Global Pharmaceuticals and Food Anti-Counterfeiting Market to 2014 to 2020 - Industry Applications

San Francisco, January 29, 2014 – The global pharmaceuticals and food anti-counterfeiting market is expected to reach USD 160.32 billion by 2030, according to a new study by Grand View Research, Inc. The rise in the consumption of counterfeit products and the implementation of strict regulations pertaining to anti-counterfeiting by the U.S. FDA are two of the primary growth drivers of this market. Moreover, anti-counterfeiting initiatives undertaken by manufacturers to curb revenue and brand image losses, the introduction of technological advancements such as ultra-high RFID tags and the high scale of counterfeiting in rapidly growing economies such as Brazil, India, China and Russia will serve this market as drivers.

RFID based pharmaceuticals and food anti-counterfeiting technologies are expected to be the most attractive markets and are estimated to grow at a CAGR of approximately 20% from 2013 to 2020. Its ability to reduce costs associated with food and drug recalls, track products along the supply chain and provide real time access to drug and food packaging is one of the factors attributing to its high CAGR. Moreover, unique EPC (electronic product code) inscribed on a RFID chip significantly reduces the chances of counterfeiting.

The report “Pharmaceuticals and Food Anti-Counterfeiting Technologies Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/pharmaceuticals-and-food-anti-counterfeiting

Further Key findings from the study suggest:

North America dominated the market in terms of revenue share in 2012. Its market share was valued at over 60% in 2012 on account of drivers such as the presence of high customer awareness levels and the high market penetration of anti-counterfeiting technologies especially RFID and bar code technologies. However, the abundant presence of future growth opportunities in...