Pharma Track and Trace Solutions Market Report 2024 (Global Edition)

Global Pharma Track and Trace Solutions Market Report 2024 Market Size Split by Product Type (Hardware Systems, Software Solutions), by Technology (Barcode, RFID), by Application (Serialization Soluti...

Pharma Track and Trace Solutions Market Report Description

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Competitive Landscape of the Pharma Track and Trace Solutions Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Pharma Track and Trace Solutions Industry New

• February 2023: DispatchTrack integrated a recent track and trace element into its last-mile platform. This component has been created to capture immense amounts of data, manage it, and express it so that end-users can access the identical data that is required.

(Source:https://www.parcelandpostaltechnologyinternational.com/news/delivery/dispatchtrack-introduces-track-and-trace-function-for-last-mile-platform.html ) 

Top Companies Market Share in Pharma Track and Trace Solutions Industry: (In no particular order of Rank)

• METTLER-TOLEDO (U.S.)
• Laetus GmbH (Germany)
• Systech International Inc. (U.K.)
• Zebra Technologies Corporation (U.S.)
• IBM Corporation (U.S.)
• SAP SE (Germany)
• Accenture plc (Ireland)
• Siemens S.A. (Spain)
• Honeywell International Inc. (U.S.)
• HCL Technologies (India)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

• Regional analysis of the Pharma Track and Trace Solutions Market

• Which Region will dominate the Pharma Track and Trace Solutions Market in 2024?

• According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the existence of highly controlled serialization and aggregation standards and developed healthcare infrastructure. Automatic identification techniques, such as barcoding and RFID, are advised to pharmaceuticals and other healthcare firms by the FDA. Furthermore, highly developed healthcare infrastructure and the adoption of this technique in the U.S. are anticipated to drive the market.

• Which Region is Expanding at the Fastest CAGR?

• Europe is the fastest-growing region due to stringent regulatory mandates, such as the EU Falsified Medicines Directive (FMD), to prevent counterfeit drugs and ensure patient safety. These regulations drive the adoption of track and trace technologies like serialization and aggregation across the pharmaceutical supply chain. Additionally, increasing focus on improving supply chain efficiency and combating drug diversion further fuels the demand for these solutions, fostering market expansion and innovation.

The current report Scope analyzes Pharma Track and Trace Solutions Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Pharma Track and Trace Solutions Market

According to Cognitive Market Research, the global pharma track and trace solutions market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031 due to presence of top firms across industries such as automobiles, pharmaceuticals, retail and e-commerce, and more is fueling market expansion in the region. The U.S. is likely to dominate the market owing to the significant investments in advanced technologies. According to Cognitive Market Research, stringent regulations mandating serialization and traceability, alongside rising concerns regarding counterfeit drugs. Software solutions offering real-time monitoring, compliance, and supply chain visibility drive market growth and ensure pharmaceutical safety. In conclusion, North America's pharma track and trace solutions market is driven by the rising pharmaceutical and biotechnology industries. 

• According to Cognitive Market Research, the US had a major share in the pharma track and trace solutions market, with a market size of USD XX million in 2024, and is projected to grow at a CAGR of 16.2% during the forecast period. The nation's increased research and development (R&D) activities for novel drug discovery.
• The Canadian pharma track and trace solutions market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 17.2% during the forecast period. Canada's developing technology and constantly changing demands of the global pharmaceutical industry.
• The Mexican pharma track and trace solutions market is projected to grow at a CAGR of 16.9% during the forecast period, with a market size of USD XX million in 2024.

Europe Pharma Track and Trace Solutions Market

According to Cognitive Market Research, the global pharma track and trace solutions market size was estimated at USD XX Million, out of which Europe held the major market of more than 30% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031 due to growing implementation of regulations, such as the Falsified Medicines Directive Act, in the medical field has boosted the need for solutions in the pharmaceutical industries of European countries. According to Cognitive Market Research, the market is driven by stringent regulations mandating serialization and authentication, fostering widespread adoption of barcode-based tracking systems. The requirement for enhanced supply chain visibility and counterfeit prevention drives the market forward, stimulating innovation and investment. In conclusion, the growing adoption of these solutions by healthcare companies expands the region's pharma track and trace solutions market.

