Anti-counterfeit Pharmaceuticals And Cosmetics Packaging Market Research, 2030
The global anti-counterfeit pharmaceuticals and cosmetics packaging market was valued at $81.1 billion in 2020, and is projected to reach $182.3 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.
Anti-counterfeit packaging is the process of securing and authenticating products in order to minimize counterfeiting or infringement malpractices.Anti-counterfeit measures are taken by pharmaceuticals and cosmetics & personal care companies to minimize the losses incurred due to counterfeiting and to maintain their brand equity.
Medical and cosmetic products are said to be counterfeited if there are no proper representations such as their identity or their source.Growth in free international trade for import/export of pharmaceutical and cosmetic products coupled with minimal drug regulation has lead to counterfeiting of pharmaceutical and cosmetic products. Thus, in order to minimize the counterfeiting of these packed products, several anti-counterfeit technologies such as overt, covert, and track &trace technologies are used. This factor drives the demand in the global market. In addition, U.S. and other European countries use RFID and 2D barcode in order to prohibit and minimize pharmaceutical and cosmetic packaging counterfeiting, which is another considerable factor that drives the demand of the global market. Moreover, less developed countries are vulnerable to counterfeiting of packed pharmaceutical and cosmetic products. Counterfeited pharmaceutical products and medicines increase the health associated risks that in turn raises morbidity and mortality. This factor is another considerable factor anticipated to drive the demand in the global anti-counterfeit pharmaceuticals and cosmetics packaging market.
However, high cost is required for implementing product identification setups (ground infrastructure). This high cost setup is not always feasible for low cost products. Such factors are not dominant in developed countries such as U.S. and Europe due to favorable government support for ground infrastructure. However, in developing countries such as India, government fails to provide ground infrastructure, such as satellite for real time tracking solutions for companies.
On the contrary, different class of pharmaceuticals and cosmetic products are being counterfeited due to poor regulations, large number of intermediaries involved during supply & packaging, and lack of awareness. In addition, rise in health care cost, globalization trend, and surge in number of deregulations associated with pharmaceutical packed products are anticipated to boost the number of medicine and cosmetic productscounterfeiting. Thus, several new anti-counterfeiting technologies are being used in order to protect and secure pharmaceutical and cosmetic supply chain, which is anticipated to offer new growth opportunities in the global market.
The anti-counterfeit pharmaceuticals and cosmetics packaging market analysis is done on the basis of authentication technology, application, and region. Depending on technology, the market is divided into authentication packaging technology and track and trace packaging technology. The applications covered in the report include pharmaceuticals and cosmetics & personal care. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Impinj Inc., AlpVision, Authentix, Zebra Technologies Corp., U-NICA Solutions AG, Alien Technology Corp., Hague, Prooftag, OpSec., NanoMatriX International Limited.
By Region
Asia-Pacific would exhibit highest CAGR of 10.2% during 2021-2030.
The Asia-Pacificanti-counterfeit pharmaceuticals and cosmetics packaging marketsize is projected to grow at the highest CAGR of 10.2% during the forecast period and accounted for 20% of anti-counterfeit pharmaceuticals and cosmetics packaging market share in 2020. Anti-counterfeit pharmaceuticals and cosmetics packaging market in Asian countries exhibits a faster adoption rate. Emergence of authentication and track &trace technologies encourages pharmaceutical companies to adopt these technologies. For example, Japan‐™s Shiseido began authenticating their cosmetic product line for online sales in Asia. The company uses special packaging to differentiate genuine and fake products among their line of retailers and consumers.
By Technology
Track and Trace Packaging Technology is the most lucrative segment
In 2020, the authentication packaging technology was the largest revenue generator, and is anticipated to grow at a CAGR of 7.8% during the forecast period. Inks & dyes, holograms, watermarks, and taggants are types of authentication packaging technology available in the market. Watermark is an image encoded on packaging surface that carries authentication information in characters or images. This information is revealed under special lighting conditions. Strategic alliance between SussexIM and InkWorks Printers LLC has introduced the novel product packaging option for the cosmetic and personal care industry. This novel type of product security technology has enabled brand engagement for today‐™s virtual customers.
By Application
Pharmaceutical application is projected as the fastest growing segment
In 2020, the pharmaceuticals application was the largest revenue generator, and is anticipated to grow at a CAGR of 8.5% during the forecast period. Pharmaceutical packaging market faces problems as the growth of free drug trading promotes counterfeiting. The pharmaceutical packaging uses variety of technologies such as overt, covert, and track & trace technologies (Bar Code and RFID). Developing countries use track and trace technologies in various food and pharmaceutical companies. Developed countries such as the U.S. have adopted RFID technology for tracking, and European countries have adopted 2D barcode technology for anti-counterfeiting packaging.
IMPACT OF COVID-19 ON THE GLOBAL ANTI-COUNTERFEIT PHARMACEUTICALS AND COSMETICS PACKAGING MARKET
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy across the globe. The global anti-counterfeit pharmaceuticals and cosmetics packaging market has been moderately impacted due to the wake of the COVID-19 pandemic.
