Pharmaceutical products are one of the most vulnerable goods for counterfeiting practices worldwide. Anti-counterfeiting technologies are applied to nullify adverse impact on health of patients, which may lead to death of extreme cases. Pharmaceutical industry has one of the highly complex supply chain management networks, which makes it increasingly difficult to track products from end-to-end platform, while increasing demand for counterfeiting practice. Unlike other products in which counterfeiting practices could
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Moreover, various patented products of high price are counterfeited with spurious content to gain high profit. Anti-counterfeiting technologies consist of different types such as track and trace technologies, cohort technologies, overt technologies, and forensic technologies. Drugs that are commonly counterfeited include birth control, anti-malarial, and other lifesaving drugs. Although there is a rapid change in technology landscape, the burden of anti-counterfeiting practices are increasingly shared by the end users.
Pharmaceutical anti-counterfeiting technologies market is majorly driven by the increasing incidence of counterfeiting medicines. According to the International Trade Administration Top Market Reports on Pharmaceuticals published in 2016, the global market for counterfeit drugs valued at US $ 75 – 200 billion, which is a serious threat to the health of people worldwide. In 2017, the Pharmaceutical Security Institute (PSI) reported a rise in drug diversion incidents around the world, which includes diversion of medicines for compassionate use.
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