Middle East & Africa Track & Trace Solution Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and Industry (Pha

Middle East & Africa Track & Trace Solution Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and Industry (Pharmaceutical, Medical Devices, Consumer Goods, Food & Beverages, and Others)

The Middle East & Africa track & trace solution market is expected to grow from US$ 387.07 million in 2023 to US$ 794.43 million by 2028. It is estimated to register a CAGR of 15.5% from 2023 to 2028.

Increasing Number of Packaging-Related Product Recalls Fuel Middle East & Africa Track & Trace Solution Market

Product recalls caused by issues with artwork and packaging are an ongoing problem for many consumer and pharmaceutical companies. The problems can come from several areas, such as non-standardized bills of material, translation mistakes, typos and poor proofreading, expired digital assets, poor printing quality, third-party artwork suppliers, and printing shops.

Product recalls not only cause financial damage to companies but they also harm their status and can cause a drop in sales figures in the future. Stricter regulations, especially in the pharmaceuticals and food segments, and rising consumer awareness about product quality have increased the need for innovative solutions to ensure product safety during the entire value chain. Pharmaceutical labeling errors have generated many headlines. They are the leading cause of product recalls in the pharmaceuticals industry.

Further, Packaging Machinery Manufacturers Institute estimates that more than 50% of pharma product recalls are related to labeling or packaging artwork errors. These errors are problematic, and the details can lead to significant pharmaceutical packaging and labeling inaccuracies. Common mistakes include gross errors (which occur when necessary information is missing from artwork), content mistakes, context and meaning flaws, and technical errors, such as dysfunctional barcodes. Once a problem occurs, it is necessary to identify the source to avoid reoccurrence. Preventing labeling errors is as crucial as containing inaccuracies in drug development. The RFID labeling can be integrated into highly secure and effective track-and-trace systems to reduce the cases of labeling errors. Thus, the rising cases of product recalls is positively influencing the growth of the track and trace solutions market.

Middle East & Africa Track & Trace Solution Market Overview

The Middle East & Africa track & trace solution market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. Saudi Arabia is expected to account for the largest market share and is expected to develop moderately in the Middle East & Africa.

Middle East & Africa Track & Trace Solution Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Track & Trace Solution Market Segmentation

The Middle East & Africa track & trace solution market is segmented into component, enterprise size, application, industry, and country.

Based on component, the Middle East & Africa track & trace solution market is bifurcated into hardware and software. The software segment held a larger share of the Middle East & Africa track & trace solution market in 2023.

Based on enterprise size, the Middle East & Africa track & trace solution market is segmented into SMEs and large enterprise. The large enterprise segment held a larger share of the Middle East & Africa track & trace solution market in 2023.

Based on application, the Middle East & Africa track & trace solution market is segmented into serialization and aggregation. The serialization segment held a larger share of the Middle East & Africa track & trace solution market in 2023.

Based on industry, the Middle East & Africa track & trace solution market is segmented into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The pharmaceutical segment held the largest share of the Middle East & Africa track & trace solution market in 2023.

Based on country, the Middle East & Africa track & trace solution market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa track & trace solution market in 2023.

ACG, Markem-Imaje AG, Mettler-Toledo International Inc, Siemens AG, and Zebra Technologies Corp are the leading companies operating in the Middle East & Africa track & trace solution market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa track & trace solution market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa track & trace solution market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.