Anti-counterfeit pharma and cosmetics packaging market

Press releaseA report by Allied Market Research forecasts the anti-counterfeit pharmaceutical and cosmetics packaging market to grow at a compound annual growth rate (CAGR) of 15.7 per cent during 2015-2020.

The hologram authentication technology segment accounted for about 52 per cent share in 2014 and would continue to lead the market through 2020, mainly due to varied products and economic pricing, says the report, called Global Anti-Counterfeit Pharmaceutical and Cosmetics Packaging  Market-Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020.

Electronic pedigree (ePedigree) authentication technology would be the fastest growing segment among RFID anti-counterfeit technologies market, estimated to grow at a CAGR of 21.5 per cent during 2015-2020.

Counterfeiting of pharmaceutical and cosmetic products have emerged as a serious concern for the original product manufacturers. Life threatening consequences due to counterfeit pharmaceutical and cosmetics products have increased the risk of losing brand equity and revenue by the manufacturers, which in turn, fuels the demand for anti-counterfeit technologies.

Authentication packaging technology garnered a promising market share as compared to track and trace technologies in 2014. However, the growing adoption of track and trace technologies, such as RFID, Barcode and electronic pedigree (ePedigree), in product tracking and inventory management would surpass the authentication technology segment by 2020, says AMR.

ePedigree and track and trace technologies will consolidate their position in the market due to "mandatory drug safety and authentication regulatory impositions," says the report, which says initiatives from anti-counterfeit trade associations, and pharmaceutical companies will raise awareness and encourage adoption.

On the other hand, factors such as higher cost of track and trace technology, limited awareness about product security, and complex operational procedures will hinder the market growth.

     Want our news sent directly to your inbox?

Yes please 2


Home  |  About us  |  Contact us  |  Advertise  |  Links  |  Partners  |  Privacy Policy  |   |  RSS feed   |  back to top