Pharmaceuticals and Food Anti-Counterfeiting Technologies Market Size, Share, Analysis, Forecasts, 2014 – 2020

The pharmaceuticals and food anti-counterfeiting technologies market would collect incomes worth around USD 160 billion by 2020. This can be attributed to proliferation of cheap and poor quality counterfeit products. Counterfeiting costs U.S. pharmaceutical companies about USD 300 billion each year. It also adversely affects their brand reputation. This has led to stringent regulations by the FDA – Food & Drug Administration, thereby creating higher market demand.

The market is divided as per technologies, applications, and geographies. The technology segments are inks & dyes, watermarks, authentication, holograms, trace & track, taggants, bar codes, RFID, and others. Bar codes, with shares exceeding 44%, were the leader in 2012.

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However, their dominance was threatened by the exceptional growth (at around 19% CAGR during 2013 to 2020) of RFIDs. RFIDs enable excellent tracing and tracking throughout the supply chain. They are therefore endorsed by regulatory authorities.

Technological developments like ultra high RFID technology and its likes are also furthering demand for the pharmaceuticals and food anti-counterfeiting technologies market. Holograms are anticipated to grow at around 17% CAGR over the next seven years. They offer advantages like simple manufacturing mechanism, user-friendliness, and affordability.

Food and pharmaceuticals are the application segments. Pharmaceuticals were the leader in 2012 owing to safety norms and substantial product quality. The U.S. FDA is determined to control the sales of cheap and low quality generic drugs.

Food will grow at the fastest rate (at a CAGR of 12% during 2013 to 2020). Heightened awareness of anti-counterfeiting technologies within vendor communities would trigger this growth. Geographical segmentation is done on the basis of the regions of North America, Europe, Asia Pacific, and RoW – Rest of the World.

North America, with revenues around USD 46 billion, was the leader in 2012. Europe held 16% share and stood second that year. Asia Pacific will grow at the fastest rate in the coming years. India and China present lucrative opportunities for the region. China observes high counterfeiting following which agencies have come up to counter the same.

Consequently, the nation attracts several players from across the globe. The worldwide pharmaceuticals and food anti-counterfeiting technologies market is extremely competitive. Established players comprise Sun Chemical, Inksure Technologies, and CFC International.

Pharmaceuticals and Food Anti-Counterfeiting Technologies Market

Information Source: Grand View Research