Track and trace system is an anti-counterfeiting solution used in food & beverage and pharmaceutical industry. Track and trace system is used for printing unique identification code onto the individual product once the products are packed and ready to move. Track and trace system allows tracing the individual products throughout the supply chain. Various track and trace systems, ranging from basic to complex trace and track systems are offered by different manufacturers globally.
Global Track and Trace System Market: Drivers & Restraints
The growth of global track and trace system market is driven by the demand for anti-counterfeiting measures in the industries such as pharmaceuticals and food & beverages. Counterfeiting is rising as a major concern in the developing markets. The instances of forgery in pharmaceutical products are very high in developing markets such as India, China, Brazil as compared to developed markets. To overcome counterfeiting issues companies are opting for technological measures to secure their supply chain, which in turn is augmenting the demand for track and trace system market globally. Furthermore, pharmaceutical and food & beverage industries growth along with the consumer awareness towards the authenticity of the products are supplementing the demand for track and trace system market globally. Trends identified in the global track and trace system market are regulatory bodies such as US FDA (Food and Drug Administration), and European Federation of Pharmaceutical Industries and Associations (EFPIA) are mandating the pharmaceutical industry to print unique identification code on the medical package. However, this trend is followed in mostly the developed countries, whereas, in the developing countries where the regulations are lenient might hamper the growth of track and trace system market globally.
Request for a sample:
Global Track and Trace System Market: Segmentation
The global track and trace system market is segmented on the basis of track and trace system types, end-use and region
On the basis of track and trace system types, the global track and trace system market is segmented into:
- Linear Barcodes
- 2D Barcodes
- Radio-frequency Identification (RFID) Tags
- Real-time Locating System (RTLS)
On the basis of end-use industry, the global track and trace system market is segmented into:
- Food & Beverages
Ask for brochure:
Track and Trace System Market: Regional Outlook
Based on the geographies, global track and trace system market is segmented into five key regions – North America, Latin America, Europe, APAC, and the Middle East & Africa. Among the regions mentioned above, North America accounts for a significant share of track and trace packaging market. The dominance of pharmaceutical packaging industry is a key factor contributing to the growth of track and trace system market in North America as compared to the other regions. Government regulations minimizing the counterfeiting practices in the food & beverage and pharmaceutical products is another factor attributing to the growth of track and trace system market in the region. North America is followed by Europe, following the similar trend. Asia-Pacific is anticipated to grow a significant rate over the forecast period, owing to the rapid industrialization in the region and promising pharmaceutical industries in the region. Overall, the global track and trace market is anticipated to register a healthy CAGR over the forecast period.
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
Global Track and Trace System Market: Key Players
Some of the major players identified in the global track and trace system market include Robert Bosch GmbH, Siemens AG, pester pac automation, Werum IT Solutions GmbH, Uhlmann Packaging Systems LP, Global Healthcare Exchange, LLC., Marchesini Group S.p.A., and Weber Marking Systems GmbH.
Read Our Latest Press Release:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Transparency Market Research State Tower,
90 State Street,
Albany NY – 12207
USA – Canada Toll Free: 866-552-3453
Email: [email protected]