The global anti-counterfeit packaging market in pharmaceutical industry to grow at a CAGR of 21.36% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global anti-counterfeit packaging market in pharmaceutical industry for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of various technologies that include covert technologies and overt technologies. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is growing initiatives by pharmaceutical companies. The global anti counterfeit packaging in the pharmaceutical industry is growing because of increasing initiatives by the pharmaceutical companies. Many global pharmaceutical companies are collaborating with several associations and launching safety initiatives for the safe use of drugs.
According to the report, one driver in the market is rising online purchase of medicines. With a growing trend of online shopping globally, people tend to purchase medicines online as well. However, it is found that, in 2016, more than 55% of the medicines purchased online globally were either of poor quality or fake. Moreover, it is found that most of the online pharmacy websites do not entail any valid prescription for selling medicines. Thus, initiatives are taken to fight against counterfeiting over the Internet. The Alliance for Safe Online Pharmacies (ASOP Global) is helping consumers to protect them from illegal online drug sellers by providing access to legitimate online pharmacies.
Further, the report states that one challenge in the market is rising price of prescription-based drugs. A prescription-based drug requires a legal medical prescription from a licensed pharmacist. If a consumer faces uncertainty during the consumption of such drugs, its information such as its packaging, color, size, shape, and taste can be obtained from the pharmacist. However, the rise in the prices of such drugs is posing a challenge for the global anti counterfeit packaging in the pharmaceutical industry. This is primarily because the counterfeit drugs are less expensive, and with a rising price of prescription-based drugs, consumers tend to purchase inexpensive drugs from any pharmacist who may not be licensed.
Other prominent vendors
Applied DNA Sciences
ATL (Ad Tape & Label)
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Types Of Technology