Counterfeit prevention set to grow in double digits by 2020: report

It looks like the anti-counterfeit market is getting a boost.

A new report called “Global Anti-Counterfeit Pharmaceutical and Cosmetics Packaging Market – Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020,” projects the sector to grow at a CAGR of 15.7 per cent over the next five years.

According to the report, this growth will be led by hologram authentication, which made up more than half (52 per cent) of the 2014 share thanks to a large variety of products that use the relatively cheap method.

Newer technologies are on the rise however.

These include epedigree authentication technology, which uses electronic documents transferred using radio-frequency identification (RFID), and are projected to grow at a CAGR of 21.5% during this period.

RFID, Barcode and epedigree also fall under the track and trace category of technologies, which are racing in popularity against authentication packaging.  The report estimated that the former would surpass the latter within five years, largely thanks to accelerating uptake of epedigree authentication.

“This is due to the mandatory drug safety and authentication regulatory impositions,” the report said. “Factors, such as higher cost of track and trace technology, limited awareness about product security, and complex operational procedures, would hinder the market growth. However, active initiatives from anti-counterfeit trade associations, and pharmaceutical companies would endorse the adoption of anti-counterfeit technologies.”

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Jim Love, Chief Content Officer, IT World Canada

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Dave Yin
Dave Yin
Digital Staff Writer at Computer Dealer News, covering Canada's IT channel.

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