• The United Kingdom pharma track and trace solutions market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 17.5% during the forecast period. This is due to increased demand for transparent and secure pharmaceutical distribution channels.
• The French pharma track and trace solutions market is projected to grow at a CAGR of 15.9% during the forecast period, with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the size of the pharma track and trace solutions market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 16.9% during the forecast period. In Germany, pharma track and trace solutions sales surged due to the presence of major market players. 
• The Italian pharma track and trace solutions market is projected to grow at a CAGR of 16.1% during the forecast period, with a market size of USD XX million in 2024.
• The Russian pharma track and trace solutions market is projected to grow at a CAGR of 15.7% during the forecast period, with a market size of USD XX million in 2024.
• The Spanish pharma track and trace solutions market is projected to grow at a CAGR of 15.8% during the forecast period, with a market size of USD XX million in 2024.
• The Luxembourg pharma track and trace solutions market is projected to grow at a CAGR of 16.8% during the forecast period, with a market size of USD XX million in 2024.
• The Portuguese pharma track and trace solutions market is projected to grow at a CAGR of 16.5% during the forecast period, with a market size of USD XX million in 2024.
• The Greece pharma track and trace solutions market is projected to grow at a CAGR of 17.0% during the forecast period, with a market size of USD XX million in 2024.
• Rest of Europe pharma track and trace solutions market is projected to witness growth at a CAGR of 15.4% during the forecast period with a market size of USD XX million in 2024.

Asia Pacific Pharma Track and Trace Solutions Market

According to Cognitive Market Research, the global Pharma Track and Trace Solutions market size was estimated at USD XX Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031 due to growing population across major countries. This significantly drives the requirement for solutions to manage and monitor the product via its lifecycle. With the prominent provider in electrical and electronic elements, retail and e-commerce chains, and more, China is anticipated to hold the major share. According to Cognitive Market Research, stringent regulatory mandates for serialization solutions are aimed at combating counterfeit drugs, ensuring patient safety, and enhancing supply chain transparency, thus driving adoption and market growth. In conclusion, the well-established pharmaceuticals and biotechnology industries will drive the region's pharma track and trace solutions market.

• According to Cognitive Market Research, the size of the Chinese pharma track and trace solutions market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 19.7% during the forecast period. This is due to the nation's increasing prevalence of anti-counterfeiting measures.
• The Japan pharma track and trace solutions market is projected to grow at a CAGR of 18.7% during the forecast period, with a market size of USD XX million in 2024. This is due to the country's surge in the adoption of track-and-trace solutions by pharmaceutical and medical device manufacturers.
• The Indian pharma track and trace solutions market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 22.0% during the forecast period. 
• The South Korean pharma track and trace solutions market is projected to grow at a CAGR of 19.3% during the forecast period, with a market size of USD XX million in 2024.
• The Australian pharma track and trace solutions market is projected to grow at a CAGR of 19.9% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia pharma track and trace solutions market is projected to grow at a CAGR of 21.2% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific pharma track and trace solutions market is projected to grow at a CAGR of 20.0% during the forecast period with a market size of USD XX million in 2024.

South America Pharma Track and Trace Solutions Market

According to Cognitive Market Research, the global pharma track and trace solutions market size was estimated at USD XX Million, out of which Latin America market has more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2031 due to region's stringent regulations to combat counterfeit drugs, ensuring patient safety and regulatory compliance. The implementation of serialization and traceability measures further fuels market demand for enhanced drug authentication and supply chain visibility. According to Cognitive Market Research, medical device companies are facing increased scrutiny, and the adoption of track and trace technologies is accelerating, driving market growth and fostering compliance with regulatory standards across the region. In conclusion, the region's pharma track and trace solutions market is driven by the region's new advanced software launched by prominent key players.

• According to Cognitive Market Research, the size of the Brazilian pharma track and trace solutions market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 18.2% during the forecast period. Pharma track and trace solutions flourished in Brazil due to increased production of generic medicines in the country.
• The Argentina pharma track and trace solutions market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 18.5% during the forecast period. The rise in the number of packaging-related products.
• The Colombia pharma track and trace solutions market is projected to grow at a CAGR of 17.4% during the forecast period, with a market size of USD XX million in 2024.
• The Peru pharma track and trace solutions market is projected to grow at a CAGR of 17.8% during the forecast period, with a market size of USD XX million in 2024.
• The Chile pharma track and trace solutions market is projected to grow at a CAGR of 17.9% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Latin America pharma track and trace solutions market is projected to grow at a CAGR of 16.7% during the forecast period with a market size of USD XX million in 2024.

