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North America Track and Trace Solutions Market Forecast to 2030
North America Track and Trace Solutions Market Forecast to 2030 – Regional Analysis – by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and End User (Pharmaceutical, Medical Devices, Consumer Goods, Food & Beverages, and Others)
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- Table of Contents
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- LIst of Figures
- List of Companies
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Description
Implementation of Serialization to Combat Counterfeit Drugs Fuels North America Track and Trace Solutions Market
Globally, pharmaceutical companies are adhering to the regulatory compliance for serialization to ensure anti-counterfeiting and traceability of drugs. Most developed and developing economies have either already laid out the regulatory roadmap for serialization or are in the process of doing so. The regulatory push to secure the pharmaceutical supply chain is due to the rising drug-related illegal activities and supply chain inefficiencies. Efforts are aimed at addressing drug counterfeits and unauthorized parallel supply chains, improving supply chain visibility, tracking returns or recalls, and the scarcity of data-driven tools for predicting patient behavior. A few examples of government regulations mandating the serialization of medical products include:
In the US, the Drug Supply Chain Security Act (DSCSA) started in 2013. The DSCSA defines the requirements for an interoperable electronic system to identify and trace pharmaceutical products throughout their distribution in the country. As part of the requirements, pharmaceutical products must be marked with a National Drug Code (NDC), serial number, lot number, and expiration date. The entire supply chain is expected to be electronically integrated, and all nodes of traceability are to be established by November 2023.
The Food and Drug Administration (FDA) mandates manufacturers to track specific devices through the entire distribution chain when and if they receive an order from the FDA to implement a tracking system. These devices could belong to Class I, II, or III.
Governments worldwide believe that counterfeiting is an organized crime that can be tackled significantly by implementing product serialization, and many countries are taking steps in this regard. So, serialization enables running advanced analytics programs to gather deep insights into consumption patterns, geographical penetration, sales, marketing spend effectiveness, etc. According to the 2013 Drug Supply Chain Security Act, starting from November 2017, all pharmaceutical companies selling prescription drug products in the US must serialize each salable drug unit to aid tracking from manufacturer to pharmacy or doctor’s office.
If companies don’t serialize, no wholesalers in the US will purchase their products. Apart from furnishing quality, visibility, and complete traceability within the supply chain, successful serialization programs will be a key differentiator and a clear competitive reward for the companies. Thus, the track and trace solutions market will continue to propel significantly during the forecast period.
North America Track and Trace Solutions Market Overview
The North America track & trace solution market is segmented into the US, Canada, and Mexico. The market growth in this region is attributed due to the presence of large players launching innovative product launches particularly track and trace, growing product introduction in the region, and technological advancements in track & trace solution.
In the US, batch-level tracking has been mandatory since 2015, with package-level serialization obligatory since 2017. According to the Drug Supply Chain Security Act (DSCSA) report, the unit-level traceability of the supply chain is expected to be done in the US by 2023.
Similarly, the Food and Drug Administration (FDA) mandates reveal that all medical devices sold in the US have to be labelled with a unique device identifier (UDI) and production identifier (involving lot or serial number and expiration date), and information has to be stored in the Global UDI Database (GUDID). Also, medical devices intended to be reprocessed must have a permanent marking on devices, ensuring UDI compliance. Through such mandates, can improve the detection and monitor notification of fake products in the supply chain in the US.
North America Track and Trace Solutions Market Revenue and Forecast to 2030 (US$ Million)
North America Track and Trace Solutions Market Segmentation
The North America track and trace solutions market is categorized into component, enterprise size, application, end user, and country.
Based on component, the North America track and trace solutions market is bifurcated into hardware and software. The software segment held a larger North America track and trace solutions market share in 2022. Furthermore, the software segment is subcategorized into plant manager, line controller, and others. Additionally, the hardware segment is subsegmented into barcode scanner, radiofrequency identification (RFID) reader, and others.
In terms of enterprise size, the North America track and trace solutions market is bifurcated into SMEs and large enterprise. The large enterprise segment held a larger North America track and trace solutions market share in 2022.
