Counterfeit pharmaceuticals and food threaten innovation

Just last year, global sales of anti-counterfeiting packaging technologies were worth $64 billion. That value is projected to reach $74.2 billion in 2015, after increasing at a five-year compound annual growth rate (CAGR) of 3%.

The forecast comes from BCC Research LLC. The publisher of market research reports and technical publications breaks down anti-counterfeiting packaging technologies into track and trace and authentication. In 2010, track-and-trace technologies were valued at $31.7 billion, and should be worth $36.5 billion by 2015. Authentication technologies were worth $32.4 billion in 2010 and will be valued at $37.7 billion in 2015.

BCC Research says, “Global counterfeiting is a growing problem that poses public health and safety concerns for consumers and law enforcement agencies, and also creates financial concerns for legitimate global businesses. Anti-counterfeiting initiatives include the use of technology-based measures, regulatory provisions, secure business practices, consumer awareness and education, and increased global collaborative surveillance by government and nongovernmental agencies.

“In the pharmaceutical and food industries, counterfeiting can cause loss in sales and profits, erosion of brand integrity, and decreased customer loyalty. The counterfeit and pirated goods trade within the industry threatens innovation incentives, competitive business, and employment livelihood. For these reasons and many others, there is an obvious need for anti-counterfeiting measures, and a foreseeable market for anti-counterfeiting packaging technologies over the next five years.”

For more information on the report “Anti-Counterfeiting Packaging Technologies In The Global Pharmaceutical and Food Industries,” contact BCC Research at 9 Walnut Park, Building 2, Wellesley, MA; Telephone: 866/285-7215.