Track and Trace Solutions Market

OPTEL GROUP (Canada) and Antares Vision (Italy) are Leadig Players in the Track and Trace Solutions Market

The implementation of track and trace solutions and technologies is an important strategy adopted by many manufacturing companies and regulatory bodies in recent years. The global track and trace solutions market is projected to reach USD 7.3 billion by 2026 from USD 4.1 billion in 2021, at a CAGR of 12.1% during the forecast period.

Growth in the market is largely driven by stringent regulations & standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the number of packaging-related product recalls, high growth in the generic and OTC markets, and growth in the medical device industry.

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On the other hand, the high costs and long implementation timeframe associated with serialization and aggregation and the huge setup costs are expected to limit market growth to a certain extent.

The key players operating in this market include OPTEL GROUP (Canada), Mettler-Toledo International Inc. (US), Systech International Inc. (US), TraceLink Inc. (US), Antares Vision (Italy), SAP (US), Xyntek Inc. (US), SEA Vision Srl (Italy), Robert Bosch (Germany), Körber Medipak Systems AG (Switzerland), Siemens AG (Germany), Uhlmann Group (Germany), JEKSON VISION (India), Videojet Technologies, Inc. (US), Zebra Technologies Corporation (US), Axway Inc. (US), ACG Worldwide (India), Laetus GmbH (Germany), and WIPOTEC-OCS (Germany).

OPTEL GROUP

OPTEL GROUP is the leading player in the track and trace hardware components and standalone platforms market, in 2020. The company is a global leader in the production of inspection and serialization solutions for pharmaceutical companies and contract packaging organizations. OPTEL focuses on product launches and agreements & partnerships to sustain its market position. The company has a wide geographical presence, with operations in Europe, Asia, and North & Latin America.

ANTARES VISION

Antares Vision is the second leading player in the track and trace hardware components and standalone platforms market, in 2020. The company’s track & trace systems are widely used by pharmaceutical companies for primary and secondary packaging across the globe.

The company mainly focuses on expansions, product launches, and partnerships to maintain its leading position in the track & trace hardware components and standalone platforms market. The company has a global presence, covering Italy, Germany, the US, Brazil, and China. The company’s extensive R&D activities for new product development and its increasing focus on establishing new manufacturing sites offer significant growth opportunities for it in the future.

TraceLink 

It was the leading market player in the track and trace software solutions market in 2020. TraceLink forms the worlds largest track and trace network that provides cloud-based track and trace solutions to pharmaceutical companies, wholesale distributors, contract manufacturers, and packagers. The company’s Life Sciences Cloud is the world’s largest pharmaceutical track and trace network with its serialization application for supply chain efficiency. TraceLink offers suitable solutions for regulatory requirements in countries like the US, China, Brazil, India, and South Korea.

Axway

The company held the second-ranking position in the global track and trace software solutions market in 2020. The company offers robust and advanced software solutions for supply chain traceability, which is an important factor for its large share in the track and trace software solutions market. The company focuses on increasing its presence in this market through continuous R&D to provide technologically advanced products to its customers. In 2020, the company invested approximately USD 66.5 million in R&D activities. To maintain its leading position in the track and trace solutions market, Axway adopted inorganic strategies such as acquisitions, agreements, and partnerships with smaller similar firms. Axway operates in North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America.

SAP and Systech International

These two companies held the third and fourth positions in the global track and trace solutions market in 2020. SAP offers advanced track and trace software for pharmaceuticals, whereas Systech International provides its cloud-based enterprise-level solution called UniTrace to track and trace the supply chain. Other players in the track and trace solutions market include Werum IT Solutions GmbH (Germany), rfxcel Corporation (US), SL Controls Ltd.(Ireland), Grant-Soft (Turkey), PharmaSecure Inc. (US), and MetaOption (US).

Related Reports:

Track and Trace Solutions Market by Product (Plant Manager, Checkweigher, Barcode Scanner, Monitoring), Technology (2D Barcode, RFID), Application (Serialization, Aggregation, Reporting), End User (Pharma, Food, Medical Devices) - Global Forecast to 2026

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Report Code
HIT 4597
RI Published ON
5/20/2021
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