By application, the North America track and trace solutions market is divided into serialization solutions and aggregation solutions. The serialization solutions segment held a larger North America track and trace solutions market share in 2022.
In terms of end user, the North America track and trace solutions market is categorized into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The consumer goods segment held the largest North America track and trace solutions market share in 2022.
Based on country, the North America track and trace solutions market is categorized into the US, Canada, and Mexico. The US dominated the North America track and trace solutions market share in 2022.
Sys-Tech Solutions Inc, SAP SE, Uhlmann Pac-Systeme GmbH & Co KG, WIPOTEC GmbH, Korber AG, Videojet Technologies Inc, Domino Printing Sciences plc, Kezzler AS, rfxcel Corp, NeuroTags Inc, Catalyx, and Jekson Vison Pvt Ltd. are some of the leading companies operating in the North America track and trace solutions market.
Summary Info
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According to the Research Team’ research, the North America track and trace solutions market was valued at US$ 2,607.35 million in 2022 and is expected to reach US$ 8,621.45 million by 2030, registering a CAGR of 16.1% from 2022 to 2030. Continuous technological advancements and supply chain optimization are among the critical factors attributed to drive the North America track and trace solutions market growth.
The rising need for security and safety of products has raised the demands for technically advanced devices. The current trend of devices created a dynamic shift in the market for track and trace solutions. The advancements in sensors, wireless data, and cloud computing are providing food and beverage companies unprecedented levels of visibility as the demand for the same is on the rise.
The available technologies for tracking and tracing include RFID, barcode, magnetic stripe, voice and vision systems, optical character recognition, and biometrics. Several market players have excelled in this emerging field and have gained success for the track and trace solutions.
In January 2022, Mettler-Toledo PCE launched the Integrated Mark & Verify System and Software which helps pharmaceutical to fulfill their compliance requirements. This system and software integrates code marking and verification capabilities into the manufacturers product line and also enables the printing and verification of 1D and 2 D alphanumeric texts as well as codes.
In May 2022, OPTEL Group launched Optchain, a modular intelligent supply chain solution suite for the food & beverages industry. Optchain’s track-and-trace technology enables all stakeholders to easily capture and digitize critical tracking events and key data elements during the entire supply chain, whether at the item, case, or pallet packaging levels. Additionally, the track and trace solution is the current trend leading to the maximum use of tracking devices for various industries. Thus, the market will boost significantly in the coming future due to the aforementioned factors.
In June 2022, SEA Vision and Marchesini Group launched a new solution for primary pack serialization and aggregation which includes complete range of technologies to print, inspect, and pack serialized blisters and aggregate them with respective cartons.
On the contrary, the high cost of products and implementation hamper the growth of North America track and trace solutions market.
Based on component, the North America track and trace solutions market is bifurcated into hardware and software. The software segment held 60.4% market share in 2022, amassing US$ 1,575.25 million. It is projected to garner US$ 5,245.19 million by 2030 to register 16.2% CAGR during 2022-2030. Furthermore, the software segment is subcategorized into plant manager, line controller, and others. Additionally, the hardware segment is subsegmented into barcode scanner, radiofrequency identification (RFID) reader, and others.
In terms of enterprise size, the North America track and trace solutions market is segmented into SMEs and large enterprise. The large enterprise segment held 65.5% share of North America track and trace solutions market in 2022, amassing US$ 1,707.44 million. It is anticipated to garner US$ 5,467.46 million by 2030 to expand at 15.7% CAGR during 2022-2030.
By application, the North America track and trace solutions market is divided into serialization and aggregation. The serialization segment held 63.4% share of North America track and trace solutions market in 2022, amassing US$ 1,654.11 million. It is projected to garner US$ 5,519.42 million by 2030 to expand at 16.3% CAGR from 2022 to 2030.
In terms of end users, the North America track and trace solutions market is categorized into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The pharmaceuticals segment held 23.8% share of North America track and trace solutions market in 2022, amassing US$ 619.58 million. It is projected to garner US$ 2,177.28 million by 2030 to expand at 17.0% CAGR from 2022 to 2030.
