Pharmaceutical Traceability Market size to grow by USD 9.37 billion from 2021 to 2026, Driven by the growing concerns over counterfeit drugs - Technavio

NEW YORK, April 5, 2023 /PRNewswire/ -- The global pharmaceutical traceability market size is estimated to increase by USD 9.37 billion from 2021 to 2026. The market's growth momentum will progress at a CAGR of 20.02% during the forecast period. One of the key factors fueling the growth in the pharmaceutical traceability market is the growing concerns over counterfeit drugs. Counterfeit drugs are medicines, which are manufactured fraudulently or can be mislabeled with the ingredients, sources, or other information. Customers tend to buy fake medicines either due to lack of awareness or due to low price of such drugs. The distribution of fake and counterfeit drugs impacts consumers hugely. The sudden outbreak of the novel coronavirus disease (COVID-19) pandemic led to a growth in the circulation of counterfeit drugs, especially in developing countries. Hence, growth in the availability of counterfeit drugs has increased the demand for anti-counterfeiting technologies that utilize various traceability systems. This leads to growth in the global pharmaceutical traceability market. Discover some insights on market size during the forecast period (2021 to 2026) before buying the full report - Request a sample report

Pharmaceutical Traceability Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type (barcode, RFID, GPS, and others) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). 

• The market share growth by the barcode segment will be significant for the growth of the pharmaceutical traceability market during the forecast period. Factors like the relatively lower cost when compared with RFID tags, their lightweight nature for ease of use, and the high accuracy levels on different material surfaces, made barcodes to be widely accepted by end-users. The government also promotes the use of barcodes in the pharmaceutical industry by introducing new initiatives and laws. Hence, the various advantages of barcodes and government initiatives drive market growth in the segment.

Geography Overview
By geography, the global pharmaceutical traceability market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global pharmaceutical traceability market.

• Asia is estimated to account for 39% of the growth of the pharmaceutical traceability market during the forecast period. China is the key market for pharmaceutical traceability in the region. Market growth in this region will be faster than the growth of the market in any other region. Various factors such as the growing incidence of various chronic and lifestyle diseases, the increasing number of pharmaceutical companies, rapid advances in drug development, growing demand for the outsourcing of activities associated with drug manufacturing, and the presence of global vendors facilitate the pharmaceutical traceability market growth in the region over the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Pharmaceutical traceability market – Vendor Analysis
Vendor Landscape - The global pharmaceutical traceability market is fragmented with the presence of several global as well as regional vendors. A few prominent vendors that offer pharmaceutical traceability in the market are Adents High Tech International, Alien Technology LLC, AlpVision SA, Authentix Inc, Avery Dennison Corp., Axway Software SA, Bar Code India Ltd, Cognex Corp., Datalogic Spa, Dover Corp., Impinj Inc., Logista Pharma SAU, Mettler Toledo International Inc., MicroTag Temed Ltd, Optel Group, rfxcel Corp., SATO Holdings Corp., TraceLink Inc., and Zebra Technologies Corp. and others.

Vendor Offerings -

• Adents High Tech International - The company offers pharmaceutical traceability solutions such as serialization data. 
• Alien Technology LLC - The company offers pharmaceutical traceability solutions for patient safety in the US. 
• AlpVision SA - The company offers pharmaceutical traceability solutions such as 2D barcode and 2D datamatrix. 
• For details on the vendor and their offerings – Request a sample report

Pharmaceutical Traceability Market – Market Dynamics

Key Trends - 

• Blockchain technology is a primary trend in pharmaceutical traceability market that is expected to have a positive impact during the forecast period. 
• Blockchain is a distributed ledger that records and stores information.
• The primary features that make it unique are decentralization and immutability.
• The authentication or verification of the product, before adding information or giving access to information are some other factors that make it unique. 
• By implementing serialization, massive amount of data is generated as each unit would have a unique serial code. 
• The bulk amount of data produced needs to be stored, managed, and accessed only by authorized stakeholders of the supply chain, and this requirement is effectively managed by using blockchain solution. 
• Hence, factors like the decentralized feature of blockchain that protects the information from getting compromised drive the market demand for pharmaceutical traceability.

