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North America Track & Trace Solution Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and Industry (Pharmaceutical, Medical Devices, Consumer Goods, Food & Beverages, and Others)
Market Report I 2023-08-22 I 162 Pages I The Insight Partners
The North America track & trace solution market is expected to grow from US$ 3,003.92 million in 2023 to US$ 6,288.69 million by 2028. It is estimated to register a CAGR of 15.9% from 2023 to 2028.
Stringent Regulations and Criteria for Implementation of Serialization Fuel North America Track & Trace Solution Market
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. 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 scalable drug unit to aid tracking from manufacturer to pharmacy or doctor's office. Thus, the track and trace solutions market will continue to propel significantly during the forecast period.
North America Track & Trace Solution 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 track and trace products and technological advancements in track & trace solutions.
North America Track & Trace Solution Market Revenue and Forecast to 2028 (US$ Million)
North America Track & Trace Solution Market Segmentation
The North America track & trace solution market is segmented into component, enterprise size, application, industry, and country.
Based on component, the North America track & trace solution market is bifurcated into hardware and software. The software segment held a larger share of the North America track & trace solution market in 2023.
Based on enterprise size, the North America track & trace solution market is segmented into SMEs and large enterprise. The large enterprise segment held a larger share of the North America track & trace solution market in 2023.
Based on application, the North America track & trace solution market is segmented into serialization and aggregation. The serialization segment held a larger share of the North America track & trace solution market in 2023.
Based on industry, the North America track & trace solution market is segmented into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The pharmaceutical segment held the largest share of the North America track & trace solution market in 2023.
Based on country, the North America track & trace solution market is segmented into the US, Canada, and Mexico. The US dominated the North America track & trace solution market in 2023.
ACG, Antares Vision SPA, Axway Software SA, Markem-Imaje AG, Mettler-Toledo International Inc, Optel Group, SEA Vision Grp, Siemens AG, TraceLink Inc, and Zebra Technologies Corp are the leading companies operating in the North America track & trace solution market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Track & Trace Solution Market - by Component
1.3.2 North America Track & Trace Solution Market - by Enterprise Size
1.3.3 North America Track & Trace Solution Market - by Application
1.3.4 North America Track & Trace Solution Market - by End User
1.3.5 North America Track & Trace Solution Market - by Country
2. North America Track & Trace Solution Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Track & Trace Solution Market - Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Expert's Opinion
5. North America Track & Trace Solution Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Regulations and Criteria for Implementation of Serialization
