Technavio’s (technavio.com) latest market research report on the anti-counterfeit packaging market in North America provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The top three emerging market trends driving the anti-counterfeit packaging market in North America according to Technavio research analysts are:
- Rise in demand for 3D barcodes
- Innovation in technology
- Increase in implementation of e-pedigree
Rise in demand for 3D barcodes
The demand for anti-counterfeit packaging increased tremendously due to a considerable increase in the counterfeiting of consumer goods, healthcare products, electronics as well as automotive items. Manufacturing companies are implementing a barcoding system in end-user industries to identify individual parts and not the entire batch of the product. For inventory and tracking system, 3D barcodes are a great boon. It uses a principle like linear and 2D barcodes. During the manufacturing process, 3D barcode is applied to or engraved in the product and can be conveniently molded into the plastic or composite items.
According to Sharan Raj, a lead analyst at Technavio for packaging, “A 3D barcode is scanned using a direct part mark barcode reader and can be read as it captures the reflected image after passing a laser over the code. When the data is recorded, a digital processing unit is used to interpret the image. The addition of color has no effect on the result as this system works on height variances.”
Innovation in Technology
One of the major trends for the anti-counterfeit packaging market in North America is innovation in technology. For authentication and traceability of products, market vendors are investing in R&D and development of new techniques. Increase in the demand for food, beverages, cosmetics, healthcare products, electronics, and automotive products is the leading factor for innovation in the anti-counterfeit packaging market. In addition, for efficient tracing and identification of products, industries are constantly investing in innovative technologies in the development of equipment with specific functionalities.
Increase in Implementation Of E-Pedigree
An electronic document that provides data on the history of a particular batch of medicine is known as an e-pedigree, which is also called an electronic pedigree. E-pedigree is considered to be an important innovation as counterfeit and adulterated drugs are a growing concern in the supply chain in North America. Several states in the region are enacting laws to emphasize on the requirement of drug pedigrees. The drug pedigree standard supports the pharmaceutical industry by implementing a universal system supply chain that is used to collect pedigree information.
“According to the e-pedigree data management software, Viagra is one of the most counterfeited drugs in North America. Hence, by creating a pedigree to trace each distribution of a drug, the system provides a secure chain of custody for a prescription drug. The tracing begins from the 1st instance of the sale by the manufacturer to the pharmacy,” says Sharan.