Counterfeit Drug Detection Device Market Trends

Growth Drivers

• Rising prevalence of counterfeit drugs: The rising trend of counterfeit drugs seriously undermines the health and well-being of the public. As per the World Health Organization (WHO) report, 1 in 10 medical products in low and middle-income countries are substandard or falsified. This surging trend has led to a rising demand for the most advanced detection equipment to authenticate drugs and safeguard consumers.
• Strict government policies: Governments in most parts of the globe are promoting strict policies and measures against the issues caused by spurious drugs. In this regard, the U.S. Food and Drug Administration (FDA) has also issued the Drug Supply Chain Security Act so that pharmaceutical products are traceable and verifiable. These strict policies are compelling pharmaceutical companies and health service providers to opt for more quality-focused anti-counterfeiting solutions that ensure counterfeit drug detection device market growth.
• Technological advancements: With spectroscopy, chromatography, and artificial intelligence technologies, counterfeit drug detection is changing the landscape. Such technologies enable faster, better, and more economical detection of the drugs that have been counterfeited. Such technologies are a necessity for safety and efficacy. For example, Metrohm AG launched a new energy-dispersive X-ray fluorescence (XRF) analyzer called the '2060 XRF Process Analyzer' in April 2024 to perform rapid, non-destructive elemental analysis.

Challenges

• Lack of awareness and training: There is still a lack of awareness and training among healthcare professionals and consumers on how to identify and report counterfeit medicines. The challenge hinders the effective use of detection equipment and requires wide-reaching education programs in drug safety to combat counterfeiting.
• Techniques of counterfeiters: The techniques used in the process of fabricating counterfeit drugs are evolving day to day. As a result, it becomes difficult for regulatory bodies and manufacturers to counter these fabricated drugs with new means for detection tools. A 2023 report by the International Criminal Police Organization (INTERPOL) finds that most sophisticated counterfeiters have web pages and use social media to strategize in distributing their commodities, so identification and implementation of such counterfeit drugs becomes cumbersome.