Industry Insight
Counterfeiting enables the user to verify the authenticity of
pharmaceuticals & drug products and use disposable procedure to
avoid authorization diversion. Pharmaceuticals and foods are protected
in such manner that the product package can only be used after defacing
or damaging the package. Rising awareness of consumer about
counterfeiting and increasing availability counterfeited products in
local market are the prime drivers of the global pharmaceutical and food
anti-counterfeiting technology market.
Continuously increasing government support to eradicate counterfeited
products in both developing and developed economies is other supporting
factor of growth of this market. The rising demand of advanced
technologies such as use of ultra-high RFID tag to trace pharmaceuticals
and food products to avoid counterfeiting.
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One of the research results in US declared that due to
counterfeiting U.S. losses USD 300 billion worth of revenue every year.
It is basically done to avoid fake contents and protect the goodwill of
the company owing to counterfeited products affect the brand image and
provide poor product quality at the same time. Increasing rate of cheap
and poor quality counterfeit products particularly pharmaceutical and
food industry is likely to drive the market over the forecast period.
Major technologies coupled with anti-counterfeiting market include
convert feature enabling, visible feature enabling, forensic, and track
& trace technology. Emerging nation consist a large potential market
owing to untapped potential customers.
Technology Insight
On the basis of technology, the global pharmaceuticals and food
anti-counterfeiting technology market is bifurcated into authentication
and tracking technologies. Tracking technologies is again segmented into
RFID and barcodes. Barcode was the largest market player by revenue in
2013 due to its high market penetration rate in maintaining records in
health and food products, high level of accuracy, comparatively cheaper
than its substitute and easily traceable.
Whereas RFID is expected to witness highest growth rate over the
forecast period owing to rising awareness about usage in tracing
animals, logistics and person. Authentication is sub-classified into ink
and dyes, hologram, taggants and others. Hologram is contributed the
largest revenue in 2013 and anticipated to witness lucrative growth over
the forecast period owing to increasing concern of people about genuine
and authentic products, especially product which are technically
featured like RFID.
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Application Insight
The global market is bifurcated into pharmaceutical and food
products. In anti-counterfeiting, pharmaceutical segment was dominating
the market in 2013. Owing to its high adoption rate of
anti-counterfeiting technologies, high priority to quality and
supporting government regulation in preventing patients for consumption
of low quality drugs. The food segment is anticipated to witness the
fastest growth rate over the forecast period due to increasing awareness
about counterfeiting among manufacturer.
Regional Insight
Geographically, in 2013, North America dominated the market in the
global pharmaceutical and food anti-counterfeiting technology market by
revenue. Strong government backing and presence of sophisticated
healthcare infrastructure is likely to drive the anti-counterfeiting
market in the next seven years. Europe was the second largest market in
2013 owing to increasing pharmaceutical and retail market. Asia Pacific
region is anticipated to be the fast growing market segment over the
forecast period due to huge consumption rate of counterfeit product.
Increasing awareness about counterfeiting, improvement in healthcare
infrastructure and increase in disposable income in developing nations
such as Brazil, China and India are some of the key factors expected to
further fuel the market over the forecast period.
Competitive Insight
Data System International, Sun Chemical, Datamax, Intermec
Technologies, Alien Technology, Inksure Technologies, CFC International,
Unibar Inc., and Impinj Inc. are some of the major market players of
pharmaceutical and food anti-counterfeiting technology market. Firms are
undertaking market strategies and making policies for the development
of their business. The international players are facing tough
competition in the market due to the presence of local players.
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