Major challenges - 

• No general global standards for the serialization of drugs is a major challenge for the pharmaceutical traceability market during the forecast period. 
• No global standards for serialization are adopted by the nations with different countries following different standards when serial numbers are assigned to drug lots or batches.
• Every country has separate models for serialization and track and trace. For instance, in China, serial codes are generated by the government, which can be verified with the government database, whereas in Europe, drug manufacturers have to upload the serial number to a central database called European Medicines Verification Systems (EMVS).
• While shipping medicines to other countries, one should follow different formats for serialization and the absence of such global standards affects the effectiveness of global pharmaceutical systems put in place against counterfeiting.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Pharmaceutical Traceability Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the pharmaceutical traceability market between 2022 and 2026
• Precise estimation of the size of the pharmaceutical traceability market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the pharmaceutical traceability market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of pharmaceutical traceability market vendors

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Table of Contents   

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments
• Exhibit 24: Chart on Type - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type
• Exhibit 26: Chart on Comparison by Type
• Exhibit 27: Data Table on Comparison by Type

• 5.3 Barcode - Market size and forecast 2021-2026
• Exhibit 28: Chart on Barcode - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Barcode - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Barcode - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Barcode - Year-over-year growth 2021-2026 (%)

• 5.4 RFID - Market size and forecast 2021-2026
• Exhibit 32: Chart on RFID - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on RFID - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on RFID - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on RFID - Year-over-year growth 2021-2026 (%)

• 5.5 GPS - Market size and forecast 2021-2026
• Exhibit 36: Chart on GPS - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on GPS - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on GPS - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on GPS - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Type
• Exhibit 44: Market opportunity by Type ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 Asia - Market size and forecast 2021-2026
• Exhibit 58: Chart on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Asia - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Asia - Year-over-year growth 2021-2026 (%)

• 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
• Exhibit 62: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

• 7.7 US - Market size and forecast 2021-2026
• Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 Germany - Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026
• Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 France - Market size and forecast 2021-2026
• Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.12 Market opportunity by geography
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 92: Matrix on vendor position and classification

• 10.3 Adents High Tech International
• Exhibit 93: Adents High Tech International - Overview
• Exhibit 94: Adents High Tech International - Product / Service
• Exhibit 95: Adents High Tech International - Key offerings

• 10.4 Alien Technology LLC
• Exhibit 96: Alien Technology LLC - Overview
• Exhibit 97: Alien Technology LLC - Product / Service
• Exhibit 98: Alien Technology LLC - Key offerings

• 10.5 AlpVision SA
• Exhibit 99: AlpVision SA - Overview
• Exhibit 100: AlpVision SA - Product / Service
• Exhibit 101: AlpVision SA - Key offerings

• 10.6 Authentix Inc
• Exhibit 102: Authentix Inc - Overview
• Exhibit 103: Authentix Inc - Product / Service
• Exhibit 104: Authentix Inc - Key offerings

• 10.7 Avery Dennison Corp.
• Exhibit 105: Avery Dennison Corp. - Overview
• Exhibit 106: Avery Dennison Corp. - Business segments
• Exhibit 107: Avery Dennison Corp. - Key news
• Exhibit 108: Avery Dennison Corp. - Key offerings
• Exhibit 109: Avery Dennison Corp. - Segment focus

• 10.8 Cognex Corp.
• Exhibit 110: Cognex Corp. - Overview
• Exhibit 111: Cognex Corp. - Product / Service
• Exhibit 112: Cognex Corp. - Key offerings

• 10.9 Datalogic Spa
• Exhibit 113: Datalogic Spa - Overview
• Exhibit 114: Datalogic Spa - Business segments
• Exhibit 115: Datalogic Spa - Key news
• Exhibit 116: Datalogic Spa - Key offerings
• Exhibit 117: Datalogic Spa - Segment focus

• 10.10 Impinj Inc.
• Exhibit 118: Impinj Inc. - Overview
• Exhibit 119: Impinj Inc. - Product / Service
• Exhibit 120: Impinj Inc. - Key offerings

• 10.11 Mettler Toledo International Inc.
• Exhibit 121: Mettler Toledo International Inc. - Overview
• Exhibit 122: Mettler Toledo International Inc. - Business segments
• Exhibit 123: Mettler Toledo International Inc. - Key offerings
• Exhibit 124: Mettler Toledo International Inc. - Segment focus

• 10.12 Zebra Technologies Corp.
• Exhibit 125: Zebra Technologies Corp. - Overview
• Exhibit 126: Zebra Technologies Corp. - Business segments
• Exhibit 127: Zebra Technologies Corp. - Key news
• Exhibit 128: Zebra Technologies Corp. - Key offerings
• Exhibit 129: Zebra Technologies Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 130: Inclusions checklist
• Exhibit 131: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 132: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 133: Research methodology
• Exhibit 134: Validation techniques employed for market sizing
• Exhibit 135: Information sources

• 11.5 List of abbreviations
• Exhibit 136: List of abbreviations

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