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The global market in counterfeit goods is worth $1.8 billion each year, and this number is rising. When we think of counterfeiting, we think of currency, handbags, art and electronics. The truth is fraud exists in a number of sectors and almost any product is vulnerable.
One sector that is particularly susceptible to counterfeiting is the pharmaceutical industry. A staggering number (some estimates are 50%) of all online pharmaceuticals are not legitimate. This carries serious risk and consequences for unwitting consumers.
While there may not be one singular solution for preventing fraud, one technology that may help manufacturers and consumers ensure legitimacy is an advanced 3D barcode printer system. The 3D barcode system, developed in the United Kingdom, was demonstrated using medicine and pharmaceuticals. It is also suitable for products across a range of industries including food, electronics, and motor vehicles.
Unlike a typical barcode printer system, these codes embed a series of indentations directly into the product. This formatting allows for an almost unlimited number of combinations. The actual ‘barcode printer’ is made up of a number of adjustable pins that dent the product during the molding process. The barcodes are then scanned by a device that uses light to decipher the dents and read the code.
It’s important for consumers and manufacturers alike to be aware that counterfeit goods come in all shapes and sizes. When it comes to products like pharmaceuticals, food, and automotive parts, the effects of a fraudulent item can be damaging. Regular consumers of these items have an increasing need for an effective way of determining the legitimacy of what they buy. Because barcodes, especially advanced ones, are like fingerprints—innately unique and hard to replicate—they’re a great option for fulfilling this need.
Since 1952, the barcode printer system has continued to evolve and adapt to a wide range of emerging needs. Today, technological advancements have changed the way we create, read, and utilize barcodes. This latest development might even be a key player in dismantling the world’s almost two-billion-dollar counterfeit goods market and putting a stop to the rate at which goods are being illegally replicated.
Try our free online Barcode Generator.