Counterfeiting of pharmaceutical and cosmetic products have emerged as a serious concern for the original product manufacturers. Life threatening consequences due to counterfeit pharmaceutical and cosmetics products has increased the risk of losing brand equity and revenue by the manufacturers, which in turn, fuels the demand for anti-counterfeit technologies.
Portland, OR -- (SBWIRE) -- 06/28/2018 -- Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market report, published by Allied Market Research, forecast to grow at a CAGR of 15.7% during the period 2015 - 2020. The hologram authentication technology segment accounted for about 52% share in 2014 and would continue to lead the market through 2020, mainly due to varied products and economical pricing. E-pedigree authentication technology would be the fastest growing segment among RFID anti-counterfeit technology market, estimated to grow at a CAGR of 21.5% during 2015-2020.
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Authentication packaging technology garnered a promising market share as compared to track and trace technologies in 2014. However, the growing adoption 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 emerging product tracking technique, "ePedigree track and trace," would consolidate its position in the track and trace technology market over the forecast period. This is due to the mandatory drug safety and authentication regulatory impositions. Factors, such as higher cost of track and trace technology, limited awareness about product security, and complex operational procedures, would hinder the market growth. However, active initiatives from anti-counterfeit trade associations, and pharmaceutical companies would endorse the adoption of anti-counterfeit technologies.
Key finding ofAnti-Counterfeit Pharmaceutical and Cosmetics Packaging Market:
The ePedigree authentication application held market share of about 12.2% in RFID technologies segment in 2014, and is expected to see rapid growth over the forecast period
North America will continue to lead the global market throughout the forecast period
Asia-Pacific is projected to be the fastest growing region during 2015-2020
North America and Europe collectively accounted for most of the market revenue in 2014, thus, are considered as potential regions in the global pharmaceutical and cosmetics anti-counterfeit packaging market.
The Higher adoption rate of traceable technologies by manufacturers and active measures taken by the government, pharmaceutical companies and anti-counterfeit trade associations largely contribute to the growth of the market in these regions. Asia-Pacific would be the fastest growing region largely supplemented by the presence of a large number of pharmaceutical and cosmetics manufacturers.
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Product launch, acquisitions, and collaborations are the key strategies adopted by manufacturers to sustain in the market. Key players profiled in this report are Alien Technology Corp., Alpvision, Zebra Technologies, Inksure Technologies, Avery Dennison, Flint Group, Impinj, Inc., Honeywell (Datamax-O'Neil), Authentix, Inc. and Sicapa.