PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720025
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720025
Track and Trace Solutions in Healthcare market size was evaluated at USD 4,829 million in 2024, rising at a CAGR of 14.60% from 2025 to 2032.
Track and trace solutions include technologies and systems that monitor and trace the movement of healthcare products, such as pharmaceuticals and medical devices, from manufacturing to distribution to the end user. These solutions use a variety of technologies, including barcode labeling, Radio Frequency Identification (RFID), serialization, and advanced data management software, to ensure product authenticity, integrity, and compliance with industry standards. They play an important role in pharmaceutical logistics.
Track and Trace Solutions in Healthcare Market- Market Dynamics
Impact Of Healthcare Sector Growth
The growth of the healthcare sector is expected to drive the track and trace solutions in healthcare market in the coming years. The healthcare sector includes a wide range of services and industries that focus on illness diagnosis, treatment, and prevention, as well as individual well-being, such as hospitals, clinics, pharmaceuticals, medical devices, and healthcare professionals. The healthcare sector is expanding as a result of an aging population, an increase in the prevalence of chronic diseases, advances in medical technology, and rising demand for personalized and easily accessible healthcare services. The healthcare industry requires track and trace solutions to ensure patient safety, regulatory compliance, and the integrity of pharmaceutical products throughout the supply chain, preventing counterfeiting and facilitating effective recalls when necessary. For instance, according to the 2021-2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a federal agency based in the United States, national health spending is expected to rise by 5.1% per year between 2021 and 2030, totaling nearly $6.8 trillion. Furthermore, it is expected that Medicare spending will increase by 7.2% per year between 2021 and 2030, while Medicaid spending will increase by 5.6% per year. As a result, the track and trace solutions in healthcare market is growing in tandem with the healthcare sector.
Track and Trace Solutions in Healthcare Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of 14.60% from 2025 to 2032.
In 2024, the Hardware had the highest market share based on Component segmentation.
Based on Application segmentation, between 2025 and 2032, the Serialization solutions segment is expected to grow at a higher CAGR.
In 2024, the Barcodes segment accounted for the largest market share, according to Technology segmentation.
In 2024, the Pharmaceutical and biotechnology companies had the highest market share based on End Use segmentation.
On the basis of region, in 2024, North America generated the highest revenue.
The global vehicle-mounted spotlights market is divided into five categories: Component, Application, Technology, End Use, and region.
Based on technology, the market is separated into three categories: Barcodes, RFID, and other technologies. Barcode technology had the highest revenue share in 2024. The 2D barcode is currently the dominant segment of barcode technology and is expected to remain so throughout the forecast period. The increased use of 2D barcodes in pharmaceutical and biopharmaceutical product packaging is a significant factor contributing to the higher revenue share. Furthermore, 2D barcodes have a higher data storage capacity than linear barcodes and are more popular in the industry, increasing demand for 2D barcode-based solutions.
According to End Use, the market is separated into three categories: Pharmaceutical and biotechnology companies, medical device companies, and other end users. Pharmaceutical and biotechnology companies dominated the market in 2024. Implementing serialization to ensure safe product tracking and traceability across various entities throughout the supply chain is a critical step toward addressing the challenges that pharmaceutical companies face. Currently, pharmaceutical manufacturers must comply with federal and state regulations for track and trace solutions, which drives up demand. The Senate passed the Drug Quality and Security Act, H.R. 3204, into federal law in September 2013.
Track and Trace Solutions in Healthcare Market- Geographical Insights
Geographically, this market encompasses North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. These zones are further split based on which countries bring business. North America had the highest revenue share in 2024, owing to the prevalence of highly regulated serialization and aggregation standards, as well as advanced healthcare infrastructure. The FDA recommends automatic identification technologies such as barcode and RFID to pharmaceutical and other healthcare companies. Furthermore, the presence of a well-developed healthcare infrastructure and the adoption of this technology in the United States are expected to drive the market.
Europe has emerged as the second-largest regional market for track and trace solutions in terms of revenue, and it is expected to remain so until 2032. This is due to the presence of developed economies such as Germany, Turkey, the United Kingdom, France, and Italy in the region. The European Union intends to gradually implement track and trace solutions throughout the healthcare supply chain to combat drug counterfeiting and theft. According to the Falsified Medicines Directive, manufacturers who fail to comply with drug serialization regulations will be barred from marketing their products in Europe.
The industry is highly competitive, with many companies offering a variety of technologies such as barcode solutions, RFID systems, and GPS-based platforms. Major corporations such as ACG Worldwide, Adents, Antares Vision, Axway, and Korber, which are highly specialized firms focused on software-driven solutions, are significant market participants. The market is being driven by a growing demand for increased supply chain visibility, regulatory compliance, and enhanced security measures. Companies differentiate themselves through innovation, service offerings, and strategic alliances. For instance, in July 2024, Praxis Packaging Solutions teamed up with Systech, a major traceability and digital identification services provider for the pharmaceutical industry, to use its track and trace platform to improve supply chain transparency. This agreement provides Praxis customers with access to product tracing and aggregation solutions that are compliant with global standards.
In May 2024, Merck introduced the M-Trace Software & Mobile App, a powerful data tracking system designed to digitize sterility testing. This software improves overall process safety by automatically recording data at each test stage, reducing deviations, false positives, and human errors.
In November, 2024, Airgain, Inc. has introduced the AT-Flight asset tracker, which enables real-time monitoring of temperature-sensitive assets in healthcare and life sciences. With automated flight mode compliance, extended battery life, and operation in temperatures as low as -20°C, it aids cold chain logistics for goods such as vaccines. Airgain, which is certified by the PTCRB, FCC, and DO-160, is seeking airline approvals in the United States and Europe, in line with its strategy of expanding into high-value IoT markets.
In April, 2024, Clarivate Plc, in collaboration with Global Health Intelligence, has launched a LatAm market tracking solution to provide detailed analysis of the medical device market in Latin America. The solution uses comprehensive datasets and the Clarivate device catalog to cover more than 100 medical devices and 500 product categories in countries such as Brazil, Colombia, and Argentina.