Increasing penetration of counterfeit medicines has dealt a massive blow to the healthcare system globally and has caused severe losses for the pharmaceutical industry. Pharmaceutical manufacturers have since taken measures to prevent recurrence of these events, anti-counterfeit packaging being one of them.
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Overt and Covert Technologies
Overt and covert technologies have been undertaken by pharmaceutical manufacturers to distinguish their products from counterfeit ones. These technologies can also stop unwarranted claims and lawsuits pertaining to ill-health resulting from such medicines. Overt technologies employed are holograms, barcodes, and sealing tapes, while covert technologies include biometric fingerprints and radio-frequency identification (RFID) tags. Advent of smart packaging allows manufacturers and consumers to track merchandise till it reaches the delivery point.
Counteractive Measures to Prevent Counterfeiting
TruTags Technologies Inc., a provider of authentication packaging solutions, has developed a new microtag that allows customers to track their products throughout the supply chain. Commercially marketed as TruTags, the product is edible and can be used by pharmaceutical manufacturers directly on the product. Each microtag has a unique code that can be verified with the help of the company’s readers.
Smart packaging employs near-field communication (NFC) and RFID technologies that can link directly to smartphones. Manufacturers are employing track and trace technologies to prevent counterfeiting of future goods. The U.S. Drug Supply Chain Security Act (DSCSA) passed in 2013 provides pharmaceutical manufacturers the freedom to put in necessary measures to prevent the sale of spurious goods.
Market Outlook
According to a report on Radiant Insights, Inc., the global anti-counterfeit packaging market focused on the pharmaceutical industry is expected to expand at a CAGR above 21% during the forecast period (2017–2021). It is predicted to attain good volume growth due to rising need to prevent unforeseen deaths resulting from counterfeit medicines.
The over-the-counter drug segment is predicted to grow robustly over the forecast period due to its easy availability at pharmacies. North America was the biggest market thanks to being host to notable pharmaceutical manufacturers as well as a sizeable consumer base. Notable market players include Authentix, DuPont, The 3M Company, and Avery Dennison Corporation.
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