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Track and trace solutions are not just economic measures for supply-chain efficiency. Experts estimate that 5% of all drugs sold worldwide are counterfeits - in some countries, figures even reach a shocking 50 %. Billions of products are "lost in the supply chain" every year. Counterfeit drugs and product diversion risk lives, undermine revenues, and threaten company reputations. The pharmaceutical industry needs to ensure supply-chain security and gain the ability to authenticate the ePedigree, or life history, of a product.
Track and trace solutions are an essential part of this strategy. Track and trace solutions identify the origins of a pharmaceutical industry product and verify its authenticity. Moreover, track and trace solutions also help combat product diversion, whereby legitimate products are diverted from one market to another, with implications for licensing obligations and distribution agreements as well as for revenues.
LPI (LP Information)' newest research report, the "Pharma Track and Trace Solutions Industry Forecast" looks at past sales and reviews total world Pharma Track and Trace Solutions sales in 2022, providing a comprehensive analysis by region and market sector of projected Pharma Track and Trace Solutions sales for 2023 through 2029. With Pharma Track and Trace Solutions sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Pharma Track and Trace Solutions industry.
This Insight Report provides a comprehensive analysis of the global Pharma Track and Trace Solutions landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Pharma Track and Trace Solutions portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Pharma Track and Trace Solutions market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Pharma Track and Trace Solutions and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Pharma Track and Trace Solutions.
The global Pharma Track and Trace Solutions market size is projected to grow from US$ 1633.5 million in 2022 to US$ 4638.7 million in 2029; it is expected to grow at a CAGR of 16.1% from 2023 to 2029.
The classification of Pharma Track and Trace Solutions includes Barcodes and RFID. The proportion of Barcodes is about 72%, and the proportion of RFID is about 27%. Barcodes technology reported largest revenue share of the track and trace solutions sector.
Pharma Track and Trace Solutions are application in Bio Pharma, Chemical Pharma and Specially Pharma. The most of Pharma Track and Trace Solutions is used in Chemical Pharma, and the market share of that is about 69%.
North America is the largest consumption place, with a consumption market share nearly 42%. Following North America, EU is the second largest consumption place with the consumption market share of 37%.
Market competition is intense. Optel Vision, Siemens, IBM and Axway, etc. are the leaders of the industry, with about 25% market shares.
This report presents a comprehensive overview, market shares, and growth opportunities of Pharma Track and Trace Solutions market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
- Barcodes
- RFID
Segmentation by application
- Bio Pharma
- Chemical Pharma
- Specially Pharma
The below companies that are profiled
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Optel Vision
- Siemens
- IBM
- Axway
- Mettler-Toledo
- Systech
- SAP
- Seidenader Maschinenbau
- Antares Vision
- Sea Vision
- TraceLink
- Adents International
- Xyntek
- Holoflex
- ACG Worldwide