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 manufacturers 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
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 organizations 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.
by: Gladeyas
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