Worldwide Industry for Track and Trace Solutions to 2028 - Growing Demand from Emerging Regions - ResearchAndMarkets.com

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The "Global Track and Trace Solutions Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.

As per this report, the global market for track and trace solutions is predicted to exhibit a CAGR of 12.75% during the estimated period of 2019-2028.

Factors such as the growing number of counterfeit drugs, coupled with favorable regulations for serialization implementation, are motivating the growth of the studied market during the forecast period. Furthermore, blockchain adoption and rising demand from emerging countries, are opening multiple opportunities for the track and trace solutions market in the same period.

However, the high costs of solutions and lack of common standards, are significantly weighing down the progress of the track and trace solutions market globally.

The global track and trace solutions market covers North America, Asia-Pacific, Latin America, Europe, Middle East and Africa regions.

Geographically, North America holds the largest market for track and trace solutions, and it is likely to continue its dominance over the market till 2028. The region's growth is mainly due to highly regulated serialization standards and the enhanced healthcare infrastructure. The FDA advocates automatic identification technologies, such as barcoding and RFID, to pharma and healthcare companies. Furthermore, the presence of renowned pharma, biopharma, and medical devices companies, are contributing to the high traction of track and trace solutions, in turn, boosting the track and trace solutions market across the region.

Market Dynamics

Drivers

  • Growing Number of Counterfeit Drugs

  • Favorable Regulations for Serialization Implementation Helps Market Growth

Restraints

  • High Cost of Solutions

Opportunities

  • Blockchain Adoption Can Further Increase Transparency and Security

  • Growing Demand from Emerging Regions

Challenges

  • Lack of Common Standards

Companies Mentioned

  • ACG Group

  • Antares Vision Spa

  • Axway

  • Mettler Toledo International Inc

  • Rfxcel Corporation

  • Optel Group

  • Seidenader Maschinenbau GmbH

  • Sea Vision Srl

  • Tracelink Inc

  • Siemens AG

  • Systech International

  • Korber AG

  • Xyntek Inc

  • Zebra Technologies Corporation

For more information about this report visit https://www.researchandmarkets.com/r/3g65h4

View source version on businesswire.com: https://www.businesswire.com/news/home/20201204005284/en/

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