Ottawa, Sept. 19, 2024 (GLOBE NEWSWIRE) — The global adherence packaging market size is predicted to increase from USD 1.10 billion in 2023 to approximately USD 1.93 billion by 2032, according to a study published by Towards Packaging a sister firm of Precedence Statistics. The industry is expected to expand at a solid CAGR of 6.43% between 2024 and 2033.
Key Takeaways: Leading Factors of the Adherence Packaging Market
- Increasing number of chronic diseases is the major factor that drives the market.
- Increasing need for medication perceives growth in North America due to increased number of elder generations.
- Pharmaceutical industry is the dominating sector in market due to increased healthcare requirement.
- Increasing need for sterile packaging solution is an unceasing challenge for the market.
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Market Overview
The adherence packaging market revolves around pre-packaging of medications allotted to the patients which improves on-time consumption of medicine and also reduces risks of wrong dosage consumption. Along with this, medication synchronization, reducing multiple prescriptions and increasing medication adherence are the leading objectives of the market. The demand for adherence packaging has increased due to aging population and significant advantage of prescribed dosages.
The simple medication administration and the use of single or multiple dosage packing has also reduced the fear of adverse side effect which is common among older adults. The regularly scheduled contact points provided by adherence packaging services solve medication-related problems and also check on patient’s current medication regimen.
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Driver
Chronic diseases and need for quality medication drive the adherence packaging market
The major driving factor is the increasing number of chronic diseases which include diabetes, heart disease and arthritis wherein the patient requires long-term medication and adherence packaging market offers high quality medicine administration. The adherence packaging market focuses on increasing the patient independency, reducing the pressure of managing multiple medications and also reducing intentional and unintentional nonadherence. The convenience and confidence of the patients has significantly contributed to the growth of adherence packaging market.
Restraint
High costs and strict regulations hinder the adherence packaging market
The leading challenges which hinder the growth of the adherence packaging market is high costs and strict regulations essential for the dosage and medicines. The high costs are result of medical facilities provided to the patient and the cost-expenditure for smaller pharmaceutical companies. Apart from this, government guidelines are necessary to be followed by the adherence packaging and the regulations are often time-consuming and costly.
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Opportunity
Personalized Packaging and AI Integration
The adherence packaging market offers customer convenience by providing medical synchronization and ensuring on-time consumption. The packaging should provide services beyond chronic diseases and include other diseases as well like health disorders and substance abuse. The adherence packaging can also create personalized batches according to the patients’ needs and requirements.
Technological advancement has made taking medicines on time easier and this has significantly contributed to the emerging adherence packaging market with innovations like medication sleeves, smart pill boxes and video supported treatment. Digital adherence technologies help patients suffering from TB rather than the traditional directly observed therapy. The advancements like indigestible sensors, motion-sensor-based wearables and predictive analytics are increasing the demand of the market due to features and convenience provided to the patient. Apart from this, medication event monitoring system (MEMS), electronic pill boxes, electronic audiovisual reminder devices (AVRD) and radio frequency identification (RFID) are the upcoming technological advancements in adherence packaging market.
Regional Insights
North America’s infrastructure: Regions Efforts to Grow
North America is the dominating region in the adherence packaging market due to the growth of aging population and increasing chronic diseases. The treatments of chronic diseases are expensive, although, America in this case is adamant on reducing healthcare costs through government initiatives and tax-breaks which is the reason behind emerging adherence packaging market in North American region.
The aging American population prefers medical dosages which are easy and convenient to remember. The American healthcare infrastructure is the major factor for the growth and increasing demand of adherence packaging market. Along with technological advancement, massive investments in healthcare sectors have increased the growth rate of the market.
- In March 2024, Alleviating Supply Chain issued its packaging launch and picked speed in North America and the reasons were savings, access, shipping, timeline and reduction of carbon footprint. In the 2023, the association was able to increase supply chain and also able to make improvements. It also stated that they should have adopted resilient strategies for continued progress.
Europe is the steady market in the adherence packaging market due to increased expenditure on healthcare sector due to the increasing number of chronic diseases. Although the healthcare services are costly, the European government has adopted initiatives and regulations to reduce the costs revenue and to increase medication adherence which will increase the adherence packaging market rate. The European region focuses on the digital adherence integration to improve the packaging facilities and to also fulfil the requirements of personalised packaging demands. European Union has also undertaken the initiative to adopt medication adherence-enhancing interventions (MAEIs) which will be beneficial for the adherence packaging market.
- In March 2024, a collaboration between several companies which are INEOS Olefins & Polymers Europe, PepsiCo, and Amcor had launched packaging solutions for Sunbites crisps and also incorporated 50% of recycled plastic. The companies ensured to follow strict regulations set by the European Union for the industries like food contact packaging and sensitive medical services.
Asia-Pacific is the fastest growing region in adherence packaging market. The increasing aging population and the chronic diseases which has attributed to the growth of healthcare packaging as well market are the major factors to drive the adherence packaging market. The underdevelopment of healthcare infrastructure poses as a hindrance to the Asia-Pacific region, given the reason that tackling the regulatory guidelines is costly and time-consuming. The medicine adherence in this region can reduce hospitalized risks and decrease healthcare costs. In addition, medical adherence also reduces hypertension and control.
