Adherence Packaging Market Analysis, Top Share To 2031

(MENAFN- Straits Research) Introduction

Adherence packaging is mainly used in healthcare settings to do away with burdensome medication planners and schedule drug consumption the way patients do. To make taking their medication as directed by their doctor easier, the patient receives it throughout the day or as time passes. Unwell patients, such as those with diabetes or high blood pressure, continuously experience it. Patients with cardiac issues must follow their prescribed drug schedules to avoid relapses or hospital readmissions. Blister cards and multi-medication pouches typically contain sticky packaging. Each of these factors contributes to the expansion of the market for adhesive packaging.

Market Dynamics The Increasing Need to Reduce Medication Waste Drives the Global Market

The growing need to cut down on medication wastage has led to growth in the adherence packaging industry. Medication waste has adverse environmental effects and is expensive for the healthcare system. Therefore, preventing the drug from being underutilized along the pharmaceutical supply chain is an intriguing strategy to ensure long-term medicine supply and utilization. Manufacturers can support medications' long-term collecting and use by prolonging shelf life, selecting the most environmentally friendly storage solutions, and altering package size. Distributors are in charge of optimizing stock management procedures and enhancing shelf-life restrictions.

High Rate of Non-Adherence to Medication Creates Tremendous Opportunities

The efficacy of a treatment is greatly affected by the degree to which patients use it. When prescribed care is not given, it can have devastating effects on both the patient and the healthcare system. Serious health issues, even death, and increased medical costs are experienced by patients who do not take their medications as prescribed. Adherence is likely to be impacted by a variety of circumstances. Adherence barriers may arise from issues involving patients, healthcare professionals, and the healthcare system, as well as from interactions between them. A Truven Health Analytics-NPR Health Poll found that 67% of patients do not take their prescription as directed because it is so expensive, adding to a multibillion-dollar burden that is particularly challenging for population health management projects.

Regional Analysis

North America is the most significant contributor to revenues and is anticipated to expand at a CAGR of 5.70% during the projection period. One of the most critical regions in the world, North America, has a substantial percentage of the adherent packaging business owned by the United States. The nation's overabundance of minor and major retailers is to blame for the rise in demand. For instance, the company provides pouch packaging and blister packaging to retail pharmacies, hospitals, discharge patients, long-term care, assisted living, skilled nursing communities, physicians, accountable care organizations (ACOs), home health agencies, group homes, and correctional facilities. For instance, Parata's pharmacy automation solutions have been installed in more than 4,500 pharmacies across North America in a variety of settings.

Europe is anticipated to grow at a CAGR of 6.70% during the forecast period. There are currently companies offering controlled dose solutions around Europe that are committed to improving health outcomes through drug adherence. For instance, Jones Health Care Group provides a full range of adherence packaging to over 12,000 pharmacies in 20 countries. Additionally, qualified pharmacists collaborate directly with medical experts, groups, and institutions at Venalink teams (a Jones Healthcare Group Company), which has offices in the UK and Spain. Together, they create cutting-edge packaging, industry standards, and medication administration methods for the European and British markets. The market focuses on circular design concepts for products to sell more environmentally friendly packaging.

Key Highlights

• The global adherence packaging market was valued at USD 915.2 million in 2022 . It is projected to reach USD 1546.21 million by 2031 , growing at a CAGR of 6% during the forecast period (2023-2031).
• Based on material, the global adherence packaging market is bifurcated into plastic (PE, PET, PVC, and PP), paper and paperboard, and aluminum. The plastic (PE, PET, PVC, and PP) segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.70% during the forecast period.
• Based on type, the global adherence packaging market is bifurcated into Unit-dose Packaging and Multi-dose Packaging. The multi-dose packaging segment is the highest contributor to the market and is estimated to boost at a CAGR of 8.70% during the forecast period.
• Based on packaging type, the global adherence packaging market is bifurcated into blisters, pouches, and other packaging types. The blisters segment is the highest contributor to the market and is estimated to grow at a CAGR of 8.10% during the forecast period.
• Based on the end-user industry, the global adherence packaging market is bifurcated into pharmacies, hospitals, and other end-user industries. The pharmacies segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.70% during the forecast period.
• North America is the primary significant revenue contributor and is expected to grow at a CAGR of 5.70% during the forecast period.

Competitive Players

Westrock Company

Keystone Folding Box Co

Cardinal Health Inc.

Omnicell Inc.

Jones Healthcare Group

Drug Package LLC

Manrex Limited

Medicine-on-time LLC

Rx Systems Inc.

Recent Developments

• February 2022- CuePath Innovation , a provider of medication adherence solutions for the home healthcare market, announced the release of the second generation of its suite of remote patient care medication adherence monitoring tools, which includes the Smart Blister Packaging Solution. The news coincides with the beginning of the firm's critical care project with Wellness Pharmacy Group, which will support patients on complex medication adherence and monitoring regimens.
• December 2021- Innovating sustainable packaging for pharmacies, Jones Healthcare Grou announced the inclusion of new solutions to its Qube and FlexRx product lines for medication adherence. Pharmacy care teams will have more time to devote to patients thanks to the Qube Pro, FlexRx One, and FlexRx Reseal, designed to reduce the environmental footprints of both pharmacies and patients.

Segmentation

By Material

Plastic (PE, PET, PVC, and PP)

Paper and Paperboard

Aluminum

By Type

Unit-dose Packaging

Multi-dose Packaging

By Packaging Type

Blisters

Pouches

Other Packaging Types

By End-User Industry

Retail Pharmaceuticals

Clinics & Pathology Labs

Others

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