Track and Trace Solutions Market by Type (Barcode Scanner, Plant Manager, Labeling, Monitoring & Verification), Technology (1D & 2D Barcode, RFID), Application (Serialization, Aggregation), End User (Pharmaceutical, Cosmetics) - Global Forecast to 2021
The global healthcare track and trace solutions market is projected to reach USD 2.81 billion by 2021, at a CAGR of 17.3% during the forecast period of 2016 to 2021. Growth in this market is majorly driven by the increasing focus of manufacturers on ensuring brand protection and the presence of stringent regulations for the implementation of serialization and aggregation across the globe.
In this report, the healthcare track and trace solutions market is segmented by product type, technology, application, end user, and region. Based on product type, the healthcare track and trace solutions market is majorly segmented into software solutions and hardware systems. The software solutions segment accounted for the largest share of the healthcare track and trace solutions market in 2015. The software solutions segment is divided into plant manager, line controller, bundle tracking, case tracking, and warehouse and shipment manager solutions. The plant managers segment accounted for the largest share of the software solutions market in 2015. The hardware systems market is segmented into printing and marking solutions, monitoring and verification solutions, labeling solutions, checkweighers, RFID readers, and barcode scanners. The printing and marking solutions segment accounted for the largest share of the hardware systems market in 2015, majorly due to the regulatory mandates for the implementation of serialization around the globe.
Based on technology, the market is segmented into linear barcodes, 2D barcodes, and RFID. In 2015, the 2D barcodes segment accounted for the largest share of the healthcare track and trace solutions market. The RFID segment is expected to register the highest CAGR during the forecast period due to increasing need for traceability in healthcare.
In 2015, North America commanded the largest share of the healthcare track and trace solutions market, followed by Europe. The U.S. is a prime market for healthcare track and trace solutions due to the rising consumer awareness on the use of track and trace technologies to protect against counterfeits and the serialization rules and regulations implemented in the country. The Asia-Pacific market is expected to witness the highest growth in the coming years primarily due to the growing focus of manufacturers on this region.
Major players in the healthcare track and trace solutions market are Axway Inc. (U.S.), Optel Vision (Canada), Mettler-Toledo International Inc. (U.S.), Adents International (France), TraceLink Inc. (U.S.), Antares Vision (Italy), Xyntek Inc. (U.S.), Sea Vision Srl (Italy), Siemens AG (Germany), Seidenader Maschinenbau GmbH (Germany), ACG Worldwide (India), and Systech Inc. (U.S.).
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for increasing their market shares.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by top players in the healthcare track and trace solutions market. The report analyzes the market by product type across all regions
Product Development/Innovation: Detailed insights on upcoming trends, R&D activities, and new product launches in the healthcare track and trace solutions market
Market Development: Comprehensive information on lucrative emerging markets, based on product, technology, application, end user, and region
Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the healthcare track and trace solutions market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of leading players in the healthcare track and trace solutions market