Track and Trace Solutions Market Size, Industry Share, COVID-19 Impact Analysis- 2025 | iCognition Insights

The global track and trace solutions market is expected to accelerate at a CAGR of 14.9% by 2025. This research is published by iCognition Insights in a new report, titled, "Track & Trace Solutions Market Analysis by Product (Hardware, Software), by Technology (RFID, Barcode), by Application (Aggregation, Serialization), by End-User (Medical Device Company, Pharmaceutical Company), & by Region - Forecast to 2025." The report further informs that the market size is projected to reach USD 5400.8 million by 2025. Increasing importance of efficient packaging & logistics management, continuous transparency, benefits of product ID verification services enabling hassle-free product movement within the sales channel and its value addition in brand protection drive the market growth.

Track and trace solutions play a vital role in the supply chain of healthcare products by providing significant security and accuracy, ensuring its arrival at the correct location within a specified timeline. Track and trace solutions help in identifying any weak links in the supply chain of pharmaceuticals & medical devices, authenticate products & their components, and track conditions & prevent damage. From raw materials to processing, from wholesaler to pharmacy, track and trace solutions provide visibility and assist the companies in validating their procedures.

Key decision-making insights from the report:

- In 2019, the Software product segment accounted for the highest revenue share. 

- Barcodes segment dominated the market share due to high adoption of barcodes by pharmaceutical and biotechnology firms. 

- Serialization application segment accounted for the largest revenue share in 2019.

- High adoption of Track and Trace Solutions by Pharmaceutical companies has led to the segment’s dominant share among other end-users in 2019.

Leading market players in this segment:

- Mettler-Toledo International, Inc.Optel Group

- Axway Software 

- Adents International

- TraceLink, Inc.

- Siemens AG 

- Regolo S.r.l.

- Körber AG

- Systech Corporation

- ACG Group

Who we are?

iCognition Insights Private Limited is a mid-size market intelligence and market research services firm, specialized in providing industry-standard syndicated reports and business consulting services to our global clients across healthcare and life sciences. 

How did we conduct this research?

This research is conducted by implementing our proprietary domain-assisted cognition (DAC) research framework that includes a three-stage research methodology. We conduct exhaustive secondary research coupled with primary research from industry/academic experts from industries to validate the market size, assumptions and approaches considered for the research. Our two-stage quality check mechanism at packaging stage ensures authentic and high-quality insights delivered to you for your critical decision-making.