Pharmaceuticals and Food Anti-Counterfeiting Technologies Market Size, Market Share, Application Analysis, Regional Outlook, Growth, Trends, Competitive Scenario and Forecasts, 2012 to 2020

Industry Insights

Counterfeiting enables the user to verify the authenticity of pharmaceuticals & drug products and use disposable procedure to avoid authorization diversion. Pharmaceuticals and foods are protected in such manner that the product package can only be used after defacing or damaging the package. Rising awareness of consumer about counterfeiting and increasing availability counterfeited products in local market are the prime drivers of the global pharmaceutical and food anti-counterfeiting technology market. Continuously increasing government support to eradicate counterfeited products in both developing and developed economies is other supporting factor of growth of this market. The rising demand of advanced technologies such as use of ultra-high RFID tag to trace pharmaceuticals and food products to avoid counterfeiting.

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One of the research results in US declared that due to counterfeiting U.S. losses USD 300 billion worth of revenue every year. It is basically done to avoid fake contents and protect the goodwill of the company owing to counterfeited products affect the brand image and provide poor product quality at the same time. Increasing rate of cheap and poor quality counterfeit products particularly pharmaceutical and food industry is likely to drive the market over the forecast period. Major technologies coupled with anti-counterfeiting market include convert feature enabling, visible feature enabling, forensic, and track & trace technology. Emerging nation consist a large potential market owing to untapped potential customers.

Application Insights

On the basis of technology, the global pharmaceuticals and food anti-counterfeiting technology market is bifurcated into authentication and tracking technologies. Tracking technologies is again segmented into RFID and barcodes. Barcode was...