Anti Counterfeit Pharmaceutical Packaging Market
Anti-counterfeit Pharmaceutical Packaging Market: Edible Micro Tags in Medicines Mark Prominent Trend: Global Industry Analysis and Opportunity Assessment, 2019 - 2027
- 2019-09-16
- REP-GB-2385
- 19 Tables
- 48 Figures
- 189 pages
-
An Incisive, In-depth Analysis on the Anti Counterfeit Pharmaceutical Packaging Market
This study offers a comprehensive, 360 degree analysis on the Anti Counterfeit Pharmaceutical Packaging market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Anti Counterfeit Pharmaceutical Packaging market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Anti-Counterfeit Pharmaceutical Packaging Market- Key Research Findings
According to Future Market Insights’ latest market report titled “Anti-counterfeit Pharmaceutical Packaging Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2027”, there has been rising awareness towards combating the illicit drug market across the globe. The global anti-counterfeit packaging market was valued at ~ US$ 70 Bn in 2018, which translates into an opportunity worth of ~ US$ 3.5 Bn for anti-counterfeit technology for pharmaceuticals. The global anti-counterfeit pharmaceutical packaging market is estimated to expand at a CAGR of ~ 9% during the forecast period.
Key Factors Shaping the Global Anti-Counterfeit Pharmaceutical Packaging Market
Policy and Regulatory Landscape Paving Way for Anti-counterfeit Pharmaceutical Packaging
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.
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.
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.
Though the tremendous growth of the healthcare industry is paving way for pharmaceutical companies to expand their business across various segments, the rising availability of counterfeit products is incurring an incessant problem for them, causing huge losses every year. Thereby, the importance of anti counterfeit pharmaceutical packaging products has become paramount in this landscape for companies to highlight the genuine products in the market.
Global leaders and top-tiered stakeholders in the anti counterfeit pharmaceutical packaging market are leveraging the recent advancements in technologies such as RFID, for security sealing and mass encryption. Anti counterfeit pharma packaging solution providers are also introducing sustainable and smart, interactive products to offer a ‘green’ prospective while establishing a ‘dialogue’ with consumers through packaging.
Future Market Insights (FMI) recently published a market study on the global market of anti-counterfeit pharmaceutical packaging. The study provides detailed assessment on the key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the anti-counterfeit pharmaceutical packaging market structure. The market study presents exclusive information about how the anti-counterfeit pharmaceutical packaging market will grow during the forecast period of 2019-2027.
Key indicators of the market growth, which include Year-on-Year (Y-o-Y) growth, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in FMI’s anti-counterfeit pharmaceutical packaging market study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the market during the forecast period.
The study is relevant for stakeholders in the anti-counterfeit pharmaceutical packaging market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the anti-counterfeit pharmaceutical packaging market, investors, industry experts, journalists, and business researchers can leverage the information and data presented in FMI’s study.
The study also includes statistics as well as facts related to the macro as well as microeconomic factors that are impacting developments in the anti-counterfeit pharmaceutical packaging market. It also offers actionable insights based on the future trends in the anti-counterfeit pharmaceutical packaging market. Furthermore, small businesses and new entrants in the market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Segments of the Anti-Counterfeit Pharmaceutical Packaging Market
FMI’s study on the anti-counterfeit pharmaceutical packaging market offers information divided into three important segments—packaging formats, technology, end use application and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
|
Anti-counterfeit pharmaceutical packaging formats |
|
|
Technology |
|
|
End Applications |
|
|
Region |
|
Key Questions Answered in FMI’s Anti-Counterfeit pharmaceutical packaging Market Report
- Which regions will continue to remain the most profitable regional markets for anti-counterfeit pharmaceutical packaging market players?
- Which factors will induce a change in the demand for anti-counterfeit pharmaceutical packaging during the assessment period?
- How will changing trends impact the anti-counterfeit pharmaceutical packaging market?
- How can market players capture the low-hanging opportunities in the anti-counterfeit pharmaceutical packaging market in developed regions?
- Which companies are leading the anti-counterfeit pharmaceutical packaging market?
- What are the winning strategies of stakeholders in the anti-counterfeit pharmaceutical packaging market to upscale their position in this landscape?
Anti-Counterfeit Pharmaceutical Packaging Market: Research Methodology
In FMI’s study, a unique research methodology is utilized to conduct extensive research on the growth of the anti-counterfeit pharmaceutical packaging market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusion.
Secondary resources referred to analysts during the production of the anti-counterfeit pharmaceutical packaging market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the anti-counterfeit pharmaceutical packaging market, and makes FMI’s projection on the growth prospects of the anti-counterfeit pharmaceutical packaging market more accurate and reliable.
Anti Counterfeit Pharmaceutical Packaging Market Reports - Table of Contents
16. Assumptions and Acronyms Used
17. Research Methodology
Get in touch
Akshay Godge
Client Partner - Global Business Development
CASE STUDIES
See how our work makes an impact.
At FMI, we design strategies that are adaptive, impactful, and implementable.