The major companies involved in growing their market share through tactics like product launches, partnerships, geographic expansions, and research and development are highlighted in the Global Medical Specimen Tracking System Market Report for 2022–2030.
With a strong compound annual growth rate (CAGR) of 10.3% from 2022 to 2030, the medical specimen tracking system market is expected to reach USD 1.77 billion globally by 2030. Market participants’ technological developments and the growing use of tracking systems to lower diagnosis errors in patients are important factors. The demand for these systems was greatly increased by the COVID-19 epidemic. Positive growth was recorded by major firms such as Agilent Technologies, Thermo Fisher Scientific, and Labcorp Drug Development. Adoption has expanded as a result of the effectiveness of barcoding and tracking systems in lowering errors. With a large number of competitors in the specimen tracking software market, the software segment led the way in 2021. Barcode technology and patient testing were also important factors. It is anticipated that pathology laboratories will grow at the quickest rate because of greater automation and product usage. Major companies, GAO RFID, RMS Omega Technologies VisionID. TrakCel Quick International Courier Cryoport Systems, LLC Lab Connect Taylor Data Systems, Inc. BioIT Solutions, Inc. are aggressively gaining market share by launching new products, forming alliances, and doing research and development. For example, in November 2020, TrakCel finished the proof-of-concept stage of technological integration with partners in the NHS in the United Kingdom.