- In March 2024, Bambrew, a clean-tech start-up in sustainable packaging space had raised Rs 60 crore in equity and had provided solution for the degradable and environment and animal friendly packaging. The funding was used into packaging firms like FMCG, Food and Beverages product categories to expand their base. The company also stated that the products were certified by the Government of India and the Central Pollution Control Board.
Top Companies Leading the Adherence Packaging Market
- WestRock Company
- Medicine-On-Time LLC
- Parata Systems, LLC
- Omnicell, Inc.
- AARDEX Group
- Jones Healthcare Group
- Cardinal Health
- MCKESSON CORPORATION
- Baxter
- BD
- Euclid Medical Products
- Aptar CSP Technologies, Inc.
- AmerisourceBergen Corporation
- Synergy Medical
- Manrex Ltd.
- Pearson Medical Technologies LLC
Recent Developments:
| Company | Evertis |
| Headquarters | Mexico |
| Recent Development | In June 2024, Evertis had launched a brand, Evercare which was able to provide special and medically designed films which were gone through regulatory compliance. The company offers performance-based solutions also provides sustainable advantages as well. |
| Company | Systech |
| Headquarters | Tamil Nadu, India |
| Recent Development | In March 2024, Systech had launched a solution and had also adhered to the Drug Quality and Security Act (DSCSA) guidelines and systems. The company offers a solution which will provide rapid deployment and connectivity to any Level 4 platform. |
Segmental Insights
By Material
The plastic segment is the dominating segment in the adherence packaging market. It will dominate the market due to its properties which are providing protection, durability and providing moisture resistance as well. The plastic segment offers a hygienic and lightweight packaging which makes it preferred among the consumers. Customization and safety are the essential features of the plastic segment.
The paper and paper-board segment are the fastest growing segment in the adherence packaging market. It is dominating due to its properties which are convenience and flexibility. The paper and paper-board segment provides easy handling, strong protection and adaptability and can also be easily recycled or bio-degraded. Apart from this, paper and paper-board materials can be customized according to the prescribed dosages to the patients.
By End-User
The hospital segment is the dominating segment in the adherence packaging market due to the facilities it provides to the patients. The medical staff and the additional services provided by the hospital segment increases its demand. Connivence and accuracy are the leading objectives of the hospital segment.
The pharmacies segment is the fastest growing segment in the adherence packaging market. The segment provides medical synchronization which is the essential part of the patient facility. Along with providing safety, the pharmacies segment also oversees the prescriptions of the patients and strictly follows the guidelines set by government.
More Insights in Towards Packaging
- The global end-of-line packaging market size is estimated to reach USD 9.50 billion by 2033, up from USD 6.14 billion in 2023, at a compound annual growth rate (CAGR) of 4.60% from 2024 to 2033.
- The global surgical instruments packaging market size reached US$ 24.8 billion in 2023 and is projected to hit around US$ 49.1 billion by 2034, expanding at a CAGR of 6.55% during the forecast period from 2024 to 2033.
- The global cannabis packaging market size reached USD 2.32 billion in 2023 and is projected to hit around USD 22.10 billion by 2034, expanding at a CAGR of 22.74% during the forecast period from 2024 to 2034.
- The global clinical trial packaging market size reached USD 2.95 billion in 2023 and is projected to hit around USD 9.12 billion by 2034, expanding at a CAGR of 10.80% during the forecast period from 2024 to 2033.
- The global panel level packaging market size is estimated to reach USD 11.13 billion by 2033, up from USD 0.43 billion in 2023, at a compound annual growth rate (CAGR) of 38.60% from 2024 to 2033.
- The global hazardous goods packaging market size reached US$ 11.50 billion in 2023 and is projected to hit around US$ 21.38 billion by 2034, expanding at a CAGR of 5.80% during the forecast period from 2024 to 2033.
- The global rigid tray market size reached US$ 11.65 billion in 2024 and is projected to hit around US$ 14.72 billion by 2034, expanding at a CAGR of 2.37% during the forecast period from 2024 to 2034.
- The global cider packaging market size is estimated to reach USD 7.05 billion by 2033, up from USD 4.08 billion in 2023, at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2033.
- The global boxboard packaging market size is estimated to reach USD 117.61 billion by 2033, up from USD 65.73 billion in 2023, at a compound annual growth rate (CAGR) of 6.12% from 2024 to 2033.
- The global corrugated plastic tray market size reached US$ 665.47 million in 2023 and is projected to hit around US$ 1190.73 million by 2034, expanding at a CAGR of 5.14% during the forecast period from 2024 to 2034.
Adherence Packaging Market Segment
By Material
- Plastics
- Paper
- Aluminium
- Others
By Type
- Unit-dose Blisters
- Multi-dose Pouches
- Packaging
- Pouches
- Blisters
- Others
By End User
- Pharmacies
- Hospitals
- Other
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
View Adherence Packaging Market Full TOC: https://www.towardspackaging.com/table-of-content/adherence-packaging-market-sizing
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About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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COMTEX_457922209/2471/2024-09-19T11:00:34