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Track-and-Trace Market Predicted to Soar Through 2025

DSCSA’s Nov. 26, 2018 deadline for unit-level product identifiers is fast-approaching, but serialization and track and trace will remain relevant for years to come.

Evidence that the track-and-trace market will remain vibrant comes in the form of recent MarketInsightsReports projections that its global solutions market will rise at a healthy 16.9% Compound Annual Growth Rate through 2025, reaching a value of $5.15 billion by that year.

Although the report says “high implementation costs” represent the primary market restraint, it lists the following three important market drivers:

• Favorable regulations for technology implementation

• Increasing focus of healthcare product manufacturers on brand protection

• Growth in the number of packaging-related product recalls

The report segments the track-and-trace market by type, including hardware, software, and machinery, including printing, marking, verification, checkweighing, labeling, scanners and readers. The report also analyzes the market by application. For serialization, this includes a view of bottle, label, carton and datamatrix. For aggregation, the focus is on bundle, case and pallet.

By end user, the global track-and-trace report reviews not only pharmaceutical and biopharmaceutical companies, but also medical device and cosmetics applications. Technologies evaluated include 2D barcodes, Radio Frequency Identification and linear barcodes.

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Discover the right packaging solutions for life sciences in Philadelphia
Explore innovative packaging and supply chain solutions for the life sciences at the largest PACK EXPO East in history, March 18–20. Get ideas from 400+ top exhibitors and connect with colleagues and industry experts—all in one convenient location!
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Discover the right packaging solutions for life sciences in Philadelphia