Counterfeit Drug Detection Market to Grow 3.3% CAGR

The expansion of the global counterfeit drug detection device market is propelled by a compounded annual growth rate (CAGR) of 3.3% in the upcoming ten years, indicating an increased international emphasis on addressing the rising issue of fake medications. The market is experiencing consistent growth, with forecasts showing a rise from USD 1,167.7 million in 2024 to USD 1,615.6 million by 2034.

Fake medications remain a major danger to global public health, leading to increased demand for trustworthy detection tools. These devices are vital for verifying the authenticity of medications and safeguarding patients from the dangers linked to using subpar or counterfeit drugs. With the increase in counterfeit drug-related cases, particularly in areas with a significant presence of illegal pharmaceutical practices, the demand for strong detection solutions has become more urgent than ever.

Counterfeit medications may have no active ingredients, inconsistent active ingredients, or active ingredients that are more potent than the original ones. The issue of fake medications is a significant challenge in the healthcare sector due to the widespread availability of these substances.

The tools developed for identifying counterfeit drugs, thanks to technological progress in the industry, are anticipated to boost the expansion of the counterfeit drug detection device market. Advancements in technology for tracking packaging non-compliance, like holographic duplication, are expected to enhance the growth of the counterfeit drug detection devices market during the forecast period.