Middle East and Africa Track and Trace Solutions Market – Industry Trends and Forecast to 2030

Middle East and Africa Track and Trace Solutions Market Analysis and Size

The hardware systems segment is anticipated to grow profitably during the anticipated time frame. The printing and marking solutions segment's sales share in the hardware systems category was the highest in 2021. The production and supply chain depend on this system to ensure the items' authenticity and quality. The market for track and trace solutions is expanding due to the need to attain regulatory compliance and rising serialization demand. Printing and marking technology is anticipated to be crucial for achieving the Drug Supply Chain Security Act (DSCSA) standards by 2023. Track and trace solutions are also projected to be fueled by the advancement of coding technologies including laser marking systems, large character marking (LCM) and thermal transfer overprinting (TTO).

Data Bridge Market Research analyses that the track and trace solutions market which is USD 57.816 million in 2022, is expected to reach USD 112.69 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Middle East and Africa Track and Trace Solutions Market Scope and Segmentation

Market Definition

Track and trace solutions enable brands to trace each step of a product's supply chain. Brands can use real-time data and insights to solve problems with product sustainability, production efficiency, regulatory compliance and risk. Pharmaceutical track and trace is the most popular digital technique to combat drug counterfeiting. In the countries that do not benefit from this system, many people cannot obtain effective medical care, and the nations also struggle to manage health spending.

Middle East and Africa Track and Trace Solutions Market Dynamics

Drivers

• New Product Developments Support the Market Growth

Track and trace solutions are evolving as a result of regulators' and policymakers' increased focus on maintaining the integrity of the supply chain. Key players are investing in operational scale-up and R&D to create unique solutions in response to the increased need for novel serialization and aggregation solutions. As an illustration, in April 2022, Trace Technologies (India) raised $1 million in pre-series. A capital to expand operations across Indian and worldwide markets, improve the technological platform, and enter new value chains. This will boost the market growth.

• Rise of counterfeit goods

Increasingly, maintaining regulatory compliance has been necessary to preserve product validity. The use of track and trace systems has increased across numerous industries as a result of the spread of counterfeit goods. Most industrialised nations have already implemented these measures to reduce the risk of product recalls, disease outbreaks, brand tarnishing and illicit parallel supply networks that encourage illegal operations and crime. Track and trace technology are becoming more widely adopted as a result of expanding governmental and regulatory initiatives. The most popular method for monitoring and tracing things around the world for a long time has been serialization.

• Rising adoption in the pharmaceutical industry

The market will be driven by rising utilization in the pharmaceutical industry for product id verification, packaging and logistics management. Government regulations forcing pharmaceutical businesses to  their products and technological improvements in track and trace systems are anticipated to drive the market for track and trace solutions during the forecast period.

Opportunities

• Rise in the need for technologies

Anti-theft and authentication technologies, which are common trademark protection strategies, are designed to protect specific products rather than the entire supply chain. The likelihood of fake goods entering the supply chain at any point is considerable. A system with autonomous and non-line-of-sight capabilities is needed to stop counterfeiting and identify large product items. In recent years, the need for technologies that meet the needs of businesses and have modular designs has increased. For instance, RFID-based track and trace devices maintain a digital history of product transactions across the supply chain. This tactic has been shown to be quite effective in preventing supply chain penetration, theft and fraud.

Restraints/Challenges

• High cost associated with installing and implementing track and trace technologies

The high cost associated with installing and implementing track and trace technologies is a significant obstacle to the market's expansion. Many pharmaceutical firms use conventional system designs, which necessitate a high degree of system customization to execute these solutions. Many businesses choose not to employ track and trace solutions since such adaptations significantly raise capital costs. Additionally, the installation of these solutions leads to increased capital expenditure, disrupted workflow and a complexity rise in manufacturing operations, all of which hinder market expansion.

This track and trace solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the track and trace solutions market – Industry Trends and Forecast to 2027 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Middle East and Africa Track and Trace Solutions Market

Healthcare markets have been affected by the COVID-19 epidemic in both positive and negative ways. The market growth is positively impacted by the increasing use of track and trace solutions to stop the trade in important medical products that are counterfeit. There have been multiple instances of crucial medical device counterfeiting, during the COVID-19 epidemic. For instance, 77 nations saw the seizure of phoney COVID-19 testing kits by June 2020, valued at USD 40 million. In addition, customs officers in Hong Kong seized bogus N95 masks worth USD 387,000 in October 2020. Thus, the entry of counterfeit medical products is expected to positively impact the adoption of track and trace solutions.

Recent Development

• In 2020, TraceLink launched Serialized Product Analytics, a new cloud service that harnesses serialization data to provide actionable intelligence and operational excellence.
• In 2021, Adents International was acquired by Anatres Vision (Italy). (France). With this purchase, the business has expanded its selection of software solutions and cloud services for end-to-end traceability. The development also helped the Group expand internationally, especially in France.

 Middle East and Africa Track and Trace Solutions Market Scope

The track and trace solutions market is segmented on the basis of product, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Software
• Plant Manager
• Line Controller
• Enterprise and Network Manager
• Bundle Tracking
• Case Tracking
• Warehouse and Shipment Manager
• Hardware Components
• Printing and Marking
• Barcode Scanners
• Monitoring and Verification
• Labelers
• Checkweighers
• Standalone Platforms

Application

• Serialization
• Carton Serialization
• Bottle Serialization
• Medical Device Serialization
• Blister Serialization
• Vial and Ampoule Serialization
• Aggregation
• Case Aggregation
• Pallet Aggregation
• Bundle Aggregation
• Tracking
• Tracing
• Reporting

End User

• Pharmaceutical and Biopharmaceutical Companies
• Medical Device Companies
• Cosmetic Industry
• Other

 Middle East and Africa Track and Trace Solutions Market Regional Analysis/Insights

The track and trace solutions market is analyzed and market size insights and trends are provided by country, product, application and end-user as referenced above.

The countries covered in the track and trace solutions market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

South Africa region is growing with the highest growth rate in the forecast period of 2023 to 2030 due to growing government efforts to reduce drug counterfeiting by enforcing strict laws, rising incidence of drug counterfeiting and growing awareness of track and trace systems in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Middle East and Africa Track and Trace Solutions Market Share Analysis

The track and trace solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to track and trace solutions market.

Some of the major players operating in the track and trace solutions market are:

• OPTEL GROUP (Canada)
• Mettler-Toledo (U.S.)
• Systech International (U.S.)
• TraceLink Inc. (U.S.)
• Antares Vision S.p.A (Italy)
• SAP (Germany)
• Xyntek Incorporated (U.S.)
• SEA Vision (Italy)
• Syntegon (Germany)
• Körber AG (Switzerland)
• Siemens (Germany)
• Uhlmann Group Holding GmbH & Co. KG (Germany)
• JEKSON VISION (India)
• Videojet Technologies, Inc. (U.S.)
• Zebra Technologies Corporation (U.S.)
• Axway (U.S.)
• ACG (India)
• Laetus GmbH(Germany)
• WIPOTEC-OCS (Germany) 

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