Albany, NY -- (SBWIRE) -- 08/07/2018 -- It is very necessary to track the status, location, condition, and quantity of a product or any asset. Track and trace labels provide such facility through which people can identify and track their valuable items. Track and trace labels are available in wide range of sizes, materials, and designs, and fixed with permanent adhesives making them difficult to remove. It provides perfect marking solution for any organizations and business. Barcode can be printed on the track and trace labels for the tracking purpose. Track and trace labels are used for the effective tracking of the parcels and products in transit, and simultaneously offer safety and reliability. Track and trace labels can be personalized with organization's name, logo and with sequential numbering or barcode. Once it is applied to specific product or packaging, then it gives permanent marking to show belonging of an item to particular organization. Track and trace labels are particularly used for courier & postal services, medical services and others. Pharmaceutical manufacturers use track and trace labels within manufacturing and packaging processes. Barcoding and serialization ensures manufacturers about the integrity of their product in compliance with e-pedigree laws.

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Global Track and trace labels market: Dynamics

With increase in product piracy, it is very difficult to keep regular check on the product integrity. It will drive the global track and trace labels market growth. Unit level tracking was in use for years. However, recent changes have been made to the existing laws, for implementation of track and trace systems considered necessary by pharmaceutical manufacturers, which might be a key driver in increasing the global track and trace labels market growth. It is not easy for organizations to keep track of their respective assets or products. Track and trace labels provide easy way to identify their products. It is expected to drive the growth of the global track and trace labels market.

Customizability of track and trace labels allow customers to customize labels as per the requirement. These track and trace labels are adaptive to colour printing, one can choose from various design options, which is anticipated to boost growth of the global track and trace labels market over the forecast period. Packaging converters can use different technology to print barcode on track and trace labels. This attribute leads to increase the global track and trace labels market. Track and trace labels are also used by shippers for tracking the packages which is expected to drive the global track and trace labels market growth. The factor which might hinder growth of the global track and trace labels market is damaging of labels.

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North America and Western Europe are predominant regions and are expected to drive the global track and trace labels market growth over the forecast period, mainly due to highly regulated serialization standards. Asia Pacific and Latin America regions are expected to witness high growth rate over the forecast period due to high interference of fake drugs. Rest of the world is expected to witness moderate growth in global track and trace labels market over the forecast period.

Global Track and trace labels market: Key Players

Few of the market key players of the global track and trace labels are- Lithotech Corporate (Pty) Ltd., Dantech Ltd., SATO America, LLC., Holostik India Ltd., Identco International Corporation, R.R. Donnelley & Sons Company.