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Reasons for investing in anti counterfeiting solutions
1. Reasons for Investing In Anti-Counterfeiting Solutions
The Global Anti-Counterfeit Packaging market is estimated to reach approximately US$82. 2 billion
by the year 2015, according to GPI. This growth in the market is driven by factors like proactive
strategies undertaken by numerous enterprises to avert brand erosion and revenue loss, increased
focus on preservation of drug efficacy, agility and speed in new product development and the increased
consumer awareness about the hassles of counterfeiting.
Counterfeiting poses health concerns for consumers worldwide, safety issues for law enforcement
agencies and financial hassles for the world economy. Today the food and pharmaceutical industries
have become extremely vulnerable to the sophisticated operations of third party intruders and
counterfeiters. Owing to the widespread product counterfeit concerns, branded drug companies
provide substantial losses every year. As a result, consumer product manufacturers look for online anti-
counterfeiting solutions to protect this lucrative market.
As the counterfeit security threat graph is going up a tad bit rapidly for manufacturer’s comfort, the
demand for anti-counterfeit products and services too is rising. Embracing anti-counterfeit technologies
in the form of tamper-evident closures, holograms, and markings and RFID labels are efficient to
combat counterfeiting; coupled with the monitoring of the online markets where these products are
sold. Service providers specializing in enterprise risk management are providing high-end security and
flexibility in a cost-efficient and easy-to-use format to cater to the needs and budgets of the end users.
The solutions work in the following ways:
● Apart from proactively scanning the internet for counterfeits, the solution makes use of human
intelligence to ensure total data integrity
● The solution helps pharmaceutical and other companies to significantly bring down the
percentage of drug duplication by detecting the network and syndicates of high volume
counterfeits
● Provides a comprehensive end-to-end brand protection solution that includes investigation and
unique enforcement services
● The processes are less expensive and time consuming
2. Today every enterprise is extremely conscious about its brand image, as it is much more than just a
name of a trademark. It is an organization’s identity and has its intrinsic nature and traits that help in
developing wider recognition with the consumer. Hence any brand violation activity results in both finite
and infinite losses. The standard and generic brand protection solutions merely scan for the obvious
brand abuse and misuse and do not have advanced anti-counterfeiting processes. Innovative anti-
counterfeiting solutions apart from recognizing the counterfeit products can also shut down illegal
operations efficiently. Simultaneously, it can also send, cease, desists DCMA letters automatically and
offers an automatic action to shut down. In addition to all these, the legislators too have been a crucial
role in setting up laws and regulations to combat counterfeiting and gray market activities.
Read More About: brand management, brand reputation