Based on country, the North America track and trace solutions market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.9% share of North America track and trace solutions market in 2022. It was assessed at US$ 2,110.55 million in 2022 and is likely to hit US$ 6,983.92 million by 2030, registering a CAGR of 16.1% during 2022-2030.
Key players operating in the North America track and trace solutions market are Sys-Tech Solutions Inc, SAP SE, Uhlmann Pac-Systeme GmbH & Co KG, WIPOTEC GmbH, Korber AG, Videojet Technologies Inc, Domino Printing Sciences plc, Kezzler AS, rfxcel Corp, NeuroTags Inc, Catalyx, and Jekson Vison Pvt Ltd, among others.
In November 2023, Sys-Tech Solutions Inc announced the launch of the UniSecure platform into the market. The platform is a comprehensive product security solution to detect diversion and counterfeiting. It offers unique product identification, traceability, and product verification through smartphones throughout the supply chain process. The newly launched platform caters to pharmaceutical, nutraceutical, medical products, skin care, and other markets.
In October 2022, Zebra Technologies Corporation announced the new PartnerConnect Location and Tracking Specialization for partners focused on selling RFID and real-time location systems (RTLS). Developed as a strategic component of Zebra’s award-winning PartnerConnect program, the new Location and Tracking Specialization provides resellers with the tools they need to drive RFID and RTLS sales and help businesses successfully deploy these solutions for transformational business benefits.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America track and trace solutions market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America track and trace solutions market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Track and Trace Solutions Market – Key Market Dynamics
4.1 North America Track and Trace Solutions Market – Key Market Dynamics
4.2 Market Drivers
4.2.1 Implementation of Serialization to Combat Counterfeit Drugs
4.2.2 Increasing Number of Packaging-Related Product Recalls
4.3 Market Restraints
4.3.1 High Cost of Products and Implementation
4.4 Market Opportunities
4.4.1 Supply Chain Optimization
4.5 Future Trends
4.5.1 Continuous Technological Advancements
4.6 Impact of Drivers and Restraints:
5. Track and Trace Solutions Market – North America Market Analysis
5.1 North America Track and Trace Solutions Market Revenue (US$ Million), 2020-2030
5.2 North America Track and Trace Solutions Market Forecast Analysis
6. North America Track and Trace Solutions Market Analysis – by Component
6.1 Software
6.1.1 Overview
6.1.2 Software: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
6.2 Hardware
6.2.1 Overview
6.2.2 Hardware: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
7. North America Track and Trace Solutions Market Analysis – by Application
7.1 Serialization Solution
7.1.1 Overview
7.1.2 Serialization Solution: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Aggregation Solution
7.2.1 Overview
7.2.2 Aggregation Solution: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
8. North America Track and Trace Solutions Market Analysis – by Enterprises Size
8.1 SMEs
8.1.1 Overview
8.1.2 SMEs: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Large Enterprises
8.2.1 Overview
8.2.2 Large Enterprises: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
9. North America Track and Trace Solutions Market Analysis – by End Users
9.1 Pharmaceutical
9.1.1 Overview
9.1.2 Pharmaceutical: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Medical Devices
9.2.1 Overview
9.2.2 Medical Devices: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
9.3 Consumer Goods
9.3.1 Overview
9.3.2 Consumer Goods: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
9.4 Food and Beverages
9.4.1 Overview
9.4.2 Food and Beverages: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
10. North America Track and Trace Solutions Market – Country Analysis
10.1 North America
10.1.1 North America: Track and Trace Solutions Market – Revenue and Forecast Analysis – by Country
10.1.1.1 United States: Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.1.1 United States: Track and Trace Solutions Market Breakdown, by Component
10.1.1.1.1.1 United States: Track and Trace Solutions Market Breakdown, by Software
10.1.1.1.1.2 United States: Track and Trace Solutions Market Breakdown, by Hardware
10.1.1.1.2 United States: Track and Trace Solutions Market Breakdown, by Application
10.1.1.1.3 United States: Track and Trace Solutions Market Breakdown, by Enterprises Size
10.1.1.1.4 United States: Track and Trace Solutions Market Breakdown, by End Users
10.1.1.2 Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.2.1 Canada: Track and Trace Solutions Market Breakdown, by Component
10.1.1.2.1.1 Canada: Track and Trace Solutions Market Breakdown, by Software
10.1.1.2.1.2 Canada: Track and Trace Solutions Market Breakdown, by Hardware
10.1.1.2.2 Canada: Track and Trace Solutions Market Breakdown, by Application
10.1.1.2.3 Canada: Track and Trace Solutions Market Breakdown, by Enterprises Size
10.1.1.2.4 Canada: Track and Trace Solutions Market Breakdown, by End Users
10.1.1.3 Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.3.1 Mexico: Track and Trace Solutions Market Breakdown, by Component
10.1.1.3.1.1 Mexico: Track and Trace Solutions Market Breakdown, by Software
10.1.1.3.1.2 Mexico: Track and Trace Solutions Market Breakdown, by Hardware
