A report published by Allied Market Research on the anti-counterfeit pharmaceuticals and cosmetics packaging market tells that the market is anticipated to grow at a CAGR of 15.7% from 2015-2020.
Portland, OR -- (SBWIRE) -- 09/15/2017 -- The report provides an analysis of the scope, key findings, Porter's five force's analysis, drivers, restraints, opportunities, and challenges. Further, the market is segmented by the technique used, system, application, and geography. The top companies operating in the market are also detailed in the report.
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The hologram authentication technology sector made up for about 52% market share in 2014 and would continue to be at the forefront until 2020. This is due to varied products and economical pricing. Going further, the E-pedigree authentication technology segment will experience the fastest growth among RFID anti-counterfeit technology market. It is anticipated to grow at a CAGR of 21.5% from 2015-2020.
In 2014, the authentication packaging technology witnessed a prolific growth as compared to track and trace technologies. Nevertheless, the increasing use of track and trace technologies, such as RFID, Barcode, and ePedigree in product tracking and inventory management would surpass the authentication technology segment by 2020. The ePedigree track and trace technique would strengthen its position in the track and trace technology market over the forecast period owing to the mandatory drug safety and authentication regulatory impositions.
The main market restraints include the higher cost of track and trace technology, limited awareness about product security, and complex operational procedures. Nonetheless, active initiatives from anti-counterfeit trade associations and pharmaceutical companies would drive the usage of anti-counterfeit technologies.
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Key findings of the Report:
- In 2014, the ePedigree authentication application accounted for about 12.2% market share in RFID technologies segment and is likely to grow rapidly over the forecast period
- Globally, North America will continue to be at the forefront throughout the forecast period
- The fastest growing region is likely to be Asia-Pacific from 2015-2020