PHARMACEUTICAL ANTI-COUNTERFEITING TECHNOLOGIES MARKET ANALYSIS

Regional Analysis

Regional Insights

On the basis of region, the global pharmaceutical anti-counterfeiting technologies market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the market due to rising number of counterfeit drugs and stringent regulations related to counterfeit drugs. It is observed that the FDA seized nearly US$ 73 million in counterfeit drugs in the year 2014. Moreover, the opioid addiction has led to increased levels of counterfeit opioids such as fentanyl. The U.S. enacted legislations such as the U.S. Drug Supply Chain Security Act (DSCSA) in 2017 that mandates pharmaceutical manufacturers to identify pharmaceuticals at the unit package level, in order to trace the product within the supply chain. This is done to prevent pharmaceutical product counterfeiting. Moreover, Asia Pacific is expected to witness significant growth in the market over the forecast period due to the maximum number of counterfeit drugs available in this region. According to The World Health Organization (WHO) fact sheet 2017, around 1 in 10 medical products used in low- and middle-income economies are either substandard or falsified and up to 30 per cent of branded drugs sold in these economies are counterfeit. According to the Pharmaceutical Security Institute in 2017, maximum arrest (51%) cases in association with the counterfeiting of pharmaceuticals are observed in Asia Pacific.