- Several law enforcement agencies and several drug suppliers across U.S. are being forced to implement anti-counterfeit packaging technologies in order to tackle fake pharmaceutical products being sold during COVID-19 crisis. In addition, rise in number of counterfeit drug supply is another considerable factor driving the demand of the global market in the pandemic situation.
- For instance, according to report by the International Hologram Manufacturers Association (IHMA), there was steep increase in the number of counterfeit drugs, increase in number of dark web for coronavirus vaccines, and fake vaccination certificates being used. This in turn has augmented the demand for anti-counterfeit packaging market in pharmaceutical sector.
- Moreover, according to Roy Butcher (procurement manager at Southgate Packaging) there was increase in demand for anti-counterfeiting packaging technologies during pandemic that in turn has augmented demand for new technologies during COVID-19 crisis.
- Rise in demand for protecting reputational damage caused to pharmaceutical companies has further increased the adoption and need for anti-counterfeit technologies during packaging of their products. In addition, ability of anti-counterfeit technologies to prohibit and minimize potential consumer health risks is driving the demand of the global market despite of pandemic situation
- In addition, people across the globe are ordering medications on e-commerce platform in order to avoid risk of COVID-19 infections being spread and to avoid unnecessary travel to the pharmacy in the pandemic situation is contributing towards the growth of the global market.
- Over the counter (OTC)drugs and medications are not controlled by key regulation bodies. In addition, people are ordering and using OTC drugs that in turn requires anti-counterfeit packaging technologies in order to avoid fake medications being delivered to the customers. In addition, several key-players in the online platform agencies dealing with sales of pharmaceutical products are experiencing counterfeiting over traditional distribution channels. These all factors are driving the demand for the global anti-counterfeit pharmaceuticals and cosmetics packaging market.
- Several COVID-19 vaccines are being used and transported across different countries is another consider factor that has increased the demand for anti-counterfeit packaging technologies as there is a high risk of counterfeiting of these vaccines and other drugs that are used to tackle pandemic.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the anti-counterfeit pharmaceuticals and cosmetics packaging market analysis from 2020 to 2030 to identify the prevailing anti-counterfeit pharmaceuticals and cosmetics packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the anti-counterfeit pharmaceuticals and cosmetics packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global anti-counterfeit pharmaceuticals and cosmetics packaging market trends, key players, market segments, application areas, and market growth strategies.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market Report Highlights
| Aspects | Details |
 By Technology |
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 By Application |
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 By Region |
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 Key Market Players | Prooftag, OpSec, Zebra Technologies Corp., Hague, U-NICA Solutions AG, Alien Technology Corp., Authentix, NanoMatriX International Limited, AlpVision, Impinj Inc. |
Analyst Review
The global anti-counterfeit pharmaceuticals and cosmetics packaging market is expected to exhibit high growth potential in the upcoming years. Hologram is an effective and efficient anti-counterfeit authentication technology used to minimize the risk associated with counterfeiting. Hologram contains three layered security features and is widely used authentication technology in the global anti-counterfeit pharmaceuticals and cosmetics packaging market. Moreover, hologram offers both overt (first line authentication) and covert (second line authentication) such as scrambled images, microtext, UV-sensitive or other specialized inks. Thus, use of hologram provides effective first line and second line authentication, which in turn manages to minimize the counterfeited packaged products. In addition, several other technologies are being developed in order to increase the efficiency and effectiveness of anti-counterfeit technologies in pharmaceuticals and cosmetic end-use industries. For instance, use of sterilized holograms can play dual purpose i.e., authentication and traceability of packed pharmaceuticals.
Several track and trace technologies are used to minimize the counterfeiting of pharmaceuticals and cosmetic packaging. This unique technology includes attachment of unique identity on the pharmaceutical or cosmetic packaged product during the manufacturing and packaging. Identities such as unique pack coding and others are preserved throughout the supply chain that in turn prevents counterfeiting risks. Automatic authentication methods are now in trend for tracking pharmaceutical drugs. The technologies that are used for real time tracking of drugs include radio frequency identification (RFID) technology, UHF RFID technology, and E-pedigree software. This technology is used with e-Pedigree, supply chain management, reverse logistics, and inventory control. The application of RFID provides tip to toe tracking of pharmaceutical drugs. Pharmaceutical drug tracking has increased due to increased incidences in counterfeited drugs.
Globalization gives rise to more trade across the borders, which creates a loophole for counterfeiters to foster and take advantage of such unmanaged businesses. The manufacturers in such cases are not in a position to track the actual location of their products while they are in transit. This gives rise to a need of efficient supply chain management, which ends at one point i.e. adoption of anti-counterfeiting technology. These are the upcoming trends of Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market in the world
North America is the largest regional market for Anti-counterfeit Pharmaceuticals and Cosmetics Packaging
Pharmaceuticals is the leading application of Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market
The global anti-counterfeit pharmaceuticals and cosmetics packaging market was valued at $81.1 billion in 2020, and is projected to reach $182.3 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030
Impinj Inc., AlpVision, Authentix, Zebra Technologies Corp., U-NICA Solutions AG, Alien Technology Corp., Hague, Prooftag, OpSec., NanoMatriX International Limited are the top companies to hold the market share in Anti-counterfeit Pharmaceuticals and Cosmetics Packaging
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