Asia Pacific Track And Trace Solutions Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2023 –2030 |
 Market Size (Base Year) |
USD 562.54 Million |
 Market Size (Forecast Year) |
USD 1,422.96 Million |
 CAGR |
% |
| Major Markets Players |
Asia-Pacific Track and Trace Solutions Market, By Product (Software Components, Hardware Components and Standalone Platform), Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing, and Reporting), Technology (2D Barcodes, Radiofrequency Identification (RFID), and Linear/1D barcodes), End User (Pharmaceutical and Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies and Others), Distribution Channel (Direct Sales and Third Party Distributors) – Industry Trends and Forecast to 2030.
Track and Trace Solutions Market Analysis and Size
According to a World Health Organization article published in 2019, approximately one out of every ten medical products available in low and middle-income countries are substandard or falsified. As a result, drug manufacturers and other end users are increasingly adopting track and trace solutions. Furthermore, Janssen Pharmaceutical, a Johnson & Johnson subsidiary, reported in December 2020 that counterfeit SYMTUZA (darunavir/cobicistat/emtricitabine/tenofovir alafenamide) had been distributed to over three pharmacies in the United States. Janssen is currently collaborating with the US Food and Drug Administration (FDA) to prevent further distribution and assist the FDA in investigating the reported incidents. As a result, these factors are boost the market growth.
Data Bridge Market Research analyses that the track and trace solutions market which is USD 562.54 million in 2022, is expected to reach USD 1422.96 million by 2030, at a CAGR of 12.30% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Track and Trace Solutions Market Scope and Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2023 to 2030 |
|
Base Year |
2022 |
|
Historic Years |
2021 (Customizable to 2015 - 2020) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
|
Segments Covered |
Product (Software Components, Hardware Components and Standalone Platform), Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing, and Reporting), Technology (2D Barcodes, Radiofrequency Identification (RFID), and Linear/1D barcodes), End User (Pharmaceutical and Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies, and Others), Distribution Channel (Direct Sales and Third Party Distributors |
|
Countries Covered |
China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC) |
|
Market Players Covered |
OPTEL GROUP (Canada), Mettler-Toledo (U.S.), Systech International (U.S.), TraceLink Inc. (U.S.), Antares Vision S.p.A (Italy), SAP (Germany), Xyntek Incorporated (U.S.), SEA Vision (Italy), Syntegon (Germany), Körber AG (Switzerland), Siemens (Germany), Uhlmann Group Holding GmbH & Co. KG (Germany), JEKSON VISION (India), Videojet Technologies, Inc. (U.S.), Zebra Technologies Corporation (U.S.), Axway (U.S.), ACG (India), Laetus GmbH (Germany), and WIPOTEC-OCS (Germany) |
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Market Opportunities |
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Market Definition
Track and trace solutions enable brands to trace each product's supply chain step. Brands can use real-time data and insights to solve problems with product sustainability, production efficiency, regulatory compliance and risk. Pharmaceutical track and trace is the most popular digital technique to combat drug counterfeiting.
Track and Trace Solutions Market Dynamics
Drivers
- Rise in the sales of counterfeit drugs
Barcode technology was introduced in the healthcare sector as a result of governmental legislation and a rise in the sales of counterfeit drugs. For instance, the Directorate General of Foreign Trade published a notification announcing the implementation of a track and trace system that incorporates barcode technology for pharmaceutical products exported from India since 2011. As a result, there is a growing market demand for barcode technology, which is anticipated to continue throughout the forecast.
- New Product Developments Support the Market Growth
Track and trace solutions are evolving as a result of regulators' and policymakers' increased focus on maintaining the integrity of the supply chain. Key players are investing in operational scale-up and R&D to create unique solutions in response to the increased need for novel serialisation and aggregation solutions. As an illustration, in April 2022, Trace Technologies (India) raised $1 million in pre-series A capital to expand operations across Indian and worldwide markets, improve the technological platform, and enter new value chains. This will boost the market growth.
