Anti-Counterfeit Packaging Market - Growth, Trends, COVID-19 Impact, and ForecasPosted by Statzy Market Research on April 29th, 2021 The evolving regulatory landscape for the protection of authenticity of life-critical products, technological advancements in improving anti-theft measures, increasing diversity in the ongoing threats, and the need for brand protection, has been instrumental in fueling the growth of the anti-counterfeit packaging market. - In 2016, according to the International Trade Administration, the global value for counterfeit drugs was valued in between USD 75 - 200 billion, which is an indicator of a severe threat to the consumer’s health worldwide. The developing economies that are also known to be the major importers of drugs, are the most affected regions due to this trade. - Countries, such as China, India, South Korea, Brazil, and Turkey, have introduced procedures that is designed to tighten the supply chain security for the pharmaceuticals industry. Silicon dioxide-based tags are being used as it is affirmed by the US Food and Drug Administration as generally recognized as safe (GRAS) and is considered fit for human consumption. Free Sample report for this report is available :- https://www.statzyreports.com/report/sr499067/anti-counterfeit-packaging-market - Lifesaving drugs are also not free from the trade of fake medicines. In November 2017, the WHO estimated that fake medicine accounts for 10% in total of USD 300 billion in the pharmaceuticals industry, especially in low- and middle-income countries. - The growing public use of online pharmacies, along with a new mass producer of counterfeit medicines, has widened the market for falsified drugs. According to the WHO, around 50% of the drugs for sale in the internet are estimated to be fake. - Consumers are increasingly demanding for transparency, which results in a significant rise in the traceability of these products. The region has United States, whose counterfeit goods exceeds USD 1 trillion annually based on the value of goods seized by law enforcement, as per the Organization for Economic Cooperation and Development. The presence of refined anti-counterfeit regulation has helped the market in increasing its market share. - Thus, in order to cater to the growing demand, manufacturers are integrating innovative technologies in equipment with specific functionalities for efficient identification and tracking of products. - May 2018 - CCL Industries Inc. acquired Nortec International Ltd, a private specialty manufacturer of high-performance labels and marking systems for the Israeli high technology sector, based near Tel Aviv, Israel, for approximately USD 9 million. For sample report please visit : https://www.statzyreports.com/report/sr499067/anti-counterfeit-packaging-market Contact Us: Like it? Share it!More by this author |