The counterfeit drug detection devices market is expected to reach a market value of US$1.6 billion by 2034 and is expected to develop steadily over the next ten years. This increasing trend indicates a 3.3% compound annual growth rate (CAGR) from 2024 onwards, indicating a growing emphasis on the protection of the global pharmaceutical supply chain.

The public's health is seriously threatened by counterfeit medications, and these detection tools are essential to recognizing and addressing this problem. In order to ensure patient safety and consumer trust, they provide a dependable and effective way to confirm the validity and composition of drugs.

Counterfeit pharmaceuticals are inferior and fraudulent drugs; this is a global problem. Anticounterfeit medication detection devices are medical gadgets that are designed to detect counterfeit pharmaceutical packaging, labeling, and chemical composition. The World Health Organization defines a counterfeit drug as any pharmaceutical product that has been intentionally mislabeled about its origin or identity.

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Several factors are expected to contribute to the market’s expansion:

  • Rising Concerns over Counterfeit Drugs: The increasing instances of counterfeit drugs entering the supply chain are driving the need for effective detection mechanisms.
  • Stricter Regulatory Requirements: Regulatory bodies worldwide are implementing stricter regulations to combat counterfeiting, propelling the demand for reliable detection devices.
  • Technological Advancements: Advancements in technologies like spectroscopy and Raman scattering are leading to the development of more accurate and user-friendly counterfeit drug detection devices.

Competitive Landscape in the Counterfeit Drug Detection Device Market:

The counterfeit drug detection device market is fairly fragmented. While a few reputed companies have a significant share of the market demand, newer players and small-scale players also have the potential to thrive.

Technologically advancing the products, to keep the product line moving, is given priority by market players. Geographical expansion is also given significance by market players.

Recent Developments in the Counterfeit Drug Detection Device Market

  • In February 2022, the AD Minidose U9 RAIN RFID was launched by Avery Dennison Smartrac
    for enhanced RFID applications in the healthcare sector.
  • In August 2021, Vestcom was acquired by Avery Dennison Corporation.
  • In December 2021, Stratio, Inc., with the help of South Korea’s National IT Industry Promotion Agency (NIPA) launched an AI-enabled imaging solution. It is designed to detect infringements at border checkpoints.
  • In September 2021, the Fluoride ISE was introduced by Metrohm for the detection of, as the name suggests, fluoride.

Key Companies in the Counterfeit Drug Detection Device Market:

  • Spectris
  • Spectral Engines Oy
  • Consumer Physics
  • Olympus Corporation
  • Stratio, Inc.
  • Rigaku Corporation
  • Thermo Fisher Scientific, Inc
  • GAO RFID
  • Cellular Bioengineering, Inc
  • Metrohm AG

Key Segments:

By Product:

  • Counterfeit Chemical Composition Detection Devices
    • Ultraviolet/Vis Devices
    • Infrared & Near Infrared Spectroscopy Device
    • Raman Spectrometers
    • XRD & XRF Spectroscopy Devices
  • Counterfeit Packaging & Labelling Detection Devices
    • RFID Analyzer
    • Scanning & Imaging Systems
    • Others

By Modality:

  • Portable Devices
  • Hand-held Devices
  • Bench-top Devices

By End User:

  • Pharmaceutical Companies
  • Drug Testing Laboratories
  • Research Organization

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)