In a July 12th story posted on SecuringPharma.com, they report on a Global Industry Analysts (GIA) study regarding the market for anti-counterfeiting technologies.
In the report the GIA states that the global market for anti-counterfeiting technologies could reach $82.2bn by 2015. The GIA says that the food and pharmaceutical industries are currently the most vulnerable to the actions of counterfeiters and that the pharmaceutical and food companies suffer "substantial" losses every year from counterfeiting. These losses are encouraging various strategies to prevent brand damage, including investments in anti-counterfeit technologies.
Included in the SecuringPharma story:
• With the security threat graph spiking a tad too rapidly for manufacturer’s comfort, demand for anti-counterfeit products and services is experiencing a steady rise," says the report, which notes that holograms, tamper-evident closures, taggants and markings and RFID labels will all play their part in the fight against counterfeiting.
• GIA also note that this increase in investment in technologies is coming despite the downturn in the global economy, helped by regulatory drivers including US and EU moves towards serialization and track-and-trace for pharmaceuticals.
• North America and Europe collectively account for a major share of the global anti-counterfeit packaging market, according to GIA, and brand owners there are increasingly investing in multilayered brand protection using overt, covert and forensic technologies.
• "Government regulations necessitating the need for anti-counterfeit technologies are the silver lining from the downturn in the global economy [and] the present recessionary climate also makes sense to invest in anti-counterfeit packaging to gain back the lost sales from the counterfeiters."
Secure Pharma Chain Blog is encouraged by the GIA report and endorses that all members for the pharmaceutical supply chain protect their brand, limit their liability, manage costs, secure inventories and ultimately protect consumers by deploying anti-counterfeiting technologies.
It is vital that these technologies continue to be deployed to protect the global supply chain from poor qualtiy, fraudulent and counterfeit drugs.
To read the SecuringPharma.com post, visit: http://www.securingpharma.com/40/articles/520.php.
To learn more about anti-counterfeit technologies, visit: http://www.xstreamsystems.net/.