In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSMarch 2020: Avery Dennison Corporation, on March 2, 2020, announced that it has completely acquired Smartrac’s Transponder business for development and manufacture of RFID products, in a deal of around USD 226.58 million.
August 2020: CCL Healthcare joined hands with DoseID Consortium to expand its scope to the use of radio-frequency identification (RFID) technology in the healthcare sector.
The global anti-counterfeit pharmaceutical packaging market is anticipated to gain a sizeable revenue and witness a significant CAGR during the forecast period, i.e., 2021 – 2029. This can be accounted to the increasing number of counterfeit products and growing demand for well-protected pharmaceutical drug packaging. According to the WHO, 1 out of every 10 medical products in developing countries is counterfeited or substandard. Amongst all the regions in the world, 42% of the reports came from Africa. Along with these, rising emphasis of manufacturers to safeguard their brand identities and stringent government regulations to prevent illegal drug channeling are also expected to drive growth to the market in the near future. Furthermore, development of innovative technologies for identification and authentication of medicines is estimated to provide impetus to the market in the coming years.
The anti-counterfeit pharmaceutical packaging market can be segmented by technology into mass encoding, security printing & graphics, holograms, RFID, and security ink coatings. Out of these, the mass encoding segment is projected to hold a significant market share during the forecast period, owing to its excellent product tracking solution in several nodes of the supply chain management. However, the segment for RFID is estimated to register highest growth by the end of 2029, which can be attributed to the better tracking features and product security of this technology. Additionally, on the basis of feature, the segments for covert & overt features are evaluated to grow with a notable CAGR during the forecast period. This can be credited to the increasing adoption of covert & overt systems as they are able to offer authenticated packaging in the form of a visual representation or any other comprehensive method which is extremely hard to copy without a particular detection device.
On the basis of regional analysis, the anti-counterfeit pharmaceutical packaging market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The North American region is predicted to account for the largest share in the market by both value and volume during the forecast period, owing to the rising focus on promoting the use of sustainable anti-counterfeit packaging alternatives and the presence of the majority of key players. However, the Asia Pacific is calculated to record immense growth during the forecast period on the back of the growing realization among consumers that has led to them to become more aware regarding what they are buying before consumption, which in turn is also estimated to increase the demand of these packaging in this region. In addition, rising adoption of security technologies for medicines in China alone is also expected to drive market growth in the region. CLICK TO DOWNLOAD SAMPLE REPORT
The anti-counterfeiting pharmaceutical packaging market is further classified on the basis of region as follows:
Our in-depth analysis of the anti-counterfeit pharmaceutical packaging market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Strict regulatory framework associated with anti-counterfeit packaging and development of innovative packaging technologies are considered to be the major market growth drivers.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 – 2029.
Costly setup of anti-counterfeit pharmaceutical packaging is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities on the back of growing awareness regarding the benefits of anti-counterfeit packaging.
The major players in the market are Avery Dennison Corporation, CCL Industries Inc., DuPont de Nemours, Inc., AlpVision S.A, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by technology, feature, and by region.
The RIFD segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions | LOB
Copyright © 2022 Research Nester. All Rights Reserved
