Deceptive representation of an original pharmaceutical and food product is referred to as counterfeiting. High growth of cheap and low-quality counterfeit products especially pertaining to the pharmaceutical and food industries have accelerated the rate of implementation of anti-counterfeiting technologies. Some of the major technologies associated with anti-counterfeiting include an overt/visible feature enabling, covert features enabling, forensic and track and trace technologies. Research results published by the U.S. FDA suggest that the pharmaceutical manufacturers in the U.S. entail an approximate revenue loss of USD 300 billion every year owing to counterfeiting. Moreover, these counterfeit products score low on quality and therefore affect the brand image of the original manufacturer. Therefore, losses in terms of revenue and brand image incurred by manufacturers coupled with growing awareness levels (pertaining to anti-counterfeiting) of regulatory authorities such as the U.S. FDA is expected to drive the anti-counterfeiting technologies market. Growing demand for advanced technologies such as the ultra-high RFID tags and the abundant presence of untapped opportunities in Asian countries with high counterfeiting occurrences such as China will fuel the future growth of the market. According to estimates published by the World Customs Organization, China accounts for over 70% of the global customs seizures. Furthermore, initiatives undertaken by organizations such as The China Trade Association for Anti-Counterfeiting (CTAAC) and China Anti-Counterfeiting Technology Association (CATA) will open up new avenues for anti-counterfeiting technology manufacturers.
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The global pharmaceuticals and food anti-counterfeiting technologies market was dominated by the bar codes segment in 2012. Some of the drivers responsible for its largest market share include the presence of high market penetration rates of this technology in the drugs and food industries especially pertaining to the packaging and inventory management facets and the high accuracy and traceability features exhibited by this technology. Moreover, the fact that bar codes based anti-counterfeiting technology is cheaper than its internal substitute – “RFID-based technology”, serves this market as a driver. The global bar codes based pharmaceuticals and food anti-counterfeiting technologies market was valued at USD 34.61 billion in 2012. However, the RFID technology market is expected to be a high-growth segment for the anti-counterfeiting technologies market. Exceptional tracing and tracking abilities exhibited throughout the supply chain, growing initiatives were undertaken by regulatory authorities such as the U.S. FDA to endorse RFID as an anti-counterfeit technology and the introduction of technological advancements such as the ultra-high RFID technologies in this segment are some of the factors attributing to its high CAGR. Its market is expected to grow at a CAGR of 19.3% from 2013 to 2020. Holograms are expected to follow the RFID-based anti-counterfeiting technologies in terms of growth rate. Its market is expected to grow at a CAGR of over 16.0% from 2013 to 2020. The facts that holograms follow a simple manufacturing mechanism are more user-friendly and are relatively less expensive than other technologies such as the taggants are some of the drivers of this market.
Pharmaceuticals anti-counterfeiting applications dominated the overall market in terms of revenue share in 2012. Its market was valued at over USD 40.0 billion in 2012. High adoption rates of anti-counterfeiting technologies in the pharmaceuticals industry on account of the high importance of quality in this industry and the extensive presence of safety norms and regulations implemented by organizations such as the U.S. FDA., to curb the consumption of cheap and low-quality generic drugs. However, the food anti-counterfeiting technologies market is expected to grow at the highest CAGR during the forecast period owing to growing awareness levels of manufacturers and the presence of a constantly improving infrastructure supporting the implementation of these technologies especially pertaining to RFID and bar codes. This market is expected to grow at a CAGR of approximately 12.0% from 2013 to 2020.
North America dominated the overall anti-counterfeiting technologies market in terms of revenue share in 2012. The presence of sophisticated healthcare infrastructure easing the implementation of these technologies and the implementation of strict and diligent regulations by the FDA are some of the drivers of this market. The global North American pharmaceuticals and food anti-counterfeiting technologies market was valued at USD 46.61 billion in 2012. Europe followed North America in terms of market share in 2012 at 17.0%. High market penetration of anti-counterfeiting technologies owing to its flourishing retail pharmaceuticals and food market is one of the major factors accounting for its high market share. However, the Asia-Pacific is expected to grow at the fastest rate during the forecast period. This market is expected to grow at a CAGR of over 14.0% from 2013 to 2020 owing to the presence of high counterfeit product consumption rates in China and India and rapidly improving healthcare and technology infrastructure in these countries. In addition, the entrance of an increasing number of global market players into this region in an attempt to capitalize on the available opportunities will propel the growth of this market by elevating the market penetration rates of anti-counterfeiting technologies.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com
To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/pharmaceuticals-and-food-anti-counterfeiting
The global pharmaceuticals and food anti-counterfeiting technologies market was dominated by the bar codes segment in 2012. Some of the drivers responsible for its largest market share include the presence of high market penetration rates of this technology in the drugs and food industries especially pertaining to the packaging and inventory management facets and the high accuracy and traceability features exhibited by this technology. Moreover, the fact that bar codes based anti-counterfeiting technology is cheaper than its internal substitute – “RFID-based technology”, serves this market as a driver. The global bar codes based pharmaceuticals and food anti-counterfeiting technologies market was valued at USD 34.61 billion in 2012. However, the RFID technology market is expected to be a high-growth segment for the anti-counterfeiting technologies market. Exceptional tracing and tracking abilities exhibited throughout the supply chain, growing initiatives were undertaken by regulatory authorities such as the U.S. FDA to endorse RFID as an anti-counterfeit technology and the introduction of technological advancements such as the ultra-high RFID technologies in this segment are some of the factors attributing to its high CAGR. Its market is expected to grow at a CAGR of 19.3% from 2013 to 2020. Holograms are expected to follow the RFID-based anti-counterfeiting technologies in terms of growth rate. Its market is expected to grow at a CAGR of over 16.0% from 2013 to 2020. The facts that holograms follow a simple manufacturing mechanism are more user-friendly and are relatively less expensive than other technologies such as the taggants are some of the drivers of this market.
Pharmaceuticals anti-counterfeiting applications dominated the overall market in terms of revenue share in 2012. Its market was valued at over USD 40.0 billion in 2012. High adoption rates of anti-counterfeiting technologies in the pharmaceuticals industry on account of the high importance of quality in this industry and the extensive presence of safety norms and regulations implemented by organizations such as the U.S. FDA., to curb the consumption of cheap and low-quality generic drugs. However, the food anti-counterfeiting technologies market is expected to grow at the highest CAGR during the forecast period owing to growing awareness levels of manufacturers and the presence of a constantly improving infrastructure supporting the implementation of these technologies especially pertaining to RFID and bar codes. This market is expected to grow at a CAGR of approximately 12.0% from 2013 to 2020.
North America dominated the overall anti-counterfeiting technologies market in terms of revenue share in 2012. The presence of sophisticated healthcare infrastructure easing the implementation of these technologies and the implementation of strict and diligent regulations by the FDA are some of the drivers of this market. The global North American pharmaceuticals and food anti-counterfeiting technologies market was valued at USD 46.61 billion in 2012. Europe followed North America in terms of market share in 2012 at 17.0%. High market penetration of anti-counterfeiting technologies owing to its flourishing retail pharmaceuticals and food market is one of the major factors accounting for its high market share. However, the Asia-Pacific is expected to grow at the fastest rate during the forecast period. This market is expected to grow at a CAGR of over 14.0% from 2013 to 2020 owing to the presence of high counterfeit product consumption rates in China and India and rapidly improving healthcare and technology infrastructure in these countries. In addition, the entrance of an increasing number of global market players into this region in an attempt to capitalize on the available opportunities will propel the growth of this market by elevating the market penetration rates of anti-counterfeiting technologies.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com
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