Adherence packaging market Size Worth USD 1,686.6 Million in 2032 | Emergen Research
High percentage of non-adherence to medication among patients is one of the key factors driving Adherence packaging market revenue growth
Vancouver, Jan. 30, 2024 (GLOBE NEWSWIRE) — The global adherence packaging market size was USD 917.7 Million in 2022 and is expected to register a rapid revenue CAGR of 6.2% during the forecast period. High percentage of non-adherence to medication among patients is one of the key factors driving market revenue growth. Adherence packaging helps patients to take their medications on time and stay on track and improve health outcomes. Higher patient-physician discordance, which results in lower patient satisfaction, is one of the main causes of non-adherence. The percentage of non-adherence varies greatly; in various studies, it has been reported to range between 10% to 92%. About half of this non-adherence is willful, and other patients either are not aware that they are not taking their prescriptions as directed or the regimen is simply too complicated.
In addition, technological advancements, such as remote dispensing systems, is also leading to higher demand for adherence packaging, hence driving revenue growth of the market. There are now commercially accessible innovative digital technology solutions that enable and monitor real-time medication consumption.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2051
However, high initial cost of installing such packaging solutions is a major factor, which could restrain market revenue growth. Adherence packaging sometimes requires specialized tools and technology, which may be costly for pharmacies and healthcare organizations to buy and maintain. In addition, continuous expenses for replacing packaging supplies and hiring new workers may be high. Particularly smaller institutions or those with tight budgets may be discouraged from implementing adherence packaging solutions as a result of these financial obstacles. In order to justify the original investment and recurring costs, it is also necessary to carefully assess the return on investment in terms of increased medication adherence.
Segment Insights:
Type Insights:
On the basis of type, the global adherence packaging market has been segmented into unit-dose packaging systems and multi-dose packaging systems. The unit-dose packaging systems segment is sub-segmented into blister card packaging systems and pouch/strip packaging systems. The multi-dose packaging systems segment is also sub-segmented into blister card packaging systems and pouch/strip packaging systems. The multi-dose packaging systems segment is expected to account for largest revenue share in the global adherence packaging market during the forecast period. Development of multi-dose packaging methods have proven to be crucial since drug management has become essential for healthcare.
Material Insights:
On the basis of material, the global adherence packaging market has been segmented into plastic, paper & paperboard, and aluminum. The plastic segment is sub-segmented into Polyvinyl Chloride (PVC), rigid PVC, Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), and others. The plastic segment is expected to register steadily fast revenue growth rate in the global adherence packaging market during the forecast period. This is because blister packs and pouches made of plastic offer good barrier protection, shielding the pharmaceuticals from moisture, light, and air. These package options allow versatility in design and customization, as well as being lightweight and affordable. In addition, plastic packaging allows for easier opening and administration and improves medicine visibility, supporting patient convenience and medication adherence.
Regional Insights:
The North America market is expected to account for largest revenue share in the global adherence packaging market during the forecast period. This is owing to rising prevalence of chronic diseases including diabetes and cardiovascular conditions. The integration of adherence packaging systems has been made easier by rising acceptance of cutting-edge healthcare technology and availability of a well-established healthcare infrastructure. In addition, increasing presence of leading industry players and their ongoing Research & Development (R&D) activities is another key factor driving market revenue growth in this region.
The Europe market is expected to register fastest revenue growth rate in the global adherence packaging market over the forecast period attributed to increasing need to reduce medication waste in this region. For instance, the packaging regulations of the European Union (EU) have undergone several revisions and amendments. These modifications include increasing the recycling goals for packaging waste and adding new waste avoidance and reuse requirements for countries within the EU. In addition, rising requirement for long-term drug adherence as well as increasing prevalence of chronic illnesses are also expected to drive market revenue growth in this region during the forecast period
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2051
Scope of Research
Report Details | Outcome |
Market Size in 2022 | USD 917.7 Million |
CAGR (2023-2032) | 6.2% |
Revenue Forecast To 2032 | USD 1,686.6 Million |
Base Year For Estimation | 2022 |
Historical Data | 2019-2021 |
Forecast Period | 2023-2032 |
Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Type, material, end-use, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, UK, France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of Middle East & Africa |
Key Companies Profiled | Omnicell, Parata Systems, MCKESSON CORPORATION, Cardinal Health, BD, KUKA AG, PEARSON MEDICAL TECHNOLOGIES, RxSafe, LLC., ARxIUM, and Manrex Ltd. |
Customization Scope | 10 hours of free customization and expert consultation |
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2051
Major Companies and Competitive Landscape
The global adherence packaging market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective adherence packaging services. Some major players included in the global adherence packaging market report are:
- Omnicell
- Parata Systems
- Mckesson Corporation
- Cardinal Health
- Becton and Dickinson Company (BD)
- KUKA AG
- Pearson Medical Technologies
- RxSafe, LLC.
- ARxIUM
- Manrex Ltd.
Strategic Development
- On 12 April 2023, SortPak, a specialty pharmacy recognized by URAC and the ACHC, collaborated with CivicaScriptTM to improve patients’ prescription adherence,. Through this collaboration, CivicaScript medications will be available in packaging that will improve patient convenience and cost savings while maintaining federal drug compliance. SortPak, a specialized and customized pharmaceutical provider offers two packaging choices, SortPak and SyncPak.
- On 21 April 2022, Schreiner MediPharm released a more advanced version of the Smart Blister Wallet, which is a digitally enabled instrument that enables pharmaceutical companies to track compliance in their clinical trial participants automatically and more adaptably.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/adherence-packaging-market
For the purpose of this report, Emergen Research has segmented adherence packaging market on the basis of type, material, end-use, and region:
- Type Outlook (Revenue, USD Million; 2019–2032)
- Unit-dose Packaging Systems
- Blister Card Packaging Systems
- Pouch/Strip Packaging Systems
- Multi-dose Packaging Systems
- Blister Card Packaging Systems
- Pouch/Strip Packaging Systems
- Unit-dose Packaging Systems
- Material Outlook (Revenue, USD Million; 2019–2032)
- Plastic
- Polyvinyl Chloride (PVC)
- Rigid PVC
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Others
- Paper & Paperboard
- Aluminum
- Plastic
- End-Use Outlook (Revenue, USD Million; 2019–2032)
- Retail Pharmacies
- Long-term Care Facilities
- Hospital
- Mail-Order Pharmacies
- Regional Outlook (Revenue, USD Million, 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of Middle East & Africa
- North America
Emergen Research is Offering Exclusive Customization as per your Specific Requirements@ https://www.emergenresearch.com/request-for-customization/2051
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Explore Our Japanese Version: Adherence Packaging Market
Read our Press Release @ https://www.emergenresearch.com/press-release/global-adherence-packaging-market