According to the new market research report “Anti-counterfeit Pharmaceutical Packaging Market (Technology – Holograms, Security Printing and Graphics, Security Ink Coatings, RFID, and Mass Encoding; Application – Tampered Evidence, Forensic Makers, Forensic Makers, Covert Features, and Track and Trace Technologies) – Global Industry Analysis, Trends, Size, Share and Forecasts to 2024“, published by Infinium Global Research. The market size of anti-counterfeit packaging accounted for over USD 100 billion in 2018 and is anticipated to reach over USD 210 billion 10.5% over the forecast period of 2018-2024.
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As per the United States Food and Drug admiration, it is estimated that counterfeits make up more than 10% of the global medicines market. Anti-counterfeit packaging is a process of assigning secure packaging to the products in order to minimize infringement or counterfeiting. This secure packaging process checks the safety of goods and prevents imitation. Anti-counterfeit packaging is especially used to prevent brand imitation and ease for consumers to differentiate between real products and counterfeit products.
WHO estimates that up to 1% of medicines available in the developed world are likely to be counterfeits. This figure rises to 10% globally, although in some developing countries the estimation is about one-third for the counterfeit medicines. Increasing occurrences of counterfeiting in the pharmaceutical industry across the globe are subsequently increasing the demand for anti-counterfeit pharmaceuticals packaging market. Moreover, favorable government policies in pharmaceutical packaging is another major factor responsible for the growth of the market. However, lack of awareness about authenticating pharmaceutical products among the consumers is hampering the growth of the market. Innovation in anti-counterfeit packaging technology is expected to create lucrative growth opportunities for the anti-counterfeit pharmaceutical packaging market over the forecast period.
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Based on technology anti-counterfeit pharmaceutical packaging market is segmented into holograms, security printing and graphics, security ink coatings, RFID and mass encoding. RFID segment is anticipated to contribute for maximum revenue over the forecast period. With the help of RFID (radio frequency identification) technology, the duplication of original material can be prevented. Moreover, RFID technology is opted by many key industries as it reduces manual costs and improves visibility resulting in the demand for RFID market is increasing.
Region Wise Performance of Anti-counterfeit Pharmaceutical Packaging Industry
Among the region, North America is expected to hold maximum share in anti-counterfeit pharmaceuticals packaging market followed by Europe. The countries in these regions have strict government policies about counterfeit manufacturing and sales. Moreover, growing awareness among the end- users is also driving the growth of the market in the North America region. The market in the Asia Pacific region is expected to grow as substantial rate during the forecast period. Due to manufacturers and sales about infringement of pharma-products.
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Major Industry Key Players of Anti-counterfeit Pharmaceutical Packaging Market
The global Anti-counterfeit Pharmaceutical Packaging is highly competitive. The key players profiled in this report are DNA Sciences Inc., SICPA HOLDING SA., AlpVision, DuPont, AVERY DENNISON CORPORATION, ZIH Corp., AZ Coesia GmbH, CCL Industries Inc., and Amcor Limited. Acquisitions & mergers and agreement are the key parameters to remain competitive and to gain greater market share. For instance, in March 2018, Verify Me signed a technology-licensing agreement with intelligent packaging solutions provider eAgile. eAgile is a world-class provider and innovator of IoT Solutions including RFID labels, tags, and intelligent packaging solutions. Under the terms of the agreement, eAgile will be able to offer its clients VerifyMe enabled HP Indigo Security ElectroInk (marketed as RainbowSecure).