Pharmaceuticals And Food Anti-Counterfeiting Technologies Market To Witness Enhanced Rate Of Application Till 2020

Deceptive representation of an original food product and pharmaceutical is referred to as counterfeiting.  Increasing growth of low quality and cheap counterfeit products mainly pertaining to the food and pharmaceutical industries has promoted the rate of implementation of anti-counterfeiting technologies. Trace technologies, covert features enabling, and overt/visible features are some of the key technologies associated with anti-counterfeiting.  The U.S FDA stated that Pharmaceutical manufacturers in the U.S suffer a revenue loss of USD 300 billion everywhere. This was mainly due to the counterfeiting in the region. In addition, these products also affect the brand image of the original manufacturer as they achieve low on quality.

Rising awareness levels of regulatory authorities like the U.S FDA coupled with manufacturers’ losses in terms of brand image and revenue is likely to boost the anti-counterfeiting technologies market.

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Abundant existence of untapped opportunities in Asian countries with increased counterfeiting occurrences in china coupled with Augmenting demand for advanced technologies like ultra-high RFID tags is expected to boost the industry growth over the coming years. China contributes to over 70% of the total customs seizures according to the report published by the World Customs Organization.

In 2012, the bar codes segment dominated the worldwide pharmaceutical and food anti-counterfeiting technologies market. Advanced existence of high market penetration rates of this technology in food and drug industries mainly pertaining   to the packaging and inventory management facets displayed by this technology will drive the industry.  RFID based technology acts as the driver for the overall market as the technology is relatively cheaper as compared to others.

In terms of revenue, Pharmaceutical anti-counterfeiting applications dominated the entire market in 2013.  It contributed to the market share of over USD 40 billion in the year 2012.  Increasing adoption rates of anti-counterfeiting in the pharmaceuticals sector are the major factor boosting the market. Furthermore, the food counterfeiting technologies industry is likely to undergo the highest CAGR over the coming years. This is mainly due to rising awareness levels of manufacturers and the existence of a constantly advancing infrastructure that support the execution of these technologies 

In terms of revenue share, North America dominated the overall market for anti-counterfeiting technologies in the year 2012. Implementation of strict and diligent regulations by the FDA coupled with the existence of sophisticated healthcare infrastructure in the region are the factors expected to drive the market further.