Anti-counterfeit pharmaceutical and cosmetics packaging expected to reach $80.2 billion by 2020
A recent report by Allied Market Research (alliedmarketresearch.com) titled "Global Anti-Counterfeit Pharmaceutical and Cosmetics Packaging Market-Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020" forecasts the anti-counterfeit pharmaceutical and cosmetics packaging market to grow at a CAGR of 15.7% during 2015-2020. The hologram authentication technology segment accounted for about 52% share in 2014 and would continue to lead the market through 2020, mainly due to varied products and economic pricing. E-pedigree authentication technology would be the fastest growing segment among RFID anti-counterfeit technologies market, estimated to grow at a CAGR of 21.5% during 2015-2020.
Counterfeiting of pharmaceutical and cosmetic products have emerged as a serious concern for the original product manufacturers. Life threatening consequences due to counterfeit pharmaceutical and cosmetics products have increased the risk of losing brand equity and revenue by the manufacturers, which in turn, fuels the demand for anti-counterfeit technologies.