| Status : Published | Published On : Jul, 2024 | Report Code : VRHC1286 | Industry : Healthcare | Available Format :
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Page : 96 |
Europe Track and Trace Solutions Market - Analysis and Forecast (2025–2030)
Industry Insights By Components (Hardware, Software and Standalone), By Enterprise Size (SMEs and Large Enterprises Sections), By Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), By Technology (2D barcodes, Radiofrequency Identification (RFID), Linear or 1D barcodes), By Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing and Reporting), End User (Pharmaceutical and Biopharmaceutical companies, Consumer Packaged Goods, Luxury Goods, Food and Beverage, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies and Other) and Distribution Channel (Direct Sales and Third-Party Distributors) and By Geography (France, Italy, The UK, Germany, Belgium, Russia, Poland and Rest of Europe)
Industry Overview
The Europe track and trace solutions market is expected to grow from USD 1.8 billion in 2023 to USD 3.5 billion by 2030, at a CAGR of 8.8% during the forecast period ranging from 2025 to 2030.
Tracking or tracing refers to the process to identify a specific object's previous and current position either in transit or in storage among a host of other items in the warehouse. This is a process implemented by several businesses, especially supply chains, to allow better inventory management, product handling, and goods delivery. It ensures safety, timely delivery of goods, reduced risks, cost savings on insurance, better customer support, and up-to-date information through SMS alerts or emails. Of late, track and trace solutions are gaining popularity as a tool to have greater visibility in supply chains and offer more transparency, two factors that are driving its market growth. Several end users across Europe are adopting this process to comply with the strict regulations, especially in the pharmaceuticals, food & beverages sector. It is also widely used in the healthcare sectors to meet the compliance requirements of the EU Falsified Medicines Directive. The market faces regulatory compliance challenges but has growth opportunities through technological advancements in blockchain, IoT, and AI, which, when incorporated into the systems enhance efficiency, accuracy, and security.
Market Segmentation
Insight by Component
The Europe track and trace solutions market is divided by components into hardware, software, and standalone platform segments. Out of the two. The software segment is expected to grow more during the forecast period due to higher adoption and use of cloud-based solutions due to their scalability, flexibility, and cost-effectiveness.
Insight by Solution
A variety of solutions also divide the Europe track and trace solutions market into Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network, and others segments. Out of all these segments, the cloud enterprise-level traceability will register a higher growth due to the growing need for real-time data access, higher scalability, and seamless integration across several sites.
Insight by Application
On the basis of application, the Europe track and trace solutions market is segregated into serialization, printing, labeling and packaging inspection, aggregation, tracking, tracing, and reporting segments. Among all these segments, the tracking, tracing, and reporting segment will grow more due to rise in demand for supply chain transparency and product authenticity across several industries.
Insight By Technology
Different technologies used also divides the Europe track and trace solutions market into 2D barcodes, Radiofrequency Identification (RFID), linear or 1D barcodes segments. During the forecast period, the Radiofrequency Identification (RFID) segment is expected to grow more due to growing need for real-time tracking and accuracy as well as higher need for better inventory management.
Insight by End Users
The Europe track and trace solutions market is categorized on the basis of different end users into pharmaceutical and biopharmaceutical companies, consumer packaged goods, luxury goods, food and beverage, medical device companies, contract manufacturing organizations, repackages, cosmetics companies, and other categories. Out of these end users, the pharmaceutical and biopharmaceutical companiessegment will grow more due to higher compliance requirements and strict regulations for ensuring drug safety and authenticity.
Insight by Distribution Channel
Direct sales and third-party distributors are the two distribution channels that divide the Europe track and trace solutions market. The direct sales segments will grow more due to the need for personalized solutions, greater control over sales processes, and better customer relationships.
Insight by Enterprise Size
In terms of enterprise size, the Europe track and trace solutions market is segregated into SMEs and large enterprises sections. Out of these two sections, the large enterprise segment will hold a larger market share and grow more during the forecast period due to higher adoption and widespread use.
