A new “track-and-trace solutions market” report from ReportsnReports predicts the track-and-trace solutions market will reach $3.93 billion by 2023, up from $1.65 billion in 2018. That represents a dynamic 18.9% Compound Annual Growth Rate.
What’s behind this optimistic projection? Says ReportsnReports, “Stringent regulations and standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the medical devices and pharmaceutical industries, and the rising number of packaging-related product recalls.”
The report addresses the market by type, technology, application, end user, and geography. It notes that while North America commanded a major share of the track and trace solutions market in 2017, the Asia-Pacific was expected to witness the highest growth through 2023.
The report analyzes the various types of track-and-trace solutions in the market and their adoption patterns. It estimates the market size and future growth potential of the market, while also including an in-depth competitive analysis of the key players in this market along with their company profiles, recent developments, SWOT analysis, and market strategies.
The track-and-trace solutions market is segmented into bottle serialization, blister serialization, vials and ampules serialization, carton serialization, and medical device serialization. Carton serialization segment is expected to register the highest CAGR during forecast period due to an increasing awareness on supply chain efficiency in pharmaceutical and medical devices.
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