Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1918
Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market size will witness a substantial growth due to increasing awareness among consumers and manufacturers towards the side effects of fake goods. Growth in international free trade and inadequate drug regulation has led to an expansion of counterfeit drugs globally. Technologies including track and trace have been launched to avoid imitation of the products.
This technology has emerged as one of the best ways to prevent forged good manufacturing in the cosmetics segment. Emerging technologies that includes authentication, RFID and serialization has encouraged the anti-counterfeit pharmaceuticals and cosmetics packaging market. Imitation can be done in the product, container, labelling or packing. It can apply both on generic as well as branded products.
The government regulation against forged goods is driving the demand for anti-counterfeit pharmaceuticals and cosmetics packaging market. Stringent government regulations regarding usage of barcodes and advance packing by manufacturers is projected to fuel industry demand.
The supply chain of anti-counterfeit pharmaceuticals and cosmetics packaging market begins from medicine and cosmetic product manufacturers. The security of the products can be strengthened by innovative packing and removal of intermediaries. The anti-counterfeit measures include methods, techniques and devices that aid to the protection of product while moving it from factories to the final customer.
The challenges that the anti-counterfeit pharmaceuticals and cosmetics packaging market is facing includes poor regulation, higher number of intermediaries and lack of awareness. High cost of the technology, and impact on the products supply chain are some the factors that is restraining the growth of the technology. The changing trend in the beautifying industry from branded products to monotonous skin care products that are sold across the native places has increased the risk of imitated goods.
The anti-counterfeit pharmaceuticals and cosmetics packaging is available in several forms based on the technology used, that includes, track and trace, RFID, serialization, authentication and barcodes. On the basis of application, the technology is used in pharmaceutical and cosmetic industries.
Asia Pacific, led by India, China and Japan will witness descent growth in anti-counterfeit pharmaceuticals and cosmetics packaging market. According to the notice issued by directorate general of foreign trade, all the exported goods in India will be tracked and traced using barcodes. This will help in identification of forged material in the slot.
MEA is the fastest growing economy for anti-counterfeit pharmaceuticals and cosmetics packaging market in beauty and personal care products. Rise in the beauty and personal care industry will increase the chances of forged goods that will help the anti-counterfeit pharmaceuticals and cosmetics packaging market to grow.
North America, led by the U.S. will witness subsequent growth in the anti-counterfeit pharmaceuticals and cosmetics packaging market. Increase in the pharmaceutical industry will drive the demand for the technology as the region alone holds over 40% of the market worldwide. It is hosting major companies that includes Johnson & Johnson, Pfizer and Merck. Besides, this region has always been a pioneer in medical research and development that will provide support to the product demand.
Key players in the anti-counterfeit pharmaceuticals and cosmetics packaging market includes Alien Technology, AlpVision, Flint Group, Pharma Secure, Sicapa, Authentix, Zebra Technology, Inksure, Impinj, Bayer and Avery Dennison. In July 2016, AlpVision signed a distribution contract for its cryptoglyph technology with a Japanese IT firm, ISID. The agreement is for packing of goods. In the partnership, the companies not only hope to respond to the increasing number of forged products, but even for fake medicine, particularly those sold on the websites that are operated by foreign drug vendors located in Singapore and Hong Kong. The companies are even planning to expand their share and brand image in other countries of the world.
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