5.1.2 Increasing Number of Packaging-Related Product Recalls
5.2 Market Restraints
5.2.1 High Cost of Products and Implementation
5.3 Market Opportunities
5.3.1 Growth in Offshore Pharmaceutical Manufacturing
5.4 Future Trends
5.4.1 Continuous Technological Advancements
5.5 Impact Analysis
6. Track & Trace Solution Market- North America Analysis
6.1 North America Track & Trace Solution Market Revenue Forecast and Analysis
7. North America Track & Trace Solution Market - Revenue and Forecast to 2028 - by Component.
7.1 Overview
7.2 North America Track & Trace Solution Market Revenue Share, by Component 2022 & 2028 (%)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.3 Barcode Scanner
7.3.3.1 Overview
7.3.3.2 Barcode Scanner: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.4 Radio-Frequency Identification (RFID) Readers
7.3.4.1 Overview
7.3.4.2 Radio-Frequency Identification (RFID) Readers: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.5 Others
7.3.5.1 Overview
7.3.5.2 Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.3 Plant Manager
7.4.3.1 Overview
7.4.3.2 Plant Manager: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.4 Line Controller
7.4.4.1 Overview
7.4.4.2 Line Controller: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.5 Others
7.4.5.1 Overview
7.4.5.2 Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
8. North America Track & Trace Solution Market Analysis and Forecasts to 2028 - by Enterprise Size
8.1 Overview
8.2 North America Track & Trace Solution Market, by Enterprise Size 2022 & 2028 (%)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Large Enterprise
8.4.1 Overview
8.4.2 Large Enterprise: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
9. North America Track & Trace Solution Market - Revenue and Forecast to 2028 - by Application
9.1 Overview
9.2 North America Track & Trace Solution Market Revenue Share, by Application 2022 & 2028 (%)
9.3 Serialization
9.3.1 Overview
9.3.2 Serialization: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Aggregation
9.4.1 Overview
9.4.2 Aggregation: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10. North America Track & Trace Solution Market - Revenue and Forecast to 2028 - by End User
10.1 Overview
10.2 North America Track & Trace Solution Market Revenue Share, by End User 2022 & 2028 (%)
10.3 Pharmaceuticals
10.3.1 Overview
10.3.2 Pharmaceuticals: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Medical Devices
10.4.1 Overview
10.4.2 Medical Devices: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Consumer Goods
10.5.1 Overview
10.5.2 Consumer Goods: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.6 Food & Beverages
10.6.1 Overview
10.6.2 Food & Beverages: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11. North America Track & Trace Solution Market - Revenue and Forecast to 2028 - Country Analysis
11.1 Overview
11.1.1.1 US: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Overview
11.1.1.1.2 US: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.3 US: North America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.1.3.1 US: North America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.1.3.2 US: North America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.1.4 US: North America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.1.5 US: North America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.2 Canada: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Overview
11.1.1.2.2 Canada: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.3 Canada: North America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.2.3.1 Canada: North America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.2.3.2 Canada: North America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.2.4 Canada: North America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.2.5 Canada: North America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.2.6 Canada: North America Track & Trace Solution Market, by End User, 2020-2028 (US$ Million)
11.1.1.3 Mexico: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Overview
11.1.1.3.2 Mexico: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.3 Mexico: North America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.3.3.1 Mexico: North America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.3.3.2 Mexico: North America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.3.4 Mexico: North America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.3.5 Mexico: North America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.3.6 Mexico: North America Track & Trace Solution Market, by End User, 2020-2028 (US$ Million)
12. North America Track & Trace Solution Market - Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 ACG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Axway Software SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Antares Vision SPA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Markem-Imaje AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Mettler-Toledo International Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Optel Group
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SEA Vision Grp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Siemens AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TraceLink Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Zebra Technologies Corp
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Recommendations for Executive Actions by the FDA
Table 2. US: North America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 3. US: North America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 4. US: North America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 5. US: North America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 6. US: North America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: North America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: North America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: North America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: North America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: North America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. Canada: North America Track & Trace Solution Market, by End User - Revenue and Forecast to 2028 (US$ Million).
Table 13. Mexico: North America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: North America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico: North America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 16. Mexico: North America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 17. Mexico: North America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 18. Mexico: North America Track & Trace Solution Market, by End User - Revenue and Forecast to 2028 (US$ Million).
Table 19. Organic Developments Done by Companies
Table 20. Inorganic Developments Done by Companies
Table 21. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Track & Trace Solution Market Segmentation
Figure 2. North America Track & Trace Solution Market, by Country
Figure 3. North America Track & Trace Solution Market Overview
Figure 4. Software Segment Held Largest Share of Component Segment in North America Track & Trace Solution Market
Figure 5. Canada Expected to Show Remarkable Growth During Forecast Period
Figure 6. North America: PEST Analysis
Figure 7. Experts' Opinion
Figure 8. North America Track & Trace Solution Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Track & Trace Solution Market - Revenue Forecast and Analysis - 2021-2028
Figure 10. North America Track & Trace Solution Market Revenue Share, by Component 2022 & 2028 (%)
Figure 11. Hardware: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Barcode Scanner: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Radio-Frequency Identification (RFID) Readers: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Software: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Plant Manager: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Line Controller: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Track & Trace Solution Market, by Enterprise Size 2022 & 2028 (%)
Figure 20. SMEs: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Large Enterprise: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Track & Trace Solution Market Revenue Share, by Application 2022 & 2028 (%)
Figure 23. Serialization: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Aggregation: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Track & Trace Solution Market Revenue Share, by End User 2022 & 2028 (%)
Figure 26. Pharmaceuticals: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Medical Devices: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Consumer Goods: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Food & Beverages: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. Others: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. North America Track & Trace Solution Market, by Key Country - Revenue (2022) (US$ Million)
Figure 32. North America Track & Trace Solution Market, by Country, 2022 & 2028 (%)
Figure 33. US: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Canada: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Mexico: North America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Growth Strategies Done by the Companies in the Market, (%)
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