Medical non adherence is a common issue reported in every region, as per a report by IMS health, U.S. alone incurred avoidable costs of more than US$ 200 billion due to medication non adherence by patients. Due to the wide spread effect of medical non adherence, healthcare systems and government agencies all across the globe are working on packaging types that help in curbing the issue.
The advent of the single dose formats is one of the initial step taken by the government to improve the patient compliance towards medications. Medical adherence packaging involves labelling and packaging of the pharmaceutical products in such a manner that ensures that the patient is taking the medicine as directed. The global medication adherence packaging market is expected to expand at a healthy CAGR due to advancement in the pharmaceutical market.
Initiatives by the governmental agencies across all regions for packaging types that improve the medicine intake regime of patients is one of the prime factor driving the growth of the global medication adherence packaging market.
There has been increasing demand for packaging types that allows the patients keep a tab on their medicine intake, further fuelling the growth of the medication adherence packaging market.
Financial implications of the medication adherence packaging as compared to the conventional packaging types is a restraining factor as not only the patients, even the manufacturers are reluctant to switch to the medication adherence packaging.
Moreover, macroeconomic conditions in certain regions do not allow a steady growth for the medication adherence packaging market. Introduction of smart features in the medication adherence packaging types is a key trend prevailing in the global medication adherence packaging market.
Manufacturers have introduced calendar blisters and smart caps to improve the medical non adherence issues in patients. Use of bio based raw materials for the production of medication adherence packaging is expected to create ample opportunities for the global medication adherence packaging market.
Customization for brand differentiation is also expected to create growth opportunities for the global medication adherence packaging market.
On the basis of geography, the global medication adherence packaging market is segmented into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. North America is currently leading the global medication adherence packaging market due to the high expenditure on healthcare by the government in the region. In Europe, especially in Western Europe are marked by the highly advanced pharmaceutical market, thus the medication adherence packaging market is anticipated to experience steady growth over the forecast period.
Asia Pacific medication adherence packaging market is expected to grow steadily due to increasing preference by consumers. The Middle East & Africa and Latin America region are expected to witness sluggish growth over the forecast period due to slowly developing economies and pharmaceutical market.
Some of the key players operating in the global medication adherence packaging market are McKesson Corporation, WestRock Company, Manrex Limited, Genoa Healthcare, LLC, Omnicell UK, MTS Medication Technologies, and Catalyst Healthcare Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global medication adherence packaging market is segmented on the basis of packaging type, material type, end use, and geography.
On the basis of packaging type, the global medication adherence packaging market is segmented into
On the basis of material type, the global medication adherence packaging market is segmented into
On the basis of end user, the global medication adherence packaging market is segmented into
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Medication Adherence Packaging Market
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