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Global Anti-counterfeit Pharmaceutical Packaging Market to Surpass 7128.7 Million Units by 2027 – Coherent Market Insights

December 20, 2019 GMT

SEATTLE--(BUSINESS WIRE)--Dec 20, 2019--

Anti-counterfeit pharmaceutical packaging is a type of packaging the pharmaceutical products with the objective of protecting the brand value and identifying the original drug. Some of the major anti-counterfeit pharmaceutical packaging solution are RFID, active tags, passive tags, semi-active tags, security inks & coatings, security printing & graphics, hologram, and mass encoding.

The global Anti-counterfeit pharmaceutical packaging market accounts for 2450.4 Million Units in terms of volume by the end of 2018 and is estimated to grow with a CAGR of 12.7% by 2027.

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Market Drivers:

Increasing demand for safe packaging solutions in the pharmaceutical industry for protecting the brand identity of the original drug is projected to fuel the market growth. In March 2017, Covectra has introduced an anti-counterfeit, tamper-evident, barcode labelling system, StellaGUARD security label. It is embedded with stars arranged in unique and random patterns, and contains a serialised GS1 2D barcode that offer real-time authentication and serialised pedigree tracking with a mobile app.

The launch of new and advanced anti-counterfeit pharmaceutical packaging solutions is also projected to propel the market growth over the forecast period. For instance, in June 2015, Romaco introduced anti-counterfeit blister packs. This solution has been developed as an anti-counterfeit solution for blister packaging. It is ideal solution for pharmaceutical products and meets the EU Falsified Medicine Directive 2011/62/EU.

Market Opportunities

Expanding pharmaceutical supply chain around the globe is expected to offer enormous growth opportunities to the market of anti-counterfeit pharmaceutical packaging. Moreover, the US Food and Drug Administration (FDA) estimates that up to 40% of pharmaceuticals shipped from countries such as Argentina, Colombia, and Mexico may be counterfeit. The FDA is working with pharmaceutical suppliers to keep the US drug supply security in the face of increasing criminal efforts to introduce counterfeit drugs.

Advancement in technology is expected to support the anti-counterfeit packaging market growth. For instance, in April 2016, Spectra launched new anti-counterfeit print technique that gives brands added reassurance with an invisible print technique and this technology can revealed when exposed under ultra violet light.

Market Restraints

The rising number of patients who are self-prescribing the drugs is expected to hamper the market growth of anti-counterfeit pharmaceutical packaging over the forecast period. It is projected that 5% of the U.S. adult is using the medication without any professional prescription. An increase in a number of self-prescribed patients is directly encouraging counterfeiting. Moreover, according to the Consumer Healthcare Products Association for a range of illnesses, 8 in 10 consumers use Over-the-counter medicines to relieve their symptoms without having to see a healthcare professional.

Key Takeaways

Rising initiatives against counterfeiting by various manufacturers in order to protect their brand value is projected to foster market growth over the forecast period. Pfizer, a pharma company, is working with wholesalers, pharmacy community, regulators, and law enforcement agencies around the world — including the FDA, the British Medicines and Healthcare Products Regulatory Agency (MHRA), and the Australian Therapeutic Goods Administration (TGA) — to determine how to best keep the drug distribution system safe for patients.

The increasing trend of product traceability that offers organization entire visibility of the lifestyle drug product and creates true end-to-end supply chain security and authenticity is projected to augment the market growth over the forecast period. For instance, in October 2019, Systech, a provider of digital brand protection and authentication, launched its Systech Brand Protection Suite™ at PACK EXPO Las Vegas. The platform delivers a fully integrated system to combat counterfeiters, solve product diversion and meet regulatory compliance.

Competitive Section:

Players active in the market are 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, and Applied DNA Sciences

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Market Segmentation:

By Usage Feature

By Technology

By Region

 

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CONTACT: Mr. Raj Shah

Coherent Market Insights

1001 4th Ave.

#3200

Seattle, WA 98154

Tel: +1-206-701-6702

Email:sales@coherentmarketinsights.com

KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PACKAGING PHARMACEUTICAL HEALTH MANUFACTURING

SOURCE: Coherent Market Insights

Copyright Business Wire 2019.

PUB: 12/20/2019 11:27 AM/DISC: 12/20/2019 11:27 AM

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