Anti-Counterfeit Pharmaceutical Packaging Market is anticipated to rise at a value CAGR of 12.35% over 2019-2028. According to a study published by Insure Insights on the Anti Counterfeit Pharmaceutical Packaging Market, it is witnessed that there is a significant increase in the products, labeled with the names of the original and genuine product but is, in reality, a counterfeit product and there has been a remarkable growth in the counterfeiting of Pharmaceutical product and thus is likely to affect the safety and efficacy. The rise in the incidence of counterfeiting of drugs in the pharmaceutical industry is driving market growth.
Top Driver: Rise in the awareness regarding Counterfeit Pharmaceutical products are driving the growth
The increase in the awareness regarding Counterfeit Pharmaceutical products, strict Government regulations in various countries, especially in countries like North America, are driving the market growth of the region. The technological advances in advanced counterfeit technologies and the increase in the R&D investment for these technologies are further driving the market growth. Regulatory body like the FDA & WHO takes appropriate measures to prevent illegal drug channeling and thus is driving the anti-counterfeit pharmaceutical packaging market growth. The growth of the healthcare industry is further boosting the market.
Radio Frequency Identification (RFID) Technology Makes the highest contribution in the Global Anti Counterfeit Pharmaceutical Packaging Market
Based on the technology segment RFID) Technology has obtained the highest growth as it permits the unique identification of each container, boxes tablets strip, and item to be manufactured, shipped and sold, and thus increases the visibility throughout the supply chain. Moreover, Use of RFID helps the health care system by tracking spurious and adulterated drugs.
In terms of the Usage feature segment, Overt Features have obtained the most significant growth in the Anti Counterfeit Pharmaceutical Packaging Market, as it helps in displaying the product information, identifies brand symbols, and transportation details during transportation. It also helps in fast authentication for the sellers, pharmacists, and consumers without any extra tools, they have microscopically small, diffractive structures in the film layers, which make the feature unique and thus achieve a high level of counterfeiting protection.
North America to Rule the global Anti Counterfeit Pharmaceutical Packaging Market due to stringent laws regarding anti-counterfeit activities
North America follows strict laws of the government regarding anti-counterfeit activities; It also has new drug demanding nationwide tracking system for all prescription medicines; there are various regulatory bodies in the U.S. and have developed policies that mandate authentication and traceability to ensure health safety and risk reduction, it also supports the demand of anti-counterfeit pharmaceutical packaging. The advances in RFID technology by the manufacturers are further driving the growth of the market in the region. Moreover, the rise in the R&D investments are further driving the market growth of the region
Strategic collaborations, Mergers and acquisition are the major strategies of the competitors
The key competitors of the global Anti Counterfeit Pharmaceutical Packaging Market are Zebra Technologies, Alien Technology Corp., E.I. du Pont de Nemours and Company, AlpVision, Avery Dennison Corp., SICPA HOLDING SA, Amcor Limited, Authentix Inc., Microtrace, LLC, and Impinj, Inc.
Zebra Technologies: Zebra Technologies is a giant competitor of the Anti-Counterfeit Pharmaceutical Packaging Market; for instance, in the year 2019, Zebra Technologies had announced that it had completed the acquisition of Profitect Inc. This acquisition was made by Zebra Technologies to expand its product portfolio.
Avery Dennison Corporation: Avery Dennison Corporation are popular in the global Anti Counterfeit Pharmaceutical Packaging Market. In November 2019, Avery Dennison Corporation had announced the acquisition of Smartrac’s Transponder (RFID Inlay) Division. The deal was made for €225; the acquisition was made by Avery Dennison Corporation to strengthen its product portfolio with RFID Technology.
Authentix Inc.: Authentix Inc., in April 2019, had announced the acquisition of Security Print Solutions Limited, which is an industry leader in providing high-security print solutions. The acquisition was made by Authentix Inc., to expand the portfolio of security technologies
Scope of the Report
By Usage feature
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