Global Pharma Track and Trace Solutions Market Growth (Status and Outlook) 2023-2029

Global Pharma Track and Trace Solutions Market Growth (Status and Outlook) 2023-2029

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

This report also splits the market by region:

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

Please note: The report will take approximately 2 business days to prepare and deliver.