Transparency
Market Research Report Added "Anti-counterfeit
Pharmaceuticals Packaging Market". Counterfeiting is
gravely impacting the pharmaceuticals industry by causing substantial
losses in terms of revenue and credibility. Counterfeit
pharmaceutical products, labelled with the names of original and
legitimate product manufacturers are entering local markets globally.
This has become a matter of serious concern for pharmaceutical
companies, and the threat of lawsuits is a constant worry. Players in
the pharmaceutical industry around the globe are increasingly working
on ways to stop counterfeit products from penetrating the markets in
order to prevent negative impact on their sales revenue and brand
image.
Counterfeit
pharmaceutical products are so very well packed that normal
identification techniques are unable to differentiate between
legitimate or original packaging and counterfeit ones. These products
then end up being sent to the retail market for sale. Forged
products, due to sub-standard quality, pose severe health concerns
among consumers, which results in steadily diminishing brand image of
original products. Each year, multi-million dollar losses are
incurred by players in the global pharmaceutical industry due to
presence of counterfeit products in their supply chain.
Pharmaceutical
products are one of the basic needs of consumer and this high need
for medication invariably results in them coming in contact with
counterfeit products due to the abundant availability of such
products in local markets. Anti-counterfeit pharmaceuticals packaging
has emerged as one of the most effective solutions to limit
counterfeiting in the pharmaceutical industry. Growing incidence of
counterfeiting in the pharmaceutical industry is resulting in
increasing demand for anti-counterfeit pharmaceuticals packaging.
This market is expected to expand at a significantly high growth rate
over the forecast period as a result.
Innovation in
anti-counterfeit packaging technology and growing awareness among
end-users are factors attributing majorly to growth of the
anti-counterfeit pharmaceuticals packaging market. Government
regulations in various countries across the globe is prompting
players in the global market to invest more in advanced
anti-counterfeit technologies. Due to these factors, the
anti-counterfeit pharmaceuticals packaging market is expected to
account for substantially high revenue growth over the forecast
period.
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High capital
expenditure of anti-counterfeit technology systems and their impact
on the product distribution system and supply chain network of
companies is making investors a little hesitant to set up
manufacturing plants. These are some of the factors that are expected
to act as restraint to the growth of the anti-counterfeit
pharmaceuticals packaging market over the forecast period.
The global
anti-counterfeit pharmaceuticals packaging market is segmented on the
basis of technology and regions. The technology segment is
categorized into authentication packaging technology and track and
trace packaging technology. The authentication technology is further
sub-segmented into ink & dyes, holograms, watermarks and
taggants. The track and trace packaging technology segment is
sub-segmented into barcode technology and RFID technology.
Geographically, the
global anti-counterfeit pharmaceuticals packaging market is segmented
into seven main regions namely North America, Latin America, Western
Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East &
Africa, and Japan. Due to higher consumer awareness, North America is
expected to hold largest market share in the global anti-counterfeit
pharmaceuticals packaging market, followed by Europe. The market in
Asia Pacific is also expected to grow at a significant rate, adding
more value to the global anti-counterfeit pharmaceuticals packaging
market over the forecast period.
Some Key
Players in the global market
include Zebra Technologies, Alien Technology Corp., AlpVision, Avery
Dennison Corp., SICPA HOLDING SA, Microtrace, LLC, Impinj, Inc. and
others.
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