The global anti-counterfeit pharmaceutical packaging market is expected to grow on an opulent note at the rate of 8.4% between 2022 and 2027. It could reach US$ 149.1 Billion by the year 2027.
Due to growing worries about fake medications, the anti-counterfeit pharmaceutical packaging market has grown significantly in recent years. The World Health Organisation (WHO) estimates that about 10% of medical items in use in low- and middle-income nations are fake, posing a serious risk to patient safety. Pharmaceutical businesses are addressing this issue by implementing anti-counterfeit packaging technologies to defend the public’s health and secure their products.
Counterfeit pharmaceuticals are fraudulent medications that are intentionally mislabeled, contaminated, or contain inactive or incorrect ingredients. These counterfeit drugs can lead to severe health risks, treatment failures, and even loss of life. To combat this, the anti-counterfeit pharmaceutical packaging market has gained prominence as an essential component in maintaining patient safety.
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The Market Landscape of Anti-counterfeit Pharmaceutical Packaging
The Anti-counterfeit Pharmaceutical Packaging Market is experiencing rapid growth, driven by the increasing adoption of anti-counterfeit measures in the pharmaceutical industry. Here are some key market insights:
- Market Size and Growth: The global anti-counterfeit pharmaceutical packaging market is projected to reach a value of $5.28 billion by 2027, growing at a CAGR of 12.4% from 2021 to 2027. This growth is primarily attributed to the rising prevalence of counterfeit drugs and the implementation of stringent regulations by regulatory authorities.
- Technological Innovations: The market is witnessing significant advancements in anti-counterfeit packaging technologies. These innovations include the use of holograms, tamper-evident seals, unique identification codes, RFID tags, and track-and-trace systems. These technologies provide enhanced security and enable real-time tracking of pharmaceutical products throughout the supply chain.
- Regional Market Dynamics: North America currently dominates the anti-counterfeit pharmaceutical packaging market, owing to the stringent regulations and the presence of key market players in the region. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing pharmaceutical production and the need to combat counterfeit drugs in emerging economies.
Developing Economies to Hold Promising Investment Opportunities during the Forecast Period
China & Japan cumulatively account for more than half of the total Asia Pacific anti-counterfeit pharmaceutical packaging market. This is accredited to the fastest-growing pharmaceutical market, particularly on the back of increasing number of population, coupled with rising regulations in pharmaceutical sector of China and India. The economical manufacturing environment and developing economy are vital factors driving the anti-counterfeit pharmaceutical packaging market in the APAC region.
Growing penetration of local manufacturers in their respective regions also fuels the anti-counterfeit pharmaceutical packaging market growth in the region. Furthermore, developing economies of Latin America such as Mexico and Argentina are expected to have potential in the anti-counterfeit pharmaceutical packaging market during the forecast period. Illegal sale of pharmaceutical drugs is a growing concern, most particularly in developing countries of Latin America where the lack of healthcare concern forces people to seek cheaper drugs.
This is hamstringing the anti-counterfeit pharmaceutical packaging market growth. In the absence of effective system and regulations, the market of counterfeit drugs and other medical supplies has been increased. Also, semi-legal copying of branded drugs by legitimate local companies would remain a high-profile problem. All these factors will create an impact on the growth of the anti-counterfeit pharmaceutical packaging in the coming years.
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Technologies Revolutionizing the Anti-counterfeit Pharmaceutical Packaging Market
The anti-counterfeit pharmaceutical packaging market is constantly evolving, driven by advancements in technology and the continuous pursuit of enhanced security. Let’s explore some of the cutting-edge technologies making a significant impact in the industry.
1. Near Field Communication (NFC)
NFC is a wireless communication technology that enables the exchange of data between devices in close proximity. In the context of pharmaceutical packaging, NFC tags embedded in packaging materials can store critical information about the product, allowing consumers and healthcare professionals to access details with a simple tap of their smartphones. This technology enables real-time authentication, track-and-trace capabilities, and easy access to product information.
2. Blockchain Technology
Blockchain technology offers a decentralized and immutable ledger system that can significantly enhance the transparency and security of the pharmaceutical supply chain. By recording transactions in a transparent and tamper-proof manner, blockchain ensures the integrity of data related to drug manufacturing, distribution, and authentication. This technology helps in detecting counterfeit drugs and provides a trustworthy system for stakeholders to verify the authenticity of pharmaceutical products.
Some of the key players in the global anti-counterfeit pharmaceutical packaging market are
- Alien Technology
- ATL Security Label Systems
- CCL Industries
- SICPA Holdings
- Schott AG
- Gerresheimer AG
- Klockner Pentaplast Group
- Ardagh Group S.A.
- Nipro Corporation
- Authentix Inc.
- TruTag Technologies Inc.
- Zebra Technologies Corporation
- Alpvision SA
- OpSec Security Inc.
- Savi Technology Inc.
- 3M
- Stevanato Group.
Key Segments Covered in Anti-Counterfeit Pharmaceutical Packaging Industry Research
By Packaging Format :
- Bottles & Jars
- Vials & Ampoules
- Blisters
- Trays
- Pouches & Sachets
- Others (Tubes, Syringes, etc.)
By Printing Technology :
- RFID
- Security Inks & Coatings
- Security Seals
- Holograms
- Mass Encryption
- Barcode
- Mass Serialization
By Adhesion :
- Permanent
- Removable
- Repositionable
By End-application :
- Pharma & Biological
- Medical & Supplies
- Gloves
- Scissors
- Syringes & Needles
- Surgical Tapes
- Others
- Medical Equipment
- Surgical
- Therapeutic
- Diagnostic
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