The global Adherence Packaging Market Growth Accelerated by Increased Patient Engagement
Adherence packaging refers to packaging systems that organize and distribute medication according to dosage time or day. They help patients follow medical dosage schedules efficiently and on time. Adherence packaging aids in increasing medication adherence levels and reduces wastage. The rising prevalence of chronic diseases and growing geriatric population are fueling the need for adherence packaging solutions globally.
The global Adherence Packaging Market is estimated to be valued at US$ 993.89 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased patient engagement is one of the major market trend for adherence packaging market. Adherence packaging helps in increasing patient engagement by ensuring on-time administration of medications. They remind patients to take medications as prescribed through visual color-coding and labeling of each compartment or blister as per the scheduled time. This reduces chances of missed dosages leading to increased medication adherence. Their user-friendly design and ease of usage also helps in improving patient experience and engagement with medical treatment regimens. Furthermore, adherence packaging solutions enable two-way communication between patients and caregivers through compliance monitoring technologies. This drives the patient engagement levels higher globally.
Segment Analysis
The global Adherence Packaging market is dominated by blister cards and strips segment. This is because blister cards and strips provide effective unit dose packaging with clear visibility and protection of medications. They improve medication adherence for chronic conditions like hypertension and diabetes where patients require to take multiple medications on a daily basis as per the prescribed schedule.
Key Takeaways
The Global Adherence Packaging Market Size is expected to witness high growth over the forecast period 2023 to 2030. The market is projected to grow at a CAGR of around 11% during this period and reach a size of over US$ 993.89 Mn by 2024.
Regional analysis: North America region currently dominates the global Adherence Packaging market and is expected to maintain its leading position over the forecast period as well. This is attributed to growing elderly population suffering from chronic diseases in countries like the US and Canada. Additionally, presence of developed healthcare infrastructure and awareness about medication adherence are supporting market growth in the region. Asia Pacific is anticipated to emerge as the fastest growing regional market owing to increasing healthcare spending, rising prevalence of chronic disorders, and growing focus of key players on tapping opportunities in developing countries of the region.
Key players analysis: Key players operating in the Adherence Packaging market include 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. These players are focusing on new product launches, partnerships, and expansion in emerging markets to strengthen their market position. For instance, in 2022, Cardinal Health launched prefillable Pediatric Medication Syringes to help improve medication safety and adherence for children.
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