Anti-counterfeit Pharmaceutical Packaging Market Report, by Usage Feature (Covert Features, Overt Features, Forensic Markers, Tamper Evidence, Track & Trace Technologies (Serialization, Identification System)), By Technology (RFID (Active Tags, Passive Tags, Semi Active Tags), Security Inks & Coatings, Security Printing & Graphics, Hologram, Mass Encoding (Barcode Application, Digital Mass Serialization, Digital Mass Encryption), Others (Electromagnetic, surveillance technologies)) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Published In : Dec 2019

Code : CMI865

Pages :120

Formats :

Excel and PDF

Industry : Packaging

Market Challenges And Opportunities

Drivers:

The growth of the anti-counterfeit pharmaceutical packaging can be attributed to the rising need for safe pharmaceutical drug packaging owing to growing number of counterfeit products, which can affect both the reputation of pharma companies as well as the health of the patients. According to the World Health Organization, 1 in 10 medical products in developing countries is falsified or substandard. The personal and public health tolls are huge, as is the economic burden - up to $200 billion annually.

Increasing implementation of policy and regulations for anti-counterfeiting packaging to avoid the tampering or the counterfeiting of packaged original and branded drugs is projected to foster the market growth of anti-counterfeit pharmaceutical packaging. On March 21, 2016, FDA issued more than 1,300 letters to medical practices in the United States that purchased unapproved prescription drugs and/or injectable devices from TC Medical, an unlicensed supplier that distributed counterfeit Botox found in the United States.

Market Restraints

The implementation of anti-counterfeiting technology is expensive, due to which the small manufacturers ignore the safety of the drug. This is expected to hamper the market growth of the anti-counterfeit pharmaceutical packaging.

The increase in number of instances where the patients do not consult doctor before purchase of medicines is directly promoting counterfeit drugs. According to the American Society for Microbiology, five percent of adults from a cohort of 400 people reported using antibiotics without a prescription during the previous 12 months. This is likely to adversely impact the market growth.

Market Opportunities

Growing demand for high-value life-saving drugs is expected to promote the counterfeit market, which in turn opens the opportunity for anti-counterfeit techniques for life-saving drugs. Therefore, the rising demand for life-saving drugs is expected to fuel the market growth of anti-counterfeit pharmaceutical packaging. It is estimated that 342 people die every day in North America due to poor life-saving medication adherence.

Figure 2. Global Anti-Counterfeit Pharmaceutical Packaging Market- Opportunity Analysis

Asia Pacific region is expected to show lucrative growth opportunities for the anti-counterfeit pharmaceutical packaging market due to the booming pharmaceutical industry and less government policies, which allows the drug stores to sell pharmaceuticals without registration. According to the Pharmaceutical Security Institute, Asia accounts for the largest share of counterfeit drugs in the world. Furthermore, China and India are the biggest drug manufacturers, so counterfeit drugs could potentially cause problems for this populous region.