Track and trace solutions are used to provide precise position of devices at the present and earlier. The global track and trace solutions market is growing at significant rate, due to rigid guidelines and standards for the employment of serialization and progress in the pharmaceutical and medical devices industries. Different types of solutions contributed to the track and trace solutions market size. The market has witnessed high demand for software over the last few years due to emergent acceptance in healthcare industry.

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The elevated costs related with serialization and aggregation and absence of common principles for serialization and aggregation are the major challenges for the growth of track and trace solutions market.

Globally, the manufacturing companies trying to enter the track and trace solutions market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness the fastest growth in the market, as in the region the pharmaceutical and medical device expenditure is mounting. In addition, expanding geriatric population with mounting lifestyle diseases is up surging the need for pharmaceuticals and medical devices and mounting demand of secure packaging & supply chain efficiency are also creating a positive impact on the track and trace solutions market growth in the region.

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Key players in the track and trace solutions industry are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In November 2017, Körber Medipak Systems completed the acquisition of Systec & Services GmbH to strengthen its business area in pharma systems. Antares Vision, Körber Medipak Systems, Sea Vision, Axway, Adents, METTLER TOLEDO, ACG Worldwide, Optel Group, Tracelink, and Siemens are the key players offering track and trace solutions.

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