December 9, 2024
Adherence Packaging Market

The Adherence Packaging Market is Expected to be Flourished by the Growing Need to Improve Medication Adherence

Adherence packaging refers to personalized medication packaging and management systems that are designed to support patients to follow their prescribed treatment regimen correctly and on-time. It typically organizes doses by date and time in unit-dose blister packs, bubble packs, or medication bottles. It is being widely adopted across hospitals, long-term care facilities, retail and mail-order pharmacies to effectively manage medications for various chronic conditions including cardiovascular disorders, diabetes, asthma, HIV/AIDS, and mental illnesses. The equipment involved includes packaging machines, sealing and sorting equipment, package inspection systems, counting machines, and tabletop accessories.

The global Adherence Packaging Market is estimated to be valued at US$ 993.89 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Growing need to improve medication adherence: Non-adherence to prescribed medication is a major health issue which results in poorer health outcomes and increased healthcare costs. According to the World Health Organization (WHO), medication non-adherence costs up to $289 billion per year in avoidable hospitalization costs globally. Adherence packaging solutions are found to substantially improve medication adherence rates by enabling easy organization and monitoring of doses which is driving greater adoption across the healthcare industry.

Rising geriatric population and prevalence of chronic diseases: Increased risk of chronic diseases and multiple prescriptions among the growing elderly population is another factor fueling the demand for adherence packaging. As per the United Nations data, the global population aged 60 years and above is projected to reach around 2.1 billion by 2050 from 1.4 billion in 2024. Growing prevalence of chronic conditions requires long-term medication management solutions like adherence packaging.

Segment Analysis
The global adherence packaging market is segmented into blister card packaging, pouches/strip packaging, pre-filled syringes & injectable, and bottles. The blister card packaging sub-segment holds the largest market share in 2023 and is expected to remain dominant during the forecast period as well. Blister card packaging provides effective protection and moisture control for medications and helps people suffering from chronic diseases or the elderly to conveniently take medicines on time.

PEST Analysis
Political: Government policies play a major role in regulating the adherence packaging market. stricter control and regulations regarding medication adherence standards are boosting market growth.
Economic: Rising healthcare costs associated with chronic diseases has increased focus on adherence packaging which reduces medical costs associated with improper medication adherence. Growing middle class in emerging economies also contributes to market growth.
Social: Changing demographics with a growing aging population necessitating medication management solutions and increasing awareness about benefits of adherence packaging is fueling market demand.
Technological: Innovations in adherence packaging such as integrated sensors, smart reminders, and connected health platforms are supporting medication adherence and allowing for remote monitoring. This is positively impacting the market growth.

Key Takeaways
The Global Adherence Packaging Market Size is expected to witness high growth over the forecast period. The global Adherence Packaging Market is estimated to be valued at US$ 993.89 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.

North America leads the market currently owing to strict regulatory policies around adherence packaging and presence of major players. however, Asia Pacific is expected to grow at the fastest pace during 2023-2030 with increasing healthcare expenditures and expansion of healthcare infrastructure.

Key players operating in the adherence packaging market are Westrock Company, Keystone Folding Box Co, Cardinal Health Inc, Omnicell Inc., Jones Healthcare Group, Drug Package LLC, Manrex Limited, Medicine-on-time LLC, and Rx Systems Inc. Westrock Company currently holds the largest market share and offers innovative medication adherence solutions through blister cards and bottles for chronic disease treatment. Keystone Folding Box Co specializes in customized adherence packaging solutions targeted towards specialty drugs and therapies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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