Market Overview:
Adherence packaging involves the use of multi-dose/blister packaging designed to hold prescribed doses of medication for individual intake on correct days and times. It provides improved medication management and aids patients adhere to treatment plans.
The global Adherence Packaging Market is estimated to be valued at US$ 993.89 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Integration of artificial intelligence (AI) in adherence packaging is a key trend shaping the growth of the market. AI-enabled adherence packaging uses sensors and analytic tools to monitor medication taking behavior in real-time. Data from packaging is transmitted to physician/caregivers to address non-adherence issues proactively. AI improves treatment efficacy through personalized intervention and remote monitoring of patients.
Segment Analysis
The adherence packaging market is segmented by type into blister card packaging, pre-filled syringes, barrels & bottles and pouches. Blister card packaging is dominating the market accounting for more than 50% share as it provides efficient protection, easy handling and ensures medication safety. The visibility, tamper-proof properties and precise dosing benefits have increased the uptake of blister card packaging globally.
Key Takeaways
The global Adherence Packaging Market Share is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing aging population and prevalence of chronic diseases.
The North America region is expected to hold the largest share in the adherence packaging market during the forecast period. This is attributed to factors such as growing geriatric population, high spending on healthcare and increasing number of medication errors in this region. Asia Pacific is anticipated to exhibit the fastest growth rate over the next few years owing to rising healthcare expenditure and growing demand for adherence packaging in emerging economies like China and India.
Key players operating in the adherence packaging market are Westrock Company, Keystone Folding Box Co, Cardinal Health Inc, Omnicell Inc., Jones Healthcare Group, Drug Package LLC, Manrex Limited, Medicine-on-time LLC, and Rx Systems Inc. Westrock Company is a prominent player owing to its wide product portfolio and global presence. Keystone Folding Box Co specializes in high-end folding carton packaging for adherence packaging solutions with advanced features.
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The global Adherence Packaging Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the adherence packaging market include Omnicell, Inc., Tcgrx, Parata Systems, LLC, Mckesson Corporation, Cardinal Health, Inc., Becton, Dickinson and Company, Kuka Aktiengesellschaft, Pearson Medical Technologies LLC, Rxsafe, LLC, Arxium, Inc., Talyst, LLC, Manrex Limited, Medicine-On-Time, Accu-Chart Plus Healthcare Systems, Inc.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Adherence Packaging Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/adherence-packaging-market/download-sampleMarket DynamicsThe growing need to minimize medication wastage is the primary factor driving the adherence packaging market over the forecast time frame.
The rising prevalence of chronic illness worldwide is majorly contributing to the adherence packaging markets growth.
The high technological advancements, such as remote dispensing systems, also positively impacted the growth of adherence packaging market.
Top-down and bottom-up approaches were used to validate the size of the global medication adherence packaging market and estimate the size of various other dependent submarkets.
Major players in the market were identified through secondary sources; directories; databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, journals and their market revenues were determined through primary and secondary research.Major Growth Drivers:Market growth can be attributed to the growing need to minimize medication wastage, high rate of medication nonadherence, and technological advancements such as remote dispensing systems.
All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.In this report, the global medication adherence packaging market is segmented on the basis of systems type, packaging type & material, and end users.
This report also provides market information on major regional segments, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=211268724Based on packaging type, the blister cards segment dominated the adherence packaging market.
The large share and high growth of this segment can be attributed to enhanced medication shelf life, better tamper resistance, easy storage & transport, reduced medicine dispensing time, and improved medication adherence.
