PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447067
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447067
According to Stratistics MRC, the Global Adherence Packaging Market is accounted for $992.95 million in 2023 and is expected to reach $1,723.93 million by 2030 growing at a CAGR of 8.20% during the forecast period. Adherence packaging is a specialized method of packaging medications designed to improve patient adherence to prescribed medication regimens. It typically involves organizing medication doses into individual compartments or packets, often labeled with the date and time they should be taken. This approach helps patients easily manage their medication schedules, reducing the likelihood of missed or incorrect doses. Adherence packaging can take various forms, such as blister packs, pill organizers, or multi-dose packaging systems. It is particularly beneficial for patients with complex medication regimens, chronic conditions, or those who may have difficulty remembering to take their medications regularly.
Increasing geriatric population
As individuals age, they often face multiple chronic conditions requiring complex medication regimens. Adherence packaging, such as blister packs and pill organizers, helps seniors manage their medications more effectively by organizing doses and reducing the risk of medication errors. Additionally, aging populations typically experience declines in cognitive function, making adherence packaging with clear instructions and easy-to-use designs crucial for medication adherence. Thus, the rising demand for solutions that promote medication adherence among seniors is propelling the growth of the adherence packaging market.
Accessibility and equity
Accessibility and equity constraints refer to challenges related to ensuring that medication adherence solutions are accessible and equitable for all individuals, regardless of their socio-economic status, physical abilities, or geographical location. These may arise from the limited availability of adherence packaging solutions in rural or underserved areas, as well as barriers related to affordability and health literacy. Equity constraints involve ensuring that adherence packaging options are tailored to meet the diverse needs of various populations, including those with disabilities or language barriers. Addressing these constraints requires efforts to expand distribution networks, reduce costs, and enhance educational resources to promote equal access and usage of adherence packaging solutions among all demographics.
Expansion into emerging markets
Emerging markets, characterized by rapid economic growth and rising healthcare expenditures, offer a large, untapped consumer base. Adherence packaging solutions cater to the increasing demand for efficient medication management in these regions. The growing prevalence of chronic diseases in emerging markets drives the need for improved medication adherence. By entering these markets, companies can capitalize on the growing healthcare infrastructure and rising awareness about the importance of medication adherence, thus expanding their market reach and driving revenue growth.
Consumer behaviour
The threat of adherence to packaging in consumer behavior lies in its potential to disrupt traditional purchasing patterns and brand loyalty. Adherence packaging, designed to improve medication adherence by organizing doses, may alter consumer preferences as individuals prioritize convenience and health outcomes over brand familiarity. This shift could challenge pharmaceutical companies and retailers reliant on traditional marketing strategies. Moreover, if adherence packaging becomes widely adopted, it could diminish the significance of branding and advertising in influencing consumer choices, favoring products that prioritize functionality and ease of use.
With heightened concerns about health and safety, there has been a surge in demand for adherence packaging solutions, which help patients organize and manage their medications effectively. This increased demand is driven by the need for contactless delivery methods and remote healthcare solutions. The pandemic has led to a rise in chronic health conditions, further driving the demand for adherence packaging to ensure medication compliance. However, disruptions in the supply chain and manufacturing processes have also posed challenges for the industry.
The paper and paperboard segment is expected to be the largest during the forecast period
The paper and paperboard segment has experienced significant growth due to increasing awareness about environmental sustainability, with paper and paperboard being renewable and recyclable materials. Advancements in manufacturing technologies have made it possible to produce paper-based packaging that meets the stringent requirements for medication adherence, such as tamper resistance and child-resistant features. Additionally, the cost-effectiveness of paper-based packaging compared to traditional plastic options has made it a preferred choice for pharmaceutical companies. Moreover, regulatory pressures to reduce plastic usage in packaging have further boosted the adoption of paper and paperboard solutions in adherence packaging.
The retail pharmacy segment is expected to have the highest CAGR during the forecast period
The growth of the retail pharmacy segment has been substantial due to increasing prevalence of chronic diseases. The convenience and ease of use offered by adherence packaging, such as blister packs and medication organizers, appeal to patients seeking simplified medication management. Retail pharmacies are leveraging technology to enhance adherence packaging solutions, incorporating features like automated refill reminders and digital monitoring, further driving growth in this segment. Furthermore, partnerships between retail pharmacies and healthcare providers are expanding access to adherence packaging solutions, boosting adoption rates.
North American region has witnessed significant growth in the adherence packaging market. This growth can be attributed to several factors, including an aging population, increasing prevalence of chronic diseases, and rising demand for personalized medication management solutions. Advancements in technology, such as smart packaging and connected devices, have bolstered market expansion by improving medication adherence and patient outcomes. Moreover, regulatory initiatives promoting the adoption of adherence packaging to enhance patient safety and medication adherence have further fueled market. Additionally, the region's robust healthcare infrastructure and high awareness regarding the importance of medication adherence have also contributed to the expansion of the market.
The Asia-Pacific region has witnessed significant growth in the adherence packaging market due to rapid urbanization, increasing healthcare expenditure, and a growing geriatric population. Governments in countries like China and India are focusing on improving healthcare infrastructure, further boosting market expansion. Technological advancements, such as digital monitoring systems, are also contributing to the region's market growth by enhancing medication adherence rates. Furthermore, rising awareness among patients and healthcare providers about the benefits of adherence packaging for preventing medication errors and improving treatment outcomes is fueling market demand.
Key players in the market
Some of the key players in Adherence Packaging market include Cardinal Health Inc. , Drug Package LLC, Jones Healthcare Group, Keystone Folding Box Co. , Manrex Limited, Medicine-On-Time LLC, Omnicell Inc. , Parata Systems LLC , Rx Systems Inc. and Westrock Company.
In November 2023, chreiner Group's pharmaceutical labels manufacturing unit Schreiner MediPharm has announced a new partnership with US-based paperboard pharmaceutical packaging company Keystone Folding Box. As part of this collaboration, Schreiner MediPharm has developed a new extension for Keystone Folding Box's existing 'Key-Pak' wallet range, designed for oral solid dose medication.
In January 2023, Jones Healthcare Group, a company involved in advanced packaging, announces the installation of a state-of-the-art BOBST NOVACUT 106 ER flatbed die-cutter. The new equipment increases the company's production efficiency and capacity for complex folding cartons in support of regulated health and wellness clients.