Pharmaceutical traceability are software applications that make the integration of manufacturing and business processes much easier. Supply chain integration has enabled pharmaceutical companies to reduce costs by improving the flow of information between the business and its customers.
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Major players engaged in the market include Optel Ltd., Bureau Veritas, Adents, The Healthcare Distribution Alliance (HDA) Inc., rfxcel Corporation, Movilitas Consulting AG, Trace Link Inc., Logista Pharma, Avery Dennison Corporation, Pharmalutions Pte Ltd., and Cognex Corporation.
Key Market Drivers:
Increasing counterfeit cases and drug theft is a prime factor driving growth of the pharmaceutical traceability market. According to The Economic Times, in India, there was a 24 per cent increase in counterfeiting in 2019 over 2018, leading to the loss of more than Rs 1 lakh crore to the overall economy. Moreover, according to the OECD data, counterfeiting is a universal issue and is 3.3 per cent of global trade impacting social and economic development across the world.
Growing number of partnership in the field of pharmaceutical traceability technology is again stimulating growth of the market. For instance, in October 2020, OPTEL Group (Canada) partnered with Bureau Veritas (Canada). This partnership aimed to launch V-Trade, a complete assured traceability solution for COVID-19 vaccines, in addition to the whole supply chain.
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Covid-19 Impact Analysis
The Covid-19 virus has highlighted the importance of drug tracking and tracing solution due to increasing number of R &D performed in pharmaceutical industry. Researcher around world was engaged in the development of drugs &vaccines for the treatment of Covid-19. This has significant impact on the growth of pharmaceutical traceability market.
- The pharmaceutical traceability market is expected to exhibit a CAGR of XX % over the forecast period, owing increasing technological advancement in the field of tracing solution. For instance, in April 2020, Pharma supply chain solutions provider TraceLink has introduced a new package of agile solutions designed to digitalize the pharmaceutical supply chain.
- North America is expected to witness significant growth over the forecast period and this is attributed to the growing investment by key players in drug tracking and tracing solution.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Pharmaceutical Traceability Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Pharmaceutical Traceability Industry Impact
Chapter 2 Global Pharmaceutical Traceability Competition by Types, Applications, and Top Regions and Countries
2.1 Global Pharmaceutical Traceability (Volume and Value) by Type
2.3 Global Pharmaceutical Traceability (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Pharmaceutical Traceability Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Pharmaceutical Traceability Market Analysis
Chapter 6 East Asia Pharmaceutical Traceability Market Analysis
Chapter 7 Europe Pharmaceutical Traceability Market Analysis
Chapter 8 South Asia Pharmaceutical Traceability Market Analysis
Chapter 9 Southeast Asia Pharmaceutical Traceability Market Analysis
Chapter 10 Middle East Pharmaceutical Traceability Market Analysis
Chapter 11 Africa Pharmaceutical Traceability Market Analysis
Chapter 12 Oceania Pharmaceutical Traceability Market Analysis
Chapter 13 South America Pharmaceutical Traceability Market Analysis
Chapter 14 Company Profiles and Key Figures in Pharmaceutical Traceability Business
Chapter 15 Global Pharmaceutical Traceability Market Forecast (2021-2027)
Chapter 16 Conclusions
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