Pharmaceutical Anti-counterfeiting Technologies Market Improvement Stages & Business Strategy: Alien Technology, Alpvision, Robert Bosch GmbH, 3M Company, Angstrom Technologies, Thermo Fisher Scientific

Pharmaceutical anti-counterfeiting technologies market is majorly driven by the increasing incidence of counterfeiting medicines affecting patient health and overall human capital. According to the International Trade Administration Top Market Reports on Pharmaceuticals published in 2016, the global market for counterfeit drugs valued at number of US$ 75 - 200 billion, which is a serious threat to the health of people worldwide. In 2017, the Pharmaceutical Security Institute (PSI) report stated a rise in drug diversion incidents around the world, which includes diversion of medicines supplied for compassionate use.

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Moreover, serious health incidence or eventual death due to the consumption of counterfeit drugs are major factors increasing the demand for anti-counterfeiting technologies, which would propel growth of pharmaceutical anti-counterfeiting technologies market. According to the estimate by the International Criminal Police Organization, (Interpol) counterfeit drugs causes more than 1 million death every year. Increasing intervention by government and other health authorities such as WHO, OECD, and Interpol to tackle the problem of counterfeit drugs is also expected to drive growth of pharmaceutical anti-counterfeiting technologies market size over the forecast period.

For instance, the European Union launched EU Falsified Medicines Directive to control the volume of counterfeit drugs. Launch of new and innovative platforms in anti-counterfeiting technologies is another major factor driving growth of the market, as it results in more resilient technology at lower cost and provides high protection to the medicines. For instance, in 2017, Clariant introduced Plastiward system, which uses covert taggants developed by SICPA SA to supply an integrated plastic-based anti-counterfeiting technology that can be used in pharmaceutical packaging.

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They applied DNA technologies to develop signature molecular tracking system, which can be used in the tracking and tracing of legal cannabis for medical use. Other emerging technologies such as DNA based technology and intelligent packaging (printed electronics, micro sensors, Iot) would be commercialized in the near future.

Key players operating in the pharmaceutical anti-counterfeiting technologies market include Alien Technology, Alpvision, Robert Bosch GmbH, 3M Company, Angstrom Technologies, Thermo Fisher Scientific, Authentix, Inc., Avery Dennison Corporation, Colorcon, Covectra, and Everest Holovisions Ltd.

Major players are adopting strategic collaborations and launching new products, in order to retain their position in the market. Daily Wellness Company chose TruTag’s platform for its nutraceuticals and health products, in which products would be tagged to allow detection and authentication throughout the supply chain. The company collaborated with Sumitomo Corporation in the U.S. to invest and develop its technology for pharmaceutical industry. In May 2017, Alien Technology launched the ALR-F800-X with Emissary, which would simplify RFID reader infrastructure, installation, operations, and maintenance.

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Market Taxonomy

On the basis of product type, the global pharmaceutical anti-counterfeiting technologies market is segmented into:

RFID
Bar coding
QR Coding
Holography
Security Ink
Taggants
Others
On the basis of technology, the global pharmaceutical anti-counterfeiting technologies market is segmented into:

Overt Technologies
Cohort Technologies
Forensic Technologies
Track and Trace Technologies
Others
On the basis of geography, the global pharmaceutical anti-counterfeiting technologies market is segmented into:

North America
Latin America
Europe
Asia Pacific
Middle East
Africa

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This release was published on openPR.