Anti-counterfeit Pharmaceutical Packaging Market - Key Players, Growth, Analysis, 2016 – 2026
Anti-counterfeit pharmaceutical packaging has comparatively high demand, attributed to increasing demand for safe packaging to combat the illicit drug market. The Mass Encoding Technology segment is estimated to account for a market share of 32.2% in the global anti-counterfeit pharmaceutical packaging market by 2016 end and is expected to witness a further rise of 40 basis points to account for 32.4% by 2026.
Owing to an astonishing CAGR of 13.1%, coupled with the current market share of over 40%, the Track and Trace Technologies segment is projected to be the most attractive segment in the global anti-counterfeit pharmaceutical packaging market over the forecast period.
A slew of restrictive measures to combat the rise of counterfeit medicines is cementing the growth of the global anti-counterfeit pharmaceuticals packaging market
Counterfeit medicines are fake medicines. These may be contaminated or contain wrong ingredients. It is estimated that globally, around 10% - 15% of medicines are counterfeit. This poses a threat to the global pharmaceuticals market. Counterfeit pharmaceutical products affect both, i.e. patients as well as pharma companies with their brand reputation. The rampant counterfeiting of drugs has pushed pharma producers to opt for secure solutions. Anti-counterfeiting packaging is one of the measures that pharma majors are relying on. Pharmaceutical companies have been incorporating anti-counterfeit solutions with their product packages; of these, hologram, bar code, and water is common and considered as a conventional option for the same. However, with advancement in technology, pharmaceutical manufacturers are also integrating new and innovative options with conventional solutions such as integrating authentication overt features with covert elements, forensics, and track & trace elements. These measures have translated into fruitful results for pharmaceutical companies and tier II pharma companies also prefer similar approaches. These effective measures considered by pharma companies resulted in the sudden increase in demand for anti-counterfeit pharmaceutical packaging across the globe.
Track & Trace Technologies segment will be a game changer in the anti-counterfeit pharmaceutical packaging market
Anti-counterfeit pharmaceutical packaging market is segmented on the basis of usage feature as convert features, divert features, forensic markers, tamper evidence and track & trace technologies [sterilisation and identification system]. The track & trace technologies segment is predicted to accumulate US$ 2,742.5 Mn by 2026, registering a substantially surging CAGR of 13.1% over the forecast period with a relatively high value share of more than 40% by 2026. The covert feature segment of the global anti-counterfeit pharmaceutical packaging market was valued at US$ 249.1 Mn in 2015 and is projected to reach a market value of US$ 871.8 Mn by 2026, registering a CAGR of 12.3% during the forecast period. The segment is expected to create incremental $ opportunity of US$ 599.7 Mn between 2016 and 2026.
Browse Market Research Report @ https://www.futuremarketinsights.com/reports/anti-counterfeit-pharmaceutical-packaging-market
Smart technologies to push the anti-counterfeit pharmaceutical packaging market ahead during the forecast period
Anti-counterfeit pharmaceutical packaging is segmented on the basis of technology as RFID [active tags, passive tags, semi-active tags], security inks and coatings, security printing and graphics, hologram, mass encoding [Barcode Application, Digital Mass Serialization, Digital Mass Encryption] and others [Electromagnetic, Surveillance Technologies]. The RFID technology segment of the global anti-counterfeit pharmaceutical packaging market was valued at US$ 331.8 Mn in 2015 and is projected to reach a market value of US$ 1,146.8 Mn by 2026, registering a CAGR of 12.3% during the forecast period. The segment is expected to create incremental $ opportunity of US$ 786.8 Mn between 2016 and 2026.
Big players in the segment are all set for an African safari
On the basis of region, North America region is projected to remain dominant in the global anti-counterfeit pharmaceutical packaging market throughout the forecast period. North America was the largest market for anti-counterfeit pharmaceutical packaging, accounting for over 34.0% share of the global market in terms of revenue in 2015. Growth is primarily attributed to North America being the largest pharmaceuticals and biologics research hub, which exports bio-pharma products across all geographies. Furthermore, companies are making significant investments in R&D which is likely to boost growth of the pharmaceutical sector in the region.
Latin America is projected to be the fastest-growing market over the forecast period, with a CAGR of 12.7%. In MEA region the changing economic profile of Africa is influencing local as well as international players to expand in the region. The anti-counterfeit pharmaceutical market in the Middle East & Africa is estimated to expand at a fast-paced CAGR of 11.5% by 2026 owing to the growth in the economy of the region.
3M Track & Trace Solutions and Avery Dennison to lock horns to earn the major share of the market
Some of the major players in the industry such as 3M Track & Trace Solutions are predicted to squash out other contenders and will dominate almost 4.5% share of the entire market. Though Avery Dennison and Sicpa Holdings will give tough competition to the projected market leader during the projection period. This massive and fragmented market is packed with competitors who are offering anti-counterfeit pharmaceutical packaging. In the present scenario targeted companies are likely to cover 12% of the market share and the rest will contribute to 82% of the global anti-counterfeit pharmaceutical packaging market.
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