Overview:-
The practices of counterfeiting are mostly performed on pharmaceutical products across the world. Counterfeiting practices are the practices where original medicine are substituted with substandard drug containing no active ingredient or may be toxic substance. There is the highly complex supply chain management network in pharmaceutical industry due to which it becomes tough to track products from end to end platform. This is a limitation that created the rise in counterfeiting practice to gain more profit, where products are counterfeited with spurious content. Pharmaceutical products could not be figured out by any stake holder or end users with their spurious content, unlike counterfeiting practices were visible in other products. Anti-counterfeiting technologies are, therefore, applied to nullify adverse impact of counterfeited drugs that may lead to death of the patient in extreme cases. It consists of different kinds of technologies including forensic technologies, overt technologies, cohort technologies as well as track and trace technologies. The most common counterfeited drugs consist of anti-malarial, birth control drugs, and other lifesaving drugs. However, burden of anti-counterfeiting practices are increasing by the end users, due to a rapid change in technology landscape such as availability of smartphones.
Request for Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/1747
Market Drivers:-
Increasing incidence of counterfeiting medicines that affected patient’s health and overall human capital is a major factor that drives growth of the pharmaceutical anti-counterfeiting technologies market. For Instance, in 2016, a report was published by the International Trade Administration Top Market Reports on Pharmaceuticals, which stated that around US$ 75 – 200 billion of the drugs were counterfeited globally, which would cause serious threat to people’s health across the world. Moreover, the Pharmaceutical Security Institute (PSI) reported increase in the global drug diversion incidents including medicinal diversion supplied for compassionate use in 2017.
The consumption of counterfeit drugs led to the serious health hazards or eventual deaths, due to which the demand for anti-counterfeiting technologies was increased. This in turn propelled growth of the pharmaceutical anti-counterfeiting technologies market. For Instance, the International Criminal Police Organization (Interpol) estimated that more than 1 million deaths are caused due to counterfeit drugs annually. The pharmaceutical anti-counterfeiting technologies market size was also expected to rise due to increasing intervention of health authorities including Interpol, OECD and WHO and also government to tackle the problem caused by counterfeit drugs over the forecast period. For instance, EU Falsified Medicines Directive was launched by the European Union to handle the volume of counterfeit drugs.
Another major factor leading to boost the market growth is new and innovative platforms launches in anti-counterfeiting technologies. This would provide high protection to the medicines and would lead to lowering cost in more resilient technology. For instance, Plastiward system was introduced by Clariant in 2017. The system used covert taggants that were innovated by SICPA SA to supply plastic-based integrated anti-counterfeiting technology, used in pharmaceutical packaging. The signature molecular tracking system was used in the tracing and tracking legal cannabis for medical use, which was developed by applying DNA technologies. It is estimated that other emerging technologies including intelligent packaging (Iot, micro sensors, printed electronics) and DNA based technology would be commercialized in coming future.
Market Value:-
The valuation of the global pharmaceutical anti-counterfeiting technologies market was projected up to USD 106.3 billion in 2020. The market is anticipated to grow at a CAGR of 12.09% over the forecast period (2020-2025) and is estimated to reach to USD 188.2 billion by 2025.
Get PDF Brochure with Latest Insights: https://www.coherentmarketinsights.com/insight/request-pdf/1747
Key Players:-
Some of the major players operating in the pharmaceutical anti-counterfeiting technologies market consist of Everest Holovisions Ltd., Authentix, Inc., Angstrom Technologies, Alien Technology, Avery Dennison Corporation, Alpvision, Covectra, Colorcon, Robert Bosch GmbH, Thermo Fisher Scientific and 3M Company.
Key market players are focused on sustaining their position in the market by launching new products and adopting new strategic collaborations. For Instance, Daily Wellness Company collaborated with Sumitomo Corporation for technological development in pharmaceutical industry in the U.S. It chose a platform named as TruTag for its health and nutraceuticals products, in which products would be tagged to detect and authenticate throughout the supply chain. Moreover, ALR-F800-X was launched by Alien Technology with Emissary in May 2017, which was used to simplify RFID reader infrastructure, maintenance, operations and installation.
Regional Analysis:-
The global pharmaceutical anti-counterfeiting technologies market is segmented on the basis of region into North America, Middle East, Asia Pacific, Latin America, Africa and Europe. Among these regions, North America has stringent rules and regulations related to counterfeit drugs along with increasing number of counterfeit drugs, which in turn dominate the market. For Instance, in 2014, nearly US$ 73 million were seized by the U.S. Food and Drug Administration (FDA) in counterfeit drugs in the U.S. Furthermore; the counterfeit opioids levels such as level of fentanyl were increased due to the opioid addiction. For Instance, in 2017, pharmaceutical manufacturers were mandated to detect pharmaceuticals in the unit package level by the U.S. Drug Supply Chain Security Act (DSCSA). This was made mandatory to prevent counterfeiting of pharmaceutical product and also to trace the product within the supply chain.
Furthermore, the increasing number of availability of counterfeit drugs propelled the pharmaceutical anti-counterfeiting technologies market growth in Asia Pacific region. For Instance, in 2017, around 1 in 10 medical products used in low-income and middle-income economies are either falsified or substandard according to the World Health Organization (WHO). It was also estimated that 30% of the branded drugs that were sold in these economies are counterfeit. Moreover, in 2017, Asia Pacific reported with new cases, that are of 51%, in association with the counterfeiting of pharmaceuticals as per the Pharmaceutical Security Institute.
Reasons to Purchase this Report
• Current and future of global Pharmaceutical Anti-counterfeiting Technologies market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table of Content
Global Pharmaceutical Anti-counterfeiting Technologies Market Research Report
Section 1: Global Pharmaceutical Anti-counterfeiting Technologies Industry Overview
Section 2: Global Economic Impact on Pharmaceutical Anti-counterfeiting Technologies Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Pharmaceutical Anti-counterfeiting Technologies Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837