A recent market intelligence report that is published by Data Insights Partner on the global Anti-counterfeit Pharmaceutical Packaging Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Anti-counterfeit Pharmaceutical Packaging Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Anti-counterfeit Pharmaceutical Packaging Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Anti-counterfeit Pharmaceutical Packaging Market is offered. In accordance with the report, the global Anti-counterfeit Pharmaceutical Packaging Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
The false representation in pharmaceutical product in relation to its identity or source is called counterfeiting and the steps taken for prevention are termed anti-counterfeit pharmaceutical packaging. In order to maintain the integrity of the original manufacturer’s packaging throughout the supply chain, brand owners are adopting security solutions called anti-counterfeiting pharmaceutical packaging. Anti-counterfeit packaging applies directly on the product, its container, packaging, or labeling. It provides an assurance that the packaging code applied by the original manufacturer is unchanged and the product is free from counterfeiting.
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A large portion of all pharmaceutical formulations available in the market are counterfeit. The current market size of counterfeit drugs is more than US$ 82 bn. This poses a threat to the global pharmaceutical market. The counterfeited pharmaceutical products affect both, i.e. patients as well as pharma companies with their brand reputation. More than 30% of total pharmaceutical products in developing markets are counterfeited and approximately 16% drugs sold across several sales channel in developed markets are fake. The rampant counterfeiting of drugs has pushed pharma producers to opt for secure solutions. Anti-counterfeiting packaging is one of the measures that pharma majors are relying on. Pharmaceutical companies have been incorporating anti-counterfeit solutions with their product packages; of these, hologram, barcode, and water is common and considered as a conventional option for the same. However, with advancement in technology, pharmaceutical manufacturers are also integrating new and innovative options with conventional solutions such as integrating authentication overt features with covert elements, forensics, and track & trace elements. These measures have translated into fruitful results for pharmaceutical companies and tier II pharma companies also prefer similar approaches. These effective measures considered by pharma companies resulted in the sudden increase in demand for anti-counterfeit pharmaceutical packaging across the globe.
Manufacturers of pharma products certainly play an important role in maintaining the product authenticity and checking counterfeiting. However, over the past couple of years, the industry has witnessed substantial contribution from other supply chain stakeholders. Manufacturers largely advocating the role of repackagers, wholesaler and distribution and including these nodes of supply chain under accountability perspective.
Repackaging pharmaceuticals companies suffice a wider need of drugs and hence can not be eroded from the industry. The FDA, akin to pharma manufacturers, also regulate pharma repackagers which purvey dealing with lot & batch numbers and expiration date information of pharmaceutical drugs. Furthermore, repackagers of pharma products must adhere to the Good Manufacturing Practices (GMP) guideline by the FDA an are also categorized under state licensing controls and inspections, particularly in the US.
With the increase in reported cases of illicit drug channeling into the mainstream market, it became critical to integrate repackagers, wholesalers, and distributors with the anti-counterfeiting technology. For instance, if a pharma product has been packaged with tamper proof packaging, repackagers need to repack the package with new tamper proof packaging. This has created an additional demand for anti-counterfeit pharmaceutical packaging solutions in the market, apart from traditional buyers, i.e. pharma producers. Moreover, the trend is prominent for developed markets but has not picked up in high potential but relatively less matured markets such as China and India. Demand for anti-counterfeit packaging technology is likely to rise significantly from other stakeholders of the pharmaceutical supply chain across the globe.
Anti-counterfeit features primarily enable the authentication of an item, either by industry investigators or by the wide public. A security device alone does not reduce the risk of counterfeit, but it is designed to make them easier to detect. Anti-counterfeit product offerings are available in a wide range in terms of price and complexity; however, a system-wide implementation may not be feasible for a developing country. The cost involved in implementing the anti-counterfeiting technology is high. Due to the high cost of implementation of anti counterfeit technology, manufacturer ignore the safety and security of product and decide on cost saving. It is unlikely that any one solution would be appropriate for all applications, as the cost may not be affordable in developing markets. The high cost of RFID may hamper companies from implementing anti-counterfeiting measures.
This market intelligence report on the global Anti-counterfeit Pharmaceutical Packaging Market encompasses market segments based on usage features, technology and country.
By Usage Features the global Anti-counterfeit Pharmaceutical Packaging Market has been divided into:
v Covert Features
v Overt Features
v Forensic Markers
v Tamper Evidence
v Track & Trace Technologies
ü Identification System
By Technology the global Anti-counterfeit Pharmaceutical Packaging Market has been divided into:
ü Active Tags
ü Passive Tags
ü Semi Active Tags
v Security Inks & Coatings
v Security Printing & Graphics
v Mass Encoding
ü Barcode Application
ü Digital Mass Serialization
ü Digital Mass Encryption
v Others(Electromagnetic, surveillance technologies)
By country/region, the global Anti-counterfeit Pharmaceutical Packaging Market has been divided into:
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
- 3M Track and Trace Solutions
- Avery Dennison Corporation
- Alien Technology
- Authentix, Inc.
- CFC International, Inc.
- Digimarc Corporation
- Impinj, Inc.
- Sicpa Holding
- ATL Security Label Systems
- Applied DNA Sciences
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Anti-counterfeit Pharmaceutical Packaging Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Ø This study offers comprehensive yet detailed analysis of the Anti-counterfeit Pharmaceutical Packaging Market, size of the market (US$ Mn ), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Anti-counterfeit Pharmaceutical Packaging Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Anti-counterfeit Pharmaceutical Packaging caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Anti-counterfeit Pharmaceutical Packaging Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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