Global Market For Pharmaceuticals and Food Anti-Counterfeiting is Expected to Reach 160.32 Billion by 2020 - Latest Industry Study Published by GrandViewResearch, Inc
San Francisco, California (PRWEB) February 06, 2014 -- The global pharmaceuticals and food anti-counterfeiting market is expected to reach USD 160.32 billion by 2030, according to a new study by Grand View Research, Inc. The rise in the consumption of counterfeit products and the implementation of strict regulations pertaining to anti-counterfeiting by the U.S. FDA are two of the primary growth drivers of this market. Moreover, anti-counterfeiting initiatives undertaken by manufacturers to curb revenue and brand image losses, the introduction of technological advancements such as ultra-high RFID tags and the high scale of counterfeiting in rapidly growing economies such as Brazil, India, China and Russia will serve this market as drivers.
RFID based pharmaceuticals and food anti-counterfeiting technologies are expected to be the most attractive markets and are estimated to grow at a CAGR of approximately 20% from 2013 to 2020. Its ability to reduce costs associated with food and drug recalls, track products along the supply chain and provide real time access to drug and food packaging is one of the factors attributing to its high CAGR. Moreover, unique EPC (electronic product code) inscribed on a RFID chip significantly reduces the chances of counterfeiting.
The report “Pharmaceuticals and Food Anti-Counterfeiting Technologies Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/pharmaceuticals-and-food-anti-counterfeiting
Further Key findings from the study suggest:
North America dominated the market in terms of revenue share in 2012. Its market share was valued at over 60% in 2012 on account of drivers such as the presence of high customer awareness levels and the high market penetration of anti-counterfeiting technologies especially RFID and bar code technologies. However, the abundant presence of future growth opportunities in the Asia Pacific region (especially China) in terms of untapped markets and growing customer awareness levels will help this market grow at the highest CAGR (over 14%) from 2013 to 2020.
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The pharmaceuticals and food anti-counterfeit bar codes technology market accounted for the highest revenue share in 2012. Its share was calculated at over 45% in 2012. However, noteworthy rise in the usage rate of RFID based anti-counterfeiting technology will cause a decline in its market share towards the end of the forecast period.
Key players of this market include 3M, DuPont Authentication Systems, Tagsys RFID, Printronix, Hologram Industries, Globaranger Corporation, Zebra Technologies, Holostik, Inksure Technologies and others
For the purpose of this study, Grand View Research has segmented the global pharmaceuticals and food anti-counterfeiting technologies market on the basis of application and region:
Pharmaceuticals and Food Anti-Counterfeiting Technology Outlook,
Authentication
Inks and Dyes
Holograms
Watermarks
Taggants
Others
Trace and Track
Bar Codes
RFID (Radio Frequency Identification)
Pharmaceuticals and Food Anti-Counterfeiting Technologies Application Outlook,
Food
Pharmaceuticals
Pharmaceuticals and Food Anti-Counterfeiting Technologies Regional Outlook,
North America
Europe
Asia Pacific
Rest of the World
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
Contact:
Sherry James
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Grand View Research, Inc
Phone: 1-415-349-0058
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Sherry James, Grand View Research, Inc., http://www.grandviewresearch.com/, +1 4153490058, [email protected]
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