Anti-Counterfeit Pharmaceutical Packaging Market- Key Research Findings
Key Factors Shaping the Global Anti-Counterfeit Pharmaceutical Packaging Market
Policy and Regulatory Landscape Paving Way for Anti-counterfeit Pharmaceutical Packaging Market
The role of packaging and its synergy with anti-counterfeit technology is one of the key concerns highlighted, which advocates packaging design that fight against illicit usage of packaged generic as well as branded drugs. Several agencies such as FDA & WHO enforces appropriate measures to prevent illegal drug channeling in the market, which tends to drive the anti-counterfeit pharmaceutical packaging market growth.
These efforts encouraged pharma manufacturers to explore new possibilities. The anti-counterfeit pharmaceutical packaging market is responding with positive growth rate, which is likely to continue during the forecast period. For instance,
- 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) in order to fight against counterfeiting of drugs.
Edible Micro Tags in Drugs and Proprietary Reader Technology to Give Impetus
A new innovative technology “micro tag“ have been developed by one of the US-based companies, which is an edible micro tag for identification, authentication, brand protection, and quality assurance of medicines. Each tag contains a unique code that can only be scanned using the company’s proprietary instruments. Such technological advancement continues to create opportunities for the anti-counterfeit pharmaceutical packaging market.
Most of the pharma manufacturers uses mobile phone readable tags technology that is practically impossible to copy and be read by a smart phone. All these factors help in creating demand for anti-counterfeit pharmaceutical packaging products during the forecast period. For instance,
- Realtag, a U.S-based company, have developed this mobile phone readable tags anti-counterfeit pharmaceutical packaging.
However, implementation of high cost anti-counterfeiting technologies in pharmaceutical products might hamper the anti-counterfeit pharmaceutical packaging market growth.Due to this, manufacturers ignores the safety and security of the product and decides on cost saving.
The high cost of RFID may restrict companies from implementing anti-counterfeiting measures. Therefore, it is projected to restrain the anti-counterfeit pharmaceutical packaging market growth.
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Global Anti-Counterfeit Pharmaceutical Packaging Market: Regional Analysis
North America is the largest pharmaceuticals and biologics research hub that exports bio-pharma products across all geographies. Furthermore, companies are making significant investments in R&D, which is likely to boost the growth of the anti-counterfeit pharmaceutical packaging market in the region.
The United States is anticipated to account for approximately 90% of the North America anti-counterfeit pharmaceutical packaging market share in terms of value. The growth is reflected because of the stringent laws regarding anti-counterfeit activities, with new drug demanding nationwide tracking system for all prescription medicines.
Furthermore, the dominance of United States in the anti-counterfeit pharmaceutical packaging market is attributed to increasing preference for advanced and expensive technologies such as RFID by prominent manufacturers. Regularity bodies in the U.S. have developed policies that mandate authentication and traceability as key approaches to ensure health safety and risk reduction which supports demand of anti-counterfeit pharmaceutical packaging.
Anti-Counterfeit Pharmaceutical Packaging Market Structure Analysis
Some pharma companies set up departments whose primary function is to safeguard their brand name from counterfeiting and illicit replication, thereby increasing the demand for anti-counterfeit pharmaceutical packaging Market.
Some of the key players in the global anti-counterfeit pharmaceutical packaging market are Alien Technology, ATL Security Label Systems, CCL Industries, SICPA Holdings, Schott AG, Gerresheimer AG, Klockner Pentaplast Group, Ardagh Group S.A., Nipro Corporation, Authentix Inc., TruTag Technologies, Inc., Zebra Technologies Corporation, Alpvision SA, OpSec Security Inc., Savi Technology Inc., 3M, and Stevanato Group.
Anti-Counterfeit Pharmaceutical Packaging Market: Key Developments
With the advancement in technology, pharmaceutical manufacturers are also integrating new and innovative options with conventional solutions such as integrating authentication and track & trace elements. All these factors supports to increase the demand for anti-counterfeit pharmaceutical packaging products. Tier II pharma companies also prefer similar approaches.
- In Jan 2019, CCL Industries Inc., acquired Hinsit Screen, a Vietnamese company, which is a supplier of durable and tamper evident labels and graphic overlays.
- In 2018, Gerresheimer AG, a manufacturer in anti-counterfeit pharmaceutical packaging industry expanded its production of plastics for the pharmaceutical packaging in China, Brazil, and the U.S. It also established its footprint in Eastern Europe for devices & syringes plant.
- Bottes & Jars
- Vials & Ampoules
- Pouches & Sachets
- Others (Tubes, Syringes, etc.)
- Security Inks & Coatings
- Security Seals
- Mass Encryption
- Mass Serialization
- Pharma & Biological
- Medical & Supplies
- Syringes & Needles
- Surgical Tapes
- Medical Equipment
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa