Global Pharma Track and Trace Solutions market will reach 3330 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/11

Track and trace solutions are not just economic measures for supply-chain efficiency. Experts estimate that 5% of all drugs sold worldwide are counterfeits – in some countries, figures even reach a shocking 50 %. Billions of products are “lost in the supply chain” every year. Counterfeit drugs and product diversion risk lives, undermine revenues, and threaten company reputations. The pharmaceutical industry needs to ensure supply-chain security and gain the ability to authenticate the ePedigree, or life history, of a product.

North America is the largest consumption place, with a consumption market share nearly 42.4% in 2017, primarily due to presence of highly regulated serialization & aggregation standards, as well as advanced healthcare infrastructure. Automatic identification technologies including barcoding and RFID are recommended to pharmaceuticals and other healthcare companies by the FDA. Furthermore, the presence of highly developed healthcare infrastructure and adoption of this technology in the U.S. is expected to drive the market growth. Following North America, EU is the second largest consumption place with the consumption market share of 37.4% in 2017.

In 2018, the global Pharma Track and Trace Solutions market size was 1000 million US$ and it is expected to reach 3330 million US$ by the end of 2025, with a CAGR of 18.8% during 2019-2025.

Click to view the full report:
https://www.qyresearch.com/index/detail/1026036/global-pharma-track-and-trace-solutions-market
This article was first released by QYResearch, if reproduced, please indicate the source.
Telephone number:020-86655165
Contact:press@qyresearch.com
When contacting, please refer to QYR company's Mia introduction.