Global Anti-counterfeit Pharmaceutical Packaging Market was Valued at 2450.4 Million Units in 2018 and is Expected to Grow at a CAGR of 12.7% from 2019 to 2027

Anti-counterfeit Pharmaceutical Packaging

Pharmaceutical Anti-counterfeiting Technologies is a method of preventing the misrepresentation of pharmaceutical drugs in terms of labeling and identity. Anti-counterfeit pharmaceutical packaging aids in the preservation of the original product's identity throughout the supply chain process. Anti-counterfeit packaging ensures that the original manufacturer's packaging code is not altered and that the pharmaceutical product is not counterfeit.

Market Drivers

The rise of Pharmaceutical Anti-counterfeiting Technologies can be attributed to the growing demand for safe pharmaceutical drug packaging as a result of the increasing number of counterfeit products, which can harm both the reputation of pharmaceutical companies and the health of patients. According to the World Health Organization, one out of every ten medical products in developing countries is forged or subpar. The personal and public health costs are enormous, as is the economic burden, which can amount to up to $200 billion per year.

Increased policy and regulatory implementation for anti-counterfeiting packaging to prevent tampering or counterfeiting of packaged original and branded drugs are expected to drive market growth for anti-counterfeit pharmaceutical packaging. On March 21, 2016, the FDA issued over 1,300 letters to medical practices in the United States that had purchased unapproved prescription drugs and/or injectable devices from TC Medical, an unlicensed supplier who distributed counterfeit Botox in the United States.

Market Restriction

Because the implementation of anti-counterfeiting technology is costly, small manufacturers disregard the drug's safety. This is expected to stifle the growth of the Pharmaceutical Anti-counterfeiting Technologies Market. The growing number of cases in which patients do not consult a doctor before purchasing medications directly promotes counterfeit drugs. According to the American Society for Microbiology, 5% of adults in a group of 400 reported using antibiotics without a prescription in the previous year. This is likely to have a negative impact on market growth.