PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629247
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629247
Multi-med Adherence Packaging Market size was valued at USD 391.5 Million in 2023, expanding at a CAGR of 6.50% from 2024 to 2032.
Multi-med adherence packaging is a specific type of pharmaceutical packaging that arranges medications in an easy-to-use way to increase patient compliance. Blister packs or strip packs that are prefilled with specified dosages are commonly included in this packaging, which aids patients in efficiently managing several medications. It seeks to improve the general treatment of chronic illnesses and lower drug mistakes, particularly in older and polypharmacy patients. The growing need for efficient drug management solutions, especially among the elderly and those with chronic illnesses, is driving the multi-med adherence packaging industry's rapid expansion on a global scale. Another significant motivator is the growing understanding of how crucial medication adherence is to reducing hospital readmissions and enhancing patient outcomes. Furthermore, manufacturers are being compelled to develop eco-friendly materials as a result of the increased emphasis on sustainability and environmental issues, which is opening up new business prospects. To meet consumer needs for convenience and environmental responsibility, for example, products utilizing recyclable plastics and paper-based materials have been introduced in recent years.
Multi-med Adherence Packaging Market- Market Dynamics
Rising Incidence of Cancer
Consumers and healthcare professionals are searching for packaging choices that minimize plastic waste and have a lower environmental impact as environmental concerns gain traction. In response, businesses are creating packaging materials for multi-medical adherence items that are recyclable, biodegradable, or reusable. In addition to addressing environmental concerns, this modification satisfies the rising demand from customers who care about the environment. Furthermore, governments and regulatory agencies are pressuring the health industry to embrace more environmentally friendly practices, which increases pressure on businesses to use sustainable packaging. It is anticipated that this tendency will intensify further as sustainability becomes a primary concern across all industries, including health, which will propel the multi-med adherence packaging market expansion.
Multi-med Adherence Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global Multi-med Adherence Packaging Market is estimated to grow annually at a CAGR of around 6.50% over the forecast period (2024-2032)
Based on packaging type segmentation, the blister packs category was predicted to show maximum market share in the year 2023
Based on material segmentation, plastics was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Multi-med Adherence Packaging Market is segmented on the basis of Packaging Type, Material, End-user, and Region.
Based on packaging type, the Multi-med Adherence Packaging Market is divided into Pouches, Strips, and Blister Packs. In 2023, the blister packs category led the market. Patients can easily trace their medicine administration thanks to blister packs' organized design, which improves adherence. Blister packs also offer protection against tampering, guaranteeing patient safety & the integrity of the drug. Nonetheless, throughout the projection period, pouches are anticipated to increase at a notable CAGR. Because of its easy-to-open packaging and clear labelling, pouches provide a convenient method of managing medications. They can also be produced more cheaply than other packaging alternatives, which makes them a sensible option for pharmaceutical companies looking to cut expenses without sacrificing patient convenience or quality.
By material, the market is segregated into Paper, Plastics, and Aluminum. The plastics category led the market in 2023. They are the preferred material for multi-med adherence packaging, especially for blister packs and pouches, due to their affordability, durability, and adaptability. Recent developments in recyclable and biodegradable polymers are also accelerating their use. However, since it is environmentally beneficial, the paper market is growing, particularly in areas with strict environmental laws. Although aluminium has a smaller market share, it is utilized in specific applications where light and moisture barriers are essential.
Multi-med Adherence Packaging Market- Geographical Insights
Geographically, the Multi-med Adherence Packaging Market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In 2023, the multi-med adherence packaging market in North America dominated the global market. A sophisticated healthcare system and a strong focus on drug compliance fuel this. The area is a market leader, which is further cemented by its supremacy in pharmaceutical manufacturing worldwide. Additionally, the Centers for Disease Control and Prevention (CDC) report that nearly half of American people are on at least one prescription drug. The region's elderly population and high frequency of chronic illnesses have fueled the need for adherence packaging solutions. The presence of important market players and cutting-edge healthcare infrastructure has also aided North America's leading position in the market.
The multi-med adherence packaging market in Asia-Pacific is anticipated to develop significantly throughout the projected period. As per the World Health Organization, the proportion of Southeast Asians aged 60 and beyond is predicted to increase from 13.7% of the region's total population by 2030 to 20.3% by 2050. The need for medication adherence solutions is anticipated to be fueled by this demographic transition, the rising cases of chronic illnesses, and the rising cost of healthcare in nations like China and India. The region's governments are also taking steps to enhance patient outcomes and medication management, which is contributing to the multi-med adherence packaging market's expansion.
The leading companies in the multi-med adherence packaging market are Omnicell, Inc., AARDEX Group, Aptar CSP Technologies, Inc., Jones Healthcare Group, Manrex Ltd., and others. The various needs of patients, pharmacists, and healthcare practitioners are met by these businesses, which supply a broad range of adherence packaging solutions, including blister cards, pouches, and automated dispensing systems. Additionally, these firms have expanded their market presence and remained competitive by implementing a number of methods, including mergers and acquisitions, strategic partnerships, and product innovation. For instance, in February 2024, the FlexRx Gen 2 and FlexRx Reseal medication adherence solutions were introduced by Jones Healthcare Group with the goal of increasing pharmacy productivity. Pharmacies can reseal drugs with FlexRx Reseal, and FlexRx Gen 2 has an improved design for simpler medication handling. Both devices are designed to improve patient care and expedite pharmaceutical workflows.
February 2024: The NexPak Automated packing System, developed by Capsa Healthcare, will assist pharmacies in implementing automated drug packing procedures and offering patients well-organized medication administration. These packages, which come in the form of strips, are meant to assist patients or nurses in getting ready and giving medication.
March 2023: The Digi-Cap, a computerized child-resistant closure made for clinical trials, medication development, research, and academic studies, was introduced by Berry Global Inc. The Digi-Cap can help enhance medication adherence and offer insights into the efficacy of medications by monitoring patient consumption data. The closure, which has a microchip embedded in it, logs patient openings and keeps track of usage. It also continuously records temperature storage levels and monitors them, providing useful information for research and development.