Middle East and Africa Pharma Track and Trace Solutions Market

According to Cognitive Market Research, the global pharma track and trace solutions market size was estimated at USD XX Million, out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031 due to region's increasing disposable incomes, and urbanization. As more individuals seek to display and organize their instruments efficiently, demand for innovative and durable hangers continues to surge, driving market expansion in the region. According to Cognitive Market Research, the market is driven by adopting barcode technology for product authentication, and supply chain transparency further drives market growth by enhancing traceability and accountability across the pharmaceutical industry. In conclusion, the region's pharma track and trace solutions market is driven by the introduction of advanced software for monitoring the supply chain.

• According to Cognitive Market Research, the GCC Countries' pharma track and trace solutions market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 18.7% during the forecast period. Pharma track and trace solutions flourished in the GCC countries due to the region's rising cases of drug counterfeiting.
• The Egyptian pharma track and trace solutions market is projected to grow at a CAGR of 18.2% during the forecast period, with a market size of USD XX million in 2024.
• The South African pharma track and trace solutions market is projected to grow at a CAGR of 18.9% during the forecast period, with a market size of USD XX million in 2024. Pharma track and trace solutions flourished in South Africa due to the region's increased investments and government spending on research and development activities.
• The Turkish pharma track and trace solutions market is projected to grow at a CAGR of 17.4% during the forecast period, with a market size of USD XX million in 2024.
• The Nigerian pharma track and trace solutions market is projected to grow at a CAGR of 17.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of MEA pharma track and trace solutions market is projected to grow at a CAGR of 16.9% during the forecast period with a market size of USD XX million in 2024.

Pharma Track and Trace Solutions Market Analysis

Pharma Track and Trace Solutions Market Product Type Segment Analysis

According to Cognitive Market Research, software solutions held the major market share over the forecast period due to the rising adoption of healthcare products in healthcare companies, such as pharmaceuticals, biopharmaceuticals, and medical devices. These software solutions are utilized for continuous management of manufacturing establishments, product lines, case and load tracking, and warehousing and shipping.

Hardware systems are the fastest-growing category over the forecast period as this system plays an essential role in the production and supply chain to provide the quality and genuineness of the products. Increasing demand for serialization and the requirement to achieve regulatory compliance are fueling market growth

• Hardware Systems
• Software Solutions

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Pharma Track and Trace Solutions Industry. Request a Free Sample PDF!

Pharma Track and Trace Solutions Market Technology Segment Analysis

According to Cognitive Market Research, barcodes hold a prominent market share due to their capability of storing 100 times the information as compared to linear barcodes. This assists in transferring more data and expands convenience in tracing and inspecting the products from extensive batches. Linear barcode is a traditional way of scanning to encode the product details.

RFID is the fastest-growing category over the forecast period due to stringent regulatory mandates, such as serialization requirements, to curb counterfeiting and ensure drug safety. RFID technology plays a pivotal role, enabling real-time tracking and authentication of pharmaceutical products throughout the supply chain and enhancing transparency and compliance.

• Barcode
• RFID

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Pharma Track and Trace Solutions Application Segment Analysis

According to Cognitive Market Research, serialization solutions hold a prominent market share due to the increasing priority of regulatory bodies on their performance. Federal agencies, country management, and the healthcare industry are taking action to reduce product diversion and drug counterfeiting. Serialization is a primary step to comply with recent ePedigree regulations that are needed for product traceability during the supply chain.

Aggregation solutions are the fastest-growing category over the forecast period due to stringent regulations to curb counterfeit drugs, enhance patient safety, and ensure product authenticity. Adopting advanced aggregation solutions further drives market growth by enabling seamless tracking and monitoring of pharmaceutical products throughout the supply chain, bolstering efficiency and compliance.

• Serialization Solutions
• Bottle Serialization
• Label Serialization
• Carton Serialization
• Data Matrix Serialization
• Aggregation Solutions
• Bundle Aggregation
• Case Aggregation
• Pallet Aggregation

Pharma Track and Trace Solutions End User Segment Analysis

According to Cognitive Market Research, pharmaceutical & biotechnology companies hold a prominent market share. Ensuring safe product tracking and traceability abilities across numerous entities throughout the supply chain by implementing serialization is a critical step in addressing the challenges faced by pharmaceutical companies.

Medical device companies are the fastest-growing category over the forecast period due to the increasing incidence of counterfeit drugs, driving the adoption of track and trace solutions globally. Medical device companies also contribute to market growth, seeking compliance and enhanced supply chain visibility to ensure product safety and integrity.

• Pharmaceutical & Biotechnology Companies
• Medical Device Companies
• Others

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

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Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

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