News Optel Vision Leads the Pharmaceutical Serialization Industry with Biggest Market Share
Quebec City, February 21, 2017—Member of Optel Group, Optel Vision, a leading provider of inspection and serialization systems for the global pharmaceutical industry, announced today that MarketsandMarkets, a global market research and consulting company covering several industry verticals—including industrial automation, packaging and pharmaceuticals, among others—determined that Optel Vision is the leading player in its field with an overall market share of 25.7%.
To establish this percentage, MarketsandMarkets’ recent report, titled TRACK AND TRACE SOLUTIONS MARKET: GLOBAL FORECAST TO 2021, studied several market aspects—namely, the healthcare track and trace solutions market size for product type, application, technology, and end user at regional and country levels. The scope of the report also covered the impact of various market dynamics on the growth of the healthcare track and trace solutions market.
The report stated that the global healthcare track and trace solutions market is expected to register a CAGR of 17.3% during the forecast period, and that “Optel Vision is the leading player in the healthcare track & trace hardware systems market, with a share of 25.7% in 2015. The company is a global leader in the production of inspection and serialization solutions for pharmaceutical companies and contract packaging organizations. Optel Vision focuses on new product launches and agreements & partnerships to sustain its market leadership position. The company has a wide geographical presence, with operations in Europe, Asia, and North & Latin America.” (p. 178)
The MarketsandMarkets report also mentions that Optel Vision is a top player in all of the specific segments covered by the study, and that the solutions offered by the top players are preferred by end users owing to their high quality and the fact that these players also make significant investments in R&D activities. “Optel Vision knows that implementing serialization and aggregation requires a significant investment, so we work hard to provide value-added custom solutions that are scalable and provide excellent ROI,” mentioned Louis Roy, President of Optel Vision. “We’ve also recently developed lower-cost, entry-level solutions for smaller companies that just need to meet their compliance deadlines quickly and at an affordable cost, and I think customers appreciate our efforts to help,” added Mr. Roy.
In response to its resounding success and to help customers meet their serialization deadlines, Optel Vision has expanded significantly. In fact, the company expanded its headquarters in Quebec City with an additional building, which doubled office and production capacity, and added two new manufacturing facilities abroad. Optel Vision now has four main operation centers (Canada, Ireland, India and Brazil), and a total of over 800 employees across 20 countries. This number is expected to reach the 1000 mark by year’s end.
About Optel Vision
Founded in Quebec City in 1989, Optel Vision integrates automated inspection and serialization systems into pharmaceutical production lines, helping ensure the safety of customers’ products. Optel Vision is a worldwide leader in traceability systems for the pharmaceutical industry with a wide customer base, including eight out of the ten biggest generic drug manufacturers in the world. As a founding and active member of the Open-SCS working group and organizer of several serialization roundtable events worldwide, Optel Vision also initiates various collaborative efforts that bring together key industry players to address important serialization issues.
About Optel Group
Parent company of well-renowned Optel Vision, Optel Group oversees a group of business units that use common technologies, mainly in optics, electronics, computer science, and robotics. Each of these business units develops inspection, serialization, traceability and engineering solutions and services for various industries for the purpose of solving real, important issues to ultimately help create a better world. Optel Group is committed to supporting communities in order to ensure the well-being of future generations while respecting employees, customers, and the environment. For more information, visit optelgroup.com.
MarketsandMarkets is a global market research and consult ing company. It is World’s No. 1 in terms of premium market research studies published annually. Serving as a business intelligence partner to Fortune 500 companies across the world, it provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers seventeen industry verticals, including advanced materials, aerospace and defense, agriculture, automotive and transportation, biotechnology, building and construction, chemicals, energy and power, food and beverages, industrial automation, medical devices, mining, minerals and metals, packaging, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. For more information, visit marketsandmarkets.com.