions market size to reach USD 5,400.8 million by 2025, registering a CAGR of 14.9% during the forecast period. Increasing importance of efficient packaging & logistics management, continuous transparency, and benefits of product ID verification services enabling hassle-free product movement within the sales channel drive the market growth. Track and trace solutions play a vital role in the supply chain of healthcare products by providing significant security and accuracy, ensuring its arrival at correct location within a specified timeline. Track and trace solutions help in identifying any weak links in the supply chain of pharmaceuticals & medical devices, authenticate products & their components, and track conditions & prevent damage. From raw materials to processing, from wholesaler to pharmacy, track and trace solutions provide visibility and assist the companies in validating their procedures. For more insights into the NGS services market, request a FREE sample of this report: CLICK HERE Market Segmentation in the Report: This global report by iCognition Insights focuses on market size and forecast of the track and trace solutions market at global, segmental, regional and country level along with key market trends and dynamics from 2017 to 2025. The report encompasses a detail market segmentation by product (software, hardware), technology (RFID, Barcodes), application (aggregation, serialization), end-user (medical device manufacturers, pharmaceutical companies, others) and region (North America, Europe, Asia Pacific, LATAM, ME&A). In 2019, the Software product segment accounted for the highest revenue share. Hassle-free implementation of track and trace solutions in uninterrupted management of production operations, product lines, bundle tracking, shipping, and warehousing is accelerating the revenue growth of the segment. By Technology, Barcodes segment dominated the market share due to high adoption of barcodes by pharmaceutical and biotechnology firms. The RFID segment is projected to grow at a lucrative CAGR. Growing advancements in technology coupled with booming market for advanced shipping solutions with RFID, further propelling the segment growth over the forecast period to 2025. Serialization application segment accounted for the largest revenue share in 2019. Increasing pressure by regulatory authorities for adoption of standardized labeling, rising importance for patient safety, and safeguarding brand from product deceit are fueling the segment growth during the forecast period.

2. High adoption of Track and Trace Solutions by Pharmaceutical companies has led to the segment’s dominant share among other end-users in 2019. The pharmaceutical companies’ end-user segment accounted for the largest revenue share in 2019 owing to the wide adoption of track and trace solutions for organized management of their production line and supply chain, thereby safeguarding their brand value from counterfeiting. For instance, in August 2020, National Health Regulatory Authority (NHRA) of Bahrain announced its plans to establish a track and trace system for monitoring the supply chain of pharmaceuticals in the country. Additionally, in November 2019, TraceLink partnered with Saudi Azm to assist pharmaceutical companies comply with the Saudi Food and Drug Authority’s (SFDA) requirement for aggregation and reporting regulations. Asia-Pacific is projected to record the fastest CAGR over the forecast period. The report insights predict the global track and trace solutions market to be led by North America with Asia-Pacific to register the fastest CAGR during the forecast period. The report offers an in-depth analysis of the growth opportunities available in these regions for the market players. Leading Players in Track and Trace Solutions Market are: Mettler-Toledo International, Inc. Optel Group Axway Software Adents International TraceLink, Inc. Siemens AG Regolo S.r.l. Körber AG Systech Corporation ACG Group The full version of the Report offers exhaustive market insights based on in-depth TOC: Study Scope Market Summary Market Dynamics Industry Outlook Covid-19 Impact and Deviation Analysis Track & Trace Solutions Market Size and Forecast, by Product (2017-2025), USD Million Track & Trace Solutions Market Size and Forecast, by Technology (2017-2025), USD Million Track & Trace Solutions Market Size and Forecast, by Application (2017-2025), USD Million Track & Trace Solutions Market Size and Forecast, by End-User (2017-2025), USD Million Read full TOC @ Track and Trace Solutions Market TOC…

3. Key questions addressed in this Report: What is the current market size, future growth and forecast of the market? What are the market dynamics and probable opportunities for industry players? What is the impact of COVID-19 on the market size & deviation analysis? What are the recent strategies adopted by leading market players? About iCognition Insights: iCognition Insights is a leading life sciences and healthcare market intelligence and market research services firm, specialized in providing industry-standard syndicated reports, custom research and business consulting services to our global clients. Our methodological research approach coupled with deep domain and analytical expertise opens the doors to the insights that really matter. With over 20+ years of combined industry experience, we assist our clients in chalking their strategic growth plans and make informed business decisions. Our proprietary DAC research and analysis framework enable our clients discover hidden insights and granular quantitative and qualitative information on the market, technology, or company of interest. Contact Us: iCognition Insights Pvt. Ltd. No. 7, Sai Apt., Survey No. 67, Tingre Nagar, Pune- 411032, India US: +1 617 676 0160 APAC: +81 503 196 4844 Email: insights@icognitioninsights.com Website: https://www.icognitioninsights.com/