10.1.1.3.2 Mexico: Track and Trace Solutions Market Breakdown, by Application
10.1.1.3.3 Mexico: Track and Trace Solutions Market Breakdown, by Enterprises Size
10.1.1.3.4 Mexico: Track and Trace Solutions Market Breakdown, by End Users
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 Sys-Tech Solutions Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 SAP SE
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Uhlmann Pac-Systeme GmbH & Co KG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 WIPOTEC GmbH
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Korber AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Videojet Technologies Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Domino Printing Sciences plc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Kezzler AS
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 rfxcel Corp
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 NeuroTags Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Catalyx
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Jekson Vison Pvt Ltd
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
13. Appendix
13.1 About Us
13.2 Glossary of Terms
Table 1. North America Track and Trace Solutions Market Segmentation
Table 2. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Table 3. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 4. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Software
Table 5. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Hardware
Table 6. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 7. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Enterprises Size
Table 8. North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by End Users
Table 9. Recommendations for Executive Actions by the FDA
Table 10. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Component
Table 11. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Software
Table 12. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million) – by Hardware
Table 13. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 14. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Enterprises Size
Table 15. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by End Users
Table 16. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Component
Table 17. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Software
Table 18. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Hardware
Table 19. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 20. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Enterprises Size
Table 21. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by End Users
Table 22. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Component
Table 23. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Software
Table 24. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Hardware
Table 25. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 26. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by Enterprises Size
Table 27. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million) – by End Users
Table 28. Organic Developments Done by Companies
Table 29. Inorganic Developments Done by Companies
Table 30. Glossary of Terms, Track and Trace Market
Figure 1. North America Track and Trace Solutions Market Segmentation, by Country
Figure 2. Impact Analysis of Drivers and Restraints
Figure 3. North America Track and Trace Solutions Market Revenue (US$ Million), 2020-2030
Figure 4. North America Track and Trace Solutions Market Share (%) – by Component (2022 and 2030)
Figure 5. Software: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 6. Hardware: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. North America Track and Trace Solutions Market Share (%) – by Application (2022 and 2030)
Figure 8. Serialization Solution: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Aggregation Solution: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. North America Track and Trace Solutions Market Share (%) – by Enterprises Size (2022 and 2030)
Figure 11. SMEs: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Large Enterprises: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. North America Track and Trace Solutions Market Share (%) – by End Users (2022 and 2030)
Figure 14. Pharmaceutical: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Medical Devices: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Consumer Goods: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Food and Beverages: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Others: North America Track and Trace Solutions Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. North America: Track and Trace Solutions Market Revenue, by Key Countries, (2022) (US$ Mn)
Figure 20. North America: Track and Trace Solutions Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 21. United States: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million)
Figure 22. Canada: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million)
Figure 23. Mexico: Track and Trace Solutions Market – Revenue and Forecast to 2030(US$ Million)
Figure 24. Growth Strategies Done by the Companies in the Market, (%)
The List of Companies – North America Track and Trace Solutions Market
1. Sys-Tech Solutions Inc
2. SAP SE
3. Uhlmann Pac-Systeme GmbH & Co KG
4. WIPOTEC GmbH
5. Korber AG
6. Videojet Technologies Inc
7. Domino Printing Sciences plc
8. Kezzler AS
9. rfxcel Corp
10. NeuroTags Inc
11. Catalyx
12. Jekson Vison Pvt Ltd
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