Anti-Counterfeit Pharmaceutical Packaging Market will worth USD 191.2 billion by 2030 : GreyViews
Anti-Counterfeit Pharmaceutical Packaging Market Size by Product (Overt, Track & Trace, Forensic, and Covert), By Application (Medical & Supplies, Pharmaceutical & Healthcare, Gloves, Syringes & Needles, Surgical Tapes, Scissors, and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the anti-counterfeit pharmaceutical packaging market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the anti-counterfeit pharmaceutical packaging market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global anti-counterfeit pharmaceutical packaging market are Avery Dennison Corporation, 3M Track and Trace Solutions, Alien Technology, CFC International, Inc., Authentix, Inc., Impinj, Inc., Digimarc Corporation, ATL Security Label Systems, Sicpa Holding, and Applied DNA Sciences among others. To achieve a substantial market share in the worldwide anti-counterfeit pharmaceutical packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The increasing awareness among individuals about the unauthorized reproductions of counterfeit products of trademark labels across several industries represents one of the leading factors positively influencing the market, also resulting in a positive outlook for the market due to the increasing use of anti-counterfeiting packaging solutions to reduce economic damages and health risks for consumers. An edible micro-tag has been developed that can be used for identification, authentication, brand protection, and quality assurance. Market sales for anti-counterfeit pharmaceutical packaging are expected to increase with the introduction of this new technology. Due to technological advancements, anticounterfeit pharmaceutical packaging products are poised to be reshaped during the forecast period. As a result of incorporating expensive anti-counterfeiting technology into pharmaceutical products, the growth of the anti-counterfeit pharmaceutical packaging market might be hindered. Since RFID is expensive, companies may be hesitant to implement anti-counterfeiting measures because of the high cost, which affects the market's growth. Since the cost of adopting anti-counterfeiting technology is high, small manufacturers sometimes ignore drug safety. This concerns the pharmaceutical packaging industry since patients are increasingly buying fake drugs without consulting their doctors, which impedes market expansion.
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Scope of Anti-Counterfeit Pharmaceutical Packaging Market Report:
Market Share Unit
Product, Application, and Regions.
North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Avery Dennison Corporation, 3M Track and Trace Solutions, Alien Technology, CFC International, Inc., Authentix, Inc., Impinj, Inc., Digimarc Corporation, ATL Security Label Systems, Sicpa Holding, and Applied DNA Sciences among others
Covert is expected to be the fastest-growing segment in 2022.
The product segment is overt, track & trace, forensic, and covert. The covert segment is expected to witness the highest growth rate during the forecast period. Security labels are expected to become one of the most lucrative covert security approaches because of the high level of product security and the difficulty in forging genuine products. Also, over the next nine years, it is expected that the FMCG goods market will expand due to the increased demand for such products.
Pharmaceutical & healthcare is expected to be the fastest-growing segment in 2022.
The application segment is medical & supplies, pharmaceutical & healthcare, gloves, syringes & needles, surgical tapes, scissors, and others. The pharmaceutical & healthcare segment is expected to witness the highest growth rate during the forecast period. The counterfeit pharmaceutical market is one of the most valuable segments in international commerce of illegally copied goods. Fake medications lead to various harmful effects on health and even death in severe cases of millions of people worldwide. Consequently, this market is growing enormously in the pharmaceutical & healthcare sector due to the significant harm counterfeit products are causing to major pharmaceutical brands.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the anti-counterfeit pharmaceutical packaging market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. Research in pharmaceuticals and biologics is the largest in North America, exporting biopharma products worldwide. Moreover, companies are spending a substantial amount of money on research, likely to boost the growth of the anti-counterfeit pharmaceutical packaging market. Furthermore, the growth is reflected because of stringent laws regarding anti-counterfeit activities and new drug demands for nationwide tracking systems for all prescription medications.
Germany's anti-counterfeit pharmaceutical packaging market size was valued at USD 7.47 billion in 2022 and is expected to reach USD 14.45 billion by 2030, at a CAGR of 8.6% from 2023 to 2030.
As healthcare IT infrastructure advances and virtual care becomes more accessible, the medical tourism market is experiencing major trends and opportunities in the country.
China’s anti-counterfeit pharmaceutical packaging market size was valued at USD 7.74 billion in 2022 and is expected to reach USD 15.3 billion by 2030, at a CAGR of 8.9% from 2023 to 2030. During the forecast period, China is expected to grow the fastest, as consumer awareness of product-related information before direct consumption increases demand for anti-counterfeit packaging.
India's anti-counterfeit pharmaceutical packaging market size was valued at USD 5.96 billion in 2022 and is expected to reach USD 11.7 billion by 2030, at a CAGR of 8.8% from 2023 to 2030. The market for anti-counterfeit packaging in India is growing, in addition to rising disposable incomes, urbanization, and an expanding middle class.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising cases demand for the best and fast medical treatments, propelling the growth of the market across the countries.
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Anti-Counterfeit Pharmaceutical Packaging Market Size By Product (Overt, Track & Trace, Forensic, and Covert), By Application (Medical & Supplies, Pharmaceutical & Healthcare, Gloves, Syringes & Needles, Surgical Tapes, Scissors, and Others), Regions, Segmentation, and Projection till 2030