Adherence packaging market Opportunities in the Next 5 years

Posted on 2020-08-07 by MarketsandMarkets in Healthcare // 0 Comments

Pune, India, 2020-Aug-07 — /EPR Network/ —

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. On the other hand, high installation and maintenance costs of automated systems are expected to restrain the overall market growth during the forecast period.

The global adherence packaging market is projected to reach USD 917.7 Million by 2022 from a base USD 646.0 Million in 2016, at a CAGR of 6.2%.

Adherence Packaging Market by System (Unit-dose, Multi-dose) Type (Blister Card, Pouch) Material (Plastic, Paper & Paperboard, Aluminum) End User (Retail, Long-term care facility, Hospital, Mail-order Pharmacies) – Global Forecast to 2022

What Drives the Market?

1. High Rate of Medication Non-Adherence
2. Growing Need to Minimize Medication Wastage
3. Technological Advancements, Such as Remote Dispensing Systems

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.

Based 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.

Objectives of the Study :

To define, describe, and forecast the adherence packaging market on the basis of systems type, packaging type & material, end user, and region
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa

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The major end users of adherence packaging market are retail pharmacies, long-term care facilities, and hospitals. Long-term care is the fastest growing end user segment in the medication adherence packaging market during the forecast period. In 2016, the retail pharmacies dominated the adherence packaging market.

The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific (APAC)
4. Latin America
5. Middle East and Africa

Geographically, the global adherence packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2016, North America dominated the global adherence packaging market. Factors such as the rising prevalence of chronic diseases, increase in healthcare expenditure, rapid growth in the aging population, growing pharmaceuticals market, high rate of medication nonadherence, and increase in funding by government agencies are driving the growth of the adherence packaging market in North America.

Some key players mentioned in the research report are:

The major players in the medication adherence packaging market are Becton, Dickinson, and Company (U.S.), Omnicell, Inc. (U.S.), Cardinal Health, Inc. (U.S.), McKesson Corporation (U.S.), Parata Systems LLC (U.S), TCGRx (U.S.), RxSafe, LLC (U.S.), Pearson Medical Technologies, LLC (U.S.), Talyst, LLC. (U.S.), Parata Systems LLC (U.S.), ARxIUM, Inc. (Canada), and KUKA AG (Germany).

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