Global Counterfeit Drug Detection Device Market Size, Trends, In-depth Analysis, Research Report Forecast up to 2027: Key Players are Consumer Physics and Olympus Corporation.

Global Counterfeit Drug Detection Device Market is expected to grow at a CAGR of 6.62% to reach a market size worth US$1,437.771 million by 2027.

The prime factors propelling the growth of the counterfeit drug detection device market are the rise in awareness of the negative consequences of consuming counterfeit pharmaceutical products and the rapid evolution of counterfeit drug detection technology.

The counterfeit drug detection device market is expected to grow at a modest pace during the forecast period.

The products that are effective and efficient at spotting poor grades, low quality, and duplicate pharmaceutical pharmaceuticals on the market are known as counterfeit drug detection devices and products. The market demand for counterfeit drug detection devices is expected to increase for the forecast period due to the developing improvements in counterfeit drug detecting technology and the increasing concerns about the consumption of counterfeit and fake drugs contributing to the global increase in fatalities and deaths. The increase in penetration of counterfeit drugs into the market is posing a threat to public health on an international scale. It is resulting in increasing complexities in determining the scope of the issue. The WHO estimates that 10% of the world's pharmaceutical market is contributed by counterfeit medications, whereas, in certain nations, the market share of fake drugs in the pharmaceutical market has reached 30%. Strict regulatory frameworks and policies in countries such as Australia, Canada, and several EU nations have limited the presence of counterfeit drugs in the market to 1%.

Due to the increasing internet usage and penetration around the world, drug counterfeiters can access global markets. According to the data and statistics provided by the World Health Organization, there are several illegal websites present on the internet with covert physical addresses as a disguise to facilitate up to 50% of the counterfeit drugs trade. As a result, there is a rise in general and fatal diseases and the consequent loss to pharmaceutical businesses due to the consumption of uninformed fake pharmaceuticals in low- and middle-income nations.

The constant investment in counterfeit drug detection technology further stimulates the market. For instance, scientists in the European Union received funding to develop a tool for the border and airport detection of fraudulent pharmaceuticals. To construct the prototype, quadrupole resonance (QR) spectroscopy was used in the CONPHIRMER project, which stands for Counterfeit Pharmaceuticals Interception utilizing Radiofrequency Methods in Real-Time. This method uses radio frequency (RF) to excite and detect certain atoms, such as the active pharmacological components found in genuine and authentic medications. The team developed a library of specific fake medications and associated API-based QR fingerprints. In addition, the researchers used numerous RF pulse sequences to compare the QR responses of various medications with various APIs. Therefore, technological development and rising health concerns over counterfeit drugs will propel the growth of the counterfeit drug detection market over the forecast period.

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The counterfeit drug detection device market has been segmented into types of modalities, product types, end-users, and geographical regions.

By modality, the market has been classified into portable, hand-held, and bench-top devices.

Depending on the product type, the division has been done into RFID analyzers, scanning and imaging systems, chromatographs, spectrometers, and spectroscopes.
The segmentation has been done by end-users into drug testing laboratories, research organizations, and pharmaceutical companies.

By region, North America is predicted to hold a sizable market share due to strict laws preventing the introduction of fake pharmaceuticals, followed by the European region. On the other hand, the Asia Pacific region is predicted to have the fastest growth due to the presence of market participants who produce drug testing devices there.
The key players in the counterfeit drug detection device market are Spectris, Spectral Engines Oy, Consumer Physics, Olympus Corporation, Stratio, Inc., Rigaku Corporation, and Thermo Fisher Scientific Inc.

This Global Counterfeit Drug Detection Device Market has been analyzed into the following segments:

• By Modality

o Portable Devices
o Hand-Held Devices
o Bench-Top Devices

• By Product Type

o RFID Analyzer
o Scanning and Imaging Systems
o Chromatographs
o Spectrometers
o Spectroscope

• By End-User

o Pharmaceutical Companies
o Drug Testing Laboratories
o Research Organizations
• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others

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