Proliferation of
cheap but poor quality counterfeit products in the pharmaceutical and food
sector and the resultant losses, are a growing concern, globally. Key
anti-counterfeiting technologies include overt or visible feature enabling,
covert feature enabling, forensic, and track/trace technologies. Counterfeiting
not only leads to huge losses but also negatively affects brand image of
industry operators. According to a recent study by Hexa Research, the global pharmaceuticals and food
anti-counterfeiting market is set to reach more than $160 billion by 2020.
US Food and Drug Administration (FDA), is implementing stringent
anti-counterfeiting regulations and supporting development of anti-counterfeit
devices.
Technological
segmentation of the market includes authentication and tracking technologies.
Tracking technologies can be split into RFID and barcodes. Barcodes offer
advantages like traceability, accuracy and affordability. It was the leading
technology in 2013. RFID will experience exponential growth with a CAGR of
about 20% from the period 2013 to 2020. Authentication is split into inks and
dyes, hologram, taggants, etc. Hologram accounted for the largest market share
in 2013 and will grow at a rate of more than 15.9% from 2013 to 2020.
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Between
pharmaceutical and food applications, pharmaceutical applications accounted for
higher share of anti-counterfeiting products. Pharmaceutical sector places high
value on quality and invests in superior technologies that prohibit patients
from consuming low quality counterfeit products. Governmental regulations also
play an important role in higher demand from pharmaceutical industry. However,
food application is likely to witness fastest growth in the coming years,
primarily due to rising awareness levels amongst market participants.
Backed
by governmental interventions and advanced healthcare infrastructure, North
America, with a market valuation of about $46 billion, was the largest regional
consumer of pharmaceutical and food anti-counterfeiting products in 2012.
Europe was second to North America with a market share of more than 16.8%. Hexa
Research opines that the fastest growth of pharmaceuticals and food
anti-counterfeiting market in future years is likely to come from emerging
economies such as Asia Pacific countries and Latin American countries, among
others. Large scale counterfeiting practices, rising income levels and
healthcare infrastructure developments in emerging markets of India, China and
Brazil will drive this growth. Key players of the global pharmaceuticals and
food anti-counterfeiting industry are Data System International, Sun Chemical,
Datamax, Intermec Technologies, Alien Technology, Inksure Technologies, Unibar
Inc., etc.
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