Anti-counterfeit technologies poised to grow through 2014 to 2020

Whether it is critical product like patient’s medicines or consumer items such as cosmetics, counterfeits are available everywhere and costs brands millions each year. As per the surveys carried out by WHO, the rate of malpractices among medicines sold through undependable websites accounts for around 5 percent. Furthermore, the counterfeit drug industry is predicted to grow by 13 percent annually and was valued at 75 billion in 2010. Such stern warning signs have persuaded government authorities to step-in and zero-in on some swift and decisive measures against anyone held blameworthy. Government regulators are also seen stressing on stringent countermeasures comprising of hefty fine pressed on those involved in illegal business in counterfeit items in their respective countries. In a shocking incident this month ACA seized counterfeit products worth Sh35 million at a house located in Nairobi. Besides, Nairobi countries that are not pardoned of this threat include India, Canada, Thailand, Bangladesh and Italy among many others. Last year the entire batch of medicines presented as ‘Made in India’ manufactured in China, was discovered in Africa.

These incidents not only mar the worldwide repute but also put the public health at risk. Therefore to combat this peril several mandates are falling into place like the latest M-Pedigree scheme wherein the buyer scratches his medication kit to get a code and sends it to a toll free number. The buyer then gets a text messaging letting them know if they have purchased a genuine product. Apart from this a recent launch of OrigiCheck in Kenya boasts of doing away with approximately 70 percent copied goods market. The current trend in the cosmetics and pharmaceutical packaging to eradicate malpractices are either visible or secret in nature. However, the future of anti-malpractice trends is a blend of these two. Speaking of the visible type, the holograms have been in vogue for a while now. These classic holograms are not developed using the age-old printing methods. The holograms come with micro images or texts to raise a product’s security level.

Another popular visible anti-counterfeit attributes includes the color shifting ink that is capable of showing separate color from various angles. One of the first pharmaceutical companies to use these inks in logo format was the manufacturing giant Pfizer. This type is considered the most economical solution for all cosmetics and pharmaceutical enterprises. While focusing on the invisible type it includes majorly the security attributes that cannot be seen by the naked eye. Today reactive or UV inks are famous as the most invisible technique to combat copying. In a recent report titled “Global Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market,” Allied Market Research revealed that the anti-counterfeit cosmetics and pharmaceutical segment had generated nearly $35.7 billion by the end of 2014 and would see a CAGR of 15.7 percent through 2014 to 2020.

Another anti-counterfeit solution with the promising future, is the track and trace measure. The solution comprises of a data matrix code printed on the box or label of the product. When scanned the code provides complete data about a product’s journey. To sum it all up, the use of different technologies to the end-user is highly crucial and this makes it a key driver for growth in the years to come.

View all reports related to Pharmaceuticals Industry visit at:
https://www.alliedmarketresearch.com/life-sciences/Pharmaceuticals-market-report

 

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