What is Pharma Track and Trace Solutions Market Scope?
The pharmaceuticals industry has strived to secure the integrity of its products as they are transferred among the various stops on the value chain from contract manufacturers to wholesalers to dispensers and finally to the patient. Track and Trace Solutions for pharma is used to help identify the authenticity of a drug prior to sale, dispensing return or recall. This helps in reducing counterfeited drugs from entering the supply chain thus, increasing product recall methods and limiting expired products sales. It makes an ordered chain of occasions utilizing the guidelines referenced above to empower total supply chain visibility and historical reporting. The increasing demand for the Track and Trace Solutions in the pharma industries ensures the visibility of drugs along the supply chain right from the time drug is manufactured till the drug is in the hands of a patient
The Pharma Track and Trace Solutions market study is being classified, by Application (Serialization, Aggregations and Reporting) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Pharma Track and Trace Solutions market throughout the predicted period.
OPTEL Group (Canada), Mettler-Toledo International Inc. (United States), Systech International Inc. (United States), TraceLink Inc. (United States), Antares Vision (Italy), Xyntek Inc. (United States), Adents International (France), SEA Vision Srl (Italy), Robert Bosch (Germany), Körber Medipak Systems AG (Switzerland) and Siemens AG (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Uhlmann Group (Germany), Zebra Technologies Corporation (United States),, Axway Inc. (United States) and ACG Worldwide (India).
Analyst at AMA have segmented the market study of Global Pharma Track and Trace Solutions market by Type, Application and Region.
On the basis of geography, the market of Pharma Track and Trace Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
“The Food and Drug Administration (FDA) set forth in the 1987 Prescription Drug Marketing Act, which went into effect in 2006, bar code identification is required on all unit-dose medication packaging in addition to at least two forms of anti-counterfeiting protection on the packaging. Both houses of the U.S. Congress are examining issues around medication product security and, as of late 2007, 23 states had passed laws requiring an electronic pedigree (e-pedigree)”
Influencing Market Trend
- The adoption of, automated track-and-trace systems like barcoding and radio frequency identification (RFID) have grown swiftly
- High Growth in the Generic and Otc Market
- Growth in the Medical Device Industry
- Increasing efforts to prevent pharmaceutical counterfeiting and diversion.
- Increasing pressure of governmental and regulatory agencies for ensuring medication product security
- Increasing pricing and margin pressures
- The rise of the Counterfeit of the drug in the pharma industry
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Pharma Track and Trace Solutions Provider, Government Regulatory and Research Organizations and End-Use Industry
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research & Media features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.