Opportunities
- Rise in the need for technologies
Anti-theft and authentication technologies, which are common trademark protection strategies, are designed to protect specific products rather than the entire supply chain. The likelihood of fake goods entering the supply chain at any point is considerable. A system with autonomous and non-line-of-sight capabilities is needed to stop counterfeiting and identify large product items. In recent years, the need for technologies that meet the needs of businesses and have modular designs has increased. For instance, RFID-based track and trace devices maintain a digital history of product transactions across the supply chain. This tactic has been shown to be quite effective in preventing supply chain penetration, theft and fraud.
Restraints/Challenges
- High cost associated with installing and implementing track and trace technologies
The high cost associated with installing and implementing track and trace technologies is a significant obstacle to the market's expansion. Many pharmaceutical firms use conventional system designs, which necessitates a high degree of system customization in order to execute these solutions. Many businesses choose not to employ track and trace solutions since such adaptations result in a significant rise in capital costs. Additionally, the installation of these solutions leads to increased capital expenditure, disrupted workflow and a complexity rise in manufacturing operations all of which hinders the market expansion.
This track and trace solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the track and trace solutions market – Industry Trends and Forecast to 2027 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Asia-Pacific Track and Trace Solutions Market
Healthcare markets have been affected by the COVID-19 epidemic in both positive and negative ways. The market growth is positively impacted by the increasing use of track and trace solutions to stop the trade in important medical products that are counterfeit. There have been multiple instances of crucial medical device counterfeiting, during the COVID-19 epidemic. For instance, 77 nations saw the seizure of phoney COVID-19 testing kits by June 2020, valued at USD 40 million. In addition, customs officers in Hong Kong seized bogus N95 masks worth USD 387,000 in October 2020. In September 2020, more than 400,000 bogus COVID-19 test kits were seized, in india. Consequently, the entrance of fake medical supplies. Thus, the entry of counterfeit medical products is expected to positively impact the adoption of track and trace solutions.
Recent Development
- In 2020, Domino Printing Sciences plc introduced UV97BK black ink for the K600i digital ink jet printer, making it compliant with food packaging. The company's recently introduced new product will enhance demand for it in the market, resulting in more sales and future increases in the company's revenue.
Asia-Pacific Track and Trace Solutions Market Scope
The track and trace solutions market is segmented on the basis of product, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Software
- Plant Manager
- Line Controller
- Enterprise and Network Manager
- Bundle Tracking
- Case Tracking
- Warehouse and Shipment Manager
- Hardware Components
- Printing and Marking
- Barcode Scanners
- Monitoring and Verification
- Labelers
- Checkweighers
- Standalone Platforms
Application
- Serialization
- Carton Serialization
- Bottle Serialization
- Medical Device Serialization
- Blister Serialization
- Vial and Ampoule Serialization
- Aggregation
- Case Aggregation
- Pallet Aggregation
- Bundle Aggregation
- Tracking
- Tracing
- Reporting
End User
- Pharmaceutical and Biopharmaceutical Companies
- Medical Device Companies
- Cosmetic Industry
- Other
Asia-Pacific Track and Trace Solutions Market Regional Analysis/Insights
The track and trace solutions market is analyzed and market size insights and trends are provided by country, product, application and end-user as referenced above.
The countries covered in the track and trace solutions market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China region is growing with the highest growth rate in the forecast period of 2023 to 2030 because drug counterfeiting is becoming more common, people are becoming more aware of track and trace solutions and governments are making more efforts to stop it by enforcing stricter regulations.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Track and Trace Solutions Market Share Analysis
The track and trace solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to track and trace solutions market.
Some of the major players operating in the track and trace solutions market are:
- OPTEL GROUP (Canada)
- Mettler-Toledo (U.S.)
- Systech International (U.S.)
- TraceLink Inc. (U.S.)
- Antares Vision S.p.A (Italy)
- SAP (Germany)
- Xyntek Incorporated (U.S.)
- SEA Vision (Italy)
- Syntegon (Germany)
- Körber AG (Switzerland)
- Siemens (Germany)
- Uhlmann Group Holding GmbH & Co. KG (Germany)
- JEKSON VISION (India)
- Videojet Technologies, Inc. (U.S.)
- Zebra Technologies Corporation (U.S.)
- Axway (U.S.)
- ACG (India)
- Laetus GmbH(Germany)
- WIPOTEC-OCS (Germany)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
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