Counterfeit Drug Detection Device Market

Executive Summary

Counterfeit Drug Detection Device Market was valued at US $1.20 billion in 2021 and is projected to grow at 4.91% CAGR over the forecast period to reach US $1.59 billion by 2027. Counterfeit Drug Detection Device Market represented US $0.11 billion opportunity over 2019-2021 and estimated to create US $0.40 billion opportunity in 2027 over 2021.

Counterfeit Drug Detection Device from Consainsights analyses the Counterfeit Drug Detection Device Market in the Life Sciences industry over the forecast period to 2027.

Counterfeit Drug Detection Device research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Counterfeit Drug Detection Device segmentation includes Technology, Modality, Application and Geography.

Based on the Technology, the Counterfeit Drug Detection Device analysis covers Infrared and Near Infrared Spectroscopy, Microfluidic, Rapid Chemical Testing, Raman Spectroscopy, RFID Technology, Other Technologies.

In Technology segment, Infrared and Near Infrared Spectroscopy segment has highest cagr growth of 4.35%.

Based on the Modality, the Counterfeit Drug Detection Device analysis covers Benchtop Devices, Handheld Devices.

In Modality segment, Benchtop Devices segment has highest cagr growth of 4.35%.

Based on the Application, the Counterfeit Drug Detection Device analysis covers Chemical Composition, Packaging and Labeling Detection.

In Application segment, Chemical Composition segment has highest cagr growth of 4.35%.

Based on the region, the Counterfeit Drug Detection Device analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Bayer AG, Consumer Physics, GAO Group, Konica Minolta Sensing Americas Inc., RIGAKU CORPORATION, Spectral Engines Oy, Stratio Inc., Systech International, Thermo Fisher Scientific Inc. and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Technology

Introduction

In 2021, Infrared and Near Infrared Spectroscopy segment has the highest revenue of US $0.47 billion and is expected to grow at CAGR of 4.35% by 2027 Infrared and Near Infrared Spectroscopy segment has highest cagr growth of 4.35%.

Infrared and Near Infrared Spectroscopy

Infrared and Near Infrared Spectroscopy segment was valued at US $0.43 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.63 billion by 2027. Infrared and Near Infrared Spectroscopy segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.16 billion opportunity in 2027 over 2021.

Microfluidic

Microfluidic segment was valued at US $0.26 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.38 billion by 2027. Microfluidic segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.09 billion opportunity in 2027 over 2021.

Rapid Chemical Testing

Rapid Chemical Testing segment was valued at US $0.18 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.27 billion by 2027. Rapid Chemical Testing segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.07 billion opportunity in 2027 over 2021.

Raman Spectroscopy

Raman Spectroscopy segment was valued at US $0.07 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.11 billion by 2027. Raman Spectroscopy segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

RFID Technology

RFID Technology segment was valued at US $0.08 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.12 billion by 2027. RFID Technology segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

Other Technologies

Other Technologies segment was valued at US $0.06 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.09 billion by 2027. Other Technologies segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.02 billion opportunity in 2027 over 2021.

Modality

Introduction

In 2021, Benchtop Devices segment has the highest revenue of US $0.77 billion and is expected to grow at CAGR of 4.35% by 2027 Benchtop Devices segment has highest cagr growth of 4.35%.

Benchtop Devices

Benchtop Devices segment was valued at US $0.70 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $1.03 billion by 2027. Benchtop Devices segment represented US $0.07 billion opportunity over 2019-2021 and estimated to create US $0.26 billion opportunity in 2027 over 2021.

Handheld Devices

Handheld Devices segment was valued at US $0.38 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.56 billion by 2027. Handheld Devices segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.14 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Chemical Composition segment has the highest revenue of US $0.70 billion and is expected to grow at CAGR of 4.35% by 2027 Chemical Composition segment has highest cagr growth of 4.35%.

Chemical Composition

Chemical Composition segment was valued at US $0.63 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.93 billion by 2027. Chemical Composition segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.23 billion opportunity in 2027 over 2021.

Packaging and Labeling Detection

Packaging and Labeling Detection segment was valued at US $0.46 billion in 2019 and is projected to grow at 4.35% CAGR over the forecast period to reach US $0.67 billion by 2027. Packaging and Labeling Detection segment represented US $0.05 billion opportunity over 2019-2021 and estimated to create US $0.17 billion opportunity in 2027 over 2021.