Europe Track and Trace Solutions Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 1.8 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 3.5 Billion |
|
Growth Rate |
8.8% |
|
Segments Covered in the Report |
By Components, By Enterprise Size, Solution, Technology, Application, End User and Distribution Channel |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
France, Italy, The UK, Germany, Belgium, Russia, Poland and Rest of Europe |
Industry Dynamics
Industry Trends
There is a growing trend among companies to improving visibility and traceability of medical, food and feed products. The rising government initiatives in this respect is also quite noteworthy, such as the resolution passed by the German Federal Government on improving visibility of products, and the recommendation of theFederal Council to the German government to declare an amendment to the German Food and Feed Code that regulates the obligations to information related to transmit and traceability of food to submit in a uniform format in electronic form to the relevant authority within 24 hours.
Growth Drivers
The European track and trace solution market is expected to grow at a significant rate during the projected period due to rise in the number of launches of innovative products by market players in the region. It is also attributed to the presence of a large number of competitive players in Europe. In addition, the rise in the number of product recalls, especially for the package-related products, is also encouraging companies to implement this system to reduce such incidents, thereby pushing its demand and market growth. Also, growing awareness among consumers about safety, quality, and fake products have pushed the demand for innovative solutions like RFID-based tracking and tracing systems to ensure product safety during the transit process in the entire value chain.
Challenges
The existence and rapid increase of counterfeit items especially in the pharmaceutical and medical devices sector is a huge challenge the players have to face. Adding to their woes is the existence of alternative and cheaper technologies that detects fraud transactions are also a significant challenge, which is hindering the growth of the Europe track and trace market.
Opportunities
The rise in the number of incidents of drug counterfeiting necessitating efficient systems for supply chain monitoring is creating huge growth prospects for the Europe track and trace market. In addition, the rising demand for serialization and the initiatives by the governments of different countries to reduce product diversion and drug counterfeiting are creating novel growth opportunities.
Geographic Overview
The Europe track & trace solutions market growth is divided by the major regions into France, Italy, the UK, Germany, Belgium, Russia, Poland, and the Rest of Europe.
In the UK, the growth of the market is attributed to the higher adoption in the hospitals and other medical facilities, strict government regulations, need for better inventory management, and the rising focus on patient safety. In Germany, the growth is driven by factors like counterfeit drugs entering the supply chain, increasing awareness of the benefits of these solutions, the growing government initiatives to reduce drug counterfeiting. The primary factor driving the French and Italian market is the growing serialization activities to reduce errors, enhance transparency, and lower the chances of counterfeit products entering the distribution chain.
Competitive Insight
Some of the major players operating in the Europe track and trace solutions market include ANTARES VISION S.p.A and SEA Vision located in Italy, Axwaylocated in France, SeidenaderMaschinenbau GmbH, SAP, Syntegon Technology GmbH, Körber AG, Siemens, Uhlmann Group Holding GmbH & Co. KG, and Laetus GmbH, all located in Germany.
Recent Developments by Key Players
Anatres Visionacquired Adents International to expand its offering of software solutions and cloud services for end-to-end traceability and promote international expansion of the group, mainly in France.
The Europe Track & Trace Solutions Market report offers a comprehensive market segmentation analysis along with the estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Component
- Hardware
- Software
- Standalone
- Enterprise Size
- SMEs
- Large Enterprises Sectionse
- Solution
- Line and Site-Level Serialization
- Cloud Enterprise-Level Traceability
- Distribution and Warehouse Solution
- Supply Chain Data-Sharing Network
- Others
- Technology
- 2D barcodes
- Radiofrequency Identification (RFID)
- Linear or 1D barcodesization
- Application
- Serialization
- Printing
- Labeling and Packaging Inspection
- Aggregation
- Tracking
- Tracing
- Reporting
- End-User
- Pharmaceutical and Biopharmaceutical Companies
- Consumer Packaged Goods
- Luxury Goods
- Food and Beverage
- Medical Device Companies
- Contract Manufacturing Organizations
- Repackages
- Cosmetics Companies
- Others
- Distribution Channel
- Direct Sales
- Third-Party Distributor
Region Covered in the Report
- France
- Italy
- The UK
- Germany
- Belgium
- Russia
- Poland
- Rest of Europe
- Spain
- United-Kingdom
- Rest of Europe
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Source: VynZ Research
Source: VynZ Research
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Europe Track and Trace Solutions Market