Inkwood Research estimates that
the Global Track & Trace Solutions Market is estimated to garner a CAGR of
12.10% during the projected period, 2019-2028.
“Browse 75 market Data Tables and
61 Figures spread over 198 Pages, along with an in-depth TOC on Global Track
& Trace Solutions Market Forecast 2019-2028.”
REQUEST FREE SAMPLE LINK- https://www.inkwoodresearch.com/reports/track-and-trace-solutions-market/#request-free-sample
Track
and trace systems reinforce the reliability of the pharmaceutical supply chain
by providing information about the origin and locations of certain products.
This allows the regulatory agencies to administer the safe distribution of
drugs by reducing the number of fake medicines, making recalls easier, and
improving logistic management.
Thriving Medical Devices and Pharmaceutical Industries Boosts
the Global Market
The
medical equipment market is evolving, directed by changing global demographics.
The development of medical devices will continue in the next 5 years, owing to
a surge in the number of chronic devices, global geriatric population,
gastrointestinal disorders, and the shift toward preventive strategies in
healthcare to tackle disease progression. Traceability plays a significant role
in the improvement and inspection of the quality of medical devices.
Pharmaceutical Companies – the Dominating and Leading End-users
in the Market
The
primary role of track & trace in the pharmaceutical industry is recording a
given set or type of information that allows the verification of location,
history, and application to track products throughout the supply chain. The
sale of fake drugs is fanned by factors, such as drug shortages, demand for
generics, cost-cutting pressures, and increased online purchasing, which, in
turn, is leading to the loss of billions of dollars, and increase in health
risks and recalls, ruining the brand image of the pharmaceutical industry.
Track & trace solutions help pharmaceutical companies to efficiently manage
their supply chain and diminish the risks related to counterfeit drugs.
North America Dominated the Global Market in 2019
The
region of North America accounted for the largest revenue share in 2019, due to
the presence of well-established pharmaceuticals and biopharmaceutical, medical
devices companies, and a broad network of distribution of global players.
The
competitive rivalry is expected to be high in the market over the forecast
period. The market players are adopting comprehensive growth strategies such as
increasing product differentiation, strategic partnership, and expansion of
product portfolio to capture larger market share. Furthermore, counterfeit
drugs, the arrival of generics, consistent patent expirations, and other less
costly products are cutting down the revenue of big U.S. pharmaceutical
companies, leading to high competition. Some of the market participants
dominating the majority of the revenue are Axway, Adents, Seidenader
Maschinenbau GMBH, Antares Vision SPA, Tracelink Inc, among others.
About
Inkwood Research
Inkwood
Research specializes in syndicated & customized research reports and consulting
services. Market intelligence studies with relevant fact-based research are
customized across industry verticals such as technology, automotive, chemicals,
materials, healthcare, and energy, with an objective comprehension that
acknowledges the business environments. Our geographical analysis comprises of
North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.
Contact Us
+1 857-302-4704
Related Reports:
Comments
Post a Comment