(PharmaNewsWire.Com, November 09, 2020 ) 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 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.
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.
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.
In 2016, the multi-dose packaging systems dominated the adherence systems market. The multi-dose packaging systems segment is further segmented into blister card packaging systems and strip/pouch packaging systems. The large share and high growth of this segment can primarily be attributed to the benefits of multi-dose packaging, such as assisting patients with complicated prescription regimens, ability to enhance patient safety, and elimination of medication waste.
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. By material, the adherence packaging market is classified into plastic film, paper & paperboard, and aluminum.
Region Covered in Adherence Packaging Market
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. Europe is the fastest-growing market for adherence packaging market.
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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