The global track and trace solutions market is growing at a 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.

There are two types of solutions, software, and hardware, offered by manufacturers in the market. Emergent implementation in the healthcare industry and escalating acceptance of software for unceasing management of manufacturing facilities are some of the factors responsible for the growth of the software segment.

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The various applications of these solutions are aggregation solutions, tracking, tracing, and reporting solutions, and serialization solutions.

Acceptance of e-pedigree technology and mounting alliance among market players are the major trends in the track and trace solutions market.

The rigid guidelines and standards for the employment of serialization, progression in the amount of packaging-related product withdraws, the mounting number of forge drugs entering the supply chain, mounting emphasis of manufacturers on brand security and progress in the pharmaceutical and medical devices industries are the primary growth drivers for track and trace solutions market.

North America is the largest track and trace solution market as in the region the occurrence of chronic disease and lifestyle associated diseases is mounting which upsurges the demand for medical devices and pharmaceuticals.

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Asia-Pacific is observed to witness the fastest growth in the market, as in the region the pharmaceutical and medical device expenditure is mounting.

Key players in the track and trace solutions industry are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.

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.

Source: VynZ Research