Pharmaceuticals and Food Anti-Counterfeiting Technologies Market

Report Overview

The global pharmaceuticals and food anti-counterfeiting technologies market was valued at US$ 172.91 billion in 2021 and is expected to witness a CAGR of 7.9% during the forecast period from 2022 to 2030.

Market Fundamental 

Counterfeit medicines are produced by contaminating or employing incorrect chemicals that contain no active substance. These medications are prohibited as they pose serious health concerns. Thus, anti-counterfeiting technologies have become essential in identifying counterfeit pharmaceuticals. These technologies are widely used in the pharmaceutical industry to avoid serious public health risks. Factors driving the growth of the global pharmaceutical anti-counterfeiting technologies market include an increase in the availability of counterfeit medications and government attempts to raise awareness about phony medicines.

Additionally, anti-counterfeiting protects goods and products against being tampered with, copied, and duplicated at a lower cost. Counterfeiting is the illegal manufacture and sale of products that do not contain the authorized trademark, including their markings and packaging. Many anti-counterfeiting packaging solutions have been implemented to safeguard brands and provide consumers with original and genuine items to prevent counterfeiting. Many technologies, such as barcodes, holograms, and RFIDs, have found use as anti-counterfeiting measures. Increasing government regulation and rising customer demand for unique products are projected to drive the expansion of the anti-counterfeit packaging industry.

Furthermore, Overt and covert packaging are two commonly used types of anti-counterfeit packaging. These solutions reduce overall economic loss by minimizing the counterfeiting of trademarked items and ensuring that consumers receive genuine products. Anti-counterfeit packaging is commonly utilized in the cosmetics, personal care, healthcare, and pharmaceutical industries.

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Market Dynamics 

Many industrial companies and regulatory authorities have introduced anti-counterfeit technologies in recent years across practically every industry. The primary global drivers are the expanding legal context for preserving the authenticity of life-critical products, technology improvements in enhancing anti-theft measures, the rising diversity of ongoing threats, and the necessity for brand protection. Silicon dioxide-based tags are utilized since the US Food and Drug Administration has approved them as generally considered safe (GRAS) and appropriate for human consumption. Anti-counterfeiting procedures are critical in safeguarding the brand value of any product. For these reasons, companies of all sizes, large and small, have invested substantially in anti-counterfeiting systems. Consumers' growing safety concerns are prompting organizations to provide proper authentication and anti-counterfeit technology. With the proliferation of easily accessible and low-cost forgery technologies, packaging companies are turning to authentication technology to protect against financial losses and brand damage. Rising concerns about human health as counterfeit medications infiltrate pharmacies have harmed the pharmaceutical industry, necessitating the development of sophisticated anti-counterfeit technologies. However, a lack of awareness about anti-counterfeiting solutions in emerging economies is expected to limit the pharmaceuticals and food anti-counterfeiting technologies market growth. In contrast, technological improvements in pharmaceutical anti-counterfeiting technologies are expected to provide attractive potential for market expansion.

Market Ecosystem

The global pharmaceuticals and food anti-counterfeiting technologies market has been analyzed from three perspectives: Application, Technology, and Region.

Pharmaceuticals and Food Anti-Counterfeiting Technologies Market by Application

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Based on application, the global pharmaceuticals and food anti-counterfeiting technologies market into food and pharmaceuticals. The pharmaceuticals segment dominated the market during the forecast period. High adoption rates of anti-counterfeiting technologies in the pharmaceutical industry due to the importance of quality in this industry and the widespread presence of safety norms and regulations implemented by organizations such as the United States Food and Drug Administration to reduce the consumption of low-quality generic drugs. However, the food anti-counterfeiting technologies market is predicted to develop at the fastest CAGR throughout the forecast period due to rising consumer awareness and the presence of an ever-improving infrastructure supporting the application of these technologies, particularly RFID and bar codes.

Pharmaceuticals and Food Anti-Counterfeiting Technologies Market by Technology

Based on technology, the global pharmaceuticals and food anti-counterfeiting technologies market into authentication, inks and dyes, holograms, watermarks, taggants, others, trace and track, bar codes, RFID. The bar codes segment dominated the market during the forecast period. The presence of high market penetration rates of this technology in the drugs and food industries, particularly in the packaging and inventory management facets, as well as the high accuracy and traceability features exhibited by this technology, are some of the drivers responsible for its largest market share. Furthermore, the fact that bar code-based anti-counterfeiting technology is less expensive than its internal equivalent - "RFID-based technology" - serves as a driver in this market.

Pharmaceuticals and Food Anti-Counterfeiting Technologies Market by Region

Based on region, the global pharmaceuticals and food anti-counterfeiting technologies market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the market during the forecast period due to the rapid development of application industries, which is projected to drive the region. Furthermore, the business is likely to expand as a result of growing worries about the harm caused by the creation of forged items. The large base of the pharmaceutical industry in the United States, combined with the presence of large pharmaceutical manufacturers, is predicted to increase demand for such packaging during the next nine years. Furthermore, rising demand for track and trace technology devices to protect alcoholic beverages is likely to boost the market growth.

During the projection period, Asia Pacific is expected to grow fastest. Because of high counterfeit product consumption rates in China and India, as well as rapidly increasing healthcare and technology infrastructure in these countries, this market is predicted to rise at a CAGR. Furthermore, the entry of an increasing number of global market players into this region to capitalize on available opportunities would accelerate market expansion by improving market penetration rates of anti-counterfeiting technology.

Competitive Landscape 

Some of the global pharmaceuticals and food anti-counterfeiting technologies market include 

• Inksure Technologies
• Sun Chemical
• CFC International
• 3M Company
• Data System International
• Unibar Inc.
• Datamax
• Intermec Technologies
• Impinj Inc.
• Hologram Industries
• Alien Technology
• SML Group
• Zebra Technologies
• Sato Holdings Corporation
• SAVI Technology, Inc.

These top market players have pursued a variety of tactics, including M&A, R&D investment, collaborations, partnerships, regional business development, and new product launches.

Strategic Developments 

• In January 2022, McGavigan Holdings Ltd. was acquired by CCL Industries for its CCL design business. McGavigan Holdings Ltd. is a privately held company that manufactures in-mold components for the automotive industry.
• In August 2021, Avery Dennison Corporation announced the acquisition of Vestcom, a major producer of labeling solutions.
• In July 2021, Strategic IP Information Pte Ltd, Asia's premier online brand and content rights protection service, was bought by Authentix (SIPI). This strategic purchase broadens Authentix's digital security technology portfolio to encompass online anti-counterfeiting and content rights solutions, broadening the range of products for our brand protection clients.
• In June 2021, OPTEL introduced OPTEL IdentifAI, the market's most advanced product authentication system. With this launch, the corporation can verify its items while causing minimal disruption to its manufacturing and packaging processes. Consumers may scan things with a mobile device to ensure they receive what they paid for.

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