The global adherence packaging market is projected to grow at a CAGR of 6.2% during the forecast period from 2022 – 2031.
The global adherence packaging market is projected to reach USD 917.7 million by 2031 from an estimated USD 679.1 million in 2022, at a CAGR of 6.2%. Growth in this market is mainly driven by factors such as the high rate of medication nonadherence, technological advancements such as remote dispensing systems, and the growing need to minimize medication wastage. The emerging economies and government initiatives to improve medication adherence are the key opportunity areas for players seeking to expand their presence in the market. However, a lack of awareness among patients regarding medication adherence is a key factor that limits the market growth.
“The multi-dose packaging systems segment is expected to grow at the highest CAGR during the forecast period”
On the basis of systems, the adherence packaging market is categorized into multi-dose packaging systems and unit-dose packaging systems. The multi-dose packaging systems segment is further segmented into blister cards packaging systems, and pouches/strips packaging systems. The high growth of this segment can primarily be attributed to the benefits of multi-dose packagings, such as assisting patients with complicated prescription regimens, the ability to enhance patient safety, and eliminating of medication waste. Within the multi-dose packaging systems, the pouches/strips segment is expected to register the highest growth rate during the forecast period. These systems are cost-effective, help reduce material waste during production, and increase reproducibility for continuous operations.
“By type & material, the blister cards segment & plastic film segment accounted for the largest share of the market in 2022”
The blister cards segment accounted for the largest share of the adherence packaging market in 2022. The large share 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. The plastic film segment dominated the adherence packaging material market. Transparency, malleability, lightweight, and cost-effectiveness of plastic films are few of the factors driving the growth of this segment.
“Europe is expected to grow at the highest CAGR during the forecast period (2022-2031)”
The European market shows significant growth potential for the adherence packaging market. Europe is also the fastest-growing market for adherence packaging. The growth of the adherence packaging market across Europe is primarily driven by the availability of significant government funding for R&D, the presence of prominent adherence packaging companies, increasing prevalence of cardiovascular disease, and growth in the aging population, which significantly increases the burden on European healthcare systems and boost the demand for effective and efficient solutions.
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The break of primary participants was as mentioned below:
- By Company Type – Tier 1-45%, Tier 2-40% and Tier 3-15%
- By Designation – C-level-45.5%, Director Level-32.0%, Others-22.5%
- By Region – North America-43.7%, Europe-24.8%, Asia-Pacific-26.7%, Latin America-1.9%, Middle East & Africa- 2.9%
The major players in the 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).
The adherence packaging market in this report is segmented by systems type, packaging type & material, end user, and region. It provides detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The study tracks and analyzes competitive developments (such as partnerships, agreements, collaborations, mergers & acquisitions, product developments, geographical expansions, and R&D activities) and strategically profiles the key players and comprehensively analyzes their market shares and core competencies in the adherence packaging market.
Reasons to buy this report:
From an insight perspective, this report has focused on various levels of analysis–market share analysis of top players, and company profiles which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the adherence packaging market; high-growth regions; and market drivers, restraints, and opportunities. The report provides the latest adherence packaging industry statistics and industry trends, allowing buyers to identify the high-growth product segment and potential customers and suppliers hence driving revenue growth and profitability.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on medication adherence offered by the top players in the global adherence packaging market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the adherence packaging market
- Market Development: Comprehensive information about lucrative emerging markets– the report analyzes the markets for the adherence packaging market across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global adherence packaging market